CHAPTER-1

INTRODUCTION

CHAPTER : 1

1.1

Banking An Introduction Financial intermediaries play a vital role in the economic development of

country financial intermediaries may be classified into different groups. The Indian Money. Market is classified into organized sector, (comprising, private, public, foreign commercial banks and cooperative banks, together known as scheduled banks) and the unorganized sector (comprising individual, family owned indigenous bankers or money lenders and non banking financial companies). The unorganized sector and micro credit are still preferred over traditional banks in rural and sub-urban areas especially for non-productive purposes like ceremonies and short duration loans. To increase the rural credit and employment government has taken various steps since independence at centre and state level, which includes nationalization of banks in 1969 to establish rural banks and co-operative banks. The essential function of a bank is to provide services related to the storing of values and the extending credit. The evolution of banking dates back to the earliest writing and continues in the present where a bank is a financial institution that provides banking and other financial services. Currently the term bank is generally understood an institution that holds a banking license. Banking licenses are granted by financial supervision authorities and provide rights to conduct the most fundamental
2

banking services such as accepting deposits and making loans. There are also financial institutions that provide certain banking services without meeting the legal definition of a bank, a so called non-bank. Banks are a subset of the financial services industry. The word bank is derived from the Italian banca, which is derived from German and means bench. The terms bankrupt and broke are similarly derived from banca rotta, which refer to an out of business bank, having its bench physically broken. Money lenders in Northern Italy originally did business in open areas, or big open rooms, with each lender working from his own bench or table. Typically, a bank generates profits from transaction fees on financial services or the interest spread on resources it holds in trust for clients while paying them interest on the asset.

1.2

Services typically offered by banks Although the type of services offered by a bank depends upon the type of

bank and the country, services provided usually include: Directly take deposits from the general public and issue checking and savings accounts. Lend out money to companies and individuals. Cash checks Facilitate money transactions such as wire transfers and cashiers checks

Issue credit cards, ATM and debit cards. 1.3 Evolution of Banking in India:The evidence of the existence of money lending operation in India is found in Vedic literature although no information is available regarding their pursuit as profession till 500 BC after this period it is evident the existence of banking although the system and methods were different from modern banking. Their main activity was to provide the finance to traders and sometime to kings who were in financial difficulties. During the period of mugal rules the issue of various kind of metallic money gave indigenous banks great opportunities for developing the very profitable business of money. But the indigenous bankers could not developed much because of the limited area of their working. Their operation was limited to lending money to people for their small needs e.g. for ceremonies etc. or they lend money to trade houses they were generally not in the business of collecting deposits and savings. The present system of banking in India was started with establishment joint stock banks by European. The first joint stock bank was established in the year 1770 namely Bank of Hindustan as a branch of M/s Alexander & Co. of Calcutta. In 1832 this bank was liquidated due to liquidation of the parent firm. The next bank came into existence was Bengal Bank in 1790 and there after an act of Indian Legislature was passed for establishment of group of banks. These banks were divided into two groups one comprise three presidency banks and other group comprise the Indian joint stock banks.
4

The first presidency bank was established in 1806 at Calcutta under the name of Bank of Calcutta it was later renamed in 1809 as Best of Bengal. The other two presidency banks were Bank of Bombay and Bank of Madras which were established in 1840 and 1843 respectively. During this period several joint stock banks were established. The first bank with limited liability was established in 1881 named Outh commercial Bank. In 1894 Punjab National Bank was also established under Indian Management. The swadeshi movement that began in 1906 gave much stimulus to banking business. Some of the prosperous banks of present time viz. Central Bank of India, Bank of Baroda, Bank of Madras etc. were established during this period. But following serious financial trouble the three presidency banks were amalgamated into Imperial Bank of India in 1919. The banking crises during this period cause failure of several banks in various states. In 1934 the British rulers pass RBI act and established a central bank named Reserve Bank of India to control the banking and money related activities. The RBI starts functioning on 1st April 1935. But the scope and powers of RBI were limited and due to many other problems the need was felt to control and regulate the activities of commercial banks and the government passed the Banking Companies Ordinance in 1946 and Banking Regulation Act in the same year. After independence in the year 1949 a new era in the history of Indian Banking was began. In this year for the 1st time Govt. of India passed a comprehensive legislation to control the activities of commercial banks. Under
5

this act the Reserve Bank of India was nationalized and given more powers to control and supervise on commercial banks under Reserve Bank of India Act 1949 further in order to bring commercial banks into main stream of economic development, with define social obligation and objectives the Government of India issued an ordinance on 19th July 1969 for acquiring the ownership and control of fourteen major banks in the country with deposits exceeding Rs. 50 crore each and on 15th April 1980 six more banks were nationalized. Structure of Banking

Reserve Bank of India

Commercial Banks

Regional Rural Banks

Cooperative Bank

Public

Private

subsidiaries of Nationalized banks

State Cooperative banks

1. State Bank group 2. Other nationalized Bank

1. India 2. Foreign

Primary credit Agencies

CHAPTER-2
BANK OF INDIA AN OVERVIEW

2.1

HISTORY OF BANK OF INDIA:Bank of India was founded on 7th September, 1906 by a group of

eminent businessmen from Mumbai. The Bank was under private ownership and control till July 1969 when it was nationalised along with 13 other banks. Beginning with one office in Mumbai, with a paid-up capital of Rs.50 lakh and 50 employees, the Bank has made a rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. In business volume, the Bank occupies a premier position among the nationalised banks. The Bank has 3101 branches in India spread over all states/ union territories including 141 specialised branches. These branches are controlled through 48 Zonal Offices. There are 29 branches/ offices (including three representative offices) abroad. The Bank came out with its maiden public issue in 1997 and follow on Qualified Institutions Placement in February 2008. . Total number of shareholders as on 30/09/2009 is 2,15,790. While firmly adhering to a policy of prudence and caution, the Bank has been in the forefront of introducing various innovative services and systems. Business has been conducted with the successful blend of traditional values and

ethics and the most modern infrastructure. The Bank has been the first among the nationalised banks to establish a fully computerised branch and ATM facility at the Mahalaxmi Branch at Mumbai way back in 1989. The Bank is also a Founder Member of SWIFT in India. It pioneered the introduction of the Health Code System in 1982, for evaluating/ rating its credit portfolio. The Bank's association with the capital market goes back to 1921 when it entered into an agreement with the Bombay Stock Exchange (BSE) to manage the BSE Clearing House. It is an association that has blossomed into a joint venture with BSE, called the BOI Shareholding Ltd. to extend depository services to the stock broking community. Bank of India was the first Indian Bank to open a branch outside the country, at London, in 1946, and also the first to open a branch in Europe, Paris in 1974. The Bank has sizable presence abroad, with a network of 29 branches (including five representative office) at key banking and financial centres viz. London, Newyork, Paris, Tokyo, HongKong and Singapore. The international business accounts for around 17.82% of Bank's total business. 2.2 MISSION To be a Top-class Bank to achieve sustained growth of business and profitability, fulfilling socio-economic obligations, excellence in customer

service; through upgradation of skills of staff, their effective participation and making use of state-of-the-art technology. 2.3

STRENGTHS Country-wide presence in India Overseas Presence with Profitable Overseas Operations Strong Capital Base High Proportion of Long Term Liabilities A Well Diversified Asset Portfolio A Large and Diversified Client Base Fully Computerised Branches at Major Centres

2.4

RELATIONSHIPS BEYOND BANKING Our slogan Relationships beyond Banking reflects its commitment

towards customers. This bank always give priority to the relationships with customers. In promotional activities, It will be fair and reasonable in highlighting the salient features of the schemes marketed by us. Misleading or unfair highlighting of any aspect of any scheme/service marketed by the Bank leading to unfair practice shall not be resorted to by the Bank.

10

In continuing endeavour to serve customers better, I has considerably extended the business hours for public transaction at the branches on all weekdays. Besides, several of its branches have Express DD Counter from where Demand Drafts can be purchased without any waiting time. 2.5 ORGANISATION STRUCTURE Headquartered in Mumbai, the Bank has 48 Zonal Offices and 3106 Branches spread all over India and 31 Foreign Branches and . Branches located in a geographical area report to the Zonal Office having jurisdiction over that area. 2.6 SCHEME & SERVICES We offered a numbers of services to our valuable customers time to time. We have more than six different types of saving a/c and more than five term deposit schemes. We also have special scheme for our NRI depositors. We offer a lot of online services for our all precious customers like online net banking, mobile banking, pay bills, Online share trading facility, reservations of airlines and railways tickets, e-payment of Direct tax & e-payment of central and excise tax.

11

2.7

OBJECTIVES To provide quality banking services with enhanced customer orientation,

higher value creation for stakeholders and to continue as a responsive corporate social citizen by effectively blending commercial pursuits with social banking.

2.8

Participation in Social Activities:The bank has used its common goal fund for providing better medical

facilities i.e. blood analyzer, bed sheets, mattresses, water coolers in the hospitals and water tanks and water coolers to some schools and bus stands. The bank has also generally contributed to chief ministers relief fund and provides financial assistance to extent of Rupees 40,000 annually for cancer detention and plastic surgery camps. The bank has also donated furniture to nari niketan and bal ashram as well as donated sodium lights for beautifying a tourist place etc.

12

CHAPTER-3
AN OVERVIEW OF JOB SATISFACTION AND RESEARCH DESIGN

13

SECTION - I
3.1 Introduction The term job satisfaction was brought to limelight by HOPPOCK. He reviewed 32 studies on job satisfaction conducted prior to 1933. According to him job satisfaction is The combination of Psychological, psychological and environmental circumstances the cause a person to truthfully say I am satisfied with my job. This definition points to the factor affecting job satisfaction but, does not indicate the nature of job satisfaction.

3.1.1 Concept Job satisfaction is the end feeling of a person after performing a task. To the extent that a persons job fulfils his dominant needs and is consistent with his expectations and values, the job will be satisfying. The feeling would be positive or negative depending upon whether need is satisfied or not.

3.1.2 Job Satisfaction Vs Morale Vs Motivation:Job satisfaction is different from motivation and morale. Motivations refers to the willingness to work. Satisfaction on the other hand, implies a positive emotional state. Morale implies general attitude towards work and environment. It is a phenomenon whereas job satisfaction is a individual feeling. Job satisfaction may be considered a dimension of morale and morale could also be source of satisfaction.
14

3.1.2.1

Determinants of Job Satisfaction These can be divided into three categories:1. Personal Factors 2. Factors related to job 3. Factors controlled by the management.

1. Personal Factors:(a) Age:- According to study conducted by Morse, workers of higher age

group have more job satisfaction then younger workers.

(b) Sex:- According to findings of several studies, women in general have

more job satisfaction than men do. Such difference may implied by the fact that females have relatively lower aspiration and elicitations than males and have less economic burden.

(c) No. of dependents in the family:- There is a negative relationship

between the No. of dependent and job satisfaction.

(d) Length of Service:- In the preliminary stage of service, more job

satisfaction is expressed and then it decreases gradually.

15

(e) Intelligence:- It is common assumption that to perform a job

satisfactorily, intelligence is required.

(f) Level of aspiration:- According to Morse (1953) when the aspiration

& the performance do not run parallel, there is frustration, which leads to dissatisfaction.

(g) Fulfilment of personal needs:- Job satisfaction to a great extent

depends upon the fulfillment of personal needs. Schaffe found that a higher co-ordination existed between the persons strongest need & over all satisfaction.

(h) Education:-

Education of employees are also determine job

satisfaction. Employees who could not pass middle school examination had greater job satisfaction than more educated employees.

2. Factors Related To Job:(a) Nature of the Job:- The rotating jobs and jobs giving the scope for

variety and change gave many workers more satisfaction than routine and mechanical job.

16

(b) Skill of Works:- The skilled job brings a strong feeling of satisfaction

in the worker. The nature of work, the status of job and responsibility etc. are influenced by the skill of the job.

(c) Size and location of the organization:- The small organizations and

factories increase the level of morale of the workers as the hope for promotion facility based on impartially, justice and competency is better here.

(d) Considerate leadership:- There is a large number of research studies

that point out to the conclusion that considerate leadership results in higher job satisfaction than inconsiderate leadership results in higher job satisfaction than inconsiderate leadership. If suppose, supervisors or any superiors Bank of India with their subordinates, the subordinates will be more satisfied, and if their inconsiderate decisions harm the subordinate or they lack leadership qualities. The subordinates will feel themselves dissatisfied.
3. Factors controlled by management:(a) Salary:- Salary is an important part of job satisfaction. It help to raise

the living standard of employees which gave the ultimate satisfaction.

17

(b) Security:- The findings of several researchers indicate that security

contributes highly job satisfaction. Each and every employees in organization or industry want himself to be fully secure in his job. In secure jobs doubtless brings a definite felling of dissatisfaction in works.

(c) Vocational Quidance:- Lack of proper vocational guidance may lead

to job satisfaction. A person who is not suitable for a job in term of his capabilities, attitude and interest, is not expected to satisfied with his job. But proper guidance about the selection of a vocation in accordance with the ability and interest of the person, give greater satisfaction in job.

(d) Scope for promotion:- When there is sufficient scope for promotion

workers, get job satisfaction. The scope for promotion plays greater roll in job satisfaction that unskilled workers. In another study, it was noticed that promotion is more important for younger than older workers.

(e) Working Conditions:- If working conditions on the job I the

organization are better in comparison to similar job in other organization, the workers will be more satisfied. If these are wrong, they will feel dissatisfied. Suitable working conditions improve the attitude and morale of worker and contribute to the feeling of satisfaction in work. The another factor of job satisfaction are:18

Relationship with Co-workers Responsibilities Supervision

It is the factor that prompts service beyond the line of study in relation to job satisfaction.

3.3

IMPORTANCE OF JOB SATISFACTION IN INDUSTRIAL ORGANISATION:It is an established fact that job satisfaction usually leaks to qualitative

improvement in performance. Satisfaction in job induces motivation and interest in work, when work becomes interesting, the worker gets pleasure from work. More especially the personal pleasure that the worker gets from job of his choice gives him tremendous psychological satisfaction. Every individual has certain needs and motives which he wants to fulfill. Any job which fulfill these needs and motives gives him satisfaction. It is probably major aim of every worker to get maximum satisfaction from his job. Employees feel equally that pleasure in job enhances production and mental satisfaction. According to Tiffin and McCoS Mick (1971) the satisfaction which people experience in their jobs is in large part the consequence of the extent of which the various aspects of their job related value systems. Thus every individual has special abilities, aptitudes, inhered capacities, interests and

19

aspirations. Those jobs which provide the worker a chance to fulfill his interest and aptitudes, give him satisfaction and pleasure. Natural interest in job of his satisfaction motivates him for efficient and qualitative performance. Moreover these are some situational factors responsible for job incentive systems, the work environment, length of working hours, behaviours of the supervisor, security, scope for promotion and recognition of merit. There are several benefits which are derived from the study of job satisfaction by the management.

1.

Indication of general level of satisfaction:- A study of job

satisfaction gives the management an indication of general level of satisfaction among the workers of the company. The study can made with reference to a particular subject and a particular group of employees.

2.

Communications:- The various communication is bought on by

job satisfaction survey. The flow of communication is in all directions, i.e. upward, downwards and lateral because such surveys are planned taken up and discussed, when we encourage the worker to explain what is in their minds, upward communication may be fruitful.

20

3.

Improved attitudes:- The attitudes of workers are improved

through job satisfaction study. It acts as a safety value; releases ones emotions by expressing their emotions during the courses of survey.

4.

Determining training needs:- It determines the training needs

of the employees and the supervisors. During the course of survey, it can be well established in what areas, the employees are dissatisfied or not satisfied. It helps the management to determine whether employees or supervisors need training and in which field so that management can arrange for the training.

5.

Benefits for unions:- Generally, executives and union office

bears discuss about the various wants of the employees but surveys verify such arguments, unions rarely oppose the survey results and in most of the case support them, especially when they know that will share the results.

3.4

NECESSITY OF STUDYING JOB SATISFACTION:The finding of several investigations suggest that the job satisfaction is

positively correlated with high production. The results of the study by Katz Haimon (1947) indicate that workers satisfied with their jobs produce more of course, some other studies also indicate that not always and in all cases there is
21

high production due to job satisfaction. However it cannot be denied that production is partly a function of job satisfaction. Because of specialization of work in modern industries, work lacks intrinsic interest but job satisfaction leads: rates. To build loyalty & commitment towards company. To increase productivity. To raise the morale of the employees. To have a healthy workforce & working environment. To reduce absenteeism, employee turn over & accident

3.5

MEASUREMENT OF JOB SATISFACTION:An over all analysis of the problem of job satisfaction leads only to

conclude that job satisfaction is a generalized attitude in three areas such as specific function, individual adjustment and group relationships. In order to measure job satisfaction the general level of satisfaction of the workers have been taken.

22

SECTION II 3.6 RESEARCH DESIGN It is planning for research, A research design is a arrangement of conditions for collection, interpretation and analysis of data in a manner that aims to combine relevance of research purpose with economy in procedure. In this Study

3.7
(i)

OBJECTIVES OF THE STUDY The objective of the study is to find out the level of job satisfaction in Bank of India.
(ii)

An attempt is made to establish a relationship between several factors to job satisfaction among the employee of Bank of India.

3.8

Rationale of the Problem:The idea for the present study took shape in the view of the fast changing

internal environment. Which made an influence on the internal environment of any organization with the advent of changed regulation increasing competition, new attitude of management & employee. Every organization charges to adapt to the needs of the future. The environment inside the business has main influence on employees attitudes & the power to change lies largely in the hands of the management.

23

3.9

RESEARCH METHODOLOGY:The methodology includes the research design of the study, sampling

technique and data collection methods. The current study has followed the descriptive research design, i.e. it is concerned with narration of facts and characteristics considering and individual, group or situation in relation to the employees resources to the attribute.

3.9.1 DESIGN OF THE STUDY:(i) Source of Data Collection The study is based on both primary as well as secondary data. (a) Primary Data:The Primary data has been collected from the employees with the help of well designed and pretested interview schedule. (b) Secondary Data:The study is also based on secondary sources. The secondary data used in this study has been collected from the following sources:
1.

Office records of Bank of India Publication of R.B.I.

2.

24

3.10 Sampling Design:The relation of the sampling technique must be efficiently handled so as to get sample appropriate to the design under study and to keep the effect of extraneous factors to the minimum. In present study executives and staff level members are included and questionnaire distributed to all of them. Every employee has equal probability of being selected. Thus sample became a SIMPLE RANDOM SAMPLE. The present research was conducted on the employees of Bank of India. In my sample of 50 persons are considered, which filled both the questionnaires. Questionnaire 1 regarding general information. Questionnaire 2 regarding satisfaction level.

3.11 Tools of Analysis The data collected have been analyzed and interpreted with the help of following methods:
1.

Mathematical Tools Diagrammatic and Graphic Method

2.

25

CHAPTER-4
DATA ANALYSIS AND INTERPRETATION

26

Table 4.1 Complexity

Attitude Towards Work Complex 60 Complex & Simple 26 Simple 14

No. of Workers

Out of sample of 100 employees 60% employees feels that their work is complex, where as 26% employees has mix feeling i.e. some time they consider their work complex and some time simple, 14% employees feels that their work is simple. Fig 4.1

14%

Complex Complex & Simple 26% 60% Simple

27

Table-4.2 Creativity

Attitude towards work assigned Creative 40 Creative & Routine 50 Routine 10

No. of Workers

Out of sample of 100 employees 40% employees feels that they should be given creative and new work, 50% employees prefer routine as well as creative work and 10% employees they prefer work of routine nature. Fig 4.2

10% 40%

Creative Creative & Routine Routine

50%

28

Table-4.3

Attitude towards Satisfaction level. Satisfaction Satisfaction & unsatisfied Unsatisfied

Satisfaction Level

No. of Workers

30

44

26

Out of sample of 100 employees 30% employees are satisfied with their work, 44% employees are some time satisfied or some time unsatisfied with their work and 26% employees are unsatisfied with their work. Fig 4.3

26%

30% Satisfaction Satisfaction & unsatisfied Unsatisfied 44%

29

Table-4.4 Work Style

Attitude towards work style. Good 53 Good & Bad 36 Bad 11

No. of Workers

Out of sample of 100 employees 48% employees feels that their work is good, whereas 32% employees has mix feelings i.e. some time they consider their work good and some time bad, 20% employees feels that their work is bad. Fig 4.4

11%

Good Good & Bad 36% 53% Bad

30

Table-4.5 Work Style

Attitude towards Work? Fascinating 58 Fascinating & boring 36 Boring 6

No. of Workers

Out of sample of 100 employees 58% employees feels that their work is fascinating, whereas 36% employees has mix feelings i.e. some time they consider their work fascinating and some time boring, 6% employees feels that their work is boring. Fig 4.5

6%

36%

Fascinating Fascinating & boring 58% Boring

31

Table-4.6

ATTITUDE TOWARDS PROMOTION Fair 50 Fair & Unfair 22 Unfair 28

Promotion Policy No. of Workers

Out of sample of 100 employees 50% employees feels that their promotion policy is fair, whereas 22% employees has mix feelings i.e. some time they consider their promotion policy fair and some time unfair, 28% employees feels that their promotion policy is unfair. Fig 4.6

28% Fair Fair & Unfair 50% Unfair

22%

32

Table-4.7 Promotion Criteria Promotion on ability No. of Workers 48 Promotion on ability & arbitrary 20 32 Arbitrary

Out of sample of 100 employees 48% employees feels that their promotion is based on its ability, where as 20% employees has mix feelings, 32% employees feels that their promotion criteria is arbitrary. FIG 4.7

32% 48% Promotion on ability Promotion on ability & arbitrary Arbitrary 20%

33

Table-4.8 Competency

ATTITUDE TOWARDS SUPERVISOR Competent Competent & Incompetent Incompetent

No. of Workers

64

20

16

Out of sample of 100 employees 64% employees feels that their supervisor is competent, where as 20% employees has mix feeling i.e. some time they consider their supervisor competent and some time incompetent, 16% feels that their supervisor is incompetent. FIG- 4.8

16% Competent Competent & Incompetent 20% 64% Incompetent

34

Table-4.9 Intelligence No. of Workers Intelligent 60 Intelligent & stupid 24 Stupid 16

Out of sample of 100 employees 60% employees feels that their supervisor is intelligent, where as 24% employees has mix feelings i.e. some time they consider their supervisor intelligent and sometime stupid, 16% employees feels that their supervisor is stupid. FIG 4.9

16% Intelligent Intelligent & stupid 24% 60% Stupid

35

Table-4.10 Supervision No. of Workers Tactful 32 Tactful & impolite 48 Impolite 20

Out of sample of 100 employees 32% employees feels that their supervisor is tactful, where as 48% employees has mix feelings i.e. some time they consider their supervisor as tactful and some time impolite, 20% employees feels that their supervisor is impolite. FIG 4.10

20% 32% Tactful Tactful & impolite Impolite

48%

36

Table-4.11 Flexibility No. of Workers Flexible 52 Flexible & Stubborn 40 Stubborn 8

Out of sample of 100 employees 52% employees feels that their supervisor is Flexible, whereas 40% employees has mix feeling i.e. some time they consider their supervisor is Flexible and some time Stubborn, 8% employees feels that their supervisor is stubborn. FIG 4.11

8%

Flexible Flexible & Stubborn 40% 52% Stubborn

37

Table-4.12 Supervision No. of Workers Good 58 Good & Bad 22 Bad 20

Out of sample of 100 employees 58% employees feels that their supervisor is good, where as 22% employees has mix feelings i.e. some time they consider their supervisor is good and some time bad, 20% employees feels that their supervisor is Bad. FIG 4.12

20%
Good

22%

58%

Good & Bad Bad

38

Table-4.13 ATTITUDE TOWARDS CO-WORKER Attitude Co-worker No. of Workers Energetic 60 Energetic & Boring 40 Boring 0

Out of sample of 100 employees 60% employees feels that their co-workers are energetic, 40% employees has mix feelings i.e. sometime they consider their coworker is energetic and some time boring. FIG 4.13

0% 40%

Energetic Energetic & Boring 60% Boring

39

Table-4.14 Loyalty No. of Workers Loyal 70 Loyal & Treacherous 12 Treacherous 14

Out of sample of 100 employees 70% employees feels that co-workers is loyal, where as their 12% employees has mix feeling, 14% employees feels that their co-worker is Treacherous. FIG 4.14

15% 13% Loyal Loyal & Treacherous Treacherous 72%

40

Table-4.15 Works speed No. of Workers Fast 76 Fast & Slow 12 Slow 12

Out of sample of 100 employees 76% employees feels that co-workers is Fast, whereas 12% employees has mix feelings i.e. sometime they consider their co-worker is fast and sometime slow, 12% employees feels that their co-worker is slow. FIG 4.15

12% 12% Fast Fast & Slow Slow 76%

41

Table-4.16 Responsibility Responsible Responsible & Irresponsible No. of Workers 60 16 24 Irresponsible

Out of sample of 100 employees 60% employees feels that their co-workers is Responsible, whereas 16% employees has mix feelings i.e. sometime they consider their co-worker is responsible and sometime irresponsible, 24% employees feels that their co-worker is irresponsible. FIG 4.16

24% Responsible Responsible & Irresponsible 16% 60% Irresponsible

42

Table-4.17 Activeness No. of Workers Active 48 Active & Lazy 36 Lazy 16

Out of sample of 100 employees 48% employees feels that co-workers is Active, whereas 36% employees has mix feelings i.e. sometime they consider their co-worker is Active and sometime Lazy, 16% employees feels that their co-worker is Lazy. FIG 4.17

16% 48%

Active Active & Lazy Lazy

36%

43

Table-4.18 Friendliness Friendly Friendly & Hard to meet No. of Workers 60 20 20 Hard to meet

Out of sample of 100 employees 60% employees feels that their co-workers is Friendly, whereas 20% employees has mix feelings i.e. sometime they consider their co-worker is friendly and sometime hard to meet, 20% employees feels that their co-worker is hard to meet. FIG 4.18

20% Friendly Friendly & Hard to meet 20% 60% Hard to meet

44

Table-4.19 Attitude toward Pay Pay Scale No. of Workers Good 70 Good & Bad 12 Bad 18

Out of sample of 100 employees 50% employees feels that their pay is good, whereas as 12% employees has mix feelings i.e. sometime they consider their pay is good and sometime bad, 18% employees feels that their pay is bad. FIG 4.19

18%

12%

Good Good & Bad Bad 70%

45

Table-4.20 Job Security No. of Workers Secure 58 Secure & Insecure 34 Insecure 8

Out of sample of 100 employees 58% employees feels that their job is secure, whereas as 34% employees has mix feelings i.e. sometime they consider their job is secure and sometime insecure, 8% employees feels that their job is insecure. FIG 4.20

8%

Secure Secure & Insecure 34% 58% Insecure

46

The study at Bank of India has been undertaken to find out job satisfaction level of various employees working in the organization. I divided my study into two questionnaires for collecting information.

General Questionnaire:- Which contains general questions regarding their status, job, background etc. i.e. general information? In this study sample of 100 peoples are taken for collecting information. Some percentage are given below about these general things by each and every employee in Bank of India.

(a) Material Status:- In Bank of India the married people are more

satisfied compared as unmarried employees as they have higher qualification and for higher future aspects. Out of the sample of 100 employees 20% employees are unmarried and rest 80% are married.

(b) Dependents:- Larger the no. of department less will be the job

satisfaction. It has a inverse relationship. The employees who have two dependents are more satisfied as compare to employees who have 2-5 dependents. In Bank of India 52% employees have dependents between 2-5 and 22% employees have dependents up to 2.

47

(c) Gross Monthly Salary:- In Bank of India 94% employees have salary

up to 8000 & above and 6% employees have salary between 5000-8000. Employees having higher salary are more satisfied with their jobs as compared to employees having low salary.

(d) Years of Service in this Institution:- Out of the sample of 100

employees takes in Bank of India 86% of employees are working for the period of 5 years & above and 14% employees are working between the period of 2-5 years. Employees who have been working for long period are more satisfied as compared to the employees working between the period of 2-5 years.

(e) Supervision:- It is related to how close the supervision is done by the

supervisor in each departments. 44% of employees said that supervision is high, 51% said that it is moderate and 5% said that it less effective.

(f) Grievance Handling Committee in Dept.:- 65% employees says that

it effective and remaining 30% employees says that the committee is less effective and 5% were directly against it.

(g) Welcome Employees Suggestion by the Supervisor:- Suggestions

which are given by the employees are always welcome by the supervisor.
48

These suggestions which are given by employees if are effective than supervisor takes important decision for improving his organization. In Bank of India 53% employees said that supervisor always welcome their suggestions. Whereas 44% said that their suggestions are sometimes accepted while 3% are directly against it.

(h) Promotion:- Promotion in Bank of India are on seniority basis

followed by the consent of 55% of employees and 45% of employees gave their consent to merit basis.

(i) Training Facilities:-

For increasing the knowledge & skill of

employees the organization provides training for their employees. In Bank of India 70% employees were satisfied by the training facilities provided to them & 30 % employees were against it.

(j) Following Facilities Provided by Bank of India:1) 2) 3) 4) Medical H.R.A. Canteen Transport

Employees who are working in Bank of India is satisfied with these facilities.
49

They gave moderate percentage to these facilities i.e. 31.25% were fully satisfied & 52.12% were moderate satisfied with it. Other were less satisfied with these facilities i.e. 15.62%.

(k) Qualification:- In Bank of India 75% employees are graduate, 10%

employees are senior secondary and 15% employees are Post Graduate.

Questionnaire-2 The second questionnaire is designed to get detail information regarding satisfaction of employees who are working in the Bank of India. The questionnaire consists of different job variables or job facts. In order to measure the job satisfaction level with respect to those variable Bank of India.

List of Variables:1. 2. 3. 4. 5. 6. 7. Name of the Co. Job Security Housing Task Opportunity for Advancement Empowerment Pay According to Merit
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8. 9. 10. 11. 12. 13.

Working Conditions Bonus Supervisors Labour Welfare Service Belongingness Scope for Upgrading Skills

3.

Name of the Company:- It measures the weight age on

employee to its co i.e. bank name. The results so that 93% gave 1 st rank and 7% gave 2nd rank to the name of the bank. i.e. people working here give importance to name of the company where they work.

4.

Job Security:- It means that a security provided by the

organization to his employees and for security of job organization will provide training facilities to his employees for stable in changing environment. This job security variable of questionnaire refer to job security of the employee in Bank of India. 100 % employees gave 3rd rank & 6th rank to job security variables. Job security is an important factor to check the satisfaction level of employees because if job are not secured then no one satisfied with his/her job. It shows people at Bank of India give important to job security to highest level.

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5.

Housing:- For the concern 50% person gives it 2nd 5th rank &

50% give it 10th 13th rank. So we can say that it may not effect on satisfaction level of the employee.

6.

Task:- Task means that types of job in the organizations. If task

of job is complex then that type of job is also complex otherwise not. Complexity of jobs creates problems for achieving organizational goals. Generally organization can create simple job which think fit for his employees and organization can achieve his goals. Task is very important feature for every person, who were working for welfare. People like bank, it provides loan, give credit to its welfare of people so for Bank of India concern, people or employees gives their moderate rank i.e. 4th 10th to above 75%.

7.

Opportunity for Advancement:- Opportunity for advancement

means that their level of growth in the organization with respect to ones capabilities & knowledge. Refers to how much opportunity for advancement is provided in the company sand bank. It is important or most important that what impact is on the employees in the company mostly in Bank of India 50% employees rate it very important and 20% rate it least important and remaining considered it important only with respect to bank their rank given by employees was 6th -12th.
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8.

Empowerment:- In Bank of India empowerment is very low

because employees give it lower ranking i.e. 8th 14th. Empowerment is the degree of freedom and power they have in their work. The bank does not seem to provide such freedom and power in the job assigned to the employees.

9.

Pay According to Merit:- Pay is remuneration given to

employees for job done. It is monetary in nature. If pay of the employees are good and according to their merit and job then employees are satisfied with their jobs. In Bank of India employees give 4th 9th Rank. Which shows they are not very satisfied with the pay structure due to this dissatisfaction level would be high. Pay variable for checking the satisfaction level of each concern, play an important role in an organization. If pay according to the merit for each employee who are working in an organization then the satisfaction level of each employees goes up but if pay according to other things like political pressure, by approach etc. then the satisfaction level of each individual goes down, due to this every working employee is not satisfied with his job.

10.

Working Conditions:- If working conditions good the

employees of the organization also enjoy doing their work. The working
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conditions include the social as well as the physical condition of job. The working condition can change the mind of an individual increase his morale. If working conditions are good then employees can work more effectively, due to this organization runs smoothly. In Bank of India employees 50% give 5th 8th rank other gave it 10th -12th rank. If seems the working conditions are quite favourable of working.

11.

Bonus:- Bonus is one of the motivators which is financial in

nature. It helps in boosting due morale of the employees. Bonus is of many types like increment, promotion. Higher the bonus more will be the satisfaction. If bones is given to the employees when work is very effective, then satisfaction level of each individual increases. In Bank of India employees given 4th 7th rank to it. Hence bonus does seem to be an important feature in Bank of India.

12.

Supervision:- Supervision accounts for keeping a check and

providing guidance to the subordinates as and when required, so people that is who has internal locus prefer strict supervision while other prefer loose or no supervision at all these are those who have internal locus of control. Supervision is an important variable otherwise as it keeps the organization right on track supervision is most important in every concern

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if its aim is to earn profits, if supervision is good effective when each and every employees work in effective manners.

13.

Labour Welfare Service:- Providing of facilities and cash and

information to the employees in kind. In Bank of India labour welfare services are also provided for the welfare of its employees are labour. The employees have given 10th rank to it which means that employees of Bank of India are less satisfied with this variable.

14.

Belongingness:- This has been rated lowest in Bank of India

because each and every individual give to very lower rank i.e. 11th -13th. So we can say that the variable of belongingness in Bank of India is not effective.

15.

Scope for Upgrading Skills and Knowledge:- For changing

environment organization cannot survive the completion market, due to this organization can provide training facilities to their employees for upgrading their skills and knowledge. If knowledge and skills of each individuals are effective or due to changing environment then they can easily survive in changing situations. So for upgrading of each individual is very important for organization concern. In Bank of India employees gives 12th -13th rank to it.
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Regarding Bank of India The main five variables to find out the level of job satisfaction under management are:1.

Pay:- Pay is a wider sense means any economic compensation

paid by the employer under some contract to his employees for the service rendered by him. Pay includes family allowance, relief pay, financial support, and other benefits. Salary payment must fulfill a wide variety of human needs, including the need for self actualization. Due to gaining of profit increment and other financial help given by the organization to his employees increases, then we can say that fair pay can increase the efficiency of each individual.

2.

Work:- The findings of Morses study suggest that rotating jobs

and jobs giving the scope for Varity and change gave many employees more satisfaction than routine and mechanical jobs. It means that what type of work that is complex or simple is face by the Bank of India employees. For this concern each employees gave simple to more points so we can say that Bank of India workers handle with simple work.

3.

Supervisor:- The behaviour of once boss is also a major

determinant of satisfaction. Studies generally find that employees

satisfaction is increased when the immediate supervisor understands and friendly, offers praise for good performance, listens to employees opinions and shows a personal interest in them.

4.

Co-Workers:- People get more out of work than merely money

or tangible achievements. For most employee, work also fells that need for social interaction. Not surprisingly ; therefore having friendly and supportive co-workers leads to increased job satisfaction.

5.

Promotion:- According to Scott & Clothier A promotion is the

transfer of an employee to job which pays more money or one that carries some prepared status. A promotion may be defined as an upward advancement of an employee in an organization to another job, which commands better pay, better status and higher opportunities and challenges, better working environment, hours of work and facilities.

Purpose of Promotion: To reduce discontent and unrest. To conserve proved skill, training and ability. To furnish an effective incentive for initiative. To attract suitable and competent employees.

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To suggest logical training for advancement.

CHAPTER-5
CONCLUSION AND RECOMMENDATION

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5.1 CONCLUSION:Conclusion on the basis of various techniques used for analyzing and interpreting the financial position of Bank of India. It can be concluded that the over all financial position of the bank is satisfactory. Though the expenses of the Bank have increased tremendously over the period but income of the bank has also increased to a great extent. Such increased income has enabled the bank to earn substantial amount of profits over the years. The bank has succeeded in increasing its share capital also which has become almost double in the last 5 years. Individuals are the major shareholders. The major achievement of the bank has been a tremendous increase in its deposits, which has always been its main objective. The savings deposit which has increased from Rs. 11139 lakhs in 2002-03 to Rs. 33319.8 lakhs in 2008-09. Fixed and current deposits have also shown an increasing trend. Equity share holders are also enjoying an increasing trend in the return on their capital through current assets and liabilities (current liquidity) of the bank is not so satisfactory but bank has succeeded in maintaining a stable solvency position over the years. As far as ration of internal and external equity is concerned, it is clear that bank is using more amount of external equity in the form of loans and borrowings than owners equity. Banks investments are also showing an increasing trend. Due to increase in deposits, the interest received by the bank from such deposits is proving to be the major source of income

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It is not easy to satisfied each and every employees with in the organization but some steps should always be taken for the betterment of employees environment. In Bank of India working conditions to ward workers is good. In Bank of India worker attitude towards co workers is also good. In order to avoid work fatigue worker should be rotated from one job to other in the same level. Training programme being run by Bank of India is also effective and workers appreciate these programmes. In Bank of India most of the workers surveyed during the study are not satisfy with the promotions policy of the bank they fees that it is on the seniority basis the Bank should consider this grievances of workers and it should be rectify with proper and efficient promotion policy. In Bank of India the communication channel among different level of management is efficient. The bank is following formal as well as informal communication channel.

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5.2 SUGGESTIONS:On the basis of entire analysis, the following things are suggested:-

Through the bank has been successful in increasing its deposits, but to further improve upon such situation it can introduce some new and attractive schemes for public. Such schemes can be in the form of higher rate of interest and shorter maturity period for FDs etc.

Bank can also think for improving its day-to-day service to its clients. Such service can be improved by providing prompt service and showing an attitude of co-operation to its clients. It will help to give a kind of confidence to the public and build a better public image.

Bank should try to finance more and more projects. Financing will help it to earn higher amount of profits.

A separate test for recruiting and selecting qualified employees can be another good suggestion for the bank, well planned entrance test will help to ensure that the bank has right kind of people working on right place at right time.

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 Another suggestion can be in regard to improving inter-personal relationship between the employees of the bank Better relation will help to make the functioning of the bank more effective and efficient.

To achieve the objective of Rural Dev, it should open more and more branches in different rural areas of the country. It will help to provide help to rural poor farmers and other living below the poverty line. Bank can appoint commission agents for different area who can encourage general public to invest in the capital of the bank and make more deposits in Bank of India.

Gifts to employees on special occasions can be another good way to increase the morale of its employees.

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5.3 RECOMMENDATION:If an employee is not satisfied with his work then both quantity & quality of the output will suffer. This can be improved only by increasing the level of job satisfaction. After the through & careful analysis of the results obtained in the present study. I would like to put forward the following suggestions.

1. As is evident from the ranking of various job factors, provisions must be inculcated into the system to allow scope of education and self development of employees.

2. Recognition for performance in form of better reward or compensation for the junior staff should be considered.

3. By entrusting the employees with a higher degree of personal responsibilities, one caters to the nee of achievement.

4. Promotion policies of the organization must be improved.

5. Sense of belongingness should be increased by creating such environment that commits them to work together as a team.

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6. Providing better working conditions, training facilities as well as good supervision by the supervisor.

7. Job satisfaction level can be increased by giving good hearing to the ideas and suggestions given by the staff employees while making decisions. 8. Steps should be taken to ensure that all employees have access to safety equipments at their work place and to ensure his security.

9. Low levels employees are not very much satisfied with the problem solving way of the organization so it is desirable that the complaints of the employees should be heard patiently.

10.The jobs should be assigned according to ones qualification and competence.

It is not easy to satisfy each & every employee with in the department but some steps should always be taken for the betterment of the employment environment. Their should be timely increase in the salary and inventive. All motivations at efforts should be made for the employees job satisfaction. Proper human resource management steps should be followed in order to earn good fruits.
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