CHAPTER 1- INTRODUCTION

1.1 THE TOPIC: “RECRUITMENT PROCESS IN HDFC BANK”

At HDFC Bank, I was assigned with the topic as “Recruitment process in HDFC bank” for
my project work. I joined the company as a HR Executive. The selection of the topic was to
know how the company generates business through them.

HDFC Bank Recruitment is organized by the bank from time to time to filled the
required openings for a number of job posts with the bank. HDFC Bank is one of the
well known commercial banks in India and it is considered as a good employer in the
Indian job market. HDFC Bank Recruitments involves written examinations and
personal interviews of selected candidates. It is advisable for the candidates to have
a clear understanding of the recruitment process in order to make an informed
approach. HDFC Bank endeavors to become a world class bank with the active
participation of its talented team of employees.

Candidates who have applied for job vacancies during HDFC Bank recruitment in
2009 can get their results on the official bank website. Moreover, the website informs
potential job seekers with the latest job opportunities with the bank. HDFC Bank
recruitment for 2010 includes a number of job posts such as Supervisor, Sales
manager, Relationship Manager, Area Classic on Phone, Acquisition Manager, Lead
Phone Banking, POs, Clerks and many others. Moreover, the bank conducts
recruitment for freshers and MBA holders who are looking to enter the banking
industry. HDFC Bank recruitment is held in a large number of cities and urban areas
that include kolkata, Mumbai, Delhi, Pune, Bangalore and Chennai.

Being an employee of HDFC Bank will allow you to get a range of benefits and
special banking services. The business philosophy of HDFC Bank is based on four
main values that include customer focus, product leadership, Operational Excellence
and people. To select the best of talents, the bank is engaged in hiring, motivating,
developing and retaining the best available candidates in the banking industry. The
primary objective of HDFC Bank is to bring up the bank up to the International level
and provides the best of practices in service levels, product offering offerings, risk
management, technology and audit and compliance.

To appear in HDFC Bank recruitment, candidates are first required to make their
application for the job openings and get the admit cards. Job application forms can
be availed online from the bank website or from the nearest bank branches in their
areas. Job opportunities made available by the bank are best career options that one
can get by making some serious efforts.

HDFC is India's premier housing finance company and enjoys an impeccable track record in
India as well as in international markets. Since its inception in 1977, the Corporation has
maintained a consistent and healthy growth in its operations to remain the market leader in
mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC
has developed significant expertise in retail mortgage loans to different market segments and
also has a large corporate client base for its housing related credit facilities. With its
experience in the financial markets, a strong market reputation, large shareholder base and
unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian
environment.

HDFC Bank began operations in 1995 with a simple mission : to be a “ World Class Indian
Bank.” They realized that only a single minded focus on product quality and service
excellence would help us get there. Today, we are proud to say that we are well on our way
towards that goal.

HDFC Ltd has the objective to enhance residential housing stock and promote home
ownership. Their offerings range from hassle-free home loans and deposit products, to
property related services and a training facility. They also offer specialized financial services
to the customer base through partnerships with some of the best financial institutions
worldwide. HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team
determined to accomplish the vision of becoming a world-class Indian bank.
Our business philosophy is based on four core values - Customer Focus, Operational
Excellence, Product Leadership and People. We believe that the ultimate identity and success
of our bank will reside in the exceptional quality of our people and their extraordinary efforts.
For this reason, we are committed to hiring, developing, motivating and retaining the best
people in the industry.

HDFC Bank specializes in the provision of banking and other financial services to corporate
and institutional clients. The company’s services include commercial, transactional and
electronic banking products. It also provides treasury services, retail banking and capital
markets infrastructure. The company primarily operates in India. HDFC Bank is
headquartered in Mumbai, India and employs about 14,900 people. The company recorded
revenues of INR124,928 million (approximately $3,131.9 million) during the fiscal year
ended March 2008, an increase of 51.9%
over 2007. The net profit was INR15901.8 million (approximately $398.7 million) in fiscal
year 2008, an increase of 39.3% over 2007.

1.2 OBJECTIVE OF THE STUDY

PRIMARY OBJECTIVE:
To find the Recruitment and Selection System in the organization.
To study the process of intake of employees with relation to Experience, Communication
skills and Qualification in the organization.
CHAPTER 2-ORGANIZATION PROFILE

ABOUT THE BANK

HDFC Bank is a young and dynamic bank, with a youthful and enthusiastic team determined
to accomplish the vision of becoming a world-class Indian bank. HDFC’s business
philosophy is based on four core values - Customer Focus, Operational Excellence, Product
Leadership and People. They believe that the ultimate identity and success of bank will reside
in the exceptional quality of people and their extraordinary efforts. For this reason, they are
committed to hiring, developing, motivating and retaining the best people in the industry.

Why HDFC is better …?

1. Investment returns: investment returns and business growth provided by HDFC is
validated by bajaj Capital report. HDFC pacify the need of invertors up to healthy level and
make the strong relationship with them.
2. Financial Background and Experience: HDFC existing in the market since 1977. It has a
very handsome experience in the field of finance because it completely involved in finance
Sector only where as the others are running in many other field also like Reliance (Petroleum,
Textile, Telecom etc.)
3. Ethics and Values: HDFC is an ethical and cultural organization which prevents the false
selling and prohibit the false commitment to the customer.
4. Sales Force: Properly trend licensed and Educated People are the strength of the company.
So that they could give the best customer service.
5. Huge branch network HDFC is having 450 branches in all over the country.
6. Online accessibility : It makes the process faster and make the customer delighted.

MISSION AND BUSINESS STRATEGY:-

Mission of HDFC is to be "a World Class Indian Bank", benchmarking themselves against
international standards and best practices in terms of product offerings, technology, service
levels, risk management and audit & compliance. The objective is to build sound customer
franchises across distinct businesses so as to be a preferred provider of banking services for
target retail and wholesale customer segments, and to achieve a healthy growth in
profitability, consistent with the
Bank's risk appetite. They are committed to do this while ensuring the highest levels of
ethical standards, professional integrity, corporate governance and regulatory compliance.
Business strategy of HDFC emphasizes the following:
Increase market share in India’s expanding banking and financial services industry by
following a disciplined growth strategy focusing on quality and not on quantity and
delivering high quality customer service.
Leverage technology platform and open scalable systems to deliver more products to more
customers and to control operating costs.
Maintain the current high standards for asset quality through disciplined credit risk
management.
Develop innovative products and services that attract targeted customers and address
inefficiencies in the Indian financial sector.
Continue to develop products and services that reduce cost of funds
Focus on high earnings growth with low volatility.

COMPANY HISTORY

2.1 FORMATION OF THE COMPANY

The Housing Development Finance Corporation Limited (HDFC) was amongst the first to
receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank
in the private sector, as part of the RBI's liberalization of the Indian Banking Industry in
1994, as a part of the liberalization of the Indian Banking Industry by Reserve Bank of
India (RBI). The bank was incorporated in August 1994 in the name of 'HDFC Bank
Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as
a Scheduled Commercial Bank in January 1995. It was one of the first banks to receive
an 'in principle' approval from RBI, for setting up a bank in the private sector. Today,
the bank boasts of as many as 1412 branches and over 3275 ATMs across India.

HISTORY

HDFC Bank was incorporated in 1994 by Housing Development Finance Corporation

Limited (HDFC), India's largest housing finance company. It was among the first
companies to receive an 'in principle' approval from the Reserve Bank of India (RBI)
to set up a bank in the private sector. The Bank started operations as a scheduled
commercial bank in January 1995 under the RBI's liberalisation policies.

Times Bank Limited (owned by Bennett, Coleman & Co. / Times Group) was merged
with HDFC Bank Ltd., in 2000. This was the first merger of two private banks in
India. Shareholders of Times Bank received 1 share of HDFC Bank for every 5.75
shares of Times Bank.

The Bank has tied up with ITC Thread needle Mutual Fund to provide its investors
with the High Interest Fund (HIF), a facility to encash their units through the bank's
Automated Teller Machines in addition to a cheque book facility also to be provided
by the bank.

Sony India Ltd (SIL) has joined hands with HDFC Bank to work out an innovative car
finance package under which a sony car audio system would be installed to a new
car for no additional upfront cash outflow.

In 2000, The bank has tied up with 12 utility companies nationwide including BSES,
MSEB, BEST, Orange, BPL and MTNL. The Bank has set up 100 new electronic
data capture (EDC) terminals in Mumbai. And HDFC Bank has launched its first
B2C payment gateway which allows Visa and MasterCard credit card-holders to do
transaction online and real time.

HDFC is a major Indian financial services company based in India, after the Reserve
Bank of India allowed establishing private sector banks. The Bank was promoted by
the Housing Development Finance Corporation, a premier housing finance company
(set up in 1977) of India. HDFC Bank has 1,725 branches and over 4,232 ATMs, in
779 cities in India, and all branches of the bank are linked on an online real-time
basis. As of 30 September 2008 the bank had total assets of Rs.1006.82 billion. For
the fiscal year 2008-09, the bank has reported net profit of 2,244.9 crore
(US$498.37 million), up 41% from the previous fiscal. Total annual earnings of the
bank increased by 58% reaching at 19,622.8 crore (US$4.36 billion) in 2008-09.

PROMOTER

HDFC is India's premier housing finance company and enjoys an impeccable track record in
India as well as in international markets. Since its inception in 1977, the Corporation has
maintained a consistent and healthy growth in its operations to remain the market leader in
mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC
has developed significant expertise in retail mortgage loans to different market segments and
also has a large corporate client base for its housing related credit facilities. With its
experience in the financial markets, a strong market reputation, large shareholder base and
unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian
environment.

BUSINESS FOCUS

HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound
customer franchises across distinct businesses so as to be the preferred provider of banking
services for target retail and wholesale customer segments,
and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The
bank is committed to maintain the highest level of ethical standards, professional integrity,
corporate governance and regulatory compliance. HDFC Bank's business philosophy is based
on four core values – Operational Excellence, Customer Focus, Product Leadership and
People.

HDFC Bank deals with three key business segments: Wholesale Banking Services,
Retail Banking Services, Treasury.

Wholesale banking services

Blue-chip manufacturing companies in the Indian corp to small & mid-sized

corporates and agro-based businesses. For these customers, the Bank provides a
wide range of commercial and transactional banking services, including working
capital finance, trade services, transactional services, cash management, etc. The
bank is also a leading provider of for its to corporate customers, mutual funds, stock
exchange members and banks.

Retail banking services

The objective of the Retail Bank is to provide its target market customers a full range
of financial products and banking services, giving the customer a one-stop window
for all his/her banking requirements. The products are backed by world-class service
and delivered to customers through the growing branch network, as well as through
alternative delivery channels like ATMs, Phone Banking, NetBanking and Mobile
Banking. HDFC Bank was the first bank in India to launch an International Debit
Card in association with VISA (VISA Electron) and issues the Mastercard Maestro
debit card as well. The Bank launched its credit card business in late 2001. By March
2009, the bank had a total card base (debit and credit cards) of over 13 million. The
Bank is also one of the leading players in the “merchant acquiring” business with
over 70,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at
merchant establishments. The Bank is well positioned as a leader in various net
based B2C opportunities including a wide range of internet banking services for
Fixed Deposits, Loans, Bill Payments, etc.

Treasury

Within this business, the bank has three main product areas - Foreign Exchange and
Derivatives, Local Currency Money Market & Debt Securities, and Equities. These
services are provided through the bank's Treasury team. To comply with statutory
reserve requirements, the bank is required to hold 25% of its deposits in government
securities. The Treasury business is responsible for managing the returns and
market risk on this investment portfolio.

CAPITAL STRUCTURE

The authorized capital of HDFC Bank is Rs550 crore (Rs5.5 billion). The paid-up capital is
Rs424.6 crore (Rs.4.2 billion). The HDFC Group holds 19.4% of the bank's equity and about
17.6% of the equity is held by the ADS Depository (in respect of the bank's American
Depository Shares (ADS) Issue). Roughly 28% of the equity is held by Foreign Institutional
Investors (FIIs) and the bank has about 5,70,000 shareholders. The shares are listed on the
Stock Exchange, Mumbai and the National Stock Exchange. The bank's American
Depository Shares are listed on the New York Stock Exchange (NYSE) under the symbol
'HDB'.

TIMES BANK AMALGAMATION

In a milestone transaction in the Indian banking industry, Times Bank Limited (another new
private sector bank promoted by Bennett, Coleman & Co./Times Group) was merged with
HDFC Bank Ltd., effective February 26, 2000. As per the scheme of amalgamation approved
by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank
received 1 share of HDFC Bank for every 5.75 shares of Times Bank. The acquisition added
significant value to HDFC Bank in terms of increased branch network, expanded geographic
reach, enhanced customer base, skilled manpower and the opportunity to cross-sell and
leverage alternative delivery channels. With this, HDFC and Times became the first two
private banks in the New Generation Private Sector Banks to have gone through a
merger. The Deposits of the merged entity became Rs. 1,22,000 crore, while the
Advances were Rs. 89,000 crore and Balance Sheet size was Rs. 1,63,000 crore

DISTRIBUTION NETWORK
HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of
over 1229 branches spread over 444 cities across India. All branches are linked on an online
real-time basis. Customers in over 120 locations are also serviced through Telephone
Banking. The Bank's expansion plans take into account the need to have a presence in all
major industrial and commercial centers where its corporate customers are located as well as
the need to build a strong retail customer base for both deposits and loan products. Being a
clearing/settlement bank to various leading stock exchanges, the Bank has branches in the
centers where the NSE/BSE has a strong and active member base.

The Bank also has a network of about over 2526 networked ATMs across these cities.
Moreover, HDFC Bank's ATM network can be accessed by all domestic and international
Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge
cardholders.

MANAGEMENT

Mr. Jagdish Capoor took over as the bank's Chairman in July 2001. Prior to this, Mr. Capoor
was a Deputy Governor of the Reserve Bank of India.

The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years
and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.

The Bank's Board of Directors is composed of eminent individuals with a wealth of

experience in public policy, administration, industry and commercial banking. Senior
executives representing HDFC are also on the Board.

Senior banking professionals with substantial experience in India and abroad head various
businesses and functions and report to the Managing Director. Given the professional
expertise of the management team and the overall focus on recruiting and retaining the best
talent in the industry, the bank believes that its people are a significant competitive strength.

TECHNOLOGY

HDFC Bank operates in a highly automated environment in terms of information technology

and communication systems. All the bank's branches have online connectivity, which enables
the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also
provided to retail customers through the branch network and Automated Teller Machines
(ATMs).

The Bank has made substantial efforts and investments in acquiring the best technology
available internationally, to build the infrastructure for a world class bank. The Bank's
business is supported by scalable and robust systems which ensure that our clients always get
the finest services we offer.

The Bank has prioritized its engagement in technology and the internet as one of its key goals
and has already made significant progress in web-enabling its core businesses. In each of its
businesses, the Bank has succeeded in leveraging its market position, expertise and
technology to create a competitive advantage and build market share.

RATING

I. Credit Rating

The Bank has its deposit programs rated by two rating agencies - Credit Analysis & Research
Limited (CARE) and Fitch Ratings India Private Limited. The Bank's Fixed Deposit
programme has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents
instruments considered to be "of the best quality, carrying negligible investment risk". CARE
has also rated the bank's Certificate of Deposit (CD) programme "PR 1+" which represents
"superior capacity for repayment of short term promissory obligations". Fitch Ratings India
Pvt. Ltd. (100% subsidiary of Fitch Inc.) has assigned the "tAAA ( ind )" rating to the Bank's
deposit programme, with the
outlook on the rating as "stable". This rating indicates "highest credit quality" where
"protection factors are very high".

The Bank also has its long term unsecured, subordinated (Tier II) Bonds rated by CARE and
Fitch Ratings India Private Limited and its Tier I perpetual Bonds and Upper Tier II Bonds
rated by CARE and CRISIL Ltd. CARE has assigned the rating of "CARE AAA" for the
subordinated Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating "AAA
(ind)" with the outlook on the rating as "stable". CARE has also assigned "CARE AAA
[Triple A]" for the Banks Perpetual bond and Upper Tier II bond issues. CRISIL has assigned
the rating "AAA / Stable" for the Bank's Perpetual Debt programme and Upper Tier II Bond
issue. In each of the cases referred to above, the ratings awarded were the highest assigned by
the rating agency for those instruments.

II. Corporate Governance Rating

The bank was one of the first four companies, which subjected itself to a Corporate
Governance and Value Creation (GVC) rating by the rating agency, The Credit Rating
Information Services of India Limited (CRISIL). The rating provides an independent
assessment of an entity's current performance and an expectation on its "balanced value
creation and corporate governance practices" in future. The bank has been assigned a
'CRISIL GVC Level 1' rating which indicates that the bank's capability with respect to wealth
creation for all its stakeholders while adopting
sound corporate governance practices is the highest.

II.2 PRODUCT SCOPE:

HDFC Bank offers a bunch of products and services to meet the every need of the people.
The company cares for both, individuals as well as corporate and small and medium
enterprises. For individuals, the company has a range accounts, investment, and pension
scheme, different types of loans and cards that assist the customers. The customers can
choose the suitable one from a range of products which will suit their life-stage and needs.
For organizations the company has a host of customized solutions that range from Funded
services, Non-funded services, Value addition services, Mutual fund etc. These affordable
plans apart from providing long term value to the employees help in enhancing goodwill of
the company. The products of the company are categorized into various sections which are as
follows:

Accounts and deposits.

Loans.
Investments and Insurance.
Forex and payment services.
Cards.
Customer center.

II.3 PRODUCTS AND SERVICES AT A GLANCE

1. PERSONAL BANKING

A. Accounts & Deposits

- Regular Savings Account
- Savings Plus Account
- Savings Max Account
- Senior Citizens Account
- No Frills Account
- Institutional Savings Account
- Payroll Salary Account
- Classic Salary Account
- Regular Salary Account
- Premium Salary Account
- Defence Salary Account
- Kid's Advantage Account
- Pension Saving Bank Account
- Family Savings Account
- Kisan No Frills Savings Account
- Kisan Club Savings Account
- Plus Current Account
- Trade Current Account
- Premium Current Account
- Regular Current Account
- Apex Current Account
- Max Current Account
- Reimbursement Current Account
- RFC - Domestic Account
- Regular Fixed Deposit
- Super Saver Account
- Sweep-in Account
- HDFC Bank Preferred
- Private Banking

B. Loans
- Personal Loans
- Home Loans
- Two Wheeler Loans
- New Car Loans
- Used Car Loans
- Overdraft against Car
- Express Loans
- Loan against Securities
- Loan against Property
- Commercial Vehicle Finance
- Working Capital Finance
- Construction Equipment Finance
- Offers & Deals
- Customer Center

C. Investments & Insurance

- Mutual Funds
- Insurance
- Bonds
- Financial Planning
- Knowledge Centre
- Equities & Derivatives
- Mudra Gold Bar

D. Forex Services
- Trade Finance
- Traveler’s Cheques
- Foreign Currency Cash
- Foreign Currency Drafts
- Foreign Currency Cheque Deposits
- Foreign Currency Remittances
- Cash To Master
- ForexPlus Card

E. Payment Services
- Net Safe
- Prepaid Refill
- Bill Pay
- Direct Pay
- Visa Money Transfer
- E-Monies Electronic Funds Transfer
- Excise & Service Tax Payment

F. Access Your Bank

- One View
- Insta Alerts
- Mobile Banking
- ATM
- Phone Banking
- Branch Network

G. Cards
- Silver Credit Card
- Gold Credit Card
- Woman's Gold Credit Card
- Platinum plus Credit Card
- Titanium Credit Card
- Value plus Credit Card
- Health plus Credit Card
- HDFC Bank Idea Silver Card
- HDFC Bank Idea Gold Card
- Compare Cards
- Transfer & Safe
- Track your Credit Card

H. Get More from Your Card

- Offers & Savings
- My Rewards
- Insta Wonderz
- Add-On Cards
- Credit Card Usage Guide
- Easy EMI
- Net safe
- Smart Pay
- Secure Plus
- My City Benefit Card
- Debit Cards
- Easy Shop International Debit Card
- Easy Shop Gold Debit Card
- Easy Shop International Business Debit Card
- Easy Shop Woman's Advantage Debit Card
- Prepaid Cards
- Forex Plus Card
- Kisan Card

I. Customer Centre
- Offers & Deals
- Winners of Contests & Promotions

2. Wholesale Banking

A. Corporate
Funded Services
Non Funded Services
Value Added Services
Internet Banking

B. Small & Medium Enterprises

Funded Services
Non-Funded Services
Specialized Services
Internet Banking

C. Financial Institutions & Trusts

Banks
Financial Institutions
Mutual Funds
Stock Brokers

2.3. MILESTONES IN THE HISTORY

HDFC Bank began its operations in 1995 with a simple mission: to be a "World-class Indian
Bank". They realized that only a single-minded focus on product quality and service
excellence would help us get there. Today, they are proud to say that they are well on our
way towards that goal.

It is extremely gratifying that their efforts towards providing customer convenience have
been appreciated both nationally and internationally.
2007
Business Today-Monitor Group survey One of India's "Most Innovative
Companies".
Financial Express-Ernst & Young Award Best Bank Award in the Private Sector
category.
Business Today ‘Best Bank Award’.
Global HR Excellence Awards – Asia Pacific ‘Employer Brand of the Year 2007-2008’-
HRM Congress Award- First Runner-up.
Dun & Bradstreet – American Express ‘Corporate Best Bank’-Award.
Corporate Best Bank Award 2007
The Bombay Stock Exchange and Nasscom ‘Best Corporate Social Responsibility
Foundation's Business for Social Practice’ Award.
Responsibility Awards 2007
Outlook Money & NDTV Profit Best Bank Award in the Private sector
category.
The Asian Banker Excellence in Retail Best Retail Bank in India.
Financial Services Awards
Asian Banker Managing Director Aditya Puri won the
Leadership achievement Award for India.

2006
Business Today Best Bank in India.
Forbes Magazine One of Asia Pacific's Best 50 companies.
Business world Best listed Bank of India.
The Asset Magazine's Triple A Country Best Domestic Bank.
Awards
Asiamoney Awards Best Local Cash Management Bank in
Large and Medium segments.
Euromoney Awards "Best Bank" in India.

2005
Asiamoney Awards Best Domestic Commercial Bank
Asiamoney Awards Best Cash Management Bank - India .
Hong Kong-based Finance Asia magazine Best Bank in India
Economic Times Awards "Company of the Year" Award for
Corporate Excellence.
The Asset Triple A Country Awards Best Domestic Bank in India Region -2005
The Business Today-KPMG Survey Best Local Cash Management Bank in
India US$11-100m - 2005
The Business Today-KPMG Survey "Best Bank in India" for the third
consecutive year in 2005.
The Asian Banker Excellence Retail Banking Risk Management
Award in India.
Economic Times - Avaya Global Connect "Most Customer Responsive Company
Customer Responsiveness Awards -Banking and Financial Services - 2005

2004
Asiamoney Awards Best Local Cash Management Bank in
India US$11-100m
Asiamoney Awards Best Local Cash Management Bank in
India >US$501m
Asiamoney Awards Best Local Cash Management Bank in
 India 1989-2004(poll of polls)
Asiamoney Awards Best Overall Domestic Trade Finance
Services in India - 2004
Asiamoney Awards Most Improved company for Best
Management Practices in India - 2004
Business World One of India's Most Respected
Companies- 2004
Forbes Global Best Under a Billion, 100 Best Smaller Size
Enterprises in Asia/Pacific and Europe -
2004
Asian Banker Awards Operational Excellence in Retail Financial
Services - 2004
The Asset Triple A Country Awards Best Domestic Bank in India - 2004

2003
Forbes Global Best Under a Billion, 200 Best Small
Companies-2003
The Asset Triple A Country Awards Best Domestic Bank in India -2003
Business World - The Business World Most One of India's Most Respected Companies
Respected Company Awards
The Asset magazine Best Cash Management Bank
The Asset magazine Best Trade Finance Bank
FE-Ernst & Young Best Banks Survey Best New Private Sector Bank - 2003
Outlook Money Best Bank in the Private Sector - 2003
Business Today Best Bank in India -2003
NASSCOM & economictimes.com - IT Best IT User in Banking -2003
Users Awards

2002
Hong Kong-based Finance Asia magazine Best Local Bank - India
Hong Kong-based Finance Asia magazine "Best Local Bank - India"
Euromoney magazine "Best Bank in India"
Asiamoney magazine Commercial Bank in India 2002

2001
Hong Kong-based Finance Asia magazine Best Domestic Commercial Bank - India
Hong Kong-based Finance Asia magazine "Best Domestic Commercial Bank -India"
Euromoney magazine "Best Bank in India"
Forbes Global Named in the 300 Best Small Companies
one of the "20 for 2001" best FE-E&Y
Best Banks small companies
The Economic Times Awards for Corporate Excellence as the
Emerging Company of the Year

2000
 Hong Kong-based Finance Asia magazine Best Domestic Commercial Bank - India
Hong Kong-based Finance Asia magazine "Best Domestic Commercial Bank -India"
Euromoney magazine Best Domestic Bank
Business India " India's Best Bank"
Forbes Global Named in The 300 Best Small Companies
one of the "20 for 2001" best FE-E&Y
Best Banks small companies

2.4. MERGER

HDFC Bank and Centurion Bank of Punjab merger at share swap ratio of 1:29.

The Boards of HDFC Bank and Centurion Bank of Punjab met on 25 February, 2008 and
approved, subject to due diligence, the share swap ratio for the proposed merger of Centurion
Bank of Punjab with HDFC Bank. The Scheme of Amalgamation envisages a share exchange
ratio of one share of HDFC Bank for twenty nine shares of Centurion Bank of Punjab.

The combined entity would have a nationwide network of 1,148 branches (the largest
amongst private sector Banks) a strong deposit base of around Rs. 1,200 billion and net
advances of around Rs. 850billion. The balance sheet size of the combined entity would be
over Rs. 1,500 billion.

Commenting on the proposed merger, Mr. Deepak Parekh, Chairman, HDFC said, “We
were amongst the first to get a banking license, the first to do a merger in the private sector
with Times Bank in 1999, and now if this deal happens, it would be the largest merger in the
private sector banking space in India. HDFC Bank was looking for an appropriate merger
opportunity that would add scale, geography and experienced staff to its franchise. This
opportunity arose and we thought it is an attractive route to supplement HDFC Bank’s
organic growth. We believe that Centurion Bank of Punjab would be the right fit in terms of
culture, strategic intent and approach to business.”

Mr. Aditya Puri, Managing Director, HDFC Bank said, “These are exciting times for the
Indian banking industry. The proposed merger will position the combined entity to
significantly exploit opportunities in a market globally recognized as one of the fastest
growing. I’m particularly bullish about the potential of business synergies and cultural fit
between the two organizations. The combined entity will be an even greater force in the
market.”

Mr. Rana Talwar, Chairman, Centurion Bank of Punjab stated, “Over the last few years,
Centurion Bank of Punjab has set benchmarks for growth. The bank today has a large
nationwide network, an extremely valuable franchise, 7,500 talented employees, and strong
leadership positions in the market place. I believe that the merger with HDFC Bank will
create a world class bank in quality and scale and will set the stage to compete with banks
both locally as well on a global level.”

Mr. Shailendra Bhandari, Managing Director and CEO, Centurion Bank of Punjab
said, “We are extremely pleased to receive the go ahead from our board to pursue this
opportunity. A merger between the banks provides significant synergies to the combined
entity. The proposed merger would further improve the franchise and customer proposition
offered by the individual banks.”

2.5 FINANCIAL FIGURES

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2008

Sr.No. Particulars Quarter Quarter Year ended

Ended Ended 31.03.2008
30.06.2008 30.06.2007
unaudited unaudited audited
1. Interest Earned (a)+(b)+(c)+(d) 362173 206916 1011500

a) Interest/ discount on
advances/bills 263638 145362 696673

b) Income on Investments

c) Interest on balances with 95121 56047 287204

Reserve
Bank of India and other
interbank funds 2426 5337 27239

d) Others
988 170 384
Other Income
2. 59342 57254 228315
A) TOTAL INCOME (1) + (2)
3. 421515 264170 1239815

Interest Expended
4. 189826 108364 488712

Operating Expenses (i) + (ii)

5. 128938 77438 374562
i) Employees cost
54058 28388 130135
ii) Other operating expenses
74880 49050 244427
B) TOTAL EXPENDITURE
6. (4)+(5)
(excluding Provisions &
Contingencies) 318764 185802 863274

Operating Profit before

7. Provisions and
 Contingencies (3) -(6) 102751 78368 376541

Provisions (Other than tax) and

8. Contingencies 34447 30712 148478

Exceptional Items
9. - - -
Profit / (Loss) from ordinary
10. activities 68304 47656 228063
before tax (7-8-9)

Tax Expense
11. 21869 15533 69045

Net Profit / (Loss) from

12. Ordinary 46435 32123 159018
Activities after tax (10-11)

Extraordinary items (net of tax

13. expense) - - -

Net Profit / (Loss) (12-13)

14. 46435 32123 159018

Paid up equity share capital

15. (Face Value of 42462 33319 35443
Rs.10/- each)

Reserves excluding revaluation

reserves
16. (as per balance sheet of
previous - - 1114280
accounting year)

Analytical Ratios

(i) Percentage of shares held by

17. Government of India
NIL NIL NIL
(ii) Capital Adequacy Ratio

(iii) Earnings per share (Rs.) 12.2% 13.1% 13.6%

(a) Basic EPS before & after 11.0 1 0.0 4 6.2

extraordinary
items (net of tax expense) –not
annualized
 (b) Diluted EPS before & after
extraordinary items (net of tax
expense)
-not annualized

(iv) NPA Ratios

(a) Gross NPA

10.8 1 0.0 4 5.6
(b) Net NPA
150274 71016 90697
(c) % of Gross NPA to Gross
Advances 49607 21424 29852

(d) % of Net NPA to Net 1.5% 1.3% 1.3%

Advances

(v) Return on assets (average) - 0.5% 0.4% 0.5%

not
annualized
0.3% 0.3% 1.3%

Public Shareholding
- No. of shares
- Percentage of Shareholding
18.
342173776 250744008 27198992
80.6% 75.3% 0
76.7%

2.6 QUALITY POLICY

SECURITY: The bank provides long term financial security to their policy. The bank does
this by offering life insurance and pension products.
TRUST: The bank appreciates the trust placed by their policy holders in the bank. Hence, it
will aim to manage their investments very carefully and live up to this trust.
INNOVATION: Recognizing the different needs of our customers, the bank offers a range
of innovative products to meet these needs.
INTEGRITY
CUSTOMER CENTRIC
PEOPLE CARE “ONE FOR ALL AND ALL FOR ONE”
TEAM WORK
JOY AND SIMPLICITY

2.7 FIVE “S” PART OF KAIZEN

Focus on effective work place organization believe in
“Small changes lead to large improvement”
Every successful organization have their own strategy to win the race in the competitive
market. They use some technique and methodology for smooth running of business. HDFC
BANK also acquired the Japanese technique for smooth running of work and effective work
place organization.

Five ‘S’ Part of Kaizen is the technique which is used in the bank for easy and systematic
work place and eliminating unnecessary things from the work place.

BENEFIT OF FIVE “S”

It can be started immediately.
Every one has to participate.
Five “S” is an entirely people driven initiatives.
Brings in concept of ownership.
All wastage are made visible.

FIVE ‘S’

S-1 SORT SEIRI

S-2 SYSTEMATIZE SEITON
S-3 SPIC-N-SPAN SEIRO
S-4 STANDARDIZE SEIKETSU
S-5 SUSTAIN SHITSUKE

1. SORT:
It focus on eliminating unnecessary items from the work place. It is excellent way to free up
valuable floor space. It segregate items as per “require and wanted”.

2. SYSTEMATIZE:
Systematize is focus on efficient and effective Storage method. That means it identify,
organize and arrange retrieval. It largely focus on good labeling and identification practices.
Objective: “A place for everything and everything in its place”.

3. SPIC- n - SPAN:
Spic-n-Span focuses on regular clearing and self inspection. It brings in the sense of
ownership.

4. STANDERDIZE:
It focuses on simplification and standardization. It involves standard rules and policies. It
establish checklist to facilitate autonomous maintenance of workplace. It assigns
responsibility for doing various jobs and decides on Five S frequency.

5. SUSTAIN:
It focuses on defining a new status and standard of organized work place. Sustain means
regular training to maintain standards developed under S-4. It brings in self- discipline and
commitment towards workplace organization.
CHAPTER 3- RECRUITMENT & SELECTION PROCESS
Meaning:
Recruitment and Selection system refers to sourcing and building efficient Human
Resource to the organization to attain its objectives.
Functions:
1. Retail assets
• Credit cards
• Retail assets
• Retail credit
2. Retail liabilities
• Direct banking
• Direct sales liabilities
• Foreign exchange services
• Liabilities product group
• Marketing
• Retail branch banking
3. Support function
• Custody and depository services
• Finance
• Human resources
• Operations
4. Wholesale banking
• Corporate banking
• Credit and market risk
• Customer service desk
• Emerging corporate group
• Emerging enterprise group
• Equities and private banking
• FIG
• Health care finance
• Investment banking
• NRI businesses
• Stock exchange and correspondent banking

This policy complies with, and supports, the Company’s Equal Opportunities Policy by:
Ensuring that every stage of the recruitment and selection process is carried out in a
systematic way, based on pre-agreed criteria, to eliminate the potential for personal bias
affecting the decision making process.
Ensuring that all decision points are fully documented to assist with subsequent monitoring.
Making the whole procedure as open as possible, to ensure that all candidates understand
why decisions have been taken and, where they wish, to obtain meaningful feedback.
Enabling demonstration of robust, transparent processes and thereby providing a basis for
defence in the event of challenge.
There are seven main stages to the procedure:
Pre-advertisement
placing advertisements and dealing with enquiries and applicants
short-listing
interviewing and selection
Post-selection procedures
Induction
monitoring

Analyzing Your Workplace:

To assist you analyze your workplace to identify recruitment or selection issues for women,
we suggest you:
revisit your workforce profile to find where your female employees are.
consult with your employees.
examine your existing recruitment and selection policies and practices.

Developing Policy and Procedures

Put in place a policy requiring recruitment and selection processes to select the best person
for the job.
Develop a quality, consistent process for recruitment that delivers diverse recruits.
Have a recruitment strategy that links to your business plan, and to a strategy to retain
employees.

Reviewing Recruitment and Selection Opportunities

Monitor each stage of the recruitment process to identify any practice that may
disadvantage some candidates.
Investigate whether women have equal opportunity in the recruitment and selection process
by collecting information on the numbers of men and women:
applying for positions
being short-listed
being interviewed
being appointed, and
Survey staff about their perception of equity in recruitment procedures.
Consider collecting diversity information as part of the process. There could be a pool of
diverse candidates you’re not reaching or unnecessarily excluding.

Reviewing Job Descriptions:

Ensure all job profiles/descriptions reflect the real requirements of the job, rather than
describing the person who filled that job previously.
Write job profiles in language that encourages both men and women to apply – including
women of and Differing backgrounds. For example, avoid use of jargon and acronyms that
tend to be exclusive.

Recruiting and selecting the right people is paramount to the success of the HDFC BANK
Ltd And its ability to retain a workforce of the highest quality. This recruitment and selection
policy sets out the procedure to ensure that the best people are recruited on merit and that are
the recruitment process is free from bias and discrimination.

PRINCIPLES:
Following are the guiding principles for recruitment and on-boarding process.
• Attracting and recruiting the right people is one of the most important activities of the
organization and is the responsibility to be owned by each and every employee of the
organization.
• Merit will be the single most important factor in selection process.
• They will ensure a diversity, both gender and ethnicity by targeted candidate sourcing with
the help of recruitment vendors and the referral program.
• While skills and profile matching play an important role, they will hire people who are team
players and have the right attitude most relevant to the culture of the organization. Attitude is
as important as aptitude.
• They believe in becoming a company of giants and emphasis is in hiring people who can
grow bigger and better than they presently are.
• They believe in providing their employee with fulfilling career paths. Towards this, they
will post vacancies internally as a preferred option while evaluating external candidates.
• They believe that each candidate interviewed irrespective of whether she/he is selected
should become a friend of the organization. They treat all the candidates with the utmost
respect. They will be open and fair in communication with them; this way they also enhance
the brand image of the organization.
• They will continuously assess, identify and cultivate strategic talent pools including those at
the universities, management schools, and community forums to address their long term
needs.

HIRING APPROVAL
• All recruitment activities shall be undertaken based on the hiring plan as approved by the
Business Head, HR Head & the CEO. For each approved position, a hiring requisition will be
required prior to initiation of any recruitment activity. If the hiring was not included in the
planned budget, it will also require approval from the CEO based on a recommendation from
the Head HR and the CFO.
• Recruitment expense will be allocated to the concerned business unit, and expenditure
should be budgeted and pre-approved by the business unit head and the HR Head.

CANDIDATE SOURCING:
The hiring manager along with the Human Resource Department would decide the channel /
source to use based on the nature of the recruitment. The following sources of recruitment
may be considered:
• Internal Sources:
- Whenever any vacancy arises, the possibility of fulfilling the requirement internally via
reassignment and relocation, re-allocation of the responsibilities or internal promotion will be
explored by the hiring function along with the HR Department.
- Internal job postings to explore internal candidates.
• Employee Referrals – HDFC will encourage employees to refer suitable candidates for open
positions.
• Other external sources include:
- Recruitment agencies
- External job postings
- College / campus requirement
- Requirement advertisement

APPLICATION PROCESSING
HDFC will process all applications promptly and inform the applicant or source regarding the
status of the application. HDFC will respond to all solicited applications within 5 working
days of receiving the application.

INTERVIEW PROCESS
• All candidates are required to undergo a face to face interview with the interview panel
before selection.
• Interviews may be conducted at a place at mutually convenient locations and time in an
effort to maintain confidentiality of the hiring effort.
• One on one meeting shall be preferred as the interview format, however depending on the
constraints panel interviews / telephone / video conference screening could be used.
• For recruitment at junior levels, job fairs, universities etc, where large volume of
candidates, HDFC will use recruitment tests for purpose of short listing. The candidate may
be tested on the basic aptitude, analytical skills or other skills required for the job of the
candidates.
• The interview process will focus on the evaluating the candidates suitability in terms of the
job description and fit within the organization.
• Each interviewer will complete the interview feedback form and submit it to HR. HR will
compile the results from a various interviews and provide these to the line manager for the
final decision.
The following are the guidelines wit respect to the interview levels. The line manager will
own the overall interview process:
Position, Level Equipment Hiring Decision by Interview by Salary Fitment Offer Letter
Signed by Direct Report CEO Head CEO/ HR Head, Management Team (for relevant
functions) Approval - CEO
Proposal – HR Head CEO
State Head/ Regional Function Heads, Cluster Heads Regional Branch Heads, National
functional Heads Regional Branch Head / National Functional Head, Regional HR Approval
– CEO
Proposal – HR Head HR Head
Branch Manager / National Functional Managers Regional Branch Heads, National
functional Heads Regional Branch Head / National Functional Head, Regional HR, Cluster /
State Head
Approval – HR Head
Proposal – C & B Manager HR Head Senior Relationship Manager Regional Branch Head/
Branch Manager Regional Branch Head/ Branch Manager, Regional HR Approval – HR
Head
Proposal – C & B Manager Staffing Leader Junior Relationship Manager Branch Manager
Branch Manager, Cluster Head Approval – C&B Manager
Proposal – Regional HR Mgr. Regional HR Manager
For campus / bulk hiring process, each panel will be specifically authorized with respect to
hiring decision, pay by the HR Head & CEO prior to the process.

RECRUITMENT EXPENES:
• All recruitment expenses including recruitment fees, advertisement expenses and interview
related expenses will be allocated to the concerned business unit.
• The candidate will be informed about the nature of the expenses that are reimbursable and
the supporting documents required (in original). HR will ensure that candidate fills the
necessary reimbursement forms and that he/she receives the reimbursement at the earliest.
• Outstation/International Candidates - HDFC will pay for appropriate air fare and expenses
incurred for the stay for candidates who they decide to fly from other locations. Prior
approval from the Regional HR Leader / HR Head is required to invite candidates. For
candidates from International Locations, prior approval from the HR Head needs to be taken.

PRE-EMPLOYEMENT CHECK
This will include both a professional reference check as well as the background check.
• Professional reference check will be completed by the hiring manager. HDFC will request
contact information for 2 references from the candidate, and check the quality of previous
work experience and key personal characteristics/conduct/ previous record etc.
• For key positions in areas, HDFC will also perform a background check to assess the
integrity / conduct of the candidate.
• The following information regarding the candidate will be verified:
Proof of educational qualifications
 Any professional certificate that is essential to the job
Address details
Passport details
Date of birth
Proof of previous employment (service certificate)
Any negative feedback and comment in the reference check will be investigated by HR and if
found genuine shall be a cause for disqualification of the candidate or dismissal from
employment.

OFFER PROCESS:
• Once the hiring decision is finalized, HR will prepare an offer / fitment as per the
compensation structure and grade and keeping in mind the internal equity.
• The offer would be communicated to the selected candidates by the hiring manager along
with HR. The candidate will sign the contract letter to formally accept employment from the
organization.

PRE-EMPLOYMENT PROCESS
As an organization, HDFC will make all necessary arrangements to ensure a smooth joining
process for the employees. HR will provide the candidate a check list prior to joining to ease
joining formalities.

RELOCATION FOR EMPLOYMENT

Where the employee has to relocate and has been pre-approved by the HR Head and the
staffing leader, the relocating candidate shall be eligible for the following relocation
assistance:
The joining employ has the option to avail temporary accommodation (which includes
laundry) for the first two weeks arranged by organization. The stay in company provided
accommodation can be extended by two weeks further based on specific approval from the
Head HR. Where the stay extends beyond 4 weeks, the respective will not be paid housing
allowance foe the corresponding period.
Local travel assistance up to positions of RO/RM/equivalent and below will be reimbursed
for one week and for SRM/equivalent and above will be reimbursed up to two weeks. Food
expenses during the period will be reimbursed as per actual up to Rs 500/-per day per person.
Approved reasonable expenses incurred in transporting the personal goods including the
transportation /registration of one automobile to the city of work. Employees are advised to
use the designated moving agencies as per rates negotiated by Administration. Where
negotiated rates are not available, the employee is required to submit 3 quotations and secure
approval from Administration before assigning the contract to a moving firm.

EMPLOYEMENT OF RELATIVES
The organization employs, purely on merit, the relatives of our employees as long as it does
not create a potential conflict of interest. To avoid a potential conflict of interest and to
reduce the possibilities of favoritism – the following guidelines must be followed:
Relatives are not assigned to a position where he/she has the opportunity to check, process,
and review, approve, audit or otherwise affect the work of the persons cited and above.
NO one is assigned to a position where she/he influences the professional progress or
promotion of the persons cited above.
If one is aware of a situation that appears to be an opportunity for people to display
favoritism to relatives, one should contact the Department Head or Human Resources
Department. Employees will not be part of the hiring process of their relatives

DEFINITION OF RELATIVES:
Relatives would include husband, wife, children, parents, sisters, brothers, first cousins,
brothers-in law, sisters-in-law, mother –in-law, and father-in-law.

Employees who are aware of candidature of their relatives for the organization must
immediately report to the HR function in writing for information and records. Failure to
immediately report such cases will be considered as a serious violation of the recruitment
policy and may entail a disciplinary action.

INTERNSHIP PROGRAM
As part of university hire program, HDFC will provide internship opportunities to students.
Such internships will provide opportunities to students to learn while making real
contributions to the company. HDFC will follow the following process:
• HR will coordinate with business groups to identify potential opportunities for intern hires.
• Internship requests could be received either from the students directly or as nominations
from the educational institute.
• HR and hiring manager to tele-interview the candidates with subsequent personal interviews
in the office
• HR to coordinate with the hiring manager to develop the project plan for the hire
Based on the demonstrated capability, the intern will be provided with the opportunity to
work in multiple departments to gain a wider business understanding.

INTERNSHIP CRITERIA
Typically, the intern will be a pre-final year student of the Bachelor or Master degree
programs specializing in Financial Services/IT and any other business stream as required.
Interns will be expected to manage their won accommodation and it will not be provided by
the company.
Intern will be required to sign the confidentiality and code of conducts documents of the
company.

EMPLOYEE ON-BOARDING – PROCESS

The overall purpose of the new hire integration process is to ensure that the new employee is
able settle in smoothly and is able to contributing at the earliest.

PRE EMPLOYMENT INDUCTION

HDFC’s employee induction process shall begin as per the employee accepts the job offer.
The process includes:
Welcome pack: As soon as the candidate accepts the offer, a welcome pack will be sent to the
employee.
A congratulatory note regarding the decision to join the organization .
Contact details of a HR representative and the hiring manager .
A brief company overview document .
Pre-joining checklist: Include details of the documents required from the employee. In case
the employee is relocating from a different location, details of the relocation process and the
visa requirement will be outlined in this checklist .
Expectations on the first day of the joining
Office resources: HR shall intimate the immediate supervisor the joining date and immediate
supervisor shall work with the IT and administration team to set up the following 5 days prior
to employee joining, the following elements and are in working order: Email ID, phone,
computing resources, work space/office, access cards, joining kit including bank account
opening form, initial reading material.

POST JOINING ORIENTATION AND INDUCTION

Joining kit: The employee upon joining would be welcomed by the HR representative and
would be given a joining kit that will include: Access card, information on employee’s email
and phone number, Bank account opening form, corporate insurance application form(if
applicable),HR & Admin policy manual, other relevant reading material ( to be prepared by
hiring manager) Classroom Induction: The employee integration process will also include
classroom training and induction where the employee will receive presentations and trainings
on various topics that would further ingrain the into the organization.
On the job training: Besides formal training sessions, the employee will undergo on-the-job
function specific trainings that are facilitated by the respective functions to help the new
employee acquaint himself/herself with work in progress.

PROBATION POLICY
Probation is a trial that is mutual opportunity for the employee and HDFC to confirm
suitability for continued employment. The probation period is to establish a stronger
understanding of mutual capabilities, expectations and understanding which may include
functional training. The employee must demonstrate suitability for continued employment.
An assessment will be based on factors related to work performance, work habits,
productivity, attitude and compatibility, attendance and punctuality, and any other matter that
is linked to job performance and expectations. All new hires will be placed on probation for a
period of 6 months from the date of joining HR will initiate the confirmation process by
sending an appraisal form to the immediate supervisor before the completion of probationary
period. The appraisal form will need to be approved by the supervisor’s leadership.
All letters of confirmation or extension of probation will be signed by the HR head and will
be stored in employee file for records.
REFERRAL BONUS AMOUNT
• The Referral Bonus Program is operated under the authority of the Budget and Control
Board’s Employee Bonus Guidelines. Under these guidelines, an employee may receive
multiple bonuses, the total of which may not exceed $2,000 in any fiscal year.
• Referral bonus payments may be paid in a lump sum or in periodic payments until the new
employee has completed his or her probationary period. Payments cannot be made until the
referred candidate has been employed for a minimum of one month. For example, a $1,000
referral bonus can be structured as follows:
- $250 referral bonus awarded after three months from the hire date,
- $250 referral bonus awarded after six months from the hire date,
- $500 referral bonus awarded at the end of the probationary period.

REFERRAL BONUS PROGRAM ADMINISTRATION

The Referral Program operates in accordance with the following program requirements:
• Referral bonuses are awarded at the discretion of management with the Agency Director or
his designee having final approval authority.
• Funding for the program must come from existing agency resources.
• The Agency will provide a form for completion and submission by either the applicant or
the referring employee with the applicant’s application indicating that the referring employee
has made the referral.
• The Agency will designate a position as “hard-to-fill” before the position is posted.
• Employees selected for eligible positions must be employed by the agency for at least one
month before a referring employee may be eligible to receive a referral bonus. Referred
candidates cannot be current employees of the hiring agency in any capacity, to include
temporary, temporary grant, research grant, time- limited project, or contract employees.
Both the referring employee and the referred candidate must be employed by the agency
when any referral bonus is paid receive the referral bonus.
• Any disputes arising from the application of this program will be the responsibility of the
Agency Director or his designee to resolve and will not be considered a grievance under the
State Employee Grievance Procedure Act.
• The agency HR Office will monitor the use of the Referral Bonus Program and will report
annually to the Office of Human Resources information on the use of the Referral Bonus
Program.
• The hiring process will be fair and consistent with agency policy and procedures, with no
bias for or against candidates whose selection might make another employee eligible for a
referral bonus.
Amount paid to the employees who refer the candidates and if they get selected varies from
Rs. 7000 to Rs.2000 based on the grade of the employee refereed and the refereed candidate
placed.
This amount is paid to the employees in two ways:
1. Immediately when the candidate is joined
2. After the completion of 3 months of the candidate selected.
Only middle level and senior level management employees have the opportunity of referring
the candidates. This policy/scheme is not applicable to the top management employees. Also
the employees who are under probation or training period are not eligible for this employee
referral policy.

FINDINGS
1. Recruitment at an officer and managerial level is not done effectively.
2. Many people in the organization today are in the wrong jobs and as a result, they are not
utilizing their full potential.
3. Hiring people based on personal connections when the person is not qualified for the job.
4. Most recruitment that involves managers is done during discussions at lunch hour, at social
clubs or during the coffee break time.
5. Inadequate recruitment procedures resulted in a number of staff not being sufficiently
qualified either for the positions they hold or their grades levels, especially in management
positions.
6. Psychometric test is not conducted during the selection process.
7. Confusion in the designation and level to the employees even after permanent status for
employment is given.

8. Proper training is not given to the recruitment team and manager.

9. Reaching few prospects due to internal recruitment, internet advertising most of the time.
CHAPTER 4- RESEARCH OBJECTIVES AND SCOPE OF RESEARCH PROJECT

4.1 PROBLEM DEFINATION:

Sales Executives were with good background human being and through rigorous process of
recruitment but still not able to perform up to the expectation level of company, HR is not
able to sort out the problem why the performance is not coming even after giving the full
marketing support. The communication technique and dealing with the customers is also a
problem to the sales executives.

4.2 OBJECTIVES OF RESEARCH PROJECT:

4.2.1 PRIMARY OBJECTIVES:

To open new savings accounts by convincing customers and to promote the benefits of
those which are provided by the bank.
To find the different way of convincing customers.
To study brand image of the bank.
To increase the business of the bank.

4.2.2 SECONDARY OBJECTIVES:

To determine the need and purpose of a sales executive.
To understand the deciding criteria for people to become sales executive.
To offer suggestions based upon the findings.

4.3 GEOGRAPHICAL SCOPE:

The same problem was with the all other branches of HDFC Bank even out of the Ghaziabad
city. The management is conducting the same research on a big ground while my contribution
is tiny. Though my sample size and geographical area was defined and confine to a particular
territory but the application of output from the research are going to be wide.

4.4 PRODUCT SCOPE:

Studying the increasing business scope of the bank.
Market segmentation to find the potential customers for the bank.
To study how the various products are positioned in the market.
Corporate marketing of products.
Customers’ perception on the various products of the bank.
CHAPTER 5- RESEARCH METHODOLOGY AND LIMITATIONS

All the findings and conclusions obtained are based on the survey done in the working area
within the time limit. I tried to select the sample representative of the whole group during my
job training. I have collected data from people linked with different profession at Ghaziabad.

5.1 RESEARCH PLAN:

5.1.1. Preliminary Investigation: In which data on the situation surrounding the problems
shall be gathered to arrive at :
The correct definition of the problem.
An understanding of its environment.

5.1.2. Exploratory Study: To determine the approximate area where the problem lies.

5.2 RESEARCH DESIGN:

Research was initiated by examining the secondary data to gain insight into the problem. By
analyzing the secondary data, the study aim is to explore the short comings of the present
system and primary data will help to validate the analysis of secondary data besides on
unrevealing the areas which calls for improvement.

5.2.1 DEVELOPING THE RESEARCH PLAN:

The data for this research project has been collected through self Administration. Due to time
limitation and other constraints direct personal interview method is used. A structured
questionnaire was framed as it is less time consuming, generates specific and to the point
information, easier to tabulate and interpret. Moreover respondents prefer to give direct
answers. In questionnaires open ended and closed ended, both the types of questions has been
used.

5.2.2 COLLECTION OF DATA:

1: Secondary Data: It was collected from internal sources. The secondary data was collected
on the basis of organizational file, official records, news papers,magazines, management
books, preserved information in the company’s database and website of the company.

2: Primary data: All the people from different profession were personally visited and
interviewed. They were the main source of Primary data. The method of collection of primary
data was direct personal interview through a structured questionnaire.

5.3 SAMPLING PLAN:

Since it is not possible to study whole universe, it becomes necessary to take sample from the
universe to know about its characteristics.
Sampling Units: Different professionals Chartered Accountants, Tax Consultants,
Lawyers, Business Man, Professionals and House Wives of Meerut.
Sample Technique: Random Sampling.
Research Instrument: Structured Questionnaire.
Contact Method: Personal Interview.

5.4 SAMPLE SIZE:

My sample size for this project was 200 respondents. Since it was not possible to cover the
whole universe in the available time period, it was necessary for me to take a sample size of
200 respondents.

5.5 DATA COLLECTION INSTRUMENT DEVELOPMENT: The mode of collection of

data will be based on Survey Method and Field Activity. Primary data collection will base on
personal interview. I have prepared the questionnaire according to the necessity of the data to
be collected.

5.6 RESEARCH LIMITATIONS:

It was not possible to understand thoroughly about the different marketing aspects of the
Financial Consultant within 60 days.
As stipend, money was not given it was difficult to continue the project work.
All the work was limited in some limited areas of Ghaziabad so the findings should not be
generalized.
The area of research was Ghaziabad and it was too vast an area to cover within 60 days.
CHAPTER 6- DATA ANALYSIS , INTERPRETATION AND PRESENTATION

Q1. Your Age?

TABLE
Serial no. Age category Number of employees Percentage
1. 18-23 Years 40 20%
2. 24-29 Years 70 35%
3. 30-35 Years 60 30%
4. 35 Years and above 30 15%
Total 200 100%

Base 200 respondents

GRAPH
 percentage
40%
35%
35%
30%
30%

25%
percentage
20%
20%
15%
15%

10%

5%

0%
18-23 Years 24-29 Years 30-35 Years 35 Years and above

Interpretation
From the table and graph above it can be seen that
20% employee’s age are 18 to 23 years.
35% employee’s age are 27 to 29 years.
30% employee’s age are 30 to 35 years.
15% r employee’s age are 35 to above years.

Q2. Marital Status?

TABLE
Sr. No. Category No. of employees Percentage
1 Married 140 70%
2 Unmarried 60 30%
Total 200 100%

Base 200 respondents

GRAPH
 Percentage
80%
70%
70%
60%
50%
Percentage
40%
30%
30%
20%
10%
0%
Married Unmarried

Interpretation
From the table and graph above it can be seen that
70% employees are married.
30% employees are unmarried.

Q3. Educational Qualification?

TABLE
Sr. No. Category No. of employees Percentage
1 Under graduate 50 25%
2 Graduate 80 40%
3 Post graduate 70 35%
Total 200 100%

Base 200 respondents

GRAPH
 percentage
45%
40%
40%
35%
35%
30%
25% percentage
25%
20%
15%
10%
5%
0%
Under graduate Graduate Post graduate

Interpretation
From the table and graph above it can be seen that
25% employee’s are Under graduate.
40% employee’s are Graduate.
35% employee’s are Post graduate.

Q4. Numbers of years are you in Meerut?

TABLE
Sr. No. Category No. of employees Percentage
1 Less than 5 years 78 39%
2 More than 5 years 122 61%
Total 200 100%

Base 200 respondents

GRAPH
 Percentage
70%
61%
60%

50%
39% Percentage
40%

30%

20%

10%

0%
Less than 5 years More than 5 years

Interpretation
From the table and graph above it can be seen that
39% employee’s are in Meerut for less than five years.
61% employee’s are in Meerut for more than five years.

Q5. Your annual household income?

TABLE
Sr. No. Category No. of employees Percentage
1 Less than 2 lacs 98 49%
2 Between 2 to 5 lacs 62 31%
3 Between 5 to 8 lacs 30 15%
4 More than 8 lacs 10 5%
Total 200 100%

Base 200 respondents

GRAPH
 Percentage
60%
49%
50%
40%
31%
30%
20% 15% Percentage
10% 5%
0%
s s s s
lac lac lac lac
2 5 8 8
an to to an
th 2 5 th
ss en en or
e
Le twe twe M
Be Be

Interpretation
From the table and graph above it can be seen that
49% employee’s annual household income is less than 2 lacs.
31% employee’s annual household income is between 2 to 5 lacs.
15% employee’s annual household income is between 5 to 8 lacs.
5% employee’s annual household income is more than 8 lacs.

Q6. What is your perception about different products/services provided by HDFC

bank?
TABLE
Sr. No. Category No. of employees Percentage
1 Lucrative 50 25%
2 Not lucrative 120 60%
3 No idea 30 15%
Total 200 100%

Base 200 respondents

GRAPH
 Percentage
70%
60%
60%

50%

40% Percentage

30% 25%
20% 15%
10%

0%
Lucrative Not lucrative No idea

Interpretation
From the table and graph above it can be seen that
25% employee’s perception about different products is lucrative.
60% employee’s perception about different products is not lucrative.
15% employee’s have no idea.

Q13. Do you know about HDFC Bank’s recruitment policies ?

TABLE

Sr. No. Category No. of respondents Percentage

1 Yes 82 41%
2 No 118 59%
Total 200 100%

Base 200 respondents

GRAPH
 Percentage
70%
59%
60%

50%
41%
40% Percentage

30%

20%

10%

0%
Yes No

Interpretation
From the table and graph above it can be seen that
41% respondents are known about HDFC Bank’s recruitment policies related to sales
executives.
59% respondents are not known about HDFC Bank’s recruitment policies related to
sales executives.
CHAPTER 7- CONCLUSIONS AND SUGGESTIONS
7.1 CONCLUSIONS:
Recruitment is essential to effective Human Resources Management. It is the heart of the
whole HR systems in the organization. The effectiveness of many other HR activities, such as
selection and training depends largely on the quality of new employees attracted through the
recruitment the recruitment process.

Policies should always be reviewed as these are affected by the changing environment.
Management should get specific training on the process of recruitment to increase their
awareness on the dangers of wrong placements.

Effective recruitment is important in achieving high organizational performance and

minimizing labor turnover. As of now HDFC Bank Ltd. has a team of effective human
resource which is efficiently managing the organization at its best. Though the recruitment
process adopted by the organization needs to be improved, challenges are ahead for the HR
Department to recruit people after the effect of recession.

In the present competitive & dynamic environment, it has become essential for organization
to build and sustainable.

In competitive advantage, the Communication skill set has assumed more importance than
even before. Dynamic and growth-oriented organization recognizes Communication as an
important aspect of the Recruitment and Selection system for managerial function in a rapidly
changing and economic environment.

Insurance industries should possess a valuable work force with good communication skill sets
to get a good deal or business from their customers. In this sector the Open Market channel
is the main source of revenue for the company for which they should be able to communicate
well with their clients. Then the company can reach its profitability and objectives easily.

The company should take the suggestions and ideas from the employees and can conduct and
examine the communication skill set within the employees. So that they can analyze the need
and act accordingly for a better result and the growth of its own and valuable workforce.

7.2 SUGGESTIONS:
1. Psychometric tests have to be conducted to assessing the personality of the applicants –
will they fit in?
2. Look for different skills as well as the ideas of the candidate at the time of recruitment and
selection process.
3. Adopting adequate recruitment procedures to employ efficient and talented people.
4. Job responsibilities have to be clearly explained to the candidate before the joining
formality is done.
5. Campus recruitments, job fairs may attract more skilled and talented employees towards
the organization.
6. Provide orientation training to all new employees before their initial work assignments and
to all current employees who receive a different task or job.
7. Referral scheme has to be encouraged more at times when the requirement is urgent.
CHAPTER 8- LIMITATIONS
LIMITATIONS
Every work has its own limitation. Limitations are extent to which the process should not
exceed. Limitations of this project are:-
The project was constrained by time limit of two months.
Mindset of people may very depending upon their age, gender, income etc.
Getting appointment from the concern person was very difficult.
People mind set about the survey was an obstacle in acquiring complete
information & positive interaction.
Respondents were very busy in their schedule. So it was very time consuming for
them to answer all the questions properly.
ANNEXURES
1. QUESTIONNAIRE

QUESTIONNAIRE

Name –
Company’s name –
Designation –
Date-
Note – Please tick the appropriate option.

1. What source you adopt to source candidates?

a. Employee referral
b. Campus recruitment
c. Advertising
d. Recruitment agencies
e. Job portals
f. Other, pls specify –

2. How many stages are involved in selecting the candidate?

a. 1
b. 2
c. 3
d. 4
e. More

3. Do you use any of the following tests during the process of recruitment?
a. Written
b. Aptitude
c. Group Discussion
d. Personal Interview
e. Psychometric test
f. Other, pls specify –
4. How do you track the source of candidate?
a. Manual
b. Software
c. Online
d. Windows. Xls

5. Apart from the HR Manager, who all from the other departments are required to get
involved in interviewing process?
a. Sales
b. Administration
c. HR Executives
d. Other, pls specify –

6. What is the average time spent by sales dept. during recruitment (each candidate)?
a. 10mins.
b. 10 to 20mins.
c. 20 to 30mins.
d. More

7. What is the average time spent by HR dept. during recruitment (each candidate)?
a. 10mins.
b. 10 to 20mins.
c. 20 to 30mins.
d. More

8. What is the average time spent by Admin dept. during recruitment (each candidate)?
a. 10mins.
b. 10 to 20mins.
c. 20 to 30mins.
d. More

9. Do you follow different recruitment process for different grades of employees?

a. No
b. Yes

10. What is the back out percentage of candidates after being offered?
a.1-5
b.5-10
c.10-15
d. 15-20

11. What percentage of candidates leave within the period of less than1- 3 month?
a.1-5
b.5-10
c.10-15
d. 15-20

12. What percentage of candidates leave within the period of less than3- 6 month?
a.1-5
b.5-10
c.10-15
d. 15-20

13. What percentage of candidates leave within the period of less than 6-12 month?
a.1-5
b.5-10
c. 10-15
d. 15-20

14. Does the company reimburse the travelling cost incurred by the candidate for
Appearing in the interview?
a. Yes
b. No
c. Depends, how –

15. What is the average cost of travelling that the company incurs on interviewers, if the
interview is in other city?
16. Do you take any technological support for the process of recruiting?
a. Telephone
b. Video conferencing
c. Online support
d. Other, pls specify –

17. Are you aware of the concept of “Video Resume”?

a. No
b. Yes, then do you use it – Yes/No

18. If the recruitment type is “Employee Referral” then what special privilege has to be paid
to the one who has referred?

19. In how much time does the whole process generates results?
(Time taken in the whole process i.e. from tests, personal interviews to final list of
selected candidates)

20. Do you do the “Employment Eligibility Verification”? Yes/No

If yes, then, what method you take up to perform it?
a. Internally
b. Through agencies

21. What kind of verifications you do?

a. Educational qualifications
b. Legal background check
c. Professional background check d. Reference check
e. Family background check

22. How much do you spend in reference check of 1 candidate?

23. What is the average amount spent on each recruitment of an entry-level candidate from
recruitment to T&A?
24. How much do you spend on T&D and Induction per employee?

Generic -
25. How many recruitments you did in the last fiscal year?

26. Out of 100% recruitment that you did in the last fiscal year, please determine which
source generated what % of candidates?
Through –
a. Advertising - ………%
b. Employee reference - ………. %
c. Recruitment agency - ………. %
d. Job portals - ………%
e. Others - ………. %

27. What is the total number of personnel in your HR department?

28. Do you have a legal advisor for HR department? Yes/No

If yes, then is it ..
a. Internal
b. External

29. Do you have any system to calculate cost per recruitment?

a. No
b. Yes, pls specify –

30. How much % do you pay to the consultant?

31. Which is the biggest challenge that you face in the whole process of recruitment?

32. What source has provided you with highest performers?

(Both quantity wise and quality wise)

33. What is the retention rate for those employees hired from employee referrals Vs
agencies?
34. Have you outsourced any of the recruitment activities? – Yes/No
If yes, then pls specify which one?

35. Are you aware of the concept of RPO – Recruitment Process Outsourcing?
a. No
b. Yes, through what source –

36. Have you ever thought of any way to reduce the time to hire and not have impacted the
quality of the hire?
a. Yes
b. No

37. Can you please provide us with the hierarchical manpower structure that you follow for
recruitment process?
BIBLIOGRAPHY

1. BOOKS AUTHORS
Marketing Management (10th Edition) Philip Kotler
Marketing Management (3rd Edition) V.S. Ramaswamy
Research Methodology (2nd Edition) C.R.Kothary
Research Methodology S.P. Kasande

2. NEWS PAPERS
Times of India
Financial Express

3. WEBSITES
www.hdfcbank.com

www.google.com