SSDN
EXECUTIVE SUMMARY
Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum
of financial services to customer segments covering Large and Mid-Corporates, SME,
Agriculture and Retail Businesses.
The Bank has a large footprint of 1787 domestic branches (including extension counters) and
10,363 ATMs spread across 1,139 centres in the country as on 31st December 2012. The Bank
also has 7 overseas branches / offices in Singapore, Hong Kong, Shanghai, Colombo, Dubai,
DIFC - Dubai and Abu Dhabi.
Axis Bank is one of the first new generation private sector banks to have begun operations in
1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of India
(SUUTI) (then known as Unit Trust of India),Life Insurance Corporation of India (LIC), General
Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India
Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance
Company Ltd. The shareholding of Unit Trust of India was subsequently transferred to SUUTI,
an entity established in 2003.
With a balance sheet size of Rs.2,85,628 crores as on 31st March 2012, Axis Bank is ranked 9th
amongst all Indian scheduled banks. Axis Bank has achieved consistent growth and stable asset
quality with a 5 year CAGR (2007-12) of 31% in Total Assets, 30% in Total Deposits, 36% in
Total Advances and 45% in Net Profit.
1
(PART-I)
CHAPTER NO. 1
BANKING INDUSTRY
Banking in India originated in the last decades first banks were The General Bank of India,
which started in 1786, and Bank of Hindustan, which started in 1770; both are now defunct. The
oldest bank in existence in India is the State Bank of India, which originated in the Bank of
Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of
the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all
three of which were established under charters from the British East India Company. For many
years the Presidency banks acted as quasi-central banks, as did their successors. The three banks
merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became
the State Bank of India in 1955.
History
Merchants in Calcutta established the Union Bank in 1839, but it failed in 1840 as a consequence
of the economic crisis of 1848-49. The Allahabad Bank, established in 1865 and still functioning
2
today, is the oldest Joint Stock bank in India.(Joint Stock Bank: A company that issues stock
and requires shareholders to be held liable for the company's debt) It was not the first though.
That honor belongs to the Bank of Upper India, which was established in 1863, and which
survived until 1913, when it failed, with some of its assets and liabilities being transferred to the
Alliance Bank of Simla.
Foreign banks too started to app, particularly in Calcutta, in the 1860s. The Comptoir d'Escompte
de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862; branches in
Madras and Pondicherry, then a French colony, followed. HSBC established itself in Bengal in
1869. 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 first entirely Indian joint stock bank was the Oudh Commercial Bank, established in 1881 in
Faizabad. It failed in 1958. The next was the Punjab National Bank, established in Lahore in
1895, which has survived to the present and is now one of the largest banks in 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 but 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, concentrated on financing foreign
trade. Indian joint stock banks were generally undercapitalized 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."
The period between 1906 and 1911, saw the establishment of banks inspired by the Swadeshi
movement. The Swadeshi movement 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
3
present such as Bank of India, Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank
and Central Bank of India.
The fervour of Swadeshi movement lead to establishing of many private banks in Dakshina
Kannada and Udupi district which were unified earlier and known by the name South Canara (
South Kanara ) district. Four nationalised banks started in this district and also a leading private
sector bank. Hence undivided Dakshina Kannada district is known as "Cradle of Indian
Banking".
During the First World War (1914–1918) through the end of the Second World War (1939–
1945), and two years thereafter until the independence of India were challenging for Indian
banking. The years of the First World War were turbulent, and it took its toll with banks simply
collapsing despite the Indian economy gaining indirect boost due to war-related economic
activities. At least 94 banks in India failed between 1913 and 1918 as indicated in the following
table:
Number of banks
Authorised capital
Paid-up Capital
that failed
(Rs. Lakhs)
(Rs. Lakhs)
1913
12
274
35
1914
42
710
109
1915
11
56
5
1916
13
231
4
1917
9
76
25
1918
7
209
1
Years
Post-Independence
4
The partition of India in 1947 adversely impacted the economies of Punjab and West Bengal,
paralyzing banking activities for months. India's independence marked the end of a regime of the
Laissez-faire for the Indian banking. The Government of India initiated measures to play an
active role in the economic life of the nation, and the Industrial Policy Resolution adopted by the
government in 1948 envisaged a mixed economy. This resulted into greater involvement of the
state in different segments of the economy including banking and finance. The major steps to
regulate banking included:

The Reserve Bank of India, India's central banking authority, was established in April 1935, but
was nationalized on January 1, 1949 under the terms of the Reserve Bank of India (Transfer to
Public Ownership) Act, 1948 (RBI, 2005b).

In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India
(RBI) "to regulate, control, and inspect the banks in India".

The Banking Regulation Act also provided that no new bank or branch of an existing bank could
be opened without a license from the RBI, and no two banks could have common directors.
Nationalisation
Banks Nationalisation in India: Newspaper Clipping, Times of India, July 20, 1969
Despite the provisions, control and regulations of Reserve Bank of India, banks in India except
the State Bank of India or SBI, continued to be owned and operated by private persons. By the
1960s, the Indian banking industry had become an important tool to facilitate the development of
the Indian economy. At the same time, it had emerged as a large employer, and a debate had
5
ensued about the nationalization of the banking industry. Indira Gandhi, then Prime Minister of
India, expressed the intention of the Government of India in the annual conference of the All
India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalisation." The
meeting received the paper with enthusiasm.
Thereafter, her move was swift and sudden. The Government of India issued an ordinance
('Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969')) and
nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969.
These banks contained 85 percent of bank deposits in the country. Jayaprakash Narayan, a
national leader of India, described the step as a "masterstroke of political sagacity." Within two
weeks of the issue of the ordinance, the Parliament passed the Banking Companies (Acquisition
and Transfer of Undertaking) Bill, and it received the presidential approval on 9 August 1969.
A second dose of nationalization of 6 more commercial banks followed in 1980. The stated
reason for the nationalization was to give the government more control of credit delivery. With
the second dose of nationalization, the Government of India controlled around 91% of the
banking business of India. Later on, in the year 1993, the government merged New Bank of India
with Punjab National Bank. It was the only merger between nationalized banks and resulted in
the reduction of the number of nationalised banks from 20 to 19. After this, until the 1990s, the
nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian
economy.
Liberalisation
In the early 1990s, the then Narasimha Rao government embarked on a policy of liberalization,
licensing a small number of private banks. These came to be known as New Generation techsavvy banks, and included Global Trust Bank (the first of such new generation banks to be set
up), which later amalgamated with Oriental Bank of Commerce, UTI Bank (since renamed Axis
Bank), ICICI Bank and HDFC Bank. This move, along with the rapid growth in the economy of
India, revitalized the banking sector in India, which has seen rapid growth with strong
contribution from all the three sectors of banks, namely, government banks, private banks and
foreign banks.
6
The next stage for the Indian banking has been set up with the proposed relaxation in the norms
for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights
which could exceed the present cap of 10%,at present it has gone up to 74% with some
restrictions.
The new policy shook the Banking sector in India completely. Bankers, till this time, were used
to the 4-6-4 method (Borrow at 4%;Lend at 6%;Go home at 4) of functioning. The new wave
ushered in a modern outlook and tech-savvy methods of working for traditional banks.All this
led to the retail boom in India. People not just demanded more from their banks but also received
more.
Currently (2010), banking in India is generally 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 terms of quality of assets and capital adequacy, Indian banks are considered to
have clean, strong and transparent balance sheets relative to other banks in comparable
economies in its region. The Reserve Bank of India is an autonomous body, with minimal
pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage
volatility but without any fixed exchange rate-and this has mostly been true.
With the growth in the Indian economy expected to be strong for quite some time-especially in
its services sector-the demand for banking services, especially retail banking, mortgages and
investment services are expected to be strong. One may also expect M&As, takeovers, and asset
sales.
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.
In recent years critics have charged that the non-government owned banks are too aggressive in
their loan recovery efforts in connection with housing, vehicle and personal loans. There are
press reports that the banks' loan recovery efforts have driven defaulting borrowers to suicide.
7
Adoption of banking technology
The IT revolution had a great impact in the Indian banking system. The use of computers had led
to introduction of online banking in India. The use of the modern innovation and computerisation
of the banking sector of India has increased many fold after the economic liberalisation of 1991
as the country's banking sector has been exposed to the world's market. The Indian banks were
finding it difficult to compete with the international banks in terms of the customer service
without the use of the information technology and computers.
Number of branches of scheduled banks of India as of March 2005
The RBI in 1984 formed Committee on Mechanisation in the Banking Industry (1984)whose
chairman was Dr C Rangarajan, Deputy Governor, Reserve Bank of India. The major
recommendations of this committee was introducing MICR Technology in all the banks in the
metropolis in India.This provided use of standardized cheque forms and encoders.
In 1988, the RBI set up Committee on Computerisation in Banks (1988) headed by Dr. C.R.
Rangarajan which emphasized that settlement operation must be computerized in the clearing
houses of RBI in Bhubaneshwar, Guwahati, Jaipur, Patna and Thiruvananthapuram.It further
stated
that
there
should
be
National
Clearing
of
inter-city
cheques
at
Kolkata,Mumbai,Delhi,Chennai and MICR should be made Operational.It also focused on
computerisation of branches and increasing connectivity among branches through computers.It
8
also suggested modalities for implementing on-line banking.The committee submitted its reports
in 1989 and computerisation began form 1993 with the settlement between IBA and bank
employees' association.
In 1994, Committee on Technology Issues relating to Payments System, Cheque Clearing and
Securities Settlement in the Banking Industry (1994) was set up with chairman Shri WS Saraf,
Executive Director, Reserve Bank of India. It emphasized on Electronic Funds Transfer (EFT)
system, with the BANKNET communications network as its carrier. It also said that MICR
clearing should be set up in all branches of all banks with more than 100 branches.
Committee for proposing Legislation on Electronic Funds Transfer and other Electronic
Payments (1995) emphasized on EFT system. Electronic banking refers to DOING BANKING
by using technologies like computers, internet and networking,MICR,EFT so as to increase
efficiency, quick service,productivity and transparency in the transaction.
9
CHAPTER NO. 2
PROFILE OF AXIS BANK
A. Background of Axis Bank
1993
The Bank was incorporated on 3rd December and Certificate of business on 14th December. The
Bank transacts banking business of all description. UTI Bank Ltd. was promoted by Unit Trust
of India, Life Insurance Corporation of India, General Insurance Corporation of India and its four
subsidiaries.
The bank was the first private sector bank to get a license under the new guidelines issued by the
RBI.
1997
The Bank obtained license to act as Depository Participant with NSDL and applied for
registration with SEBI to act as `Trustee to Debenture Holders'.
Rupees 100 crores was contributed by UTI, the rest from LIC Rs 7.5 crores, GIC and its four
subsidiaries Rs 1.5 crores each.
1998
The Bank has 28 branches in urban and semi urban areas as on 31st July. All the branches are
fully computerised and networked through VSAT. ATM services are available in 27 branches.
The Bank came out with a public issue of 1,50,00,000 No. of equity shares of Rs 10 each at a
premium of Rs 11 per share aggregating to Rs 31.50 crores and Offer for sale of 2,00,00,000 No.
of equity shares for cash at a price of Rs 21 per share. Out of the public issue 2, 20,000 shares
were reserved for allotment on preferential basis to employees of UTI Bank. Balance of 3, 47,
80,000 shares were offered to the public.
The company offers ATM cards, using which account-holders can withdraw money from any of
the bank's ATMs across the countries which are inter-connected by VSAT.
10
UTI Bank has launched a new retail product with operational flexibility for its customers.
UTI Bank will sign a co-brand agreement with the market, leader, Citibank NA for entering into
the highly promising credit card business.
UTI Bank promoted by India's pioneer mutual fund Unit Trust of India along with LIC, GIC and
its four subsidiaries.
1999
UTI Bank and Citibank have launched an international co-branded credit card.
UTI Bank and Citibank have come together to launch an international co-branded credit card
under the MasterCard umbrella.
UTI Bank Ltd has inaugurated an offsite ATM at Ashok Nagar here, taking the total number of
its offsite ATMs to 13.m
2000
The Bank has announced the launch of Tele-Depository Services for its depository clients.
UTI Bank has launch of `iConnect', its Internet banking Product.
UTI Bank has signed a memorandum of understanding with equitymaster.com for e-broking
activities of the site.
Infinity.com financial Securities Ltd., an e-broking outfit is typing up with UTI Bank for a
banking interface.
Geojit Securities Ltd, the first company to start online trading services, has signed a MoU with
UTI Bank to enable investors to buy\sell demat stocks through the company's website.
Indiabulls has signed a memorandum of understanding with UTI Bank.
UTI Bank has entered into an agreement with Stock Holding Corporation of India for providing
loans against shares to SCHCIL's customers and funding investors in public and rights issues.
11
ICRA has upgraded the rating og UTI Bank's Rs 500-crore certificate of deposit programme to
A1+.
UTI Bank has tied up with L&T Trade.com for providing customised online trading solution for
brokers.
2001
UTI Bank launched a private placement of non-convertible debentures to raise up to Rs 75 crore.
- UTI Bank has opened two offsite ATMs and one extension counter with an ATM in
Mangalore, taking its total number of ATMs across the country to 355.
UTI Bank has recorded a 62 per cent rise in net profit for the quarter ended September 30, 2001,
at Rs 30.95 crore. For the second quarter ended September 30, 2000, the net profit was Rs 19.08
crore. The total income of the bank during the quarter was up 53 per cent at Rs 366.25 crore.
2002
UTI Bank Ltd has informed BSE that Shri B R Barwale has resigned as a Director of the Bank
w.e.f. January 02, 2002. A C Shah, former chairman of Bank of Baroda, also retired from the
bank’s board in the third quarter of last year. His place continues to be vacant. M Damodaran
took over as the director of the board after taking in the reins of UTI. B S Pandit has also joined
the bank’s board subsequent to the retirement of K G Vassal.
UTI Bank Ltd has informed that Shri Paul Fletcher has been appointed as an Additional Director
Nominee of CDC Financial Service (Mauritius) Ltd of the Bank.And Shri Donald Peck has been
appointed as an Additional Director (nominee of South Asia Regional Fund) of the Bank.
UTI Bank Ltd has informed that on laying down the office of Chairman of LIC on being
appointed as Chairman of SEBI, Shri G N Bajpai, Nominee Director of LIC has resigned as a
Director of the Bank.
2002
B Paranjpe & Abid Hussain cease to be the Directors of UTI Bank.
12
UTI Bank Ltd has informed that in the meeting of the Board of Directors following decisions
were taken: Mr Yash Mahajan, Vice Chairman and Managing Director of Punjab Tractors Ltd
was appointed as an Additional Director with immediate effect. Mr N C Singhal former Vice
Chairman and Managing Director of SCICI was appointed as an Additional Director with
immediate effect.
ABN Amro, UTI Bank in pact to share ATMs.
UTI Bank Ltd has informed BSE that a meeting of the Board of Directors of the Bank is
scheduled to be held on October 24, 2002 to consider and take on record the unaudited half
yearly/quarterly financial results of the Bank for the half year/Quarter ended September 30,
2002.
UTI Bank Ltd has informed that Shri J M Trivedi has been appointed as an alternate director to
Shri Donald Peck with effect from November 2, 2002.
2003
-UTI Bank Ltd has informed BSE that at the meeting of the Board of Directors of the company
held on January 16, 2003, Shri R N Bharadwaj, Managing Director of LIC has been appointed as
an Additional Director of the Bank with immediate effect.
UTI Bank, the private sector bank has opeaned a branch at Nellore. The bank's Chairman and
Managing Director, Dr P.J. Nayak, inaugurating the bank branch at GT Road on May 26.
Speaking on the occasion, Dr Nayak said, "This marks another step towards the extensive
customer banking focus that we are providing across the country and reinforces our commitment
to bring superior banking services, marked by convenience and closeness to customers.
UTI Bank Ltd. has informed the Exchange that at its meeting held on June 25, 2003 the BOD
have decided the following: 1) To appoint Mr. A T Pannir Selvam, former CMD of Union Bank
of India and Prof. Jayanth Varma of the Indian Institute of Management, Ahmedabad as
additional directors of the Bank with immediate effect. Further, Mr. Pannir Selvam will be the
nominee director of the Administrator of the specified undertaking of the Unit Trust of India
(UTI-I) and Mr. Jayanth Varma will be an Independent Director. 2) To issue Non-Convertible
13
Unsecured Redeemable Debentures upto Rs.100 crs, in one or more tranches as the Bank's Tier II capital.
UTI has been authorised to launch 16 ATMs on the Western Railway Stations of Mumbai
Division.
UTI filed suit against financial institutions IFCI Ltd in the debt recovery tribunal at Mumbai to
recover Rs.85cr in dues.
UTI bank made an entry to the Food Credit Programme, it has made an entry into the 59 cluster
which includes private sector, public sector, old private sector and co-operative banks.
Shri Ajeet Prasad, Nminee of UTI has resigned as the director of the bank.
Banks Chairman and MD Dr.P.J.Nayak inaugurated a new branch at Nellore.
UTI bank allots shares under Employee Stock Option Scheme to its employees.
Unveils pre-paid travel card 'Visa Electron Travel Currency Card'
Allotment of 58923 equity shares of Rs 10 each under ESOP.
UTI Bank ties up with UK govt fund for contract farming
Shri B S Pandit, nominee of the Administrator of the Specified Undertaking of the Unit Trust of
India (UTI-I) has resigned as a director from the Bank wef November 12, 2003.
UTI Bank unveils new ATM in Sikkim
2004
Comes out with Rs. 500 mn Unsecured Redeemable Non-Convertible Debenture Issue, issue
fully subscribed
UTI Bank Ltd has informed that Shri Ajeet Prasad, Nominee of the Administrator of the
Specified Undertaking of the Unit Trust of India (UTI - I) has been appointed as an Additional
Director of the Bank w.e.f. January 20, 2004.
14
UTI Bank opens new branch in Udupi
UTI Bank, Geojit in pact for trading platform in Qatar
UTI Bank ties up with Shriram Group Cos
Unveils premium payment facility through ATMs applicable to LIC & UTI Bank customers
Metaljunction (MJ)- the online trading and procurement joint venture of Tata Steel and Steel
Authority of India (SAIL)- has roped in UTI Bank to start off own equipment for Tata Steel.
DIEBOLD Systems Private Ltd, a wholly owned subsidiary of Diebold Incorporated, has secured
a major contract for the supply of ATMs and services to UTI Bank
HSBC completes acquisition of 14.6% stake in UTI Bank for $67.6 m
UTI Bank installs ATM in Thiruvananthapuram
Launches `Remittance Card' in association with Remit2India, a Web site offering money-transfer
services
2005
UTI Bank enters into a bancassurance partnership with Bajaj Allianz General for selling general
insurance products through its branch network.
UTI Bank launches its first Satellite Retail Assets Centre (SRAC) in Karnataka at Mangalore.
2006
UTI Bank unveils priority banking lounge
UTI Bank launches operations of UBL Sales, its Sales Subsidiary - Inaugurates its first office in
Bengaluru
UTI Bank announces the launch of its Credit Card Business
UTI Bank becomes the first Indian Bank to successfully issue Foreign Currency Hybrid Capital
in the International Market
15
UTI Bank Business Gold Debit Card MasterCard Launched - Designed for business related
spending by SMEs and self employed professionals
2007
AXIS Bank Ltd has informed that consequent upon handing over charge as Administrator of the
Specified Undertaking of the Unit Trust of India (SUUTI), Shri. S B Mathur, the Nominee
Director of SUUTI has resigned as a Director of the Bank w.e.f. December 06, 2007.
AXIS Bank Ltd has informed that Fitch Ratings on December 14, 2007, has upgraded the Bank's
National Long-term rating to 'AAA(ind)' from 'AA+(ind)'.
AXIS Bank Ltd hasappointed Shri K N Prithviraj as an Additional Director on the Board at
Directors of the Bank.
Company name has been changed from UTI Bank Ltd to Axis Bank Ltd.
2008
Axis Bank launches Platinum Credit Card, India's first EMV chip based card
Axis Bank set up its branch at Ilanji at Meenakshi Nagar on the Coutralam-Madurai road on
April 16.
2009
Axis Bank today said its board has recommended the appointment of Shikha Sharma, currently
chief of ICICI group's life insurance business, as its next managing director and CEO.
Axis Bank has set up a new branch at Perumbavoor. The bank has a network of 832 branches
along with 8 extension counters and 3622 ATMs across the country.
Axis Bank, on Wednesday entered into a strategic alliance with Motilal Oswal, the financial
services firm, in order to facilitate the online trading for the bank's customers.
AXIS Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on June
01, 2009, inducted Smt. Shikha Sharma as an Additional Director of the Bank.
16
Axis bank has received final clearance from the Securities and Exchange Board of India (SEBI)
to begin its mutual fund operations and will launch debt and equity schemes soon whereas IDBI
Bank is awaiting the regulator's permit for an entry.
Axis Bank opened the new branch at Irinjalakuda while it has a network of 892 branches, 8
extension counters and 3,806 ATMs across the country.
2010
Axis Bank Limited has informed that at the meeting of the Board of Directors held on January
15, 2010, the following decisions were taken: (1) To appoint Dr. Adarsh Kishore, former Finance
Secretary, Government of India and former Executive Director, International Monetary Fund
representing Bangladesh, Bhutan, India and Sri Lanka, as the Non-Executive Chairman of the
Bank, subject to RBI approval; (2) To appoint Shri S.B. Mathur, former Chairman, LIC and the
National Stock Exchange of India, as an Additional Independent Director, with immediate effect.
AXIS Bank Ltd has appointed Shri M. S. Sundara Rajan, former CMD, Indian Bank as an
Additional Independent Director with immediate effect.
Axis bank acquires 4 percent stake in Max New York Life
Axis Bank has bought a property in central Mumbai from Bombay Dyeing where it will shift its
corporate headquarters. Its worth Rs.782 crore.
Axis Bank is acquiring investment banking and securities unit of Enam Securities Pvt Ltd in an
all stock deal for Rs.2,067 Cr (around $456 Mn) in order to expand its broking and investment
banking business.
2011
Axis Bank launches online trading platform AxisDirect
Axis Bank has launches pre-paid VISA card i.e. MY MONEY CARD.
Axis Bank opens new representative office in Abu Dhabi
17
2012
Axis Bank partners with NIIT IFBI to introduce PG Diploma in Retail Banking.
Axis Bank inducts Schroders as a 25% partner in Axis AMC.
Axis Bank, Axis Capital, joined hands with Baird, an international, employee-owned financial
services firm, to ofer investment banking services.
B. Nature of The Business Carried
RETAIL BANKING
Axis Bank has developed a strong retail banking franchise over the years. Retail Banking is one
of the key drivers of the Bank’s growth strategy and it encompasses a wide range of products
delivered to customers through multiple channels. The Bank offers a complete suite of products
across deposits, loans, investment solutions, payments and cards to help customers achieve their
financial objectives. The Bank focuses on product differentiation as well as a high level of
customer-service to enable it to build its retail business.
The Bank has continued to develop its risk management capabilities in Retail business, both
from a credit and operations risk standpoint. The branch channel is effectively utilised for
growing the retail assets business, with loan and card products being offered to existing clientele.
The growth areas identified by the Bank are in the areas of residential mortgages and passenger
car loans. Of the total retail loans portfolio, 88.47% is in the form of secured loans (residential
mortgages and auto loans).
The Bank offers a wide range of payment solutions to its customers in the form of debit cards,
prepaid cards and credit cards. As on 31st March 2012, the Bank has a base of approximately
124.99 lac debit cards, placing it among the leading players in the country. The Bank is also a
dominant player in prepaid cards.Axis Bank has over 2 lakh installed EDC machines - a highest
for any bank in India.
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Axis Bank Privée’, an exclusive private banking service offers advisory, investment and lending
solutions to its customers across 10 cities in the country. Privée follows a client-focused
investment process and a team-based approach for managing client relationships. The
relationship management team is supported by a team of product specialists, client servicing
teams, investment consultants and research experts. The private banking business focuses on
addressing both the personal and corporate advisory needs of an entrepreneur or business family
by bringing solutions offered by various business groups across the retail and corporate
businesses within the Bank under an integrated platform.
The Bank launched ‘Axis Bank Wealth’ in 2008-09 targeting customers who have a total
relationship value with the Bank of between Rs.30 lacs and Rs.200 lacs. The value proposition
aims at delivering a ‘One Bank’ experience to such customers and is positioned as a complete
solution involving banking, investment and asset needs.
The Bank also distributes third party products such as mutual funds, Bancassurance products
(life and general insurance), online trading, Goldand Silver coins through its branches.
The retail business of the Bank is supported by innovative services and alternate channels which
provide convenience of transactions to customers. These channels include an extensive ATM
network, internet banking, mobile banking and phone banking.
INTERNATIONAL RETAIL
International Retail Business focuses specifically on the overseas sales channel, retail foreign
exchange business, remittances and retail businesses in overseas centres such as Hong Kong and
Sri Lanka, where the Bank has a presence. The products offered in the area of retail Forex and
remittances include travel currency cards, inward and outward wire transfers, traveller’s cheques
and foreign currency notes, remittance facilities through online portals as well as through
collaboration with correspondent banks, exchange houses and money transfer operators. The
Bank continued to have a market leadership position in Travel Currency Cards with 11 currency
options other than INR being offered. The aggregate spends on Travel Currency Cards have
crossed USD 3 billion during the year 2012-13.
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BUSINESS BANKING
Business Banking leverages the Bank’s strengths – a well distributed network of branches and a
strong technology platform to offer the best in transaction banking services. The Bank offers a
range of current account products and cash management solutions across all business segments
covering corporates, institutions, central and state government ministries and undertakings as
well as small and retail customers.
The Bank is one of the top CMS providers in the country. The Bank acts as an agency bank for
transacting government business offering services to various Central Government Ministries /
Departments and other State Governments and Union Territories.
In order to provide solutions for business to effectively manage their funds flow, the Bank has
introduced liquidity management solution for corporate customers. Similarly, a single window
for all payment requirements was launched with several advanced features such as setting a daily
transaction limit for corporate users, setting transaction limits for individual beneficiaries,
prioritising payment methods, online stop payment and cancellation facilities.
CORPORATE CREDIT
Axis Bank has built a strong corporate banking franchise across corporate, liability and asset
businesses. Axis Bank provides customized structuring and financing solutions in a timely and
comprehensive manner to its corporate customers with a focus on building out a high quality
credit portfolio. The Bank is a market leader in Debt Capital Markets and loan syndication
business across segments, sectors and geographies. The Bank also provides full range of
Treasury and Trade Finance solutions to its corporate clients. The Bank offers technology
enabled transaction banking and cash management services to customers across Government,
financial institutions and corporate segments.
Bank’s infrastructure business includes project and bid advisory services, project lending, debt
syndication, project structuring and due diligence, securitisation and structured finance. During
the year the Bank launched its first ever ‘D&B-Axis Bank Infra Awards 2011’ in association
with Dun & Bradstreet. The award felicitates leading infrastructure projects and infrastructure
20
companies. In October 2010, the Bank launched the Axis Infra Index (AII) with the primary
objective of conveying a sense of investment conditions in the infrastructure sector. The Index,
as a composite measure of investor confidence, comprises four components: flow of equity and
debt funds into infrastructure sectors, project completion and commencement of operations,
output related to infrastructure segments and regulatory and policy developments relevant for the
sector. It is designed to capture the evolving fundamentals of the sector and is updated and
disseminated on a quarterly basis.
TREASURY
The Bank has an integrated Treasury, covering both domestic and global markets, which
manages the Bank’s funds across geographies. The Bank’s treasury business has grown
substantially over the years, gaining market share and continuing to be among the top five banks
in terms of forex revenues. The Treasury plays an important role in the sovereign debt markets
and participates in the primary auctions held by RBI. It also actively participates in the secondary
government securities and corporate debt market. The foreign exchange and money markets desk
is an active participant in the inter-bank/ FI space. The Bank has been exploring various crossborder markets to augment resources and support customer cross-border trade. The Bank has
emerged as one of the leading providers of foreign exchange and trade finance services. It
provides a gamut of products for exports and imports as well as retail services. Its cutting edge
technology provides comprehensive and timely customer services.
INTERNATIONAL BANKING
The international operations of the Bank form a key enabler in its strategy to partner with the
overseas growth potential of its domestic clientele, who are venturing abroad or require nonrupee funds for domestic projects. The Bank now has a foreign network of four branches
(Singapore, Hong Kong, DIFC (Dubai) and Colombo (Sri Lanka)) and three representative
offices (Shanghai, Dubai and Abu Dhabi) with presence in six countries. While corporate
banking, trade finance, treasury and risk management solutions are the primary offerings through
the branches at Singapore, Hong Kong, DIFC (Dubai) and Colombo, the Bank also offers retail
liability products from its branches at Hong Kong and Colombo. Further, the Bank’s Gulf Cooperation Council (GCC) initiatives in the form of representative offices in Dubai and Abu
21
Dhabi, and alliances with banks and exchange houses in the Middle East provide the support for
leveraging the business opportunities emanating from the large NRI diaspora present in these
countries.
SMALL AND MEDIUM ENTERPRISES
The Small and Medium Enterprises (SME) segment is a thrust area of the Bank. The business
approach towards this segment, which is expected to contribute significantly to economic growth
in future, is to build relationships and nurture the entrepreneurial talent available. The
relationship based approach enables the Bank to deliver value through the entire life cycle of
SMEs. The Bank has segmented its SME business in three groups: Small Enterprises, Medium
Enterprises and Supply Chain Finance. The Bank extends working capital, project finance as
well as trade finance facilities to SMEs. The Bank has launched ‘Business Gaurav SME Awards’
in association with Dun & Bradstreet to recognise and award achievers in the SME space.
INFORMATION TECHNOLOGY
Technology is one of the key enablers for business and delivery of customised financial
solutions. The Bank continues to focus on introducing innovative banking services through
investments in scalable and robust technology platforms that delivers efficient and seamless
services across multiple channels for customer convenience and cost reduction. The Bank has
also focused on improving the governance process in IT. The Bank has launched the Business
Process Management System, a reusable system, which helps to build process efficiencies across
various areas of operations.
The Bank has undertaken various steps in order to align itself towards RBI guidelines on security
and governance, including setting up of Board and Executive level committees and working on
IT operations and other key areas.
AGRICULTURE
The Bank continues to drive and expand the flow of credit to the agricultural sector. 401
branches of the Bank have dedicated officers for providing farm loans. Products and solutions
are created specifically with simple features and offered at affordable rates to rural customers.
22
The Bank has also adopted a value-chain approach, wherein end-to-end solutions are being
provided for various stakeholders. It also offers various customized solutions to meet the
regional requirements.
FINANCIAL INCLUSION
The Bank perceives financial inclusion (FI) not as a corporate social responsibility or a regulator
driven initiative but as a large business opportunity that lies untapped in the rural and unexplored
section of the urban market. Till March 2012, the Bank has opened over 4.4 million No-Frills
accounts in over 7,607 villages through a network of 15 Business Correspondents and nearly
6,000 customer service points. The Bank has a strong presence in the Electronic Benefit Transfer
(EBT) space and has covered around 6,800 villages across 19 districts and 9 states till date with
over 3.7 million beneficiaries.
In the urban space, the Bank has launched financial inclusion initiatives in Bangalore, Chennai
and Delhi targeting migrant labourers, slum dwellers and other under-banked sector of the urban
population and has opened over 3.5 lac No Frill accounts. The Bank’s financial inclusion efforts
are not merely restricted to launching of financial inclusion initiatives and sourcing basic No
Frill accounts, but to also promote the savings habits and enable the customers to obtain
customized solutions for their financial needs.
The Bank also has a range of other customised products for this customer segment like different
variants of Axis Uday No Frills Savings Accounts, Chhota RD, Chhota FD, and Chhota SIP. The
Bank has been one of the first few banks to have tied-up with telecom companies to offer
remittance led financial inclusion services on the mobile platform.
HUMAN RESOURCES
The Bank aims in creating and developing human capital to realise its vision of nurturing a
mutually beneficial relationship with its employees. Employee engagement and learning,
leadership development, enhancing productivity and building multiple communication platforms
thus occupied centre stage in the Bank’s HR objective. The Bank continues to maintain a strong
employer brand in the financial services sector especially on the campuses of the premier
23
business schools of the country. In a major initiative, the Bank launched Axis Academic
Interface Program (AAIP) with Institutions to offer youngsters an understanding about the
financial services industry, and creating ‘Axis Bankers’. So far, the Bank has tied up with
Manipal University, NIIT, IFBI andGuwahati University.
Axis Bank has a young workforce with an average age of 29 years. The equal opportunity
employer policy of the Bank contributes strongly to the Axis Bank brand.
C. Vision, Mission and quality Policy
Vision 2015
To be the preferred financial solutions provider excelling in customer delivery through insight,
empowered employees and smart use of technology
Core Values

Customer Centricity

Ethics

Transparency

Teamwork

Ownership
24
D. Board of Directors
ADARSH KISHORE (CHAIRMAN)
SHIKHA SHARMA (MD & CEO)
K. N. Prithviraj (Director)
V. R. Kaundinya (Director)
25
S. B. Mathur (Director)
Prasad Menon (Director)
Rabindranath Bhattacharyya (Director)
Prof. Samir K Barua (Director)
26
E. AWARDS AND RECOGNITION
2012
1. Best Bank - CNBC- TV18 India’s Best Bank and Financial Institution Awards 2012
2. Consistent Performer - India’s Best Banks – 2012 survey by Business Today &
KPMG
3. Fastest Growing Large Bank - Dun & Bradstreet-Polaris Financial Technology
Banking Awards 2012
4. Fastest Growing Large Bank – Business world Best Banks Survey 2012
5. Best Bank - Runner Up - Outlook Money Awards 2012
6. Deal Maker of the Year in Rupee Bonds – Business world Magna Awards - India's
Best Deal Makers 2012
7. India Bond House of the year - IFR ASIA - Country Awards 2012
8. Best Domestic Bond House - The Asset Triple A Country Awards 2012 - Our Bank
has been honored with this award for the Third year in a row.
9. The Best Emerging Bullion Dealing Bank of the year 2011-12 at 9th India
International Gold Convention
10. Best Acquiring Institution in South Asia- Visa LEADER Award at Visa’s 2012
APCEMEA Security, Summit, Bali.
2011
1. Bank of the Year – India –The Banker Awards 2011
2. Best Bank in the Private Sector - NDTV Profit Business Leadership Awards 2011
3. Best Bank - Outlook Money Awards 2011
4. The Best Domestic Bank – India - The Asset Triple A Country Awards 2011
5. Fastest Growing Bank - Bloomberg UTV Financial Leadership Awards 2012
6. Most Productive Private Sector Bank- FIBAC 2011 Banking Awards
7. 3rd Strongest Bank in Asia -Pacific Region by Asian Banker
8. Brand Excellence Award- 2011(BFSI Sector) - Star News
9. Most Preferred Bank amongst retail consumers - CLSA survey on personal banking
trends
27
10. Best Bond House India - 2011 by Finance Asia
11. Best Risk Master award - (Private Sector Category) – FIBAC 2011 Banking Awards
2010
1. Best Debt House in India - Euromoney 2010
2. Best Domestic Debt House in India - Asiamoney 2010
3. Best Bond House in India - Financeasia 2010
4. Best New Private Sector Bank, Rank 2 - FE Best Banks Award 2010
5. The Best of Asia-Pacific’s Biggest Listed Companies- second year in a row - Forbes Fab
50
6. The AssetAwards 2010:Best Domestic Bank, India
7. The AssetAwards 2010:Best Domestic Bond House, India
8. Overall Winner & Consistent Performer -(Large Banks Category) - Business Today Best
Bank Awards 2010
9. Fastest Growing Large Bank - Business World’s Best Banks Award 2010
10. Ranked No. 1 in "overall experience with bank staff" and "overall branch facilities" by
The Hindustan Times-MaRS Survey Report dated, 29th March, 2010
28
(PART-II)
CHAPTER NO. 1
INTRODUCTION
 OBJECTIVES OF STUDY
 RESEARCH METHODOLOGY
 LIMITATION
29
OBECTIVES OF THE STUDY
I.
Primary Objectives.

The main objectives of the study are to find whether the employees are satisfied in
general.
II.

To find the working condition and the facilities provided by the company.

To study the function of Human Resource Manager in the company.
Secondary Objectives

To study about the training programme conducted by the company.

To find whether there were a healthy relationship between the subordinates
and supervisors.

To find out benefits given to the employees other than salary or wages.

To study the workers problem in the company.

To analyze the personal Management.
30
RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the problem. In my research work
various steps where adopted to study the problem. The Research methodology includes
description about why the research study has been undertaken. So by framing a right
methodology it is possible to gain a deeper insight in to the research problem also to give a full
proof for action plan for carrying out the project successfully.
1. Statement of problem
The particular topic is chosen because job satisfaction exercises a potential influence on
employee productivity and human relation climate in an organization. The project is aimed at
understanding the satisfaction of employees relating to their job. Their working condition their
supervisors, their fellow workers their payment and overall organization.
2. Purpose of study
a. The purpose of doing this project is to find whether the employees are satisfied in
general.
b. The type of training programs given to the workers and to find out whether there
where a healthy relation between the workers.
3. Scope of study
The study is conducted for Axis Bank to find out the job satisfaction of employees.
The study also covers the tools which increase the productivity and find out the
benefits other than salary which receives by the employees.
4. Questionnaire design
The questionnaire was prepared after gathering primary information about the current
motivation system and techniques in the organization.
5. Nature of Data
The data where collected both primary and secondary sources. The primary
source consists of information arrived from employees through interview
schedule. The secondary source includes company records books, manual etc.
31
6. Method of data collection
The data where collected from employees through a structured questionnaire and
interview schedule.
7. Sampling plan
1. Sampling unit.
The universe of the study consists of factory workers belonging to the
different section of manufacturing process.
2.
Sample size:The sample size is 100
3. Sampling method
The sampling method is used from the study is random sampling.
Different data where identified and samples has been taken.
4. Tools of analysis
The data was analyzed by applying the percentage analysis as the
statistical tool.
32
LIMITATION
2. The employees were engaged in their work. So we cannot use more time to get a
correct feedback.
3. The working place was noisy so there will not conduct effective communication with
workers.
4. Some of employees are newly joined in the company. Hence they did not give correct
feedback about overtime work.
5. The figures used for analysis have been taken from annual report of Axis Bank. The
data contained in the records are historical and does not take into account the
fluctuation in the value of money caused by inflation.
33
CHAPTER NO. 2
2.1 INTRODUCTION OF JOB SATISFACTION:-
Job satisfaction in regards to one’s feeling or state of mind regarding nature of their work. Job
can be influenced by variety of factors like quality of one’s relationship with their supervisor,
quality of physical environment in which they work, degree of fulfillment in their work, etc.
Positive attitude towards job are equivalent to job satisfaction where as negative attitude towards
job has been defined variously from time to time.
In short job satisfaction is a person’s attitude
towards job.
Job satisfaction is an attitude which results from balancing & summation of many specific likes
and dislikes experienced in connection with the job- their evaluation may rest largely upon one’s
success or failure in the achievement of personal objective and upon perceived combination of
the job and combination towards these ends.
According to pestonejee, Job satisfaction can be taken as a summation of employee’s feelings in
four important areas. These are:
34
1. Job-nature of work (dull, dangerous, interesting), hours of work, fellow workers,
opportunities on the job for promotion and advancement (prospects), overtime
regulations, interest in work, physical environment, and machines and tools.
2. Management- supervisory treatment, participation, rewards and punishments, praises and
blames, leaves policy and favoritism.
3. Social relations- friends and associates, neighbors, attitudes towards people in
community, participation in social activity socialibility and caste barrier.
4. Personal adjustment-health and emotionality.
Job satisfaction is an important indicator of how employees feel about their job and a predictor of
work behavior such as organizational citizenship, Absenteeism, Turnover. Job satisfaction
benefits the organization includes reduction in complaints and grievances, absenteeism, turnover,
and termination; as well as improved punctuality and worker morale. Job satisfaction is also
linked with a healthier work force and has been found to be a good indicator of longevity.
Job satisfaction is not synonyms with organizational morale, which the possessions of feeling
have being accepted by and belonging to a group of employees through adherence to common
goals and confidence in desirability of these goals.
Morale is the by-product of the group, while job satisfaction is more an individual state of mind.
Objective of the study
The objective of the study is as follows
 To assess the satisfaction level of employees in JSPL.
 To identify the factors which influence the job satisfaction of employees.
 To identify the factor which improves the satisfaction level of employees.
 To know the employee satisfaction towards the facilities.
 To offer valuable suggestions to improve the satisfaction level of employees.
35
Scope of the study
This study emphasis in the following scope:
 To identify the employees level of satisfaction upon that job.
 This study is helpful to that organisation for conducting further research.
 It is helpful to identify the employer’s level of satisfaction towards welfare measure.
 This study is helpful to the organization for identifying the area of dissatisfaction of job
of the employees.
2.2 DEFINITIONS OF JOB SATISFACTION
Different authors give various definitions of job satisfaction. Some of them are taken from the
book of D.M. Pestonjee “Motivation and Job Satisfaction” which are given below:
Job satisfaction is defined as a pleasurable, emotional, state resulting from appraisal of one’s job.
An effective reaction to one’s job.
By Weiss
Job satisfaction is general attitude, which is the result of many specific attitudes in three areas
namely:
Specific job factors
Individual characteristics
Group relationship outside the job
By Blum and Naylor
36
Job satisfaction is defined, as it is result of various attitudes the person hold towards the job,
towards the related factors and towards the life in general.
By Glimmer
Job satisfaction is defined as “any contribution, psychological, physical, and environmental
circumstances that cause a person truthfully say, ‘I am satisfied with my job.”
Job satisfaction is defined, as employee’s judgment of how well his job on a whole is satisfying
his various needs
By Mr. Smith
Job satisfaction is defined as a pleasurable or positive state of mind resulting from appraisal of
one’s job or job experiences.
By Locke
37
2.3 HISTORY OF JOB SATISFACTION
The term job satisfaction was brought to lime light by hoppock (1935). He revived 35 studies on
job satisfaction conducted prior to 1933 and observes that Job satisfaction is combination of
psychological, physiological and environmental circumstances. That causes a person to say. “I m
satisfied with my job”. Such a description indicate the variety of variables that influence the
satisfaction of the individual but tell us nothing about the nature of Job satisfaction.
Job satisfaction has been most aptly defined by pestonjee (1973) as a job, management, personal
adjustment & social requirement. Morse (1953) considers Job satisfaction as dependent upon job
content, identification with the co., financial & job status & priding group cohesiveness
One of the biggest preludes to the study of job satisfaction was the Hawthorne study. These
studies (1924-1933), primarily credited to Elton Mayo of the Harvard Business School, sought to
find the effects of various conditions (most notably illumination) on workers’ productivity.
These studies ultimately showed that novel changes in work conditions temporarily increase
productivity (called the Hawthorne Effect). It was later found that this increase resulted, not from
the new conditions, but from the knowledge of being observed.
38
This finding provided strong evidence that people work for purposes other than pay, which
paved the way for researchers to investigate other factors in job satisfaction.
Scientific management (aka Taylorism) also had a significant impact on the study of job
satisfaction. Frederick Winslow Taylor’s 1911 book, Principles of Scientific Management,
argued that there was a single best way to perform any given work task. This book contributed to
a change in industrial production philosophies, causing a shift
from skilled labor and piecework towards the more modern approach of assembly lines and
hourly wages.
The initial use of scientific management by industries greatly increased productivity because
workers were forced to work at a faster pace. However, workers became exhausted and
dissatisfied, thus leaving researchers with new questions to answer regarding job satisfaction.
It should also be noted that the work of W.L. Bryan, Walter Dill Scott, and Hugo Munsterberg
set the tone for Taylor’s work.
Some argue that Maslow’s hierarchy of needs theory, a motivation theory, laid the foundation for
job satisfaction theory. This theory explains that people seek to satisfy five specific needs in life
– physiological needs, safety needs, social needs, self-esteem needs, and self-actualization. This
model served as a good basis from which early researchers could develop job satisfaction
theories.
2.4. IMPORTANCE OF JOB SATISFACTION
 Job satisfaction is an important indicator of how employees feel about their job and a
predictor of work behavior such as
organizational, citizenship, Absenteeism, Turnover.
 Job satisfaction can partially mediate the relationship of personality variables and deviant
work behavior.
 Common research finding is that job satisfaction is correlated with life style.
This correlation is reciprocal meaning the people who are satisfied with the life tends to
be satisfied with their jobs and the people who are satisfied their jobs tends to satisfied
with their life.
39
 This is vital piece of information that is job satisfaction and job performance is directly
related to one another. Thus it can be said that, “A happy worker is a productive worker.”
 It gives clear evidence that dissatisfied employees skip work more often and more like to
resign and satisfied worker likely to work longer with the organization.
2.5 IMPORTANCE TO WORKER AND ORGANIZATION
Job satisfaction and occupational success are major factors in personal satisfaction, self-respect,
self-esteem, and self-development. To the worker, job satisfaction brings a pleasurable emotional
state that can often leads to a positive work attitude. A satisfied worker is more likely to be
creative, flexible, innovative, and loyal.
For the organization, job satisfaction of its workers means a work force that is motivated and
committed to high quality performance. Increased productivity- the quantity and quality of
output per hour worked- seems to be a byproduct of improved quality of working life. It is
important to note that the literature on the relationship between job satisfaction and productivity
is neither conclusive nor consistent.
However, studies dating back to Herzberg’s (1957) have shown at least low correlation between
high morale and high productivity and it does seem logical that more satisfied workers will tend
to add more value to an organization.
40
Unhappy employees, who are motivated by fear of loss of job, will not give 100 percent of their
effort for very long. Though fear is a powerful motivator, it is also a temporary one, and also as
soon as the threat is lifted performance will decline.
Job satisfaction benefits the organization includes reduction in complaints and grievances,
absenteeism, turnover, and termination; as well as improved punctuality and worker morale. Job
satisfaction is also linked with a healthier work force and has been found to be a good indicator
of longevity.
Although only little correlation has been found between job satisfaction and productivity, Brown
(1996) notes that some employers have found that satisfying or delighting employees is a
prerequisite to satisfying or delighting customers, thus protecting the “bottom line”
2.6. WORKERS ROLE IN JOB SATISFACTION
If job satisfaction is a worker benefit, surely the worker must be able to contribute to his or her
own satisfaction and well being on the job. The following suggestions can help a worker find
personal job satisfaction: Seek opportunities to demonstrate skills and talents. This often leads to
more challenging work and greater responsibilities, with attendant increases in pay and other
recognition.
Develop excellent communication skills. Employer’s value and rewards excellent reading,
listening, writing and speaking skills.
Know more. Acquire new job related knowledge that helps you to perform tasks more efficiently
and effectively. This will relive boredom and often gets one noticed.
Demonstrate creativity and initiative. Qualities like these are valued by most organizations and
often results in recognition as well as in increased responsibilities and rewards.
Develop teamwork and people skills. A large part of job success is the ability to work well with
others to get the job done.
Accept the diversity in people. Accept people with their differences and their imperfections and
learn how to give and receive criticism constructively.
41
See the value in your work. Appreciating the significance of what one does can lead to
satisfaction with the work itself. This help to give meaning to one’s existence, thus playing a
vital role in job satisfaction.
Learn to de-stress. Plan to avoid burn out by developing healthy stress management techniques.
2.7 FACTORS OF JOB SATISFACTION
Hoppock, the earliest investigator in this field, in 1935 suggested that there are six major
components of job satisfaction. These are as under:

The way the individual reacts to unpleasant situations,

The facility with which he adjusted himself with other person

The relative status in the social and economic group with which he identifies himself

The nature of work in relation to abilities, interest and preparation of worker

Security

Loyalty
Herberg, mausaer, Peterson and capwell in 1957 reviewed more than 150 studies and listed
various job factors of job satisfaction. These are briefly defined one by one as follows:

Intrinsic aspect of job:- It includes all of the many aspects of the work, which would
tend to be constant for the work regardless of where the work was performed.

Supervision ;- This aspect of job satisfaction pertains to relationship of worker with his
immediate superiors. Supervision, as a factor, generally influences job satisfaction.

Working conditions:- This includes those physical aspects of environment which are not
necessary a part of the work. Hours are included this factor because it is primarily a
function of organization, affecting the individuals comfort and convenience in much the
same way as other physical working conditions.

Wage and salaries:- This factor includes all aspect of job involving present monitory
remuneration for work done.

Opportunities for advancement :- It includes all aspect of job which individual sees as
potential sources of betterment of economic position, organizational status or
professional experience.
42

Security:- It is defined to include that feature of job situation, which leads to assurance
for continued employment, either within the same company or within same type of work
profession.

Company & management:- It includes the aspect of worker’s immediate situation,
which is a function of organizational administration and policy. It also involves the
relationship of employee with all company superiors above level of immediate
supervision.

Social aspect of job:- It includes relationship of worker with the employees specially
those employees at same or nearly same level within the organization.

Communication:- It includes job situation, which involves spreading the information in
any direction within the organization. Terms such as information of employee’s status,
information on new developments, information on company line of authority, suggestion
system, etc, are used in literature to represent this factor.

Benefits:- It includes those special phases of company policy, which attempts to prepare
the worker for emergencies, illness, old age, also. Company allowances for holidays,
leaves and vacations are included within this factor.
43
2.8 REASONS OF LOW JOB SATISFACTION
Reasons why employees may not be completely satisfied with their jobs:
1. Conflict between co-workers.
2. Conflict between supervisors.
3. Not being opportunity paid for what they do.
4. Have little or no say in decision making that affect employees.
5. Fear of loosing their job.
2.9 EFFECTS OF LOW JOB SATISFACTION

HIGH ABSENTEEISM: -Absenteeism means it is a habitual pattern of absence
from duty or obligation. If there will be low job satisfaction among the employees
the rate of absenteeism will definitely increase and it also affects on productivity
of organization. As th job satisfaction is high the rate of both turn over and
absentiseesm is low and vise a versa.
44

HIGH TURNOVER :- In human resource refers to characteristics of a given
company or industry relative to the rate at which an employer gains and losses the
staff. If the employer is said to be have a high turnover of employees of that
company have shorter tenure than those of other companies.

TRAINING COST INCREASES:- As employees leaves organization due to
lack of job satisfaction. Then Human resource manager has to recruit new
employees. So that the training expenditure will increases.

INFLUENCES ON JOB SATISFACTION:- There are no. of factors that
influence job satisfaction. For example, one recent study even found that if
college students majors coinsided with their job , this relationship will predicted
subsequent job satisfaction. However, the main influences can be summerised
along with the dimentions identified above.
The work itself
The concept of work itself is a major source of satisfaction. For example, research related to the
job characteristics approach to job design, shows that feedback from job itself and autonomy are
two of the major job related motivational factors. Some of the most important ingredients of a
satisfying job uncovered by survey include intersting and challenging work, work that is not
boring, and the job that provides status.
Pay
Wages and salaries are recognised to be a significant, but complex, multidimensional factor in
job satisfaction. Employees often see pay as a reflection of how management view their
contribution to the organization. Fringe benefits are also important. If the employees are allowed
some flexibility in choosing the type of benefits they prefer within a total package, called a
flexible benefit plan, there is a significant increase in both benefit satisfaction and overall job
satisfaction.
45
Promotions
Promotional opportunities are seem to be have avarying effect on job satisfaction. This is
because of promotion take number of different forms.
2.10 WHAT IS THE IMPACT OF JOB SATISFACTION?
Many managers subscribe to the belief that a satisfied worker is necessarily good worker. In
other words, if management could keep the entire worker’s happy”, good performance would
automatically fallow. There are two propositions concerning the satisfaction performance
relationship. The first proposition, which is based on traditional view, is that satisfaction is the
effect rather than the cause of performance. This proposition says that efforts in a job leads to
rewards, which results in a certain level of satisfaction .in another proposition, both satisfaction
and performance are considered to be functions of rewards.
Various research studies indicate that to a certain extent job satisfaction affects employee
turnover, and consequently organization can gain from lower turnover in terms of lower hiring
and training costs. Also research has shown an inverse relation between job satisfaction and
absenteeism. When job satisfaction is high there would be low absenteeism, but when job
satisfaction is low, it is more likely to lead a high absenteei
What job satisfaction people need?
Each employee wants:
1. Recognition as an individual
2. Meaningful task
3. An opportunity to do something worthwhile.
4. Job security for himself and his family
5. Good wages
6. Adequate benefits
7. Opportunity to advance
8. No arbitrary action- a voice a matters affecting him
9. Satisfactory working conditions
46
10. Competence leadership- bosses whom he can admire and respect as persons and as
bosses.
However, the two concepts are interrelated in that job satisfaction can contribute to morale and
morale can contribute to job satisfaction.
It must be remembered that satisfaction and motivation are not synonyms. Motivation is a drive
to perform, where as satisfaction reflects the individual’s attitude towards the situation. The
factors that determine whether individual is adequately satisfied with the job differs from those
that determine whether he or she is motivated. the level of job satisfaction is largely determined
by the comfits offered by the environment and the situation . Motivation, on the other hand is
largely determine by value of reward and their dependence on performance. The result of high
job satisfaction is increased commitment to the organization, which may or may not result in
better performance.
A wide range of factors affects an individual’s level of satisfaction. While organizational rewards
can and do have an impact, job satisfaction is primarily determine by factors that are usually not
directly controlled by the organization. a high level of job satisfaction lead to organizational
commitment, while a low level, or dissatisfaction, result in a behavior detrimental to the
organization. For example, employee who like their jobs, supervisors, and the factors related to
the job will probably be loyal and devoted. People will work harder and derive satisfaction if
they are given the freedom to make their own decisions.
47
CHAPTER NO. 3
3.1. MODELS OF JOB SATISFACTION
There are various methods and theories of measuring job satisfaction level of employees in the
orgnization given by different authers.
List of all the theorise and methods measuring job satisfaction level is given below:
A MODEL OF FACET SATISFACTION
 Affect theory(Edwin A. Locke 1976)
 Dispositional Theory( Timothy A. Judge 1988)
 Two-Factor Theory (Motivator-Hygiene Theory) (Frederick Herzberg’s)
 Job Characteristics Model (Hackman & Oldham)
 Rating scale
 Personal interviews
 action tendencies
 Job enlargement
 Job rotation
 Change of pace
 Scheduled rest periods
48
MODEL OF FACET OF JOB SATISFACTION
Skill
Experience
Training
Perceived personal
job inputs
Perceived
amount that
should be
received (a)
Efforts
Age
Seniority
Perceived inputs
& outcomes of
referent others
Education
Level
Co loyalty
Difficulty
Past
performance
Time span
Amount of
responsibility
Perceived
outcome of
referent others
Actual outcome
received
a=b satisfaction
Perceived job
characteristics
a>b
dissatisfaction
a<b guilt
Inequity
Perceived
amount
received
Discomfort
(b)
Fig.no.2 Model of determinant of facet of job satisfaction
Edward E.lawler in 1973 proposed a model of facet satisfaction. This model is applicable to
understand what determines a person’s satisfaction with any facet of job.
According to this model actual outcome level plays a key role in a person’s perception of what
rewards he receives. His perception influenced by his perception of what his referent others
receives. The higher outcome level of his referent other the lower his outcome level will appear.
This model also focuses on his perception on reward level.
49
3.2 AFFECT THEORY
Edwin A. Locke’s Range of Affect Theory (1976) is arguably the most famous job satisfaction
model. The main premise of this theory is that satisfaction is determined by a discrepancy
between what one wants in a job and what one has in a job. Further, the theory states that how
much one values a given facet of work (e.g. the degree of autonomy in a position) moderates
how satisfied/dissatisfied one becomes when expectations are/aren’t met. When a person values
a particular facet of a job, his satisfaction is more greatly impacted both positively (when
expectations are met) and negatively (when expectations are not met), compared to one who
doesn’t value that facet. To illustrate, if Employee A values autonomy in the workplace and
Employee B is indifferent about autonomy, then Employee A would be more satisfied in a
position that offers a high degree of autonomy and less satisfied in a position with little or no
autonomy compared to Employee B. This theory also states that too much of a particular facet
will produce stronger feelings of dissatisfaction the more a worker values that facet.
3.3 DISPOSITIONAL THEORY
Another well-known job satisfaction theory is the Dispositional Theory it is a very general theory
that suggests that people have innate dispositions that cause them to have tendencies toward a
certain level of satisfaction, regardless of one’s job. This approach became a notable explanation
of job satisfaction in light of evidence that job satisfaction tends to be stable over time and across
careers and jobs. Research also indicates that identical twins have similar levels of job
satisfaction.
A significant model that narrowed the scope of the Dispositional Theory was the Core Selfevaluations Model, proposed by Timothy A. Judge in 1998. Judge argued that there are four Core
Self-evaluations that determine one’s disposition towards job satisfaction: self-esteem, general
self-efficacy, locus of control, and neuroticism. This model states that higher levels of selfesteem (the value one places on his self) and general self-efficacy (the belief in one’s own
competence) lead to higher work satisfaction. Having an internal locus of control (believing one
has control over her\his own life, as opposed to outside forces having control) leads to higher job
satisfaction. Finally, lower levels of neuroticism lead to higher job satisfaction
50
3.4 TWO-FACTOR THEORY (MOTIVATOR-HYGIENE THEORY)
Frederick Hertzberg’s Two-factor theory (also known as Motivator Hygiene Theory) attempts to
explain satisfaction and motivation in the workplace. This theory states that satisfaction and
dissatisfaction are driven by different factors – motivation and hygiene factors, respectively.
Motivating factors are those aspects of the job that make people want to perform, and provide
people with satisfaction. These motivating factors are considered to be intrinsic to the job, or the
work carried out.Motivating factors include aspects of the working environment such as pay,
company policies, supervisory practices, and other working conditions.
While Hertzberg's model has stimulated much research, researchers have been unable to reliably
empirically prove the model, with Hackman & Oldham suggesting that Hertzberg's original
formulation of the model may have been a methodological artifactFurthermore, the theory does
not consider individual differences, conversely predicting all employees will react in an identical
manner to changes in motivating/hygiene factors.. Finally, the model has been criticised in that it
does not specify how motivating/hygiene factors are to be measured
3.5 JOB CHARACTERISTICS MODEL
Hackman & Oldham proposed the Job Characteristics Model, which is widely used as a
framework to study how particular job characteristics impact on job outcomes, including job
satisfaction. The model states that there are five core job characteristics (skill variety, task
identity, task significance, autonomy, and feedback) which impact three critical psychological
states (experienced meaningfulness, experienced responsibility for outcomes, and knowledge of
the actual results), in turn influencing work outcomes (job satisfaction, absenteeism, work
motivation, etc.).The five core job characteristics can be combined to form a motivating potential
score (MPS) for a job, which can be used as an index of how likely a job is to affect an
employee's attitudes and behaviors. A meta-analysis of studies that assess the framework of the
model provides some support for the validity of the JCM.
51
3.6 MODERN METHOD OF MEASURING JOB SATISFACTION
In this method of measuring job satisfaction the comparisons between various organizational
terms and conditions at managerial level and also the organization at a large.
SATISFACTION WITH HUMAN RESOURCES MANAGEMENT POLICIES OF THE
ORGANIZATION:
1. Management has a clear path for employee’s advancement
2. Decisions are made keeping in mind the good of the employees
3. Management is extremely fair in personal policies
4. Physical working conditions are supportive in attaining targets
5. I nnovativeness is encouraged to meet business problems.
SATISFACTION WITH SUPERVISION
1. I feel I can trust what my supervisor tells me
2. My supervisor treats me fairly and with respect
3. My supervisor handles my work-related issues satisfactorily
4. I get frequent appreciation of work done from supervisors
52
5. I get enough support from the supervisor
6.Individual initiative is encouraged
SATISFACTION WITH COMPENSATION LEVELS
1. Overall I am satisfied with the company’s compensation package
2. I am satisfied with the medical benefits
3. I am satisfied with the conveyance allowance
4. I am satisfied with the retirement benefits
5. I am satisfied with the reimbursement of the expenses as per the eligibility
6. I am satisfied with the holiday (vacation) eligibilities
SATISFACTION WITH TASK CLARITY
53
1. Management decisions are Ad Hoc and lack professionalism (reverse scaled)
2. Rules and procedures are followed uncompromisingly
3. My job responsibilities are well defined and clear
SATISFACTION WITH CAREER DEVELOPMENT
1. I have adequate opportunities to learn and grow
2. I get opportunities to handle greater responsibilities
3. My skills and abilities are adequately used at work
From all above we can conclude level of job satisfaction of our employees.
54
3.7 RATING SCALE
It is one of the most common methods of measuring job satisfaction. The popular rating scale
used to measure Job satisfaction is to include:
Minnesota Satisfaction Questionnaires: It helps to obtain a clear picture of pertinent
satisfactions and dissatisfactions of employees.
Job Description Index: it measures Job satisfaction on the dimension identified by Smith,
Kendall, Hullin.
Porter Need Identification Questionnaires: It is used only for management personnel and
revolves around the problems and challenges faced by managers.
55
3.8 CRITICAL INCIDENTS
Fredrick Hertz berg and his Associates popularized this method of measuring Job satisfaction. It
involves asking employees to described incidents on job when they were particularly satisfied or
dissatisfied. Then the incidents are analyzed in terms of their contents and identifying those
related aspects responsible for the positive and negative attitudes.
3.9 PERSONAL INTERVIEWS
This method facilitates an in-depth exploration through interviewing of job attitudes. The main
advantage in this method is that additional information or clarifications can be obtained
promptly.
56
3.10 ACTION TENDENCIES
By this method, Job satisfaction can be measured by asking questions and gathering information
on how they feel like behaving with respect to certain aspects of their jobs. This method provides
employees more opportunity to express their in-depth feeling.
In his study on American employees, hoppock identified six factors that contributed to job
satisfaction among them. These are as follows:
1. The way individual reacts to unpleasant situations.
2. The facilities with which he adjust himself to other persons.
3. His relative’s status in the social & economic group with which he identifies himself.
4. The nature of work in relation to the abilities, interest & preparation of the workers.
5. Security.
6. Loyalty.
Because human resource manager often serve as intermediaries between employees &
management in conflct.they are concern with Job satisfaction or general job attitudes with the
employees.
Philip apple white has listed the five major components of Job satisfaction .as
1. Attitude towards work group.
2. General working conditions.
57
3. Attitude towards company.
4. Monitory benefits &
5. Attitude towards supervision
Other components that should be added to this five are individual’s state of mind about the work
itself and about the life in general .the individual’s health, age, level of aspiration. Social status
and political & social activities can all contribute to the Job satisfaction. A person’s attitude
toward his or her job may be positive or negative.
3.11 JOB ENLARGEMENT
The concept of job enlargement originated after World War II. It is simply the organizing of the
work so as to relate the contents of the job to the capacity, actual and potential, of workers. Job
enlargement is oblivious forerunner of the concept and philosophy of job design. Stephan offers
three basic assumptions behind the concept of job enlargement.
Output will increase if
1. Workers abilities are fully utilized
2. Worker has more control over the work
3. Workers interest in work and workplace is stimulated.
58
Job enlargement is a generic term that broadly means adding more and different tasks to a
specialized job. It may widen the number of task the employee must do that is, add variety.
When additional simple task are added to a job, the process is called horizontal job enlargement.
This also presumably adds interest to the work and reduces monotony and boredom.
To check harmful effects of specialization, the engineering factors involved in each individual
job must be carefully analyzed. Perhaps, the assembly lines can be shortened so that there will be
more lines and fewer workers on each line. Moreover, instead of assigning one man to each job
and then allowed to decide for himself how to organize the work. Such changes permit more
social contacts and greater control over the work process.
3.12 JOB ROTATION
Job rotation involves periodic assignments of an employee to completely different sets of job
activities. One way to tackle work routine is to use the job rotation. When an activity is no longer
challenging, the employee is rotated to another job, at the same level that has similar skill
requirements.
Many companies are seeking a solution to on-the-job boredom through systematically moving
workers from one job to another. This practice provides more varieties and gives employees a
chance to learn additional skills. The company also benefits since the workers are qualified to
perform a number of different jobs in the event of an emergency.
59
3.13 CHANGE OF PACE
Anything that will give the worker a chance to change his pace when he wishes will lend variety
to his work. Further if workers are permitted to change their pace that would give them a sense
of accomplishment.
3.14. SCHEDULED REST PERIODS
Extensive research on the impact of rest periods indicates that they may increase both morale and
productivity. Scheduled rest periods bring many advantages:
They counteract physical fatigue
They provide variety and relieve monotony
They are something to look forward to- getting a break gives a sense of achievement.
They provide opportunities for social contacts.
60
CHAPTER NO. 4
DATA ANALYSIS AND INTERPRETATION
After data have been collected, the researcher turns to the task of analyzing them. The analysis of
data requires a number of closely related operations such as establishment of categories, the
application of these categories to raw data through tabulation and drawing statically inferences.
Tabulation is the part of technical procedure where in the classified data are put in the form of
tables.
After analyzing the data, the researcher should have to explain the findings on the basis of some
theory. It is known as interpretation
.
The data has been collected from 100 employees of JSPL ANGUL, ODISHA through
questionnaire.
The data thus collected was in the form of master table.
That made possible counting of classified data easy. From the master table various summery
tables were prepared. They have been presented along with their interpretation in this manner.
61
1. Responses regarding whether the respondents are satisfied with the workplace of
organization
Table 1
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
31
31
Satisfied
49
49
Slightly satisfied
12
12
Dissatisfied
5
5
Strongly dissatisfied
3
3
Graph 1
percentage
responses regarding whether respondents are
satisfied with work place
60
50
40
30
20
10
0
no. of respondents
satisfaction level
Above table shows that 31% employees are strongly satisfied with their work place 61%
employees are satisfied with their workplace. It means over all 92% employees are satisfied and
other 18% are not satisfied with the work place.
62
2. Response regarding whether the respondents are satisfied with the infrastructure of
organization.
Table 2
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
50
50
Satisfied
20
20
Slightly satisfied
10
10
Dissatisfied
16
16
Strongly dissatisfied
4
4
Graph 2
response regarding whether respondents are
satisfied with infrastructure
60
percentage
50
40
30
no. of respondents
20
10
0
satisfaction level
Above table shows that 70% respondents are satisfied with infrastructure and 30% are
dissatisfied with infrastructure of JSPL. It can be interpreted that 30% are not satisfied with
infrastructure which not more in number.
63
3. Responses regarding whether the respondents are satisfied with the canteen facility
provided by orgarization.
Table 3
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
56
56
Satisfied
17
17
Slightly satisfied
16
16
Dissatisfied
9
9
Strongly dissatisfied
3
3
Graph 3
responses regarding whether the respondents are
satisfied with canteen facility
60
percentage
50
40
30
no. of respondents
20
10
0
satisfaction level
Above table shows that 88% employees are satisfied with the canteen facility provided by the
organization. Only 12% employees are not satisfied with canteen facility
64
4. Responses regarding whether the respondents are satisfied with the implementation
of rules and responsibilities.
Table 4
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
51
51
Satisfied
23
23
Slightly satisfied
10
10
Dissatisfied
11
11
Strongly dissatisfied
6
6
Graph 4
responses regarding whether respondents are
satisfied with implimentation of rules and
responsibilities
60
percentage
50
40
30
no. of respondents
20
10
0
satisfaction level
Above table shows that 84% employees are satisfied with implementation of rules and
responsibilities. And 16% of respondents are not seems to be satisfied with the implementing
rules and responsibilities.
65
5. Responses regarding whether the respondents are satisfied with the freedom given at
work.
Table 5
Satisfaction level
No. Of respondents
Strongly satisfied
30
Percentage
30
Satisfied
36
36
Slightly satisfied
14
14
Dissatisfied
16
16
Strongly dissatisfied
4
4
Graph 5
percentage
responses regarding respondents are satisfied
with the freedom at work
40
35
30
25
20
15
10
5
0
no. of respondents
satisfaction level
Above table shows that 80% respondents are happy with the freedom at work given by
management but only 20% of respondents are not satisfied with freedom given at wrk place
66
6. Responses regarding whether the respondents are satisfied with the team spirit in
organization
Table 6
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
52
52
Satisfied
21
21
Slightly satisfied
7
7
Dissatisfied
16
16
Strongly dissatisfied
4
4
Graph 6
responses whether respondents are satisfied with
equal treatment to all
percentage
60
50
40
30
no. of respondents
20
10
0
satisfaction level
Above table shows that 80% employees are satisfied with team sprit built in organization and
other employees are not satisfied with team spirit in the organization.
67
7 Responses regarding whether the respondents are satisfied with convenient working
hours.
Table 7
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
20
20
Satisfied
41
41
Slightly satisfied
11
11
Dissatisfied
23
23
Strongly dissatisfied
5
5
Graph 7
percentage
responses whether respondents are satisfied with
convinient working hours
45
40
35
30
25
20
15
10
5
0
no. of respondents
satisfaction level
Above table shows that 20% employees strongly feels that the working hours decided by
organization are most convenient for them. Other 52% employees are satisfied with these
working hours. And only 28% employees are not much satisfied with the working hours.
68
8. Responses regarding whether the respondents are satisfied with Job security
Table 8
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
13
13
Satisfied
18
18
Slightly satisfied
11
11
Dissatisfied
12
12
Strongly dissatisfied
46
46
Graph 8
percentage
responces whether respondents are satisfied with
job security
50
45
40
35
30
25
20
15
10
5
0
no. of respondents
satisfaction level
Above table shows that only 31 % employees are satisfied with the job security. And remaining
69% of employees are not satisfied with the job security provided by the organization.
69
9. Responses regarding whether the respondents are satisfied with the targets achievable
Table 9
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
64
64
Satisfied
21
21
Slightly satisfied
11
Dissatisfied
11
4
4
Strongly dissatisfied
0
0
Graph 9
responses whether respondents are satisfied with
the targets achievable
70
percentage
60
50
40
30
no. of respondents
20
10
0
satisfaction level
Above table shows that 96% employees are strongly in favor that the targets given are achievable
and only 4% are not feels that the targets given are achievable.
70
10. Responses regarding whether the respondents are satisfied with the opportunities of
promotions
Table 10
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
8
8
Satisfied
14
14
Slightly satisfied
6
6
Dissatisfied
26
26
Strongly dissatisfied
46
46
Graph 10
percentage
responses whether respondents are satisfied with
opportunities of promotion
50
45
40
35
30
25
20
15
10
5
0
no. of respondents
satisfaction level
Only 22% of the employees are satisfied with the opportunities of promotions given by
organization. And most of the employees nearly 78% are not satisfied with opportunities of
promotions.
71
11. Responses regarding whether the respondents are satisfied with the payment of salary
on time
Table 11
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
44
44
Satisfied
16
16
Slightly satisfied
4
4
Dissatisfied
32
32
Strongly dissatisfied
4
4
Graph 11
percentage
responses whether the employees are satisfied
with the payment of salary on time
50
45
40
35
30
25
20
15
10
5
0
no. of respondents
satisfaction level
Above table shows that 60% of employees are satisfied with the payment of salaries on time.
Only 40% of the employees are not much satisfied with the payment of salaries on time.
72
12 Responses regarding whether the respondents are satisfied with the quality of formal
training and induction program
Table 12
Satisfaction level
No. Of respondents Percentage
Strongly satisfied
42
42
Satisfied
36
36
Slightly satisfied
4
4
Dissatisfied
14
14
Strongly dissatisfied 4
4
Graph 12
percantage
responses regarding whether the respondents are
satisfied with the quality of training and induction
program
45
40
35
30
25
20
15
10
5
0
No. Of respondents
satisfaction level
From the above table it shows that 76% of the respondents are satisfied with the quality of
training and induction program and only
73
13. Responses regarding whether the respondents are satisfied with the proper and
proactive HR division
Table 13
Satisfaction Level
No. Of Respondents
Strongly satisfied
72
Satisfied
Percentage
72
18
Slightly satisfied
18
2
2
Dissatisfied
6
6
Strongly dissatisfied
2
2
Graph 13
percentage
responses regarding whether the respondents are
satisfied with the proper and proactive HR division
80
70
60
50
40
30
20
10
0
no. of respondents
satisfaion level
Above table shows that 92% of the respondents are satisfied with the HR divisionOnly 8% of the
respondents are not satisfied with the proactive and proper HR division, which is very negligible
in number.
74
14 Responses regarding whether the respondents are satisfied with the performance
appraisal system
Table 14
Satisfaction level
No. Of respondents
Percentage
Strongly satisfied
62
62
Satisfied
28
28
Slightly satisfied
4
4
Dissatisfied
4
4
Strongly dissatisfied 2
2
Graph 14
percentage
responses regarding whether the respondents are
satiosfied with the performance ap[praisal system
70
60
50
40
30
20
10
0
no. of respondents
satisfaction level
Above table shows that 90% respondents are satisfied with the performance appraisal system and
only 10% of the respondents are not much satisfied with the performance appraisal system
implemented in organization.
75
15 Responses regarding whether the respondents are satisfied with positive acceptance of
employees suggestions
Table 15
Satisfaction Level
No. Of Respondents
Percentage
Strongly Satisfied
4
4
Satisfied
22
22
Slightly Satisfied
4
4
Dissatisfied
45
45
Strongly Dissatisfied
25
25
Graph 15
percentage
responses regarding whether the respondents are
satisfied with the positive acceptance of
employees suggestions
50
45
40
35
30
25
20
15
10
5
0
no. of respondents
satisfaction level
Above table shows that the 26% of the respondents are satisfied with the positive acceptance of
the suggestions given by the respondents but most of the respondents 70% are dissatisfied with
this point.
76
16 Responses regarding whether the respondents are satisfied with management keeps
promises
Table 16
Satisfaction Level
No. Of Respondents
Percentage
Strongly Satisfied
76
76
Satisfied
14
14
Slightly Satisfied
4
4
Dissatisfied
6
6
Strongly Dissatisfied
0
0
Graph 16
percentage
responses regarding whether the respondents are
satisfied with the management keeps promises
80
70
60
50
40
30
20
10
0
no. of respondents
satisfaction level
Above table shows that 90% of the respondents are satisfied with the management keeps
promises and only 10% of the respondents are dissatisfied with the thing that the management
keeps promises.
77
CHAPTER NO. 5
CONCLUSION
All the conclusions are drawn based on the analysis and interpretation of the primary
data regarding the job satisfaction of the employees of Axis Bank Ltd.
 From the analysis and interpretation, it is concluded that most of the employees
are satisfied with the workplace and only few employees are not satisfied with the
workplace, which are negligible in number. And similarly in case of infrastructure
most of the employees are satisfied and very small number of employees are not
happy with the infrastructure of Axis Bank Ltd and the canteen facilities. It means
the workplace and infra structure of Axis Bank is good or satisfactory.
 It is concluded that near about all the employees are satisfied with implementation
of rules and responsibilities. And only some of them are not seems to be satisfied
with the implementing rules and responsibilities. Therefore it shows that
implementation of rule and responsibility is done fairly.
 From the study it is clear that the higher percentage of employees are happy with
the freedom at work given by management but only some of them are not feeling
satisfied with the freedom given at work place.
 According to analysis and interpretation, most of the employees are satisfied with
the team spirit built in organization and only few are not happy with team spirit in
the organization. From this it seems that the team spirit in the organization is
strong.
78
 This study shows that only few employees strongly feel that the working hours
decided by organization are most convenient for them. Other is not in favor with
these working hours. So it is clear that the management kept the main
consideration about working conditions and the hours, which satisfies the
employees.
 The study shows that very small numbers of employees are satisfied with the job
security. And remaining most of the employees are not satisfied with the job
security provided by the organization. Hence from this analysis it is cleared that
there is feeling of fear of job loss in the employees of AXIS BANK.
 An analysis shows that employees are strongly in favor that the targets given are
achievable and only are not feels that the targets given are achievable. Hence the
targets set by management are achievable.
 From the analysis it is concluded that very small number of employees are
satisfied with the payment as per their roles and responsibility and remaining all
are not satisfied with the payment according to their roles and responsibilities.
Hence from this analysis it can be cleared that payment according to roles and
responsibilities are not much satisfied.
 Only little number of the employees is satisfied with the opportunities of
promotions given by organization. It shows that the employees do not have any
growth of opportunities. Analysis shows that the payment of salary is made always
on time.
79
 From the analysis and interpretation it is clear that very large numbers of the
respondents are satisfied with the quality of training and induction program and in
house training held by the management. And few are not satisfied with the quality
of in house training. But the period of training is not satisfactory to the employees.
 From the analysis it is clear that HR division is most satisfactory to all employees
only few are not satisfied with the HR division in the company.
In case of performance appraisal system and the office events and parties
organized by the organization near about all the employees are satisfied. The
birthdays of all the employees are remembered and celebrated in the organization.
 It is concluded that the employees are not much satisfied with the forum for faceto-face communication. From the analysis it is clear that half of the employees are
satisfied and other half are not satisfied with the encouragement given to the
suggestions of the employees. But only few think that there is positive acceptance
of the suggestions given by the employees. From the analysis it is clear that
management keeps all the promises.
80
CHAPTER NO. 6
SUGGESTIONS
The suggestions are drawn from the analysis and observations. Few suggestions are given
as under:
 In case of working hours decided by the organization are not convenient for the
employees of JSPL, ANGUL. The working hours are 6 hours per day that from
8.30AM to 5 PM. These hours should minimize up to 5 hours.
 The criteria for Job security is not much satisfactory so management have
concentrate on job security of employees so that they can work without fear of job
loss in the organization.
 Opportunities of growth of employees are very less so that there can be employee
turnover hence management has to give emphasis on increasing the promotion
opportunities for according to the performance of employees.
 From analysis we concluded that the period of in house training is very short that
is of only 3 days, which is not sufficient to get complete knowledge about the
work. Hence the training period should extend up to 5 days.
 As there is an active participation of employees in decision making but rarely the
suggestions given by them are drawn in action. Hence the confidence of
employees gets demotivated.
So to motivate the employees management can take into consideration some
proper suggestions given by the employees. It will help to increase the motivation
and ultimately the Job satisfaction of the employees of JSPL ANGUL.
81
BIBLIOGRAPHY
Books: 
Hitt, Miller, Colella “Organizational Behavior A Strategic Approach”, Wiley Student’s
Edition.

Luthans Fred “Organizational Behavior”, McGraw Hill 7th Edition.

Newstrom John W., Davis Keith, “Organizational Behavior Human Resource At Work”,
9th Edition, Tata McGraw Hill Edition.

Pestonjee D. M.
“Motivation and Job Satisfaction”, 1st Edition. Macmillan India
Limited.
Websites: www.hrcouncil.com
www.workforce.com
www.google.com
www.projects99.com
www.citehr.com
www.google.com/images
82
ANNEXTURE
QUESTAIONNAIRE
NAME- ___________________ MOBILE MODEL- ________
AGE- ________ OCCUPATION-_________________
1.Responses regarding whether the respondent are satisfied with the workplace of
organization.
1.Strongly satisfied
2.Satisfied
3.Slightly satisfied
4.Dissatisfied
5.Strongly satisfied
2. Responses regarding whether the respondents are satisfied with the infrastructure of
organization.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
3. Response regarding whether the respondents are satisfied with the canteen facility
provided by organization.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
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5. Strongly satisfied
4. Responses regarding whether the respondent are satisfied with the implementation of
rules and responsibilities.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
5. Responses regarding whether the respondents are satisfied with freedom given at work.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
6. Responses regarding whether the respondent are satisfied with the team spirit in
organization.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
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7. Responses regarding whether the respondent are satisfied with convenient working hour.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
8. Responses regarding whether the respondent are satisfied with job security.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
9. Responses regarding whether the respondents are satisfied with the targets achievable.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
10. Responses regarding whether the respondent are satisfied with the opportunities of
promotion.
1. Strongly satisfied
2. Satisfied
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3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
11. Responses regarding whether the respondent are satisfied with the payment of salary
on time.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
12. Responses regarding whether the respondents are satisfied with the quality of formal
training and induction program.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
13. Responses regarding whether the respondents are satisfied with the proper and
proactive HR division.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
86
5. Strongly satisfied
14. Responses regarding whether the respondents are satisfied with the performance
appraisal system.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
15. Responses regarding whether the respondent are satisfied with positive acceptance of
employees suggestion.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
16. Responses regarding whether the respondents are satisfied with management keep
promises.
1. Strongly satisfied
2. Satisfied
3. Slightly satisfied
4. Dissatisfied
5. Strongly satisfied
THANK YOU FOR YOUR VALUEABLE HELP!!!
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