Axis Bank Debit And Credit Card Sonam 51w1i

Sr.No

Contents

1.

Introduction of Bank

2.

Introduction of Axis Bank

3.

Review of Literature

4.

Methodology

5.

Debit and Credit Card Facility of Axis

6.

Bank Swot Analysis

7.

Finding and Conclusion

8.

Biblography INDEX

Pg.No

CHAPTER NO-1 Introduction of Bank Modern commercial banking, in its present form, is of recent origin. Though bank is considered to be an ancient institution just like money. It’s evolution can be traced in the functions of money lender, the goldsmiths and the merchants. A bank has been often described as an institution engaged in accepting of deposits and granting loans. It can also be described as an institution which borrows idle resources, makes funds available to. It does not refer only to a place of tending and depositing money, but looks after the financial problems of its consumers. This era is the age of specialization with the changing situation in the world economy, banking functions have broadened. Financial institutions which are shaped by the general economic structures of the country concerned vary from one country to another. Hence, a rigid classification of banks is bound to the unrealistic. Origin and Development of Banking There seem so be no uniformity amongst the economist about the origin of the word ‘Bank’. It has been believed that the word ‘Bank’ has been derived from the German word ‘Bank’ which means t stock of firm or from the Italian word ‘Banco’ which means a heap or mound. In India the ancient Hindu scriptures refers to the money - lending activities in vedic period. They performed most of those functions which banks perform in modern times. During Ramayana and Mahabharata eras also banking had become a fullfledged business activity. In other words the development of commercial banking in ancient times was closely associated with the business of money changing. In simple words, bank refers to an institution that deals in money. This institution accepts deposits from the people and gives loans to those who are in need. Besides dealing in money, bank these days perform various other

functions, such as credit creation, agency job and general service. Bank, therefore is such an institution which accepts deposits from the people, gives loans, creates credit and undertakes agency work.

DEFINITIONS OF BANKING  A bank is a finanacial institution licensed by a government. It’s primary activity is to lend money. Many other financial activities were allowed over time. For example banks are important players in financial markets and offer financial services such as investment funds.  Banking can also be defined as engaging in the business of keeping money for savings and checking s or for exchange or for issuing loans and credit.  Transacting business with a bank; depositing or withdrawing funds or requesting a loan.  Bank a supply or stock held in reserve for future use

MEANING OF BANKING

An organization, usually a corporation, charted by a state or federal government, which does most or all of the following receives demand deposits and time deposits, honors instruments drawn on them, and pays intertest on them; discounts notes, makes loans and invests in securities; collects checks, drafts’ and notes; certifies depositor’s checks; and issue drafts and cashier’s checks.

The History of Banking Sector in India

Bank is a financial institution that performs several functions like accepting deposits, lending loans, agriculture and rural development etc. Bank plays an important role in the economic development of the country.It is necessary to encourage people to deposit their surplus funds with the banks. These funds are used -for providing loans to the industries thereby making productive investments.A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities. They are the active players in financial market. The essential role of a bank is to connect those who have capital with those who seek capital. After the post economic liberalization and globalization, there has been a significant impact on the banking industry.Banking in India originated in the 18th century. The oldest bank in existence in India is the State Bank of India, a government-owned bank in 1806. SBI is the largest commercial bank in the country.After the independence, Reserve Bank of India was nationalized and given wide powers. Currently, India has 96 Scheduled Commercial Banks, 27 public sector banks, 31 private banks and 38 foreign banks.Today, banks have diversified their activities and are getting into new products and services that include opportunities in credit cards, consumer finance, wealth management, life and general insurance, investment banking, mutual funds, pension fund regulation, stock broking services, etc.Further, most of the leading Indian banks are going global, setting up offices in foreign countries, by themselves or through their subsidiaries.

Structure of Indian Banking Sector in India

1. Reserve Bank of India: Reserve Bank of India is the Central Bank of our country. It was established on 1st April 1935 under the RBI Act of 1934. It holds the apex position in the banking structure. RBI performs various developmental and promotional functions. It has given wide powers to supervise and control the banking structure. It occupies the pivotal position in the monetary and banking structure of the country. In many countries central bank is known by different names.For example, Federal Reserve Bank of U.S.A, Bank of England in U.K. and Reserve Bank of India in India. Central bank is known as a banker’s bank. They have the authority to formulate and implement monetary and credit policies. It is owned by the government of a country and has the monopoly power of issuing notes.

2. Commercial Banks: Commercial bank is an institution that accepts deposit, makes business loans and offer related services to various like accepting deposits and lending loans and advances to general customers and business man.These institutions run to make profit. They cater to the financial requirements of industries and various sectors like agriculture, rural development, etc. it is a profit making institution owned by government or private of both. Commercial bank includes public sector, private sector, foreign banks and regional rural banks: a.Public sector banks: It includes SBI, seven (7) associate banks and nineteen (19) nationalised banks. Altogether there are 27 public sector banks. The public sector s for 90 percent of total banking business in India and State Bank of India is the largest commercial bank in of volume of all commercial banks.

b. Private sector banks: Private sector banks are those whose equity is held by private shareholders. For example, ICICI, HDFC etc. Private sector bank plays a major role in the development of Indian banking industry.

C. Foreign Banks Foreign banks are those banks, which have their head offices abroad. CITI bank, HSBC, Standard Chartered etc. are the examples of foreign bank in

d. Regional Rural Bank (RRB): These are state sponsored regional rural oriented banks. They provide credit for agricultural and rural development. The main objective of RRB is to develop rural economy. Their borrowers include small and marginal farmers, agricultural labourers, artisans etc. NABARD holds the apex position in the agricultural and rural development.

3. Co-operative Bank: Co-operative bank was set up by ing a co-operative act in 1904. They are organised and managed on the principal of co-operation and mutual help. The main objective of co-operative bank is to provide rural credit. The cooperative banks in India play an important role even today in rural cooperative financing. The enactment of Co-operative Credit Societies Act, 1904, however, gave the real impetus to the movement. The Cooperative Credit Societies Act, 1904 was amended in 1912, with a view to broad basing it to enable organisation of non-credit societies. Three tier structures exist in the cooperative banking: i. State cooperative bank at the apex level. ii. Central cooperative banks at the district level. iii. Primary cooperative banks and the base or local level.

4. Scheduled and Non-Scheduled banks: A bank is said to be a scheduled bank when it has a paid up capital and reserves as per the prescription of RBI and included in the second schedule of RBI Act 1934. Non-scheduled bank are those commercial banks, which are not included in the second schedule of RBI Act 1934. 5. Development banks and other financial institutions: A development bank is a financial institution, which provides a long term funds to the industries for development purpose. This organisation includes banks like IDBI, ICICI, IFCI etc. State level institutions like SFC’s SIDC’s etc. It also includes investment institutions like UTI, LIC, and GIC etc.

Types of Banking: Banks can be classified into different groups either on the basis of their structure or on the basis of their function. Structurally banking can be divided into Branch banking and Unit Banking. Functionally, banking can be divided into Deposit Banking, Investment Banking and Mixed Banking.

Branch Banking: This refers to a system under which two or more banks are opened under a single ownership. Examples are State Bank of India, Punjab National Bank, Indian Bank etc. which have several branches spread all-over India.

Unit Banking: This refers to that system of banking in which banking operations are carried on through a single organisation, without any branches. This system used to be popular in America. One great advantage of branch banking is that the same bank can cater to several parts of a large country (through its branches situated in those parts) which a unit bank would find difficult to do. As against this, a unit bank has the advantage that its efforts are concentrated in one area so that it can serve that area well.

Group Banking: This is a system under which two or more banks, separately incorporated, are connected by being controlled by a single holding company as trust.

Chain Banking: This is similar to Group Banking. Here two or more banks are controlled by a single group through the ownership of shares or otherwise.

Deposit Banking: In this category, the banks act as custodian or trustees of the depositors.

Investment Banking:

This refers to banks whose main function is to provide finance for investment to industrial concerns. They provide this by purchasing shares and debentures of newly floated companies. Mixed Banking: Most banks in India play both roles. Deposit Banking and Investment Banking. Such type of banking is called mixed banking.

Functions of Commercial Banks:

The major functions of Commercial Banks are as follows:

1. Acceptance of Deposits: The main function of commercial banks is to accept deposits from the public. Banks maintains demand deposits s for their customers and converts deposit money into cash and vice versa, at the direction of the latter. Demand deposits are technically accepted in current s, which are with draw able any time by the depositor by means of cheques. Deposits are made in fixed deposit s which are with draw able only after a specific period. Thus, fixed deposits are time liabilities of the banks. Deposits are also received in saving bank s subject to certain restrictions on the amount receivable and with draw able. This is how banks pool the scattered savings of the community and serve as the reserves of its savings.

2. Giving Loans and Advances: Another function of commercial banks is to extend loans and advances out of the money which comes to them by way of deposits to businessmen and entrepreneurs against approved securities such as gold or silver bullion, government securities, easily saleable stocks and shares and marketable goods.

Bank advances to customers may be made in the following ways: (i) Overdrafts, (ii) discounting bills

(iii) money-at-call and short notice, (iv) loans and advances (v) various forms of direct loans to traders and producers.

3. Using Cheque System: Banks also render important services by providing an expensive medium of exchange, such as cheques. In modern business transactions, the use of cheques to settle debts is found to be much more convenient than the use of cash. In fact, the cheque is also known as the most developed credit instrument. such as cheques. In modern business transactions, the use of cheques to settle debts is found to be much more convenient than the use of cash. In fact, the cheque is also known as the most developed credit instrument.

4. Other Functions: Commercial banks also perform a multitude of other non-banking functions which may be classified as (a) agency services and (b) general utility services.

(a) Agency services: The bankers perform certain functions for and on behalf of their customers, such as: (i) To act as executor, trustee and attorney for the customer’s will. (ii) To collect or make payments for bills, cheques, promissory notes, interest, dividends, rents, subscriptions, insurance , etc. For these services, some charges are usually levied by the banks.

(iii) To remit funds on behalf of the clients by drafts or mail or telegraphic transfers. (iv) To arrange income-tax experts to prepare income tax returns for their customers, and help them to get refund of income tax in appropriate cases. (v) To work as correspondents, agents or representatives of their clients.

(b) General Utility Services: The modem Commercial banks usually perform certain general utility services for society, such as:

(i)

Bank drafts and traveler’s cheques are issued in order to provide facilities

(ii)

for transfer of funds from one part of the country to another. (ii) Letter of credit may be given by the banks to their customers to enable then to go abroad.

(iii) Dealing with foreign exchange or finance foreign trade by accepting or collecting foreign bills of exchange. (iv) Shares floated by Government, Public bodies and corporations may be underwritten by banks. (v) Banks arrange the safe deposit vaults, to the customers, for their valuables. (vi) Banks also compile statistics and business information relating to trade, commerce and industry. Some banks may publish valuable journals or bulletins containing research on financial economic and commercial matters.

Chapter No - 2 Introduction of Axis Bank Commercial banking services which includes merchant banking, direct finance infrastructure finance, venture capital fund, advisory,trusteeship, forex, treasury and other related financial services. As on31-Mar-2009, the Group has 827 branches, extension counters and 3,595 automated teller machines (ATMs).Axis Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted tly by the of the specified undertaking of the Unit Trust of India(UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The Bank today is capitalized to the extent of Rs. 359.76crores

with

the

public

holding

(other

than

promoters)

at

57.79%.TheBank's ed Office is at Ahmedabad and its Central Office is located at Mumbai. The Bank has a very wide network of more than 853 branches and Extension Counters (as on 30th June 2009). The Bank has a network of over 3723 ATMs (as on 30th June 2009) providing 24 hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.

History of Axis Bank

Axis Bank established in 1993 was the first of the new private banks to have begun operations in 1994 after the Government of India allowed new private banks to be established.Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC – Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each. Axis Bank is one of the first new generation private sector banks to have begun operations in 1994. The Bank was promoted in 1993, tly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India),Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The shareholding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003.Erstwhile Unit Trust of India was set up as a body corporate under the UTI Act, 1963, with a view to encourage savings and investment. In December 2002, the UTI Act, 1963 was repealed with the age of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 by the Parliament, paving the way for the bifurcation of UTI into 2 entities, UTI–I and UTI–II with effect from 1st February 2003. In accordance with the Act, the Undertaking specified as UTI I has been transferred and vested in the of the Specified Undertaking of the Unit Trust of India (SUUTI), who manages assured return schemes along with 6.75% US–64 Bonds, 6.60% ARS Bonds with a Unit

Capital of over Rs. 14167.59 crores. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence. Axis Bank entered a deal in November 2010 to buy the investment banking and equities units of Enam Securities for $456 million. Axis Securities, the equities arm of Axis Bank, will merge with the investment banking business of Enam Securities.As per the deal, Enam will demerge its investment banking, institutional equities, retail equities and distribution of financial products, and non–banking finance businesses and merge them with Axis Securities.

COMPANY PROFILE: AXIS BANK Axis Bank India, the first bank to begin operations as new private banks in 1994

after the Government of India allowed new private banks to be

established. Axis Bank was tly promoted by the of the specified undertaking of the  Unit Trust of India (UTI-I)  Life Insurance Corporation of India (LIC)  General Insurance Corporation Ltd. Also with associates viz. National Insurance Company Ltd., The New India Assurance Company, The Oriental Insurance Corporation and United Insurance Company Ltd. Axis Bank in India today is capitalised with Rs. 232.86 Crores with 47.50% public holding other than promoters. It has more than 200 branch offices and Extension Counters in the country with over 1250 Axis Bank ATM proving to be one of the largest ATM networks in the country. Axis Bank India commits to adopt the best industry practices internationally to achieve excellence. Axis Bank has strengths in retail as well as corporate banking. By the end of December 2004, Axis Bank in India had over 2.7 million debit cards. This is the first bank in India to offer the AT PAR Cheque facility, without any charges, to all its Savings Bank customers in all the places across the country

where it has presence. With the AT PAR cheque facility, customers can make cheque payments to any beneficiary at any of its existence place. The ceiling per instrument is Rs. 50,000/-.The latest offerings of the bank along with Dollar variant is the Euro and Pound Sterling variants of the International Travel Currency Card. The Travel Currency Card is a signature based pre-paid travel card which enables traveller's global access to their money in local currency of the visiting country in a safe and convenient way. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.

EVALUATION OF AXIS BANK UTI was established in 1964 by an Act of Parliament; neither did the Government of India own it nor contributes any capital. The RBI was asked to contribute one-half of its initial capital of Rs 5 crore, and given the mandate of running the UTI in the interest of the unit-holders. The State Bank of India and the Life Insurance Corporation contributed 15 per cent of the capital each, and the rest was contributed by scheduled commercial banks which were not nationalized then. This kind of structure for a unit trust is not found anywhere else in the world. Again, unlike other unit trusts and mutual funds, the UTI was not created to earn profits. In the course of nearly four decades of its existence, it (the UTI) has succeeded phenomenally in achieving its objective and has the largest share anywhere in the world of the domestic mutual fund industry.'' The emergence of a "foreign expert" during the setting up of the UTI makes an interesting story. The announcement by the then Finance Minister that the Government of India was contemplating the establishment of a unit trust caught the eye of Mr. George Woods, the then President of the World Bank. Mr. Woods took a great deal of interest in the Indian financial system, as he was one of the principal architects of the ICICI, in which his bank, First Boston Corporation Bank, had a sizeable shareholding. Mr. Woods offered, through Mr. B.K. Nehru, who was India's Executive Director on the World Bank, the services of an expert. The Centre jumped at the offer, and asked the RBI to hold up the finalization of the unit trust proposals till the expert visited India. The only point Mr. Sullivan made was that the provision to limit the ownership of units to individuals might result in unnecessarily restricting the market for units. While making this point, he had in mind the practice in the US, where small pension funds are an important class of customers for the unit trusts. The Centre accepted the foreign expert's suggestion, and the necessary amendments were made in the draft Bill. Thus, began corporate investment in the UTI, which

received a boost from the tax concession given by the government in the 199091 Budget. According to this concession, the dividends received by a company from investments in other companies, including the UTI, were completely exempt from corporate income tax, and provided the dividends declared by the investing company were higher than the dividends received. 9 The result was a phenomenal increase in corporate investment which ed for 57 per cent of the total capital under US-64 scheme. Because of high liquidity the corporate sector used the UTI to park its liquid funds. This added to the volatility of the UTI funds. The corporate lobby which perhaps subtly opposed the establishment of the UTI in the public sector made use of it for its own benefits later. The Government-RBI power game started with the finalization of the UTI charter itself. The RBI draft of the UTI charter stipulated that the Chairman will be nominated by it, and one more nominee would be on the Board of Trustees. While finalizing the draft Bill, the Centre changed this stipulation. The Chairman was to be nominated by the Government, albeit in consultation with RBI. Although the appointment was to be made in consultation with the Reserve Bank, the Government could appoint a person of its choice as Chairman even if the Bank did not approve of him.

DETAILED DESCRIPTION OF PRODUCTS AND SERVICES: PERSONAL S:  PRIME SAVINGS Axis Bank, we have always strived to pace our products with the growing needs of our customers. The Prime Savings has therefore been created with your specific financial requirements in mind.  Wider Accessibility: 500 branches and one of the largest ATM networks in India.

 Greater Convenience: International Debit Card with withdrawal limit of Rs 40,000 per day facilitating transfer of funds, deposits of cash/cheques and payment of insurance (LIC).  More Comfort: 24 hr Internet Banking and Tele Banking services  Enhanced Privileges: provide you a book and monthly statement of to keep you updated on all your transactions  Added Speed: 'At Par' cheque facility, you have the unique advantage to encash your cheques as a local cheque at more than 330 centers where the bank has a presence at no extra cost Other s in this category:     

SALARY POWER SMART PRIVILEGE SENIOR PRIVILEGE PENSION SAVINGS 33 DEPOSITS Fixed Deposits

Axis Bank offers a simple reinvestment Fixed Deposits (at very competitive interest rates), which can be opened with a minimum investment of Rs 10,000.  Reinvestment Deposits: In a reinvestment deposit, the interest accrued to your deposit at the end of each quarter is invested along with the principal. The tenure of your deposit must be a minimum of 6 months.  Automatic Rollover: As a Fixed Deposit holder, you can avail of the facility for automatic rollovers on maturity (for both the principal and interest). You can select this option in the Opening Document (AOD). The options available are:

 RECURRING DEPOSITS  Power of compounding Axis Bank's Recurring Deposit scheme will allow you with an opportunity to build up Your savings through regular monthly deposits of fixed sum over a fixed period of time. Features:  Recurring deposits are accepted in equal monthly installments of minimum Rs 1,000 and  Above in multiples of Rs 500 thereafter. The fixed number of installments for which a

 Depositor can opt are 12, 24, 36, 39, 48, 60, 63, 72, 84, 96, 108 and 120 months. Transfer of s - a recurring deposit can be transferred from one office of the Bank to another branch.  Encash 24 34 The ENCASH 24 (Flexi Deposits) gives you the liquidity of a Savings coupled with high earnings of a Fixed Deposit. This is achieved by creating a Fixed Deposit linked to your Savings providing you the following unique facilities.

LOANS POWER HOUSE: Axis Bank's Power Home puts an end to your Real Estate troubles. Features: • Attractive interest rates • Balance Transfer facility • Doorstep service • Option to choose from floating rate or fixed rate Free Property & Personal accident insurance.

PERSONAL POWER: Features: • Loans for salaried and self employed individuals • Special loans for doctors, chartered ants, engineers, architects, CS and ICWA . • Loans are available from Rs 50,000 to Rs 20 lacs • Repayment tenures from 12 to 60 months • Attractive interest rates Free personal accident insurance cover with personal loan

• Loans can be used for any purpose with no questions asked regarding the end use of the loan A balance transfer facility available for those who want to retire any higher cost debt Loans available against repayment track record of any existing auto, personal or home loan Loans available against proof of life insurance policy or receipts • Zero balance SB facility for personal loan customer’s Simple procedure, minimal documentation and quick approval. ASSET POWER (Loan Against Property) A take-over of your existing loan with refinancing is also possible with Asset Power.

Features        

Attractive interest rates 35 Balance Transfer facility available with additional finance Doorstep service Four products under Asset Power Loan against property – Residential Loan against property - Commercial Loan for purchase of commercial property Take-over of existing loan with additional refinance (Balance Transfer) Lease Rental Discounting (LRD)

CORPORATE BANKING  Working Capital Finance . These products are designed to ease the liquidity position of the client and come with a number of other facilities such as Internet Banking, Phone Banking etc.

 Trade Services Axis Bank has emerged as one of the leading banks in providing trade finance services, providing a gamut of products for both exports and imports, with dedicated Front-Desk and Specialists, speedy processing of documents and provide comprehensive and timely MIS.

 Structured Finance

Axis Bank provides tailor made solutions to meet our clients' requirements, while mitigating the credit and price risk at the same time.

 Supply Chain Management Axis Bank provides integrated commercial and financial solutions to the supply and distribution channels of a corporate. The products are designed to add value to supply and distribution channels by providing unique solutions to meet their working capital requirements.

CAPITAL MARKETS Debt Solutions Axis Bank is a leading provider of debt solutions in the form of bond or debenture issuances and loan syndication. The Bank has successfully managed various debt issuances of mid and large size which includes plain vanilla loans or bonds, and structured term loans to meet the specific requirements of the clients and the projects. The Bank is the largest bond house in the country and has been ranked first in respect of various domestic and international league tables in respect of domestic debt issuances.

Equity Solutions We are SEBI ed Category I Merchant Banker. The Bank's Capital Markets Department has developed significant expertise in the area of public or rights issue management, private placement of equity, overseas fund raising through FCCB and GDR and debt syndication. The Bank has acted as Lead Book Running Managers, co-arrangers and advisors to a number of equity issuances or offers.

Trusteeship Services

Axis Bank Ltd. is a SEBI ed Debenture Trustee in the business of Debenture Trusteeship, Security Trusteeship, Monitoring Agency and Facility Agency and predominantly acts as Trustee to privately placed debt issuances, domestic borrowings and external commercial borrowings. At present the aggregate value of the Trusteeship portfolio is approximately Rs 1, 00,000 crores. The Trusteeship Group presently services over 150 clients including leading public and private sector corporate as well as Banks and Financial Institutions including international funding agencies in respect of various debt instruments issued within the country and also for various secured Foreign Currency Convertible Bonds and External Commercial Borrowings

EDepository Services With the introduction of settlement on T+2 basis, instruction for delivery of securities to broker's is required immediately after sale of securities. Hence time available for submission of delivery instructions is limited. Axis Bank now permits submission of delivery instructions in electronic form using Internet based service called Speed-e. Physical delivery instructions need not be submitted in case you are submitting the instructions on Speed-e.

BOARD OF DIRECTORS OF AXIS BANK The Bank has 11 on the Board. Dr. P. J. Nayak is the Chairman and Managing Director of the Bank. The of the Board are:

NAME

DESIGNATION

Chairman & M

Dr. P.J. Nayak Shri Surendra Singh Shri N.C. Singhal Shri A.T. Pannir Selvam Shri J.R. Varma Dr. R.H. Patil Smt. Rama Bijapurkar Shri R.B.L. Vaish Shri S.B. Mathur Shri M.V. Subbiah Shri Ramesh Ramanathan

MISSION AND VALUES: OUR VALUES:

Director Director Director Director Director Director Director Director Director Director

 Customer Service and Product Innovation tuned to diverse needs of individual and corporate clientele.  Continuous technology upgradation while maintaining human values.  Progressive globalization and achieving international standards.  Efficiency and effectiveness built on ethical practices.

CORE VALUES:  Customer Satisfaction through  Providing quality service effectively and efficiently  "Smile, it enhances your face value" is a service quality stressed on  Periodic Customer Service Audits  Maximization of Stakeholder value  Success through Teamwork, Integrity and People.

Features of Axis Bank  Anywhere Banking

 Instant Fund Transfer  Internet Banking  At-Par (Multicity) Chequebook  ATM cum Debit Card  Mobile Banking  Phone Banking

Functions of Axis Bank 1.

Savings s

2. Checking s 3. Fixed Deposits 4. Home Loans 5. Personal and Auto loans 6. Credit Cards 7. etc CHAPTER NO-3 Review of Literature

Many empirical studies have been conducted on the subject of ‘Plastic Money’ in India and abroad. The major emphasis of research has been on various issues like frauds, security, usage pattern, new method of epayment, etc. The previous work done on plastic money needs perusal. It has been reviewed to indicate in a general way the type of work done on this subject in India. It is expected that the critical examination of the studies would give focus to our problem and help to indicate the areas which have remained neglected at the hands of the researchers. From the review of literature, it was found that hardly there was a study which examined the perception of both s and traders on the usage of plastic money. Also, many studies concentrated on individual cards, for instance, credit or debit card and neglected the t effect and new innovative cards like smart card, charge card and check card. In this study, an attempt is made to include all types of cards in the analysis. Handelsman and Munson (1989), “Switching behaviours from credit card to cash payment among ethnically diverse retail customers” shows that the credit card sales constitute an important revenue source for many retailers. Their ever increasing use and evaluation into other forms, such as debit and electron cards, demands that retailers gain a more complete understanding of how they are used by diverse consumer segments. Particularly needed is a better understating of the propensity to switch over from credit card to cash payment and the incentive required to initiate switching. credit card sales to cash sales. Four aspects of credit card usage and switching

ethnicities are investigated, propensity to switch over from credit card to cash payment at various levels of monetary incentive, the effect of product price on propensity to switch, the frequency of credit card usage, and the preferred method of payment of credit card balances (installment versus full payment). Several significant differences are shown among the three ethnic groups studied (Anglo-American, Chinese-American and his panic-American) in these usage behaviours such differences might even be Barker (1992) in his study, Globalization of credit card usage: The case of a developing economy” investigate the attitude of Turkish consumers towards credit cards, and the approach of card issuers by surveying two samples of 200 card holders and non-holders. The better educated, middle aged of the upper middle class seem to be the prime target; the most important reasons for using a credit card were “case of payment”, followed by “risk of carrying cash”, Non holders do not carry credit cards because they do not know much about it; informal sources of information appear to be more influential than mass media advertising in penetrating the market; proposes that the usage and the istration of credit cards are influenced very much by the infrastructure of the country and hence, credit card companies have to modify their marketing and istrative procedures rather than following a standardized approach. Natarajan and Manohar (1993) “Credit Cards–an Analysis”. A study has been attempted to know that to what extent the credit cards are

utilized by the cardholders and the factors influencing the utilization of credit cards. The study is confined to cards issued by the Canara Bank. A random sampling technique is used to collect the data. Ten components i.e. numbers of purchases, shops, percentage of purchases, place, frequency, type of product, type of services, cash withdrawal facilities, add on facility, insurance schemes are identified and used for the measurement. Chi square test has been conducted to know the level of utilization. For this, both personal and nonpersonal factors also have been taken into consideration. Natarajan and Manohar (1993) “Credit Cards–an Analysis”. A study has been attempted to know that to what extent the credit cards are utilized by the cardholders and the factors influencing the utilization of credit cards. The study is confined to cards issued by the Canara Bank. A random sampling technique is used to collect the data. Ten components i.e. numbers of purchases, shops, percentage of purchases, place, frequency, type of product, type of services, cash withdrawal facilities, add on facility, insurance schemes are identified and used for the measurement. Chi square test has been conducted to know the level of utilization. For this, both personal and nonpersonal factors also have been taken into consideration. Simon and Victor (1994), “Customers’ Risk Perceptions of Electronic Payment Systems” finds that one reason for the slow adoption rate of electronic fund transfer at point-of-sale (EFTPoS) is that consumers perceive that

EFTPoS has a higher level of risk than other traditional payment methods. Study shows that EFTPoS has the lowest physical risk and highest financial risk, the credit card has the lowest psychological risk and highest time loss risk, while cash has the highest physical risk and lowest performance risk. Physical risk, financial risk and time loss risk for cash payment are significantly higher when purchase is large while performance risk for EFTPoS and credit card payment is significantly higher when the purchase is small. George (1995), “The card majors lead the way” shows that VISA and Master Card play a major role in any international payment system. Both VISA and Master Card act also as franchisers, lending their names to member banks’ card and acting as guarantor of payment to merchants willing to accept the cards. For this and for handling transactions, VISA and Master card charge a fee which varies from country to country, but is approximately 3 cents (90 paisa) per transaction. They are card clearing agencies. Torbet and Marshall (1995), “One in the eye to plastic card fraud.” Paper explores the potential use of behavioral and physiological biometric techniques in the battle against credit card fraud in the retail environment. It discusses different techniques such as automatic speaker, dynamic signature verification, fingerprint, facial recognition, retinal and iris scanning, hand and finger geometry. Joshi (1996), “Variants in plastic.” Author analysis that card issuers seeks to introduces the emerging payment card technology like debit

and smart cards. Credit cards are being gradually revolutionised by various factors: introduction of customers– friendly technology, a competitive marketing environment, the rise of the financially sophisticated consumer who avoids paying interest and the emergence of new competitors. The concept of debit cards as a new emerging payment system has gained acceptance in the Asia-Pacific region in past few years. Being a new concept, mass acceptance is gradual and not instantaneous. It shows that spending on credit cards is higher than debit cards but the number of transactions are more on debit cards. Nash and Sinkey (1997), On competition, Risk, and Hidden Assets in the Market for Bank Credit Cards” show that the market for credit cards has been the subject of recent attention and controversy because of “High” profits earned on credit cards and substantial s on the resale of credit card receivable. This paper estimates risk-return profiles for credit card banks and explores the role of intangible assets in determining resale s on credit card receivable. Gambir (1998), “Credit cards in India”. He describes that credit cards are relatively new to India. Treated as a status symbol and as a vehicle of consumerism Indian banks burst this business. Till recently as it did not go along very well with the spirit of people because they do not have much money to spend because of bad economic conditions. Carow and Kenneth (1999), “Debit, Credit, or Cash: Survey evidence on Gasoline Purchases.” analyzed the consumer’s payment option to

use debit, general purpose credit cards, gasoline credit cards, or cash. Debit and credit card s are younger, more educated and hold more credit cards. Steindl (2000), “Credit cards, Economization of money, and Interest Rates.” shows the effect of interest rates on use of credit cards, which are increasingly used to finance consumption. The corollary is a reduction in money demand, which reduces the interest rates. Azhagaiah (2002), “Credit creation through plastic money.” This paper focuses the issues of credit cards usage among consumers. It exhibits the recent development, evaluate the present status ad assesses the future of the consumer indebtedness by credit card debt. Bandyopadhyay (2004) in his article “Credit cards look for an Ace” put the light on various issues like, major card players are issuing cards without much checking credentials. It adds to non performing assets [NPA] levels in its portfolio but overall, about 0.6 percent of personal consumption expenditure in India is through credit cards. Jagdeesh (2005), “Credit card fraud: causes and cures from professional’s perspective.” Put a light on credit card fraud which is increasing worldwide. The culprit is not only the outsiders but insider fraudsters who cheat their organization to make quick buck. Bank credit card issuers lose about $1.5 to $ 2 billion every year because of fraud. The VISA and the Master Card, the two largest credit card issuers lose most.

Devlin (2007) “An Analysis of main and subsidiary credit card holding and spending.” This study seeks to examine why most multiple credit cardholders have a “main” card (i.e. a card used more often than others) and “subsidiary” cards (i.e. cards used less often or only in an emergency) and the spending pattern associated with main and subsidiary cards. This study is a qualitative in nature, using a survey which contained open-ended questions to acquire data. Gan (2008) “Singapore credit cardholders: ownership, usage patterns and perceptions.” The purpose of this study is to analyse Singapore’s diverse cardholders in search of variations among demographic groups, credit card profiles, and their perceptions with regard to credit card ownership and use. It then aims to discuss possible reasons governing Singaporeans’ credit card ownership and use. In this study, decision trees were constructed using chi-square technique to examine the association between number of credit cards and the demographic characteristics, perceptions and other credit card-related variables.

CHAPTER NO-4 Methodology

CHAPTER NO-5 Axis bank debit and credit card

Axis bank debit card A debit card (also known as a bank card or check card) is a plastic payment card that provides the cardholder electronic access to their bank s at a financial institution. Some cards may bear a stored value with which a payment is made, while most relay a message to the cardholder's bank to withdraw funds from a payer's designated bank . The card, where accepted, can be used instead of cash when making purchases. In some cases, the primary number is assigned exclusively for use on the Internet and there is no physical card. In many countries, the use of debit cards has become so widespread that their volume has overtaken or entirely replaced cheques and, in some instances, cash transactions. The development of debit cards, unlike credit cards and charge cards, has generally been country specific resulting in a number of different systems around the world, which were often incompatible. Since the mid-2000s, a number of initiatives have allowed debit cards issued in one country to be used in other countries and allowed their use for internet and phone purchases. Unlike credit and charge cards, payments using a debit card are immediately transferred from the cardholder's designated bank , instead of them paying the money back at a later date. Debit cards usually also allow for instant withdrawal of cash, acting as the ATM card for withdrawing cash. Merchants may also offer cashback facilities to customers, where a customer can withdraw cash along with their purchase.

CHOOSING A DEBIT CARD ATM access: If you choose a provider that doesn’t have any ATMs nearby or doesn’t refund the fees, you’ll find yourself paying out-of-network ATM fees to your bank, plus $2+ in surcharges that go to the ATM owner. Make sure you have convenient access at college and at home. Minimum balance requirements: Though many checking s will waive monthly fees because you’re a student, some require you to keep a minimum balance. If you can’t meet that requirement, don’t get that . In-person services: Can you get by with an entirely online bank, or do you need to go into a branch? If you forgo physical services, you can easily find free or even rewards checking s Rewards: Some credit unions, online banks or even traditional banks offer rewards on your debit card spending or interest on the balance in your . Keep an eye out for good deals.

The Axis Bank Debit Card is a Multifunctional Card. It can be used at:



Axis Bank ATMs For transactions such as cash withdrawals, balance inquiry, cheque or cash deposit, PIN change, transfer of funds, mini statement etc.

 

VISA or VISA Plus ATMs For cash withdrawals and balance inquiry transactions.

Merchant establishments (displaying the VISA Electron sign and having Electronic Swipe Terminals): To make payments for purchases at shops, department stores or payments at restaurants, petrol pumps etc.

Axis Bank debit card offer  Customise and craft your own Axis Bank debit card with My Design!  Higher withdrawal and purchase transaction limits on every Axis Bank debit card.  Complimentary access to VIP airport lounges.  Fuel surcharge waivers at petrol bunks across India.  Enhanced insurance coverage for the primary debit card holder.

Overview Axis Bank is the third largest private sector bank in India with a network of 2402 branches and 12,922 ATMs spread across the country. The bank also has its presence in the international arena with offices in Singapore, Dubai, Hong Kong, Colombo and Shanghai. Axis Bank caters to a diverse clientele comprising of retail businesses, MSME, agriculturists and large and midcorporates. Axis Bank holds the distinction of being the first Indian private sector bank to upgrade their representative office in Shanghai to a full-fledged overseas branch. With a wide spectrum of innovative banking products, Axis Bank provides an array of debit cards offering customers convenient cashless shopping, exciting discounts, rewards from the eDGE Loyalty program and personalized card designs. Axis Bank debit cards come with enhanced security features for purchase transactions on Verified by Visa (VbV) and MasterCard SecureCode platforms.

TYPES OF AXIS BANK DEBIT CARDS

1. Cards (i).Burgundy World Debit Card: The Burgundy World Debit Card is a global card with lifestyle privileges tailor made to meet the requirements of a banking customer. Loaded with benefits, this card offers higher transaction limits, dining and travel benefits, rewards redemption, free ATM withdrawal options and insurance coverage to a debit card holder.

Features and Benefits:

 Higher transaction limit: Enjoy an enhanced daily cash withdrawal limit of Rs. 2 lakh and purchase limit of Rs. 6 lakh on your Burgundy World Debit Card subject to the balances held in your .  Book my Show: Complimentary movie tickets (Buy one, get one) through booking at BookMyShow.com and bookmyshow mobile app.

 Fuel Suecharge Welver:

Swipe your debit card at petrol pumps without any fuel surcharge on Your Card.

Eligibility and documentation: The Burgundy World Debit Card is available only to Burgundy holders

(ii).Wealth Debit Card: Wealth holders can design their own version of the Axis Bank Wealth Debit Card available with unlimited privileges, complimentary access, no issuance and annual fee charges, fuel surcharge waivers and free ATM withdrawal options.

Features and benefits:  Generate your debit card PIN  Your Debit Card just got more secure and easier to use!  You can now generate your Debit Card PIN anytime at your convenience at the nearest Axis Bank ATM or by calling Axis Bank Phone Banking.

 Higher transaction limit: Enjoy an enhanced daily cash withdrawal limit of Rs. 2 lakh and a purchase limit of Rs. 5 lakh on your Wealth Debit Card, subject to the balances held in your .

 Free usage at all ATM’s: Enjoy free ATM withdrawals from any bank ATM anywhere in India.

 Dining Delights: Automatic hip to the Axis Bank dining delights program where you Get over 15% off at more than 4,000 restaurants in India visit www.diningdelights.in for further details

 No charges on wealth debit card: Enjoy Issuance and Annual Charges waiver on your Axis Bank Wealth Debit Card.

Eligibility: The Axis Bank Wealth Debit Card is available only to Wealth holders.

(iii)Priority Platinum Debit Card: Introduced mainly for Priority customers of Axis Bank, the Priority Platinum Debit Card offers 25% cashback on movie spends, fuel surcharge waivers, issuance and annual fee waivers and insurance coverage for the debit card holder. Features and Benefits:

 Higher Transaction limit: Enjoy enhanced daily cash withdrawal limit of Rs. 1 lakh and purchase limit of Rs. 4 lakh on your Priority Debit Card subject to the balances held in your .

 25% cashback on movies spend: As a Priority Platinum Debit Card holder, you are entitled to 25% cash back on your movie spends (both online and box office bookings) using your Debit Card.

 My Desighn: Design your card with an image of your choice or choose from a wide array of gallery images on www.axisbank.com/mydesign.

Eligibility: The Axis Bank Priority Debit Card is available only to Priority holders.

(iii)Priority Platinum Chip Debit Card: The Priority Platinum Chip Debit Card works on the Visa-Platinum platform designed exclusively for Axis Bank’s Priority customers with an embedded platinum chip. The card offers higher transaction limits, free ATM withdrawals, rewards redemption program, 25% on movie tickets and complimentary access to airport lounges in all the Metros.

(iii)Privee Debit Card:

Features and Benifits:  Higher Transaction Limit: Enjoy an enhanced daily cash withdrawal limit of Rs. 2 lakh and purchase limit of Rs. 6 lakh on your Privee Debit Card subject to the balances held in your .

 No Charges on Privee Debit Card: Enjoy Issuance and Annual Charges waiver on your Privee Debit Card.

 Unlimited Lounge Access: Unlimited Clipper Lounge access at select domestic & international airports in India.

 Fuel Surcharge Walver: Swipe your debit card at petrol pumps without any fuel surcharge on your card.

 Free Usage at All ATM’s: Enjoy free ATM withdrawals from any bank ATM anywhere in India.

Eligibilty: The Axis Bank Privee Debit Card is available only to Privee holders.

3.Segmented Cards (i)Youth Debit Card: Targeted at the younger generation, the Youth debit card can be procured by Axis Bank customers aged between 18 and 25. The card offers withdrawal and transaction limits of Rs 40,000/- per day, purchase protection, shopping and dining discounts, along with zero lost card liability options.

Feature and Benefits:  Transaction Limits Especially for Axis Bank Priority Platinum Debit cardholders, the daily ATM Cash withdrawal limit has been enhanced to Rs. 40,000 per day at all Bank ATMs. The daily POS limit is Rs. 40,000 at Merchant Establishments, subject to the balances held in the .  Charges and fees: The card has issuance and annual fees of Rs. 400 + taxes and Rs. 400 + taxes respectively

 Zero Last Card ability: As an Axis Bank Debit Card customer, you will be insured for risk of loss due to fraudulent use of a lost or stolen or missing debit card. All you need to do is communicate the loss of your card by calling our 24-hour customer service number.

 Purchase protection:

All consumer durable goods purchased using the debit card are insured against fire, natural calamity, burglary and housebreaking up to 90 days from the date of purchase. You will be eligible for a combined lost card liability and purchase protection of up to Rs 40,000.

Eligibility:Youth Debit Card is meant exclusively for youth customers from the age of 18 to 25 years.

(ii)Ladies First Debit Card: Designed exclusively for homemakers, the Ladies First Debit Card helps them manage their household finances better with a monthly spends tracker, interest on savings, spa and lifestyle privileges, rewards on grocery and apparel purchases, convenient transaction options and an instant debit card procurement process.

Features and Benefits:  5X eDGE Loyalty Rewards points on purchases of Grocery & Apparel: The Ladies First Debit Card comes with an exciting eDGE Loyalty Rewards. It allows you to earn eDGE Loyalty Rewards points on your spends at merchant outlets. The accumulated reward points can be spent on over 500 carefully selected reward items just for you to make your card experience more rewarding! Earn 5 eDGE Loyalty Rewards Points for every Rs. 100 spent on spent on grocery & apparel purchases. All you need is just 300 points for a well-deserved 'Rewards' from our 6 exciting categories - 'Dream Rewards, Little Indulgences, Favourites, Amazing Deals, Festive Specials and What’s new'.

 Monthly Statement with spends tracker: Receive a Spends Tracker with your monthly statement which gives detailed

information of where have you

spent your money – so no more writing down your

expenses in a diary or a

notebook.

 Easy Cash in and Cash out: Loading & using the Ladies First Card is really easy. Card can be loaded through:  Funds transfer/ SI  NEFT  Cash deposit  Cheque 

We give you one free cash transaction (deposit/ withdrawal) at our branches every month! And cash can be taken out through:

 Card swipe at shops, with a daily limit of Rs. 100,000#  Cash withdrawal at any ATM* (Axis Bank or Non-Axis Bank), with a daily limit of Rs. 40,000

Eligibility:

Ladies First Debit Card is issued to housewives only.

(iii)Power Salute Debit Card: The Power Salute debit card is generally issued to defense personnel with a load of benefits like insurance coverage, issuance and annual fees waivers and free ATM withdrawals across India.

Features and Benefits:  Transaction Limit:Enjoy a daily cash withdrawal limit of Rs.40,000 and purchase limit of Rs. 1,00,000 on your Power Salute Debit Card, subject to the balances held in your .  Usage at all ATM’s: Enjoy unlimited free ATM withdrawals from any bank ATM anywhere in India on your Power Salute Card.

 No Charges on Power Salute Debit Card: Enjoy a waiver on Issuance and Annual Charges for your Power Salute Debit Card.

Eligibility: Power Salute Debit Card is being issued to defence segments only.

(iv)NRI Domestic Titanium Debit Card:

The NRI Domestic Titanium debit card comes with insurance benefits, purchase protection, zero lost card liability, 24/7 customer mainly issued for NRO s.

Feature and Benefits:  Transaction Limits: Enjoy a daily cash withdrawal limit of Rs.40,000 and purchase limit of Rs. 1,00,000 on your NRI Domestic Debit Card, subject to the balances held in your .

 Enhanced Insurance Coverage: The Axis Bank Titanium Domestic Debit Card comes with special insurance features that protect you and your loved ones.

 Purchase Protection: All consumer durable goods purchased using the debit card are insured against fire, natural calamity, burglary and housebreaking up to 90 days from the date of purchase. You will be eligible for a combined lost card liability and purchase protection of up to Rs 50,000.

Eligibility: NRI Titanium Domestic Debit Card is meant exclusively for NRO s.

4.Value Added Cards (i)Titanium Rewards Debit Card: As a rewards debit card holder, customers can be part of the Axis Bank eDGE rewards program enjoying privileges on shopping and dining and get other benefits like airport lounge access, 5% cashback on movie spends, higher transaction and withdrawal limits, fuel surcharge waivers and design their own Titanium Rewards Debit Card.

Features and Benefits:  Higher Transaction Limit: Enjoy enhanced daily cash withdrawal limit of Rs.50,000 and purchase limit of Rs. 4 lakh on your Titanium Rewards Debit Card subject to the balances held in your .

 Fuel Surcharge Welver: Swipe your debit card at petrol pumps without any fuel surcharge on your card.

 5% Cashback on Movies Spends: Starting 20th November 2014, you are entitled to 5% cash back on movie spends (both online and box office bookings) done using your Titanium Rewards Debit Card.

Eligibility: Upgrade from Classic Cards - issued to all savings .

(ii)MyDesign - Image Debit Card: Let your Axis Bank debit card be a reflection of ‘You’. Choose or create an image of your choice to be printed on your debit card along with the variant of the card that you need. Depending on the type of card, Axis Bank will charge a nominal deg fee for every MyDesign debit card created.

Features And Benefits:  Print an image of your choice on your Debit Card: Have a look at yourself and your family every time you take your card out to shop, or re-live that glorious moment from your vacation or graduation day. Leave your friends and colleagues spellbound every time you take your personally designed card out to pay.

 Choose an image from our 175-image gallery: Capture a batsman playing a pull shot or a goalkeeper diving full-length to save the ball. Re-live your memories of the Taj Mahal, the Statue of Liberty or the Eiffel Tower. Reproduce your Zodiac sign and all that it reflects about yourself. Adore that cute puppy you have always wanted as a pet and much more right on your card.

 No need to visit your branch if you are already our customer:  If you already hold a Savings with us, you can now apply for your Debit

Card

online

using

Internet

Banking.

Just

visit

www.axisbank/mydesign.com and keep your image and Internet Banking s with you as we help you obtain the Debit Card of your choice from the comfort of your home or office.  However, our entire Image Gallery is available at the Branch, and you can apply for one of the images from the gallery by filling in a Debit Card Application form where you indicate the Image Code of your choice.  You would be charged Re. 1 only as online application charge in addition to the Issuing Fee for your Debit Cards.

 Choose what Debit Card variant you want as well: You can choose not only the image on your Debit Card face but also the variant of the card you want. In other words, even if you presently possess a standard Visa Debit Card, you can choose a MasterCard Titanium Rewards Debit Card (or any other Debit Card that you are eligible for, according to your type) and customize it with an image from our gallery. So, let your Debit Card reflect not only your personality but your affluence as well.

(iii)Secure Debit Card: Your Secure+ Debit Card ensures you can freely use your debit card without ever worrying about misuse/fraud on your card.

Features and Benifits:  Transaction Limit: Enjoy daily cash withdrawal limit of Rs. 50,000 and purchase limit of Rs. 75,000 on your Secure+ Debit Card subject to the balances held in your

 One call service to block all lost or stolen Debit and Credit Card: Reporting loss of your valuable Debit & Credit Cards to each Bank is painful and time consuming. It is not easy to which cards you were carrying and which number to call. With your Axis Bank Secure+ Debit Card now avail single call card loss reporting service to block all your cards with just a single phone call, in case you lose them.  Emergency cash assistance: In the event if you lose your cards/cash while travelling in India and need emergency cash advance up to Rs. 5000 to meet your basic needs and return Home, you can P to avail the same.

 Fraud Protection: Under this plan your cards are covered for fraud due to loss/theft, skimming, counterfeiting, online usage, phishing and PIN based transactions. The fraud protection cover is upto Rs. 75,000 and it begins 15 days prior to the loss of your card.

 Emergency Travel and Hotel Assistance: In the event if you lose your cards/cash while travelling away from home, P will help facilitate the emergency advance that helps you pay your hotel bills and travel tickets up to Rs. 80,000 so that you can return home safely.

Eligibility: Issued to all savings and salary customers.

5.Basic Cards (i)Titanium Prime Debit Card: Prime savings holders can enjoy rewards program benefits, zero issuance charge, insurance coverage and higher purchase limits with their Titanium Prime Debit Cards.

Features and Benefits:  Transaction limits: Your Titanium Prime Debit Card comes with higher withdrawals of Rs. 50,000 and purchase transaction limit of Rs. 1,00,000

 No Insurance Charges On Titanim Prime Debit Card: Enjoy a waiver on the Issuance Charges on your Axis Bank Prime Debit Card.

Eligibility: Titanium Prime debit card is available to Prime Savings customers only.

(ii)Titanium Prime Plus Debit Card: Titanium Prime Plus Debit Card is an out and out shopping card offered to Prime Plus savings holders, loaded with benefits like insurance coverage, 10% cashback on movie tickets, rewards program, zero issuance charges along with MyDesign options.

Features And Benefits:  Transaction Limit: Your Prime Plus Debit Card comes with higher withdrawals of Rs. 50,000 and a purchase transaction limit of Rs. 1,00,000.  10% cash Back on movies: As a Titanium Prime Plus Debit Card holder, you are entitled to 10% cash back on your movie spends (both online and box office bookings) using your Debit Card.

Eligibility: Titanium Prime Plus debit card is available to Prime Plus savings customers only.

(iii)Visa Classic Debit Card:

As an international debit card, the Visa Classic debit card offers enhanced protection to s as a chip or PIN enabled debit card along with unlimited shopping, dining, and travel benefits.

Features and Benefits:  Transaction and Purchase Limits: Enjoy daily withdrawal limit of Rs. 40,000 and purchase limits of Rs. 1,00,000 through with your Visa Classic Debit Cards.

 Higher Security on Chip and PIN Cards: You can choose to apply for Chip & PIN enabled visa debit card for enhanced security of your purchase transactions. Enabling international usage on your Chip & PIN debit card will also give you the freedom to use your debit card across the world, includingtransactions on International websites.

Eligibility: Visa Classic Debit Card is being issued to as a default debit card to select savings banking .

6.Commercial Debit Cards MasterCard Business Debit Card: The MasterCard Business Debit Card is a commercial card packed with attractive benefits, safety features and high transaction limits mainly for selfemployed entrepreneurs, helping them manage their business expenses efficiently.

7.Business Platinum Debit Card:

Your Axis bank debit card can be your business identity with your business name and logo printed on your card! Business banking customers can benefit immensely from the Business Platinum debit card with specially designed programs like Business Savings Plan and other value-added benefits helping them to efficiently manage their businesses. The card also offers other privileges like fuel surcharge waivers, insurance coverage, rewards program and airport lounge access.

8.Business Titanium Rewards Debit Card: Offering the best rewards program to its business banking customers, Axis Bank presents the Business Titanium Rewards debit card with enhanced insurance coverage and high transaction limits.

9.Smart Privilege Debit Card: The Smart Privilege Debit Card is issued to women customers holding Smart Privilege s with Axis Bank. The card comes with withdrawal and purchase limits of up to Rs 1,00,000, rewards program and insurance coverage for the card holder.

10. Other Debit Cards:

(i)Gold Debit Card: Axis Bank's Gold Debit Card is more than just a debit card. It comes with a host of enhanced benefits and reward program.

Features And Benefits:

 Higher Transaction Limit: Enjoy enhanced daily cash withdrawal limit of Rs. 50,000 and purchase limit of Rs. 1.75 lakh on your Gold Debit Card subject to the balances held in your .

 Fuel Surcharge Walver: Swipe your debit card at petrol pumps without any fuel surcharge on your card.

 Personal Accident Insurance Cover: In the unfortunate event of loss of life in a mishap, the customer's beneficiaries will receive the benefit of accident insurance of Rs 5 lakh.

Eligibility: Gold Debit Card is not Issued any more.

(ii)Gold Plus Debit Card: Axis Bank's Gold Plus Debit Card is more than just a debit card. It comes with a host of enhanced benefits and reward program.

Features and Benefits:  Higher Transaction Limit: Enjoy enhanced daily cash withdrawal limit of Rs. 50,000 and purchase limit of Rs. 1.75 lakh on your Gold Debit Card subject to the balances held in your .

 Fuel Surcharge Walver: Swipe your debit card at petrol pumps without any fuel surcharge on your card.

 Airport Lounge Access:

Enjoy lounge access to select airports in the country just by flashing your Axis Bank Wealth Debit Card.

Eligibility: Gold Plus Debit Card is not Issued any more.

(iii)Master Card Classic Debit Card: Axis Bank's MasterCard Classic Debit Card is more than just a debit card. It comes with a host of enhanced benefits.

Features and Benefits:  Transaction Limit: Transaction limit of 1,00,000 for purchase transactions and 25,000 for ATM withdrawals.

 My Design: Design your card with an image of your choice or choose from a wide array of gallery images on www.axisbank.com/mydesign.

Eligibility: MasterCard Classic Debit Card is not Issued any more.

(iv)Smart Privileage: Axis Bank’s Smart Privilege Debit card comes with exciting benefits especially for Women holders. Features and Benefits:  Transaction Limit:

Enjoy a daily cash withdrawal limit and purchase limit of Rs. 1,00,000 on your Smart Privilege Debit Card, subject to the balances held in your .  Zero Lost Card Liability: As an Axis Bank Debit Card customer, you will be insured for risk of loss due to fraudulent use of a lost or stolen or missing debit card. All you need to do is communicate the loss of your card by calling our 24-hour customer service number.  My Design: Design your card with an image of your choice or choose from a wide array of gallery images on www.axisbank.com/mydesign.

Eligibility: Smart Privilege Debit card is issued only to Smart Privilege holders.

Benefits of holding an Axis Bank Debit Card  Customers are entitled to world class offers, discounted prices, luxury indulgences and flexible banking options with their Axis Bank debit cards.  MyDesign - Make your Axis debit card as unique as you! Design a card with your favourite image and special effects in just three easy steps.  Online shopping is now safer with your Axis Bank debit card, enabling s to transact on secured platforms using Verified by Visa (VbV) and MasterCard SecureCode services.  Purchase transactions using your Axis Bank debit card are also secured and validated using your debit card PIN at all retail outlets.

Quick tips to use Axis Bank Debit Card  Ensure completion of a debit card transaction at merchant outlets and ATMs to avoid fraudulent activity on your card.

 Axis Bank customers are advised to take necessary precautions to safeguard their PIN details and not disclose it unnecessarily.  While using your Axis Bank debit card at PoS terminals customers should make sure that the merchant establishment has subscribed to Visa or Visa Electron services.  Customers should mandatorily sign at the back of their debit cards for merchants to validate their signatures at the time of purchases.

Axis Bank Credit Card A credit card is a payment card issued to s as a system of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them. The issuer of the card creates a revolving and grants a line of credit to the cardholder, from which the can borrow money for payment to a merchant or as a cash advance.

A credit card is different from a charge card: a charge card requires the balance to be paid in full each month. In contrast, credit cards allow the consumers a continuing balance of debt, subject to interest being charged. A credit card also differs from a cash card, which can be used like currency by the owner of the card. A credit card differs from a charge card also in that a credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer, whereas a charge card simply defers payment by the buyer until a later date.

The size of most credit cards is 3 3⁄8 × 2 1⁄8 in (85.60 × 53.98 mm), conforming to the ISO/IEC 7810 ID-1 standard. Credit cards have a printed or embossed bank card number complying with the ISO/IEC 7812 numbering standard. Both of these standards are maintained and further developed by ISO/IEC JTC 1/SC 17/WG 1. Before magnetic stripe readers came into widespread use, plastic credit cards issued by many department stores were produced on stock ("Princess" or "CR-50") slightly longer and narrower than 7810. Some modern credit cards have a computer chip embedded in them for security reasons.

Get the best credit cards from Axis Bank through BankBazaar Axis Bank Credit Card Overview: In the year 1994, Axis Bank, a private sector bank, began operations as one of the first new generation banks in India. In 1993, it was tly promoted by several organisations. Among all the private sector banks in India, Axis Bank ranks third. It caters to MSME, Agriculture, Large and Medium Corporates and Retail Businesses. Axis Bank has 2402 branches and 12922 ATMs spread all over the country. A credit card can be of great help, if and when used wisely. The credit amount is readily available and the payments can be made immediately. In case of an emergency, it can prove to be extremely useful. There are 11 varieties of credit cards offered by Axis Bank for its customers.

Why choose Axis Bank credit cards? Catering to every lifestyle requirement, an Axis Bank credit card is the perfect companion for shopping, dining, travel and for purchasing movie tickets. Customers can choose a card that fits them the best and enjoy attractive offers and rewards on each and every credit card purchase.

Features and benefits of an Axis Bank credit card: Axis Bank credit cards offer world class privileges and card holders can enjoy unlimited discounts from various merchant outlets. 

Cashback options

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Higher purchase limits

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Over 500 rewards from Axis Bank's eDGE Loyalty program

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Discounts on dining, shopping and e-commerce transactions

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Airline vouchers

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VIP Lounge access at airports

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Create your own credit card using MyDesign.

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Credit cards with embedded EMV chips for enhanced security.

Why apply for Axis Bank credit cards through BankBazaar? BankBazaar is your one-stop shop for procuring an Axis Bank credit card with easy online application and processing. Customers can compare the different kinds of cards provided by Axis Bank and understand what each one offers. We provide information regarding eligibility and other features of a particular credit card helping customers make a well-informed decision. Applicants can also get instant e-approvals from BankBazaar after they apply for their credit cards.

How to apply for Axis Bank credit cards through BankBazaar? BankBazaar offers an extensive array of Axis Bank credit cards and customers can choose the card that meets their financial requirements. The Credit Card menu on the BankBazaar home page contains a list of banks offering credit cards and customers can choose the link featuring Axis Bank. This will lead them to the Axis Bank credit card page, where they can understand and evaluate different cards and also check their eligibility. Once the card selection has been done, customers can apply for an Axis Bank credit card using the ‘Apply Now’ feature and they will get an immediate e-approval from BankBazaar via email. The application will then be forwarded to Axis Bank for further processing.

Axis Bank Credit Card Eligibility and Documentation : Axis Bank Credit Card Eligibility: 

Primary Card holder should be within the age limit of 18 to 70 years.

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Should be an Indian resident

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Add-on card holder must be above the age of 15 years.

Axis Bank Credit Card Documentation: 

Pan Card photocopy or Form 60

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Income Proof: Form 16/ Latest Payslip/IT Return copy

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Residence Proof: port/ Ration Card/ Electricity Bill/ Landline Telephone bill

Axis Bank Credit Card Details: 1. Card (i)Signature Credit Card with Lifestyle Benefits: Upgrade your lifestyle and enjoy top class benefits. Axis Bank Credit Card with Lifestyle Benefits is definitely the key-card to the gateway of a classy life.

Features and Benefits:  You can have a flexible limit on your card. This card lets you spend more than your credit limit without any extra charges. This feature is only available for Axis Bank Burgundy Customers.  The Taj Epicure Plan hip is an extremely interesting feature of this card. It gives you a discount of 10% for dining at the Taj, which eventually gets converted to Epicure points. You also get a 50% discount on buffet lunch at Taj Coffee Shop, except on Sundays.  Watching your favourite movies at a theatre near you never got better! You are entitled to a 50% cashback on both box office and online tickets, all through the week.

 The card comes with a Global Emergency Assistance. In case of any emergency, Axis bank can transfer credit even when you are overseas. Emergency replacement can also be done in case of loss of card.  The eDGE Loyalty Rewards program helps you earn 10 points for every 200 INR domestic expenditure and 20 points for international expenditure. It helps you earn 100 points on your first transaction only.

Eligibility:  Primary card holder should be in the age bracket of 18 years to 70 years. Addon card holder should be 18 years and above  Net Income - Rs. 9 lakhs and above per annum  Should be a resident of India  The above eligibility criteria are only indicative. The bank reserves the right to approve or decline applications for Credit Card.

Documentation:  PAN card photocopy or Form 60  Income Proof: Latest payslip/ Form 16/ IT return copy  Residence Proof: port/ driving license/ ration card/ electricity bill/ landline telephone bill  The above list is only indicative and documents required may vary on a case to case basis.

(ii)Signature Credit Card with Travel Benefits: If travelling is your ion, this is definitely the card you should get.Axis Bank Signature Credit Card with Travel benefits is absolutely the ‘magic carpet’ for you and will fulfil your dream of being a traveller.

Features and Benefits:

 You receive an IndiGo Airlines voucher within 45 days from activation.  You are entitled to 25% cashback on both online and box office movie ticket purchases.  Enjoy special benefits at airport lounges. Sit back and relax at over 700 VIP lounges in more than 90 countries and 275 cities worldwide.  You will be offered assistance during your travel, no matter where you are in the world.  Refuel your vehicle at any station across India and enjoy fuel surcharge refund.  Upto 20% discounts on dining.

Eligibility:  Primary card holder should be in the age bracket of 18 years to 70 years. Addon card holder should be 18 years and above  Net Income - Rs. 9 lakhs and above per annum  Should be a resident of India.  The above eligibility criteria are only indicative. The bank reserves the right to approve or decline applications for Credit Card.

Documentation:  PAN card photocopy or Form 60  Income Proof: Latest payslip/ Form 16/ IT return copy  Residence Proof: port/ driving license/ ration card/ electricity bill/ landline telephone bill  The above list is only indicative and documents required may vary on a case to case basis.

2.Co Branded Cards (i)Miles & More Credit Card:

Neither your miles nor your smiles ever expire. If you are a frequent flyer with Lufthansa, Austrian airlines, Swiss Air or any other airline service that falls under this category then this is a must-get card for you. This card is directly linked to your Miles & More Mileage . It has several benefits for a cardholder and a member.

Features and Benefits: 

You earn 5000 miles on World Cards and 15000 miles on World Select Cards. The annual bonus is 3000 miles and 4000 miles on World Cards and

World Select Cards, respectively.  Your accumulated miles will never expire. You may use it as per your convenience, without worrying about time constraints.  You may pay your Axis Bank Credit Card bills from any other bank .  Getting a home loan is pretty easy with this card. You can save up a lot of money using this card when you buy a house or invest in a property.  You can transfer credit balance from other cards to your Axis Bank Miles &

More Credit Card. This helps you save up a lot.

3.My Cards (i)MY Choice Credit Card: If you want a personalised credit card and design it the way you want with your choice of benefits, look no further. This Axis bank my choice card caters to your saving needs and also gives you spending benefits. Craft your own card and make it what you want it to be.

Features and Benefits: 

Pick a picture of your choice or select any from the pre-existing gallery

images and customize your card. Make it as unique as you are.  Pick any two from Dining, Fuel, Electronics, Utility bills, Travel and Supermarkets and you can get a 5% cashback on them.  You can earn 4 points for every 200 INR that you spend. A straight 100 points can be earned on your first online transaction.  The EMV certified chip credit card gives you complete protection from all kinds of fraud.

Eligibility: 

Primary cardholder should be in the age bracket of 18 years to 70 years.

Add-on cardholder should be 15 years and above.  Should be an individual resident of India or non-resident Indian.

Documentation:     

PAN card photocopy or Form 60 Colour Photograph Income Proof: Latest payslip/ Form 16/ IT return copy. Residence Proof: port/ ration card/electricity bill/ landline telephone bill. Identity Proof: port/ driving license / PAN card /Aadhaar card.

(ii)MY Zone Credit Card: This card offers you a great time when you are out shopping, dining or at a movie. It is the ultimate fun-seeker for you. The rewards are too good to resist. In short, this card is your best buddy when you are out with friends.

Features and Benefits:

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The EMV certified chip gives this card a top notch security status.

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Your eDGE loyalty points multiply by 10 times when you use your Axis Bank MY Zone Credit Card for dining out on weekends.

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Your eDGE loyalty points multiply by 5 times when you use your Axis Bank MY Zone Credit Card at supermarkets or apparel store on weekends.

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25% cashback on purchase of both online and box office tickets for movies. Eligibility:

 Primary card holder should be in the age bracket of 18 years to 70 years. Addon card holder should be 15 years and above.  Should be an individual resident of India or non-resident Indian.

Documentation:     

PAN card photocopy or Form 60 Colour Photograph Income Proof: Latest payslip/ Form 16/ IT return copy Residence Proof: port/ ration card/ electricity bill/ landline telephone bill Identity Proof: port/driving license / PAN card /Aadhaar card

(iii)MY Wings Credit Card: This particular credit card is extremely beneficial if you travel a lot. Whether it is a bus, train or flight it does not matter since this card will definitely come in handy for all your travel purposes.

Features and Benefits: 

You will be entitled to two base fare flight tickets.

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You will get 20% cashback on base fares for booking domestic flights.

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Every time you use your MY Wings Credit Card on the IRCTC website you get a discount of 25 INR.

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Every bus ticket you book using the card, gets you a INR 100 cashback.

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400 INR cashback can be earned by booking a car from any car rental in India.

Eligibility:  Primary cardholder should be in the age bracket of 18 years to 70 years. Add-on cardholder should be 15 years and above.  Should be an individual resident of India or non-resident Indian.

Documentation:     

PAN card photocopy or Form 60 Colour Photograph Income Proof: Latest payslip/ Form 16/ IT return copy Residence Proof: port/ ration card/ electricity bill/ landline telephone bill Identity Proof: port/ driving license / PAN card / Aadhaar card

(iv)MY Business Credit Card: MY Business Credit Card is best suited for the business banking customers of Axis Bank. The offers available with this card help customers manage businesses efficiently. The card comes with low interest rates, substantial savings and much more.

Features and Benefits:  The card offers 20% cashback on base fares of flight bookings on ezeego1.com.  500 INR cashback on domestic return flight bookings and 1500 INR cashback on international return flight bookings.

 You can earn 4 points for every 200 INR you spend from your card. You are entitled to a 100 points on your first online transaction.  You can enjoy complimentary access to several airport lounges across the country, twice in every three months.  You can get 30% cash from your credit limit even when you are overseas.

4.Other Credit Cards (i)Titanium Smart Traveler Credit Card: Axis Bank Titanium Smart Traveler Credit Card is very beneficial from people who travel. This card will definitely make your journey a happy one.

Features and Benefits: 

You can earn 8 eDGE loyalty points for every 200 INR you spend while travelling abroad.

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In India, you can earn 4 eDGE loyalty points for every 200 INR you spend on booking hotels, buses, flights etc.

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2.5% fuel surcharge waiver on all fuel transactions.

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The protection is top notch and you are safe from fraud attacks.

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For all other spends, you will earn 2 eDGE Loyalty Rewards Point for every Rs. 200 spent.

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Convert Purchase to EMI.

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Zero Lost Card liability up to credit limit.

(ii)Platinum Credit Card: Axis Bank Platinum Credit Card offers several benefits such as cashbacks, loyalty points, etc. and hence this card is definitely very useful.

Features and Benefits: 

The EMV certified chip provides added security and consumer protection.

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You can get a 25% cashback on both online and box office movie ticket purchases.

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Axis Bank will replace the card is case of loss or theft of card. The Global Emergency Assistance feature is extremely useful.

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You can earn 6 eDGE loyalty points for every 200 INR that you spend domestically and 12 points for every 200 INR spent internationally.

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Highest level of Security.

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Zero Lost card liability up to credit limit.

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Convert Purchase to EMI

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Get a 2.5% fuel surcharge waiver on all fuel transactions with your Axis Bank Platinum Card

(iii)Insta Easy Credit Card: You need minimal documents to get this credit card. The card can be availed at any Axis Bank branch, provided you have a fixed deposit of minimum 20000 INR in Axis Bank. A lot many rewards and benefits are associated with this card.

Features and Benefits: 

This card offers a great amount of security. The Platinum chip is extremely effective against fraud.

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This card offers upto 100% cash withdrawal.

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Every 200 INR you spend domestically, you earn 6 eDGE loyalty points and every 200 INR you spend internationally, you earn 12 eDGE loyalty points.

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The credit limit is pretty flexible. You can decide your own credit limit.

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Credit Limit as high/low as you Want.

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Graranteed Approval.

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Convert Purchase to EMI.

(iv)Shriram Credit Card: This is a co-branded credit card. Axis Bank launched it in association with Shriram Transport Finance Company Limited (STFCL). This credit card is only for STFCL customers. The customers should have a good track record. The card is very useful for transport operators. They can buy oil, tyres, batteries, etc. and can make use of VISA merchant outlets across India.

Features and Benefits: 

1 reward point is earned on spending 100 INR.

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Credit shield amount is 15000 INR.

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Lost card liability is 15000 INR.

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The cardholder can have his own photo on the credit card.

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Complementary Comprehensive Insurance Benifits.

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Free Mobiile Alerts.

New Launches: Neo Credit Card: Enjoy the world of exciting offers and benefits with your Axis Bank Neo Credit Card.

Features and Benifits     

Welcome Benefits Enjoy the 'Power of 10' eDGE Loyalty Rewards Program Highest Level of Security Zero Lost Card Liability up to credit limit

 Convert purchases to EMI

Pay Axis Bank Credit Card Outsatnding in 3 simlple steps

1. Provide your Credit Card Details:  Enter your 16 digit Axis Bank Credit Card number and the amount you would like to pay.  Select your bank from which you would like to execute this payment (we partner only with select banks).  You will be securely redirected to the payment interface of your chosen bank.

2. Confirm Payment:  Enter your authentication details (Net Banking ID and of your Bank / Equivalent details).  Confirm payment amount.  Your will get debited instantaneously.

3. Receive Online Confirmation:  You will receive an online transaction confirmation and a Transaction Reference Number.

Axis Bank Debit Card Application Form

Axis Bank Credit Card Form

CHAPTER NO-6

SWOT Analysis Strengths 

Axis bank has been given the rating as one of top three positions in of fastest growth in private sector banks

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Financial express has given number two position and BT-KPMG has rated AXIS bank as the best bank with some 26 parameters

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The bank has a network of 1,493 domestic branches and 8,324 ATMs

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The bank has its presence in 971 cities and towns

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The banks financial positions grows at a rate of 20% every year which is a major positive sign for any bank

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The company’s net profit is Q3FY12 is 1,102.27 which has a increase of 25.19% growth compared to 2011

Weaknesses 

Gaps – Majorly they concentrated in corporate, wholesale banking, treasury services, retail banking

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Foreign branches constitute only 8% of total assets

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Very recently the bank started focusing its attention towards personal banking and rural areas

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The share rates of AXIS bank is constantly fluctuating in higher margins which makes investors in an uncomfortable position most of the time

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There are lot of financial product gaps in of performance as well as reaching out to the customer

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There are many fraudulent activities involved in credit cards as the banks process credit card approval even without verification of original documents

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Their financial consultants are not wise enough to guide the customers towards right investments

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Customer service has to improve a lot in order to be in race with other major players

Opportunities 

Acquisitions to fill gap

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In 2009, Alliance with Motilal Oswal for online trading for 10 million customers

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In 2010, acquired Enam Securities Pvt Ltd – broking and investment banking

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In Sep 2009, SEBI approved Axis Asset Management Co. for mutual fund business

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No. of e-transactions increased from 0.7 million to around 2 million

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Geographical expansion to rural market – 80% of them have no access to formal lending

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46% use informal lending channels

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24% unregulated money lenders

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Now number of branches increased to 1493 from 339.

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Last quarter there were 48 new branches opened across the Nation

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Since it’s a new age banking there are lot of opportunities to have the advance technicalities in banking solutions compared to existing major players

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The assets in their international operations are growing at a very faster pace with a growth rate of 9%.

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The concept of ETM (Everywhere teller machine) by AXIS Bank had a good response in of attracting new customers in personal banking segment

Threats

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Since 2009, RBI has increased CRR by 100 basis points

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Increased repo rate reverse repo rate by 50 points – 11 times of late

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Increasing popularity of QIPs due to ease in fund raising

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RBI allowed foreign banks to invest up to 74% in Indian banking

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Government schemes are most often serviced only by govern banks like SBI ,Indian Banks, Punjab National Bank etc

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ICICI and HDFC are imposing strong threats in of their expansion in customer base by their aggressive marketing strategies

CHAPTER NO- 7

Finding and conclusion  The study mainly was on the debit and credit card facility provided by the axis bank.  In this study I found that the bond of axis Bank with its customer is very strong, because Axis Bank mainly focus on retaining their customers.  The study finds that however Axis Bank is not athe lendingprivate sector bank but its vast range of products and availiability of options make it one of the better in India.  The bank should pay more attention on giving updates and should increase the level of services providing because the competitors of Axis are better in the area.  The study finds that Axis Bank provided best debit and credit card facility to their customers.  The bank should focus on mass banking in order to increase their market share.  The bank should launch such products which would be within the reach of the lower middle class.  The Axis Bank facilitates different types of debit and credit cards to their customers.

CHAPTER NO-8 Biblography