Alva'S College, Moodbidri A Unit of

ALVA’S COLLEGE, MOODBIDRI
A UNIT OF
ALVA’S EDUCATION FOUNDATION ®
B.com Vacation On the job training PROJECT REPORT

Topic: Report on General Insurance and Financial Services
Submitted By
Roll no: CM17295 Name: Manish. A. Shetty
Class and section: 2nd B.ComE
A FIELD STUDY REPORT SUBMITTED TO COMMERCE
DEPARTMENT ALVA’S COLLEGE
Guide: Ms. Ashalatha
Lecture in Department of Commerce
2018-2019
DECLARATION
I, hereby declare that the project on “LIC of India

Moodbidri ” is prepared by as during the year 2018-2019
under the guidance of Ms.Ashalatha, Lecturer of
Commerce Department, Alva’s college, Moodabidri.
I also declare that this project report is the result of my own

hand- work and that it has not been submitted to any
University or Institution for the award of any degree or
Diploma or Master Degree.
Place: Moodabidri Your’sfaithfully,
Date: 02-01-2019
ACKNOWLEDGEMENT
I take this opportunity to thank one and all who help directly
and indirectly in completing my project work.
First I thank Almighty God for being my guiding light in the
entire task.
I express my sincere gratitude to our principal “Prof. Kurian”
for the precious encouragement to do this research.
A sincere word of gratitude to our HOD “MR. Umesh Shetty”
for granting us the permission to take up this study and also
right discussion and guidelines.
I am thankful to our guide “MS. Ashalatha", providing all her
help, guidance, co-operations and encouragement to complete
my study.
A deep felt thanks to all our friends who have been a part and
parcel of this research and my family that has been the
guiding light and inspiration to me.
INDEX
Serial No. Particulars
01 Introduction
02 Firm’s profile
03 Work experience
04 Conclusion
CHAPTER – 1
Introduction
Syndicate Bank
was established in 1925 in Udupi, the abode of LordKrishna
in coastal Karnataka with a capital of Rs.8000/- by three
visionaries - SriUpendra Ananth Pai, a businessman, Sri
Vaman Kudva, an engineer and Dr.T MA Pai, a physician -
who shared a strong commitment to social welfare. Their
objective was primarily to extend financial assistance to the
local weavers whowere crippled by a crisis in the handloom
industry through mobilising smallsavings from the
community. The bank collected as low as 2 annas daily at
thedoorsteps of the depositors through its Agents under its
Pigmy Deposit Schemestarted in 1928. This scheme is the
Bank's brand equity today and the Bank collects around Rs. 2
crore per day under the scheme.The progress of Syndicate
Bank has been synonymous with the phase of progressive
banking in India. Spanning over 80 years of pioneering
expertise, theBank has created for itself a solid customer base
comprising customers of two or three generations. Being
firmly rooted in rural India and understanding the grassroot
realities, the Bank's perception had vision of future India. It
has been propagating innovations in Banking and also has
been receptive to new ideas,without however getting uprooted
from its distinctive socio-economic and culturalethos. Its
philosophy of growth by mutual sustenance of both the Bank
and the people has paid rich dividends. The Bank has been
operating as a catalyst of development across the country with
particular reference to the common man atthe individual level
and in rural/semi urban centres at the area level.The Bank is
well equipped to meet the challenges of the 21st century in the
areasof information technology, knowledge and competition.
A comprehensive IT planis being put in place and the skills
and knowledge of the Bank's personnel are being upgraded
through a variety of training programmes to promote
customer delight in every sphere of its activity. The Bank has
launched an ambitioustechnology plan called Centralised
Banking Solution (CBS) whereby 500 of our strategic
branches with their ATMs are being networked nationwide
over a 4 year period.
Objective of study
1. To know about banking in practically.
2. To collect the information about banking
3. Gaining experience about the work place.
4. Boosting the skills of the students.
5. Understanding the real world situations.
6. Improving the communication skills.
7. Gaining expertise over the subject.

Limitation of on the job training
1. That guider is have in a so match work so some time he

is angry on me for silly reasons in fast.
2. Guider is not give the freedom to operate the software.
3. To learn all about banking system is not possible in short

period of time.
4. Guider have there own workload.
5. Staff’s are not providing the much information about

the working software.
6. Guider provide information after 1.30.

CHAPTER - 2
Firm’s profile
Syndicate bank branch is located in mogaru
village,kukkate village Mangalore. The main aim
of the branch is to provide loan to the needy
people at present it the profit making branch for
syndicate bank. Head office is located in Udupi. It
provide equal importance to educate and
agriculture. By providing the loan. This is
customer friendly bank this is the public sector
bank. People have faith in this bank this help run
in smooth way. India is a developing nation so
bank takes important role in improvement this
village. This bank branch contain 2 staffs and 1
manager. This bank also develop the saving
mobilize among the people but providing the
Pigmy account to the customer. Branch
containing easy deposit and withdrawal facilities.
Manager name is Mr. Naveen. Guider name is
Mr.Santhosh kumar. This branch is located in
village area .branch provided all the services to its
customer
Bank: SYNDICATE BANK
Address: MOGARU VILLAGE , KUKKATE VILLAGE ,

MANGALORE TALUK. PIN-574144
State: KARNATAKA
District: MANGALORE (Click here for all the
branches of "SYNDICATE BANK" in
"MANGALORE" District)
Branch: MOGARU
Contact: 9449860912
IFSC Code: SYNB0000258 (used for RTGS, IMPS

and NEFT transactions)
Branch Code: Last six characters of IFSC Code

represent Branch code.
MICR Code: 575025053

CHAPTER - 3
Work Experience
This report is a short description of my 15 days

internship carried out as a compulsory component of
third semester of B.Com. The internship was carried out
within syndicate bank, Mogaru. This internship report
contains my activities followed by my functioning and
the unexpected circumstances. Finally, I give a
conclusion on the internship experience according to
my learning goals.
I have done my internship in United Syndicate Bank
Mogaru. which is a public sector bank. Mr. Santhosh
Kumar was my guide throughout this - on the job
training. He trained me in bases of practical practice in
the branch. He provide all the information about the
banking activities.
First, they gave introduction about banking,
deposits, loan facilities and rate of interest provided by
the bank.
Next, they explained me about Pigmy deposits and
transactions. They taught me how to use “syndicat
NXD” software in order to create a new Pigmy account
of a customer. While creating a new Pigmy account
.Pigmy collecting agent that includes, name of the
customer, date on which the account is created, ID
number of the customer, signature of the customer, ID
number of the agent, and details of the nominee. The
customer can not withdraw the deposited amount till 6
months as per the bank rules. If the customer
withdraws the amount before the completion of 6
months, 4% from the deposited amount will be
deducted whereas, if the customer withdraws the
amount after 1 year, 3% interest is given to them by the
bank.
My trainers told me about suspense clearance. It is the
duty of the bank to transfer the amount from the Pigmy
collector’s account to the Pigmy deposit account of the
customers. This is all about pigmy a/c syndicate bank is
founder of pigmy a/c.It was the wonderful experience.
In this bank branch
FINDINGS:
1. Pigmy deposit is a main mode of operation.
2. I found that thay are neglecting agricultural loan.
3. I found that thay are giving education loan only

few selected students.
4. Mortgage loan is considered as the major loan

taken by the customers while compared to other
loans in this bank.
5. Housing loan and land purchase loan is the main

aim target of the bank to give housing loan and
land purchase loan.
Chapter-4
SUGGESTIONS AND CONCLUSION:
Today all business depends on the needs of the customer. A

business should provide sustainable service to the customer. It
is very important that service standards are of very high
quality. In case of syndicate bank, as per my observation,
customers are satisfied by all the services provided by the
bank. But in my opinion, the bank should attract new
customers and expand its base for future growth. This has to
be done in the face of stiff competition from other similar
banking institutions, who also will give good service.
The bank should understand the needs of modern customers
and there are lot of issue in internet banking, mobile banking
and use all other available technologies to achieve service
excellence. The bank should regularly review its loan products
and other operations according to the current needs of the
customers. It should also have a practice of rewarding a good
customer for his prompt payment and being with the bank for
a considerable period of time. I would conclude by save
saying that syndicate bank is one of best bank. Thank sir
giving a such opportunity.

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ALVA’S COLLEGE, MOODBIDRI

ALVA’S EDUCATION FOUNDATION ®

B.com Vacation On the job training PROJECT REPORT

I, hereby declare that the project on “LIC of India

I also declare that this project report is the result of my own

Place: Moodabidri Your’sfaithfully,

Serial No. Particulars

1. To know about banking in practically.

2. To collect the information about banking

3. Gaining experience about the work place.

4. Boosting the skills of the students.

5. Understanding the real world situations.

6. Improving the communication skills.

7. Gaining expertise over the subject.

1. That guider is have in a so match work so some time he

2. Guider is not give the freedom to operate the software.

3. To learn all about banking system is not possible in short

4. Guider have there own workload.

5. Staff’s are not providing the much information about

6. Guider provide information after 1.30.

Address: MOGARU VILLAGE , KUKKATE VILLAGE ,

IFSC Code: SYNB0000258 (used for RTGS, IMPS

Branch Code: Last six characters of IFSC Code

MICR Code: 575025053

This report is a short description of my 15 days

2. I found that thay are neglecting agricultural loan.

3. I found that thay are giving education loan only

4. Mortgage loan is considered as the major loan

5. Housing loan and land purchase loan is the main

Today all business depends on the needs of the customer. A

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