EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

Private banking is a concept which is new and fast emerging in the world of banking where
changes have become a necessity in order for banks to survive in this competitive
environment vis--vis not only from the public and private sector banks but also from the
foreign banks. The objective of the research is to explore the various products, which a
private banker deals into and the systematic process involved to match client requirements
with the right kind of product.
Through this research one of the main objectives is to explore the reason why most of the
banks are injecting private banking as business profile to their set of service offerings.
Though private banking evolved in late 80s in Asia, in India its not more than 5 years old.
ICICI started it in Aug 2002 and since then it has been a remarkable success. Today there
are enormous solutions to cater client needs but what suits best to a client is where private
banking fits in. Every client will have different needs, liking and preferences. So a
customized portfolio for every client is the need of the day.
This research will highlight more on the product portfolio of ICICI Private Banking, how
they have changed or innovatively structured to be attractive and competitive.

BANKING STRUCTURE IN INDIA

Scheduled Banks in India
(A) Scheduled Commercial Banks
Public sector Banks
(28)
Nationalized
Bank
Other Public
Sector Banks
(IDBI)
SBI and its
Associates

Private sector
Banks
(27)
Old Private
Banks
New Private
Banks

Foreign Banks in
India
(29)

Regional Rural Bank

(102)

(B) Scheduled Cooperative Banks

Scheduled Urban Cooperative
Banks (55)

Scheduled State Cooperative

Banks (31)

Here we more concerned about private sector banks and competition among them. Today, there
are 27 private sector banks in the banking sector: 19 old private sector banks and 8 new private
sector banks.
These new banks have brought in state-of-the-art technology and aggressively marketed their
products. The Public sector banks are facing a stiff competition from the new private sector
banks.
3

The banks which have been setup in the 1990s under the guidelines of the Narasimham
Committee are referred to as NEW PRIVATE SECTOR BANKS.

The banking section will navigate through all the aspects of the Banking System in
India. It will discuss upon the matters with the birth of the banking concept in the country
to new players adding their names in the industry in coming few years.
The banker of all banks, Reserve Bank of India (RBI), the Indian Banks Association (IBA)
and top 20 banks like IDBI, HSBC, ICICI, ABN AMRO, etc. has been well defined under
three separate heads with one page dedicated to each bank.
However, in the introduction part of the entire banking cosmos, the past has been well
explained under three different heads namely:

History of Banking in India

Nationalization of Banks in India

Scheduled Commercial Banks in India

The first deals with the history part since the dawn of banking system in India.
Government took major step in the 1969 to put the banking sector into systems and it
nationalized 14 private banks in the mentioned year. This has been elaborated in
Nationalization Banks in India. The last but not the least explains about the scheduled and
unscheduled banks in India. Section 42 (6) (a) of RBI Act 1934 lays down the condition of
scheduled commercial banks. The descriptions along with a list of scheduled commercial
banks are given on this page.

INTRODUCTION

HISTORY
Without a sound and effective banking system in India it cannot have a healthy economy.
The banking system of India should not only be hassle free but it should be able to meet
new challenges posed by the technology and any other external and internal factors.
For the past three decades India's banking system has several outstanding achievements to
its credit. The most striking is its extensive reach. It is no longer confined to only
metropolitans or cosmopolitans in India. In fact, Indian banking system has reached even
to the remote corners of the country. This is one of the main reasons of India's growth
process.
The government's regular policy for Indian bank since 1969 has paid rich dividends with
the nationalization of 14 major private banks of India.
Not long ago, an account holder had to wait for hours at the bank counters for getting a
draft or for withdrawing his own money. Today, he has a choice. Gone are days when the
most efficient bank transferred money from one branch to other in two days. Now it is
simple as instant messaging or dial a pizza. Money have become the order of the day.
The first bank in India, though conservative, was established in 1786. From 1786 till today,
the journey of Indian Banking System can be segregated into three distinct phases. They
are as mentioned below:

Early phase from 1786 to 1969 of Indian Banks

Nationalization of Indian Banks and up to 1991 prior to Indian banking sector

Reforms.

New phase of Indian Banking System with the advent of Indian Financial &
Banking Sector Reforms after 1991.
6

To make this write-up more explanatory, I prefix the scenario as Phase I, Phase II and
Phase III.

Phase I
The General Bank of India was set up in the year 1786. Next came Bank of Hindustan and
Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of
Bombay (1840) and Bank of Madras (1843) as independent units and called it Presidency
Banks. These three banks were amalgamated in 1920 and Imperial Bank of India was
established which started as private shareholders banks, mostly Europeans shareholders.
In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab
National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and
1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank,
and Bank of Mysore were set up. Reserve Bank of India came in 1935.
During the first phase the growth was very slow and banks also experienced periodic
failures between 1913 and 1948. There were approximately 1100 banks, mostly small. To
streamline the functioning and activities of commercial banks, the Government of India
came up with The Banking Companies Act, 1949 which was later changed to Banking
Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of
India was vested with extensive powers for the supervision of banking in India as the
Central Banking Authority.
During those days public has lesser confidence in the banks. As an aftermath deposit
mobilization was slow. Abreast of it the savings bank facility provided by the Postal
department was comparatively safer. Moreover, funds were largely given to traders.

Phase II

Government took major steps in this Indian Banking Sector Reform after independence. In
1955, it nationalized Imperial Bank of India with extensive banking facilities on a large
scale especially in rural and semi-urban areas. It formed State Bank of India to act as the
principal agent of RBI and to handle banking transactions of the Union and State
Governments all over the country.
Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on 19th
July, 1969, major process of nationalization was carried out. It was the effort of the then
Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country
was nationalized.
Second phase of nationalization Indian Banking Sector Reform was carried out in 1980
with seven more banks. This step brought 80% of the banking segment in India under
Government

ownership.

The following are the steps taken by the Government of India to Regulate Banking
Institutions in the Country:

1949: Enactment of Banking Regulation Act.

1955: Nationalization of State Bank of India.

1959: Nationalization of SBI subsidiaries.

1961: Insurance cover extended to deposits.

1969: Nationalization of 14 major banks.

1971: Creation of credit guarantee corporation.

1975: Creation of regional rural banks.

1980: Nationalization of seven banks with deposits over 200 crore.

After the nationalization of banks, the branches of the public sector bank India rose to
approximately 800% in deposits and advances took a huge jump by 11,000%.
8

Banking in the sunshine of Government ownership gave the public implicit faith and
immense confidence about the sustainability of these institutions.

Phase III
This phase has introduced many more products and facilities in the banking sector in its
reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set
up by his name which worked for the liberalization of banking practices.
The country is flooded with foreign banks and their ATM stations. Efforts are being put to
give a satisfactory service to customers. Phone banking and net banking is introduced. The
entire system became more convenient and swift. Time is given more importance than
money.
The financial system of India has shown a great deal of resilience. It is sheltered from any
crisis triggered by any external macroeconomics shock as other East Asian Countries
suffered. This is all due to a flexible exchange rate regime, the foreign reserves are high,
the capital account is not yet fully convertible, and banks and their customers have limited
foreign exchange exposure.

INDIAN BANKING INDUSTRY

BANKS IN INDIA
In India the banks are being segregated in different groups. Each group has their own
benefits and limitations in operating in India. Each has their own dedicated target market.
Few of them only work in rural sector while others in both rural as well as urban. Many
even are only catering in cities. Some are of Indian origin and some are foreign players.
All these details and many more is discussed over here. The banks and its relation with the
customers, their mode of operation, the names of banks under different groups and other
such useful informations are talked about.
One more section has been taken note of is the upcoming foreign banks in India. The RBI
has shown certain interest to involve more of foreign banks than the existing one recently.
This step has paved a way for few more foreign banks to start business in India.

Major Banks in India

ABN-AMRO Bank

Indian Overseas Bank

Abu Dhabi Commercial Bank

IndusInd Bank

American Express Bank

ING Vysya Bank

Andhra Bank

Jammu & Kashmir Bank

Allahabad Bank

JPMorgan Chase Bank

Bank of Baroda

Karnataka Bank

Bank of India

Karur Vysya Bank

Bank of Maharastra

Laxmi Vilas Bank

Bank of Punjab

Oriental Bank of Commerce

Bank of Rajasthan

Punjab National Bank

Bank of Ceylon

Punjab & Sind Bank

BNP Paribas Bank

Scotia Bank

10

Canara Bank

South Indian Bank

Catholic Syrian Bank

Standard Chartered Bank

Central Bank of India

State Bank of India (SBI)

Centurion Bank

State Bank of Bikaner & Jaipur

China Trust Commercial Bank

State Bank of Hyderabad

Citi Bank

State Bank of Indore

City Union Bank

State Bank of Mysore

Corporation Bank

State Bank of Saurastra

Dena Bank

State Bank of Travancore

Deutsche Bank

Syndicate Bank

Development Credit Bank

Taib Bank

Dhanalakshmi Bank

UCO Bank

Federal Bank

Union Bank of India

HDFC Bank

United Bank of India

HSBC ICICI Bank

United Bank Of India

IDBI Bank

United Western Bank

Indian Bank

UTI Bank

Fact Files of Banks in India

The first, the oldest, the largest, the biggest, get all such types of informations about
Banking in India in this section.
The first bank in India to be given an ISO Certification

Canara Bank

The first bank in Northern India to get ISO 9002 certification for Punjab
their selected branches

The first among the private sector banks in Kerala to become a

scheduled bank in 1946 under the RBI Act
11

Sind

Bank

The first Indian bank to have been started solely with Indian Punjab
capital

and

National

Bank

South Indian Bank

India's oldest, largest and most successful commercial bank,

offering the widest possible range of domestic, international and
NRI products and services, through its vast network in India and

State Bank of India

overseas
India's second largest private sector bank and is now the largest The Federal Bank
scheduled commercial bank in India

Limited

Bank which started as private shareholders banks, mostly Imperial

Europeans shareholders

Bank

of

India

The first Indian bank to open a branch outside India in London in Bank

of

India,

1946 and the first to open a branch in continental Europe at Paris founded in 1906 in
in 1974
The oldest Public Sector Bank in India having branches all over
India and serving the customers for the last 132 years

Mumbai

Allahabad Bank

The first Indian commercial bank which was wholly owned and Central
managed by Indians

Bank

of

India

Bank of India was founded in 1906 in Mumbai. It became the first Indian bank to open a
branch outside India in London in 1946 and the first to open a branch in continental Europe
at Paris in 1974.

PUBLIC SECTOR BANKS

Among the Public Sector Banks in India, United Bank of India is one of the 14 major
banks, which were nationalized on July 19, 1969. Its predecessor, in the Public Sector
12

Banks, the United Bank of India Ltd., was formed in 1950 with the amalgamation of four
banks viz. Camilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918),
Camilla

Union

Bank

Ltd.

(1922)

and

Hooghly

Bank

Ltd.(1932).

Oriental Bank of Commerce (OBC), Government of India Undertaking offers

Domestic, NRI and Commercial banking services. OBC is implementing a GRAMEEN
PROJECT in Dehradun District (UP) and Hanumangarh District (Rajasthan) disbursing
small loans. This Public Sector Bank India has implemented 14 point action plan for
strengthening of credit delivery to women and has designated 5 branches as specialized
branches for women entrepreneurs.

The following are the list of Public Sector Banks in India

Allahabad Bank

Andhra Bank

Bank of Baroda

Bank of India

Bank of Maharastra

Canara Bank

Central Bank of India

Corporation Bank

Dena Bank

Indian Bank

Indian Overseas Bank

13

Oriental Bank of Commerce

Punjab & Sind Bank

Punjab National Bank

Syndicate Bank

UCO Bank

Union Bank of India

United Bank of India

Vijaya Bank

List of State Bank of India and its subsidiary, a Public Sector Banks

State Bank of India

o

State Bank of Bikaner & Jaipur

State Bank of Hyderabad

State Bank of Indore

State Bank of Mysore

State Bank of Saurastra

State Bank of Travancore

PRIVATE SECTOR BANKS:

Private banking in India was practiced since the beginning of banking system in India. The
first private bank in India to be set up in Private Sector Banks in India was IndusInd Bank.
It is one of the fastest growing Bank Private Sector Banks in India. IDBI ranks the tenth
largest development bank in the world as Private Banks in India and has promoted world
14

class

institutions.

The first Private Bank in India to receive an in principle approval from the Reserve Bank
of India was Housing Development Finance Corporation Limited, to set up a bank in the
private sector banks in India as part of the RBI's liberalization of the Indian Banking
Industry. It was incorporated in August 1994 as HDFC Bank Limited with registered office
in Mumbai and commenced operations as Scheduled Commercial Bank in January 1995.
ING Vysya, yet another Private Bank of India was incorporated in the year 1930.
Bangalore has a pride of place for having the first branch inception in the year 1934. With
successive years of patronage and constantly setting new standards in banking, ING Vysya
Bank has many credits to its account.
List of Private Banks in India

Bank of Punjab

Bank of Rajasthan

Catholic Syrian Bank

Centurion Bank

City Union Bank

Dhanalakshmi Bank

Development Credit Bank

Federal Bank

HDFC Bank

ICICI Bank

IDBI Bank

IndusInd Bank

ING Vysya Bank

Jammu & Kashmir Bank

15

Karnataka Bank

Karur Vysya Bank

Laxmi Vilas Bank

South Indian Bank

United Western Bank

The Indian banking market is growing at an astonishing rate, with Assets expected to reach
US$1 trillion by 2010. An expanding economy,

middle class,

and technological

innovations are all contributing to this growth.

The countrys middle class accounts for over 320 million People. In correlation with
the growth of the economy, rising income levels, increased standard of living, and
affordability of banking products are promising factors for continued expansion.
The Indian banking market is growing at an astonishing rate, with Assets expected to reach
US$1 trillion by 2010. An expanding economy,
innovations are all contributing to this growth.

16

middle class,

and technological

The Indian banking Industry is in the middle of an IT revolution, Focusing on the

expansion of retail and rural banking. Players are becoming increasingly customer centric in

their approach, which has resulted in innovative methods of offering new

banking products and services.

Banks are now realizing

the importance of being a

big player and are beginning to focus their attention on mergers

take

advantage

of economies of

scale and/or

comply

and acquisitions to
with

Basel II

regulation.Indian banking industry assets are expected to reach US$1 trillion by 2010 and
are poised to receive a greater infusion of foreign capital, says Prathima Rajan, analyst in
Celent's banking group and author of the report. The banking industry should focus on
having a small number of large players that can compete globally rather than having a large
number of fragmented players."

17

OVERVIEW

Type

Private, BSE & NSE, NYSE

Founded

1955 (as Industrial credit and

Investment corporation of India)
ICICI Bank Ltd.,
ICICI Bank Towers,

Headquarters
Bandra Kurla
Mumbai, India
Key people

N Vaghul, K.V. Kamath, Chanda

Kochhar, V Vaidyanathan, Madhabi
Puri

Industry

Banking
Insurance
Capital Markets and allied industries

Products

Loans, Credit Cards, Savings,

Investment vehicles, Insurance etc.

18

Revenue

USD 13.52 billion

Total assets

Rs. 5,946.42 billion (US$ 100

billion) at March 31, 2014.

ICICI Bank (formerly Industrial Credit and Investment Corporation of India). ICICI
Limited was established in 1955 by the World Bank, the Government of India and the
Indian Industry, for the promotion of industrial development in India by giving project and
corporate finance to the industries in India.
ICICI Bank has grown from a development bank to a financial conglomerate and has
become one of the largest public financial institutions in India. ICICI Bank has financed all
the major sectors of the economy, covering 6,848 companies and 16,851 projects. As of
March 31, 2000, ICICI had disbursed a total of Rs.1,13,070 crores, since inception.
ICICI Bank Fact Files:
Total assets: Rs. 5,946 billion (December 31, 2014)
Network: 3,845 branches
ATMs: Over 12,012
Abroad Subsidiaries: United Kingdom and Canada
Abroad branches: Singapore and Bahrain
Representative offices: United States, China, United Arab Emirates, and Bangladesh and
South Africa.

ICICI Bank is India's second-largest bank with total assets of about Rs. 2,513.89 bn
(US$ 56.3 bn) at March 31, 2006 and profit after tax of Rs. 25.40 bn (US$ 569 mn) for the
year ended March 31, 2006 (Rs. 20.05 bn (US$ 449 mn) for the year ended March 31,
2005). ICICI Bank has a network of about 614 branches and extension counters and over
2,200 ATMs. ICICI Bank offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and through its
specialized subsidiaries and affiliates in the areas of investment banking, life and non-life
insurance, venture capital and asset management. ICICI Bank set up its international
19

banking group in fiscal 2002 to cater to the cross border needs of clients and leverage on
its domestic banking strengths to offer products internationally.

ICICI Bank (BSE: ICICI) ( Industrial Credit and Investment Corporation of India) is
India's largest private sector bank in market capitalization and second largest overall in
terms of assets. Bank has total assets of about USD 100 billion (at the end of March 2008),
a network of over 1,491 branches, 22 regional offices and 49 regional processing centers,
about 4,485 ATMs (at the end of September 2008), and 24 million customers (at the end of
July 2007). ICICI Bank offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and specialized
subsidiaries and affiliates in the areas of investment banking, life and non-life insurance,
venture capital and asset management. (These data are dynamic.) ICICI Bank is also the
largest issuer of credit cards in India. ICICI Bank has got its equity shares listed on the
stock exchanges at Kolkata and Vadodara, Mumbai and the National Stock Exchange of
India Limited, and its ADRs on the New York Stock Exchange (NYSE).
The Bank is expanding in overseas markets and has the largest international balance sheet
among Indian banks. ICICI Bank now has wholly-owned subsidiaries, branches and
representatives offices in 18 countries, including an offshore unit in Mumbai. This includes
wholly owned subsidiaries in Canada, Russia and the UK (the subsidiary through which
the hisave savings brand is operated), offshore banking units in Bahrain and Singapore, an
advisory branch in Dubai, branches in Belgium, Hong Kong and Sri Lanka, and
representative offices in Bangladesh, China, Malaysia, Indonesia, South Africa, Thailand,
the United Arab Emirates and USA. Overseas, the Bank is targeting the NRI (NonResident Indian) population in particular.
ICICI reported a 1.15% rise in net profit to Rs. 1,014.21 crore on a 1.29% increase in total
income to Rs. 9,712.31 crore in Q2 September 2008 over Q2 September 2007. The bank's
current and savings account (CASA) ratio increased to 30% in 2008 from 25% in 2007.

20

ICICI Bank currently has subsidiaries in the United Kingdom, Russia and Canada,
branches in Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai International Finance
Center and representative offices in the United States, United Arab Emirates, China, South
Africa and Bangladesh. Our UK subsidiary has established a branch in Belgium. ICICI
Bank is the most valuable bank in India in terms of market capitalization.

ICICI Bank's equity shares are listed in India on the Bombay Stock Exchange and the
National Stock Exchange of India Limited and its American Depositary Receipts (ADRs)
are listed on the New York Stock Exchange (NYSE).

ICICI Bank has formulated a Code of Business Conduct and Ethics for its Directors
and employees. At June 5, 2006, ICICI Bank, with free float market capitalization of about
Rs. 480.00 billion (US$ 10.8 billion) ranked third amongst all the companies listed on the
Indian stock exchanges.
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial
Institution, and was its wholly owned subsidiary. ICICI's shareholding in ICICI Bank was
reduced to 46% through a public offering of shares in India in fiscal 1998, an equity
offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition
of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary
market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was
formed in 1955 at the initiative of The World Bank, the Government of India and
representatives of Indian industry.

21

The principal objective was to create a development financial institution for Providing
medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI
transformed its business from a development financial institution offering only project
finance to a diversified financial service group offering a wide variety of products and
services, both directly and through a number of subsidiaries and affiliates like ICICI Bank.
In 1999, ICICI become the first Indian company and the first bank or financial institution
from non-Japan Asia to be listed on the NYSE.

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger
of ICICI and two of its wholly owned retail finance subsidiaries, ICICI Personal Financial
Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was
approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of
Gujarat at Ahmadabad in March 2002, and by the High Court of Judicature at Mumbai and
the Reserve Bank of India in April 2002. Consequent to the merger, the ICICI group's
financing and banking Operations, both wholesale and retail, have been integrated in a
single entity.
Free float holding excludes all promoter holdings, strategic investments and Cross holdings
among public sector entities.

22

BUSINESS OBJECTIVES:
Vision
To be the leading provider of financial services in India and a major global bank.

Mission
We will leverage our people, technology, speed and financial capital to:
be the banker of first choice for our customers by delivering high quality, worldclass
service.
Expand the frontiers of our business globally.
Play a proactive role in the full realization of Indias potential.
Maintain a healthy financial profile and diversify our earnings across businesses
and
geographies.
Maintain high standards of governance and ethics.
Contribute positively to the various countries and markets in which we operate.
Create value for our stakeholders.

Product and Services

Service and banking of ICICI bank categorized in to personal banking, business banking
and NRI banking services.
Personal banking- Deposit in form of saving, recurring, term deposit, senior citizen
deposit and children depository account are there for individual customer can also avail of
their housing, automobile, farm equipment, business or personal loan scheme. Personal
client can also invest in mutual funds and participate in stock trading through ICICI bank.
Business banking Business banking services of ICICI Bank are exhaustive. Project
financing, deal assessment, and land evaluation are investment banking services offered to
corporate clients. Global trade and cash management transaction services facilitate
remittances and receipts across important cities. Capital market and custodial services
enable business houses to participate in equity trading and transfer across major stock
markets
of
world.

23

CUSTOMER
ICICI bank targets all segment of customer with various types of products and services. I
interacted with a a lot of customers and collect their feedback on the given services of
company, and feedback are positive response from all point of view. Customers are
beneficiary from both sides monetary as well as non monetary. The bank targets to add
nearly 500,000 customers under the new scheme in the next one year and plans to offer
auto loans through the new online channel in the future, ICICI Bank's Executive Director,
V Vaidyanathan, said here.
"As of now, nearly 24 per cent of our customer transactions are happening through internet.
We are primarily targeting our urban customers, who constitute nearly 70 per cent of our
total customer-base," Vaidyanathan said.
Customers, opting for the service can also benefit from the quantum optima facility,
wherein if the balance exceeds Rs 5,000, the money will automatically be transferred to a
fixed deposit scheme, he said. The facility, which also enable customers to transact
between an ICICI Bank account and accounts in other banks, is being offered free of cost,
he said ICICI bank, presently, has above 2 crore customers. The lender opened nearly 470
branches in the last fiscal. The lender has also plans to launch 'SMS n Cash' scheme later
this week under which ICICI account holders can transfer funds to those who do not have a
bank account. ICICI bank is strongly committed to protecting the privacy of its customers
and has taken all necessary and reasonable measures to protect the confidentiality of the
customer information and its transmission through the world wide web and it shall not be
held liable for disclosure of the confidential information when in accordance with this
privacy commitment or in terms of the agreements, if any, with the customers.
ICICI bank Endeavours to safeguard and ensure the security of the information provided
by the customer. ICICI bank uses 128-bit encryption, for the transmission of the
information, which is currently the permitted level of encryption in India. When the
information provided by the customers is not transmitted through this encryption, the
customer's system (if configured accordingly) will display an appropriate message
ensuring the best level of secrecy for the customer's information.
The customer would be required to cooperate with ICICI bank in order to ensure the
security of the information, and it is recommended that the customers necessarily choose
their passwords carefully such that no unauthorized access is made by a third party. To
make the password complex and difficult for others to guess, the customers should use
combination of alphabets, numbers and special characters (like! @, #, $ etc.). The
customers should undertake not to disclose their password to anyone or keep any written or
other record of the password such that a third party could access it.
ICICI bank undertakes not to disclose the information provided by the customers to
any person, unless such action is necessary to:
Conform to legal requirements or comply with legal process;
Protect and defend ICICI bank's or its affiliates rights, interests or property;
24

 Enforce the terms and conditions of the products or services; or

Act to protect the interests of ICICI bank, its affiliates, or its members, constituents
or of other persons.

COMPETITOR
The main competitor of is ICICI bank is SBI because this bank is totally taken by
government after this bank HDFC bank is the main competitor of ICICI bank .There are
different types of segment operation semment, investment and services, demat and NRI
services.The competitor from the operation segment are State Bank of India(SBI), Axis,
Housing Development and Financial corporation(HDFC) etc.From the investment And
service sector HDFC standard life insurance corporation, Bharati Axa life insurance
,Reliance Life Insurance Corporation, Max new work life insurance SBI Life
insurance,Life
Insurance
Corporation
of
India.In
demat
section
India
bull,Anangram,SBI,HDFC,India Infoline are the main competitor of ICICI bank.In the
NRI service section the Western Union bank is the main competitor of ICICI bank.There
are some other company who also compete with the ICICI bank After the SBI the HDFC
bank is the main competitor of ICICI bank.
HDFC Bank Ltd. is a commercial bank of India, incorporated in August 1994, after the
Reserve Bank of India allowed establishing private sector banks. The Bank was promoted
by the Housing Development Finance Corporation, a premier housing finance company
(set up in 1977) of India. HDFC Bank has 1,500 branches and over 2,890 ATMs, in 530
cities in India, and all branches of the bank are linked on an online real-time basis. As of
September 30, 2008 the bank had total assets of INR 1006.82 billion.
State Bank of India is the largest bank in India. It is also, measured by the number of
branch offices and employees, the second largest bank in the world.[citation needed] The
bank traces its ancestry back through the Imperial Bank of India to the founding in 1806 of
the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent.
The Government of India nationalised the Imperial Bank of India in 1955, with the
Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008,
the Government took over the stake held by the Reserve Bank of India.SBI provides a
range of banking products through its vast network in India and overseas, including
products aimed at NRIs. With an asset base of $126 billion and its reach, it is a regional
banking behemoth. SBI has laid emphasis on reducing the huge manpower through Golden
handshake schemes and computerizing its operations.The State Bank Group, with over
16000 branches , has the largest branch network in India. It has a market share among
25

Indian commercial banks of about 20% in deposits and advances, and SBI accounts for
almost one-fifth of the nations loans.There are some other banks which gives challenging
some how in the banking and service sectorthey are:
Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
IDBI Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab & Sind Bank
Punjab National Bank
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank

26

ENVIRONMENT
An employer the bank extends a lot of authority along with justified accountability to you.
The working culture is very collaborative in nature. It can be owed to the fact that the bank
is highly segmented with a lot of overlapping and mostly distinct roles and
responsibility.ICICI Bank has established itself as a one stop solution (Universal Bank) for
all financial need of individuals and institutions alike. The credit for the same can be
attributed to its vast network, probably the largest among private sector banks.This makes
the life of an employee a lot easier, especially for those who face the external customers.
You do not have to justify your organization, it is only the product that has to be pitched.
As far as employee benefits are concerned, ICICI Bank offers a lot of financial benefits
ranging from your family health insurance to your kids school donations. The organization
is sensitive to the needs of its employees as this quality is one of the building blocks
(DNA) of the organizational culture. The organization will be giving you enough
flexibility to innovate and come-up with new ideas. It will also exhibit its in terms of well
laid systems, processes and infrastructure. It will extend a fast track growth for those with
extraordinary talent at the same time offer stability to those who are able to deliver
satisfactorily.Overall, I would say its a lifetime experience to work with such a behemoth
organization. It might not be the best paymaster but it definitely will impress you with its
capability as the head master (Principal) of banking industry.there are huge competition
between the eployee to achieve theo goal.

TECHNOLOGY
ICICI use many type of advance technological software like Pinnacle 7.0 and
Pinnacle7.016.Among from this software ICICI bank uses the e-banking, core banking,
mobile banking electronic display sy ICICI Bank was using Teradata for its data
warehouse. However, due to its proprietary hardware, the cost of procurement, upgrades
and administration was soaring. The closed box architecture of Teradata imposed
restrictions on scalability. Secondly, querying and loading could not happen
simultaneously. Queries could only be run during business hours because the loading of
data had to take place during off-business hours. This meant that the refresh rate of EDW
was delayed, so queries may not reflect the most current data. ICICI Bank was also
dependent on Teradata for support and other activities: The bank was completely tied down
to that solution.
These issues compelled ICICI Bank to look for more efficient and flexible solutions. The
solution would have to address not only current issues, but accommodate future growth
expectations and business requirements. ICICI Bank evaluated numerous data warehousing
solutions in the pursuit of solving its issues, and developed a shortlist of alternatives for its
migration proof-of-concept: Sybase, SAS and Netezza. The primary criteria for evaluation
was the price-to-performance ratio where Sybase IQ emerged the clear winner. During this
rigorous testing, Sybase IQ delivered faster results on independent hardware and operating
systems with minimum infrastructure. Commending the improvements achieved, Amit
Sethi, Joint General Manager, ICICI bank says, "What impressed us wasthat even with
27

overall lower costs, we could achieve significantly better query performanceafter

implementing the Sybase enterprise warehouse solution." ICICI Infotech today launched
an enterprise resource planning (ERP) solution for the small and medium enterprises.
The ERP package - Orion Advantage - comes bundled with an HP dual processor Xeon
server, Oracle 9i database, Windows 2003 server and costs about Rs 9.90 lakh and has a
15-user license.
An ERP package helps a manufacturer or any other business implementing it to manage all
the important parts in the company such as product planning, parts purchasing, maintaining
inventory and interacting with suppliers and customers.
ICICI Infotech officials told a press conference here today that Orion Advantage offered a
set of business practice solutions for industry segments such as engineering, auto ancillary,
pharmaceuticals, chemicals and IT distribution. Besides the cost advantage, the ERP
package also came pre-configured. ICICI Infotech had mapped the processes specific to
each industry segment into the package.
Mr. Manoj Kunkalienkar, Executive Director and President, ICICI Infotech, said that small
and medium enterprises (SMEs) offered a good market and ICICI Infotech hoped to
become a leading solution provider to this segment.
Mr. R.K. Kanthi, Deputy General Manager, ICICI Infotech, said there was no ERP package
for the SMEs that bundled the server, database and operating system right now. That was
the advantage ICICI Infotech offered to SMEs as Orion Advantage came bundled and preconfigured. Besides the high cost of generic ERP packages, their implementation time as
far as SMEs were concerned was also long. Orion Advantage could be installed in 45 days.
ICICI Infotech had signed up six customers so far for the package and hoped to garner a 15
per cent market share of the SME segment, whose number in the country was estimated at
2.30 lakh.
Mr. K.S. Natarajan, Managing Director, Trident Pneumatics Pvt Ltd of Coimbatore, one of
the companies that had installed Orion Advantage, said that the company had tried three
other ERP packages, all of which had failed, before settling on Orion Advantage.
Mr Kunkalienkar said that ICICI Infotech planned to move the two development centers in
Chennai into a single location and double the staff strength from 300 now in the next two
years.
The Chennai centers were involved in research and development of Orion ERP solutions
and Premia, an insurance package.

28

ERP Systems Integration

Pinnacle Software Solutions has the expertise and experience to assist you with your
enterprise systems integration. From developing your strategy, through implementation and
support, we bring the right combination of resources, management skillsets, and technical
know-how. We will help you successfully integrate your Enterprise Resource Planning
(ERP) systems into your overall business and technology infrastructure.
Whether you are planning an upgrade of an existing ERP system, or a complete
replacement of a legacy application and platform, we can help you improve your financial,
human resources, electronic mail, and other business systems. We work with the leading
ERP systems, including the latest versions of the Oracle and PeopleSoft applications:
General Ledger
Project Costing
Accounts Payable
Human Resources
Accounts Receivable
Payroll
Purchasing
Benefits
Asset Management
Compensation
Our technology management solutions will help you migrate hardware platforms, improve
network and database performance, develop or refresh policies and procedures, and
develop sound disaster recovery and backup solutions. Please contact us to learn how
Pinnacle Software Solutions can help you develop solutions that fit your enterprise.

29

OBJECTIVE OF THE PROJECT

OBJECTIVE OF THE PROJECT

To make a comparative study of Saving & Current Account with other banks

To know which bank is better from the customer point of view.

MEANING OF PROJECT:
Project gives us necessary guidance and though for the foundations of business. A
project is an essential requirement of business and for motivated person. Prior
starting of any project it is necessary to understand the meaning of every letter of
30

world Project each letter of the project has its special meaning that is
discussed.

P Planning: - The first step P stands for planning, planning is the word that means
prior the construction of anything and for their arrangement there should be good planning
which gives better results in manufacturing the thing that is being prepared as well as it is
the bridge of between present and future.

R: Resource: R stands for resource as resource give the current idea to promote the
work.

O: Operative: It is a process of performing various functions in systematic way.

J: Joint Effort: a project cannot achieve its maximum success without the complete
cooperation of group member.

E: Engineering: Engineering is a branch of science under which a given task can be

performed efficiently with the help of knowledge and technique in a short duration by
employing less money.

C: Communication: Communication simply means the exchange of ideas, which flows

between two or more person as well as from one place to another place.

31

T: Techniques: Techniques is a simply an art performing a task the project should be

finished with different technique of works.

32

RESEARCH METHODOLOGY

Data Collection Techniques:

This project consists of two parts:
The first part is a study of the banking industry, ICICI Bank using secondary data sources.
This secondary information has been sourced from the internet and from business related
magazines and newspapers.
The second part of the study has been done using an exploratory research process and a
structured questionnaire was developed for this purpose. For the collection of primary
data this was the only method used. The reason I used this method is because a need was

33

felt for the free influx of information about the products. Also this method allowed the use
of skills gained in class.
Sample Design:
The population considered for the purpose of the survey was people residing in Delhi and
the National Capital Region (NCR).
Sampling Technique Used:
Since the information required was not of a very technical nature and also looking at the
scope of the project and the extent of the target segment, the sampling technique employed
was Convenience Sampling. I administered the questionnaires.

Sample Size:
I have restricted the sample size to 50 respondents. This was done keeping in mind the time
constraints and the fact that I felt that this number would be enough to serve the
information needs required to show the trends.

34

CORPORATE PROFILE

Corporate profile ICICI is a diversified financial service group providing a broad

spectrum of financial solutions to corporate and retail clients. In the corporate banking
segment, ICICI provides a wide variety of services ranging from traditional rending to
structure and derivative products and fee based advisory services.
The Government of India along with the World Bank and the Indian industry formed
ICICI. It is a 47year old institution (established on 1955). It is one of the largest financial
institutions in India. It is Indias first company to be listed on New York stock exchange
(NYSE) and also the first bank from non-Japan Asia to be listed on NYSE. ICICI enjoys
35

rating with Moody, which is higher than the sovereign rating. It is the first Indian company
to pierce the sovereign rating given by Modes. Mr. Kamath the CEO of ICICI is the first
Indian CEO to receive the Asian Business Leader award.
ICICI was chosen BANK OF THE YEAR by the bankers magazine U.K. in 2002. It has a
large network of over 13000 advisors selling Life Insurance in India. All the advisors have
undergone a professional 100 hours training approved by IRDA .It enjoys the highest AAA
credit rating, which ensures highest safety of money. Its equity shares are listed on all
prestigious stock exchanges at Chennai, Delhi, Kolkata, Vadodra, Mumbai, National Stock
Exchange (NSE) and NYSE. In the year 2000 ICICI bank was awarded the best bank
award by global finance media Inc. ICICI made its first debenture issue in 1967 for Rs.6
crore, the response was overwhelming which lead to over subscription. ICICI venture
funds management Company limited is Indias largest venture Company. It has been
awarded the best-presented account award by ICAI for the last three years. The bank has a
base of over 5 million customer accounts. It has the largest ATM network in India.

The features of ICICI bank

Balance sheet in excess of Rs. 3 Trillion.
It is the second largest bank in India.
Best bank in Asia by Euromey Magazine.
500+ branches in over 150 cities.
Anywhere banking at close to 400 branches in more than 145 cities.
2000 + ATMs.
Leader in almost all segments of banking Hewitt associates and business today survey rated
ICICI as the fourth best company to work for India in year 2000. To exploit the

36

considerable business potential offered by the Internet, ICICImarkets.com, a wholesale

financial portal is developed and maintained by ICICI to cater to the transaction
requirements of Corporate, banks and financial institutions. This website provides a one
stop shop for information, decision support, solutions, analytics

and quality service to

financial markets participants. The portal aims to create a platform for fund managers to
take informed and calculated decisions and initiate transactions on the website.

ICICI Bank A Universal Bank

RETAIL BANKING --The retail business is the key driver of ICICI Banks growth strategy. The retail-banking
group comprises ICICI banks retail assets business including various retails credit
products, retail liabilities (include our own deposit accounts as well as distribution of
third part liability products) and rural micro banking.
ICICI bank is today retail financial super market with the ability to cross cells the
entire range of credits and investment product and other banking services to the
customers.
The key dimensions of ICICI retail strategy are products, channels and processes,
under print by a strong customer focus.

37

Home Loans

Car Loans

Consumers Loans

Saving and Term deposit

Power Pay

Business Multiplier

Investment Products

Private Banking

INR Services

Demat Services

Credit Cards

Debit Cards

Smart Cards

E- Cheque

Branches

ATMs

Internet

Call Centers

CORPORATE BANKING
ICICI banks corporate banking strategy is based on providing customized financial
solutions to clients tailored to meet their specific requirements.The corporate banking
strategy focuses on careful management of credit risk and adequate return on risk
capital through risk Based pricing and proactive portfolio management, repaid growth
in fee-based services and extensive use of technology to Deliver high levels of
customers satisfaction in a cost-effective manner.

38

Agriculture

Emerging Corporate

Capital Markets

Government Enter prices

International Banking

Corporate Solution

Structured Products

Project Finance

ATMs
ICICI Bank's 24 Hour ATM network is one of the largest and most widespread ATM
Network in India. Our ATMs are located in commercial areas, residential localities, major
petrol pumps, airports, near railway stations and other places, which are conveniently
accessible to our customers.
ICICI Bank ATMs features user-friendly graphic screens with easy to follow instructions.
We have introduced ATMs, which interact with customers in their local language for
increased convenience.
Following are the features available on our ATMs, which can be accessed from anywhere
at anytime.
Cash Withdrawal: Withdraw upto Rs. 25,000/- per day from your account (50,000 for
HNI's). Fast Cash option provides the facility of withdrawing prefixed amounts. Ultra Fast
Cash option allows you to withdraw Rs.3000/- in one shot
Balance Enquiry: Know your ledger balance and available balance
Mini Statement: Get a printout of your last 8 transactions and your current balance
Deposit Cash / Cheque: Available at all full function ATMs, Customers can deposit both
cash and cheque. Cash deposited in ATMs will be credited to the account on the same day

39

(provided cash is deposited before the clearing) and cheque are sent for clearing on the
next working day.
Funds Transfer: Transfer funds from one account to another linked account in the same
branch
PIN Change: Change the Personal Identification Number (PIN) of ATM or Debit card.
Payments: The latest feature of our ATMs, this functionality can be used for payment of
bills, making donations to temples / trusts, buying internet packs, airtime recharges for
prepaid mobile phones and much more...
Others: Request for a checkbook from our ATMs and our concerned branch will dispatch
it such that it reaches you within 10 working days.
Charges: There is no charge levied on ICICI Bank customers for transacting on ICICI
Bank's ATMs. However for customers not maintaining the minimum quarterly average
balance in their savings account, first 6 transactions in the quarter will be free and Rs. 25
per transaction will be charged thereafter.

Merger Of ICICI With ICICI Bank:

Fiscal 2002 marked a turning point in the history of the ICICI group, as it witnessed the
culmination of the ICICI groups strategy of becoming an integrated financial services
provider the merger of ICICI ltd (ICICI) with ICICI bank. The merger was a path-breaking
initiative, which created Indias first Universal Bank and the second largest bank in the
country. As part of the reorganization two of ICICI wholly owned retail finance subsidiaries
viz. ICICI personal financial services ltd (ICICI PFS) and ICICI capital services ltd (ICICI
Capital), were also merged with ICICI bank, in order to integrate and consolidate the retail
business. The merged entity has a diversified asset base, technology driven distribution
network, fast growing retail customer base, strong corporate relationships and considerable
40

potential for growth in profitable business segments. The scheme of amalgamation of ICICI,
ICICI PFS and ICICI capital with ICICI bank became effective on May 3, 2002. The
appointed date of the merger was March 30, 2002.
The merger of ICICI with ICICI bank would not have been possible without the support and
advice of the government of India and RBI.

Heritage Of Leadership

1.

1955 ICICI- among the first development banks in the world to be set up in
the private sector founded at the initiative of the World Bank government of India
and Indian industry.

2.

ICICI catalyses industrial development in India- becomes a major source of

foreign currency loans from multilateral agencies and international financial
market.

3.

ICICI initiates setting up of development institutions in the field of housing

and state level industrial development also

4.

Extends institutional support to similar efforts in other developing nations.

5.

ICICI diversifies into merchant banking and leasing operations.

6.

ICICI promotes specializes institutions in the areas of credit rating venture

capital, investment banking and asset management.

41

7.

ICICI promotes ICICI bank, marking its first foray into retail banking.

8.

ICICI articulates concept of universal banking in India to fulfill corporate and

retail financial requirement launches a comprehensive array of products and
services.

9.

ICICI goes global, becomes the first Indian entity to list on the New York
stock exchange (NYSE). ICICI bank becomes the first Indian bank to list on
NYSE.

10.

ICICI bank spearheads technology banking to enhance customer convenience

by introducing multi channel delivery network, inter connected branches, ATMs,
and call centers and Internet banking.

11.

ICICI and two subsidiaries merge with ICICI bank to emerge as the first
universal bank in India.

SYNERGY OF ICICI BANK

Leadership

42

Indias first universal bank

Stability
The second largest bank in India
Capital Base
A large capital base of over Rs. 70 billion
Relationships
Extensive corporate and retail customer Relationship
Reach
Extended reach of over 614 branches and offices
Over 2000 ATMs Internet and call centers

STRATEGY OF ICICI BANK

43

 People
A vast pool efficiently blending professionalism with a warm personal approach to serve
the customer.
Products
Comprehensive suite of products and services.
Processes
Technologies enable distributions and product delivery system.

CORPORATE BASELINE OF ICICI

44

Our mission and goals are encapsulated in corporate baseline safer, simpler, and
smarter
The corporate baseline is designed to a company the logo of ICICI group. In order to
form a single cohesive unit. Each product is free to follow a baseline that best
communities its unique selling promotion for new products the baseline would need to
be approved.

About ICICI Bank

Balance sheet in excess of Rs.5 Trillion.

2nd largest bank in India.

Best bank in Asia by euro money magazine.

750+ branches in over 270 cities.

Anywhere banking at close to 400 branches in more than 145 cities.

3500+ ATMs.

Leader in almost all segments of banking

SAFER
Indias second largest bank
15 million customers
1 lakh crore assets
AAA credit rating
Rated the best managed bank in Asia by euro money magazine
45

 Listed on NSE stock exchange

SIMPLER
Over 2200 ATMs.
Over 514 branches and extensions counters.
24 hours customer services Via phone, mobile and Internet access.
8 am to 8 pm banking.

SMARTER
A range of products to suit every financial need.
Technology to deliver customer convenience.
Instant A/C opening.

ICICI Prudential Life Insurance Company Limited

46

ICICI Prudential life Insurance Company Limited was incorporated on 20th July 2000.The
authorized capital of the company is Rs.2300 million and the paid up capital is Rs.1500
million. The company is joint venture of ICICI (74%) and UK based company Prudential
Plc (26%). The company was granted certificate of registration for carrying business, by
Insurance Regulatory and Development Authority on 24th November 2000. It commenced
commercial operation from 19th December 2000 and becoming a leading private sector life
insurance company.
The company recognizes that the driving force for gaining sustainable competitive
advantage in this business is superior customer experience and investment behind the
brand. The company aims to achieve this by striving to provide world class service level
trough constant innovation in product, distribution channels and technology based delivery.
Vision and Mission
Their vision is to make ICICI Prudential Life Insurance Company the dominant new
insurer in the life insurance industry. This they hope to achieve through their commitment
to excellence, focus on service, speed and innovation, and leveraging our technological
expertise.
The success of the organisation will be founded on its strong focus on values and clarity of
purpose. These include:

Understanding the needs of customers and offering them superior products and
service

Building long lasting relationships with their partners

Providing an enabling environment to foster growth and learning for their

employees

And above all building transparency in all our dealings.They believe that they can play a
significant role in redefining and reshaping the sector. Given the quality of their parentage
and the commitment of their team, they feel that tere will be no limits to their growth.
Board of Directors
The ICICI Prudential Life Insurance Company Limited Board comprises reputed people
from the finance industry both from India and abroad.
Shri K.V. Kamath, Chairman
Mr. Mark Tucker
Smt. Lalita D. Gupte
Mr. Danny Bardin
Mrs. Kalpana Morparia
Shri M.P. Modi
Mr. John Caouette
Shri S.P.Subhedar, (Alternate Director to Mr. Danny Bardin)
Mr. Derek Stott, (Alternate Director to Mr. Mark Tucker)
Smt. Shikha Sharma, Managing Director
Management Team
47

Ms. Shikha Sharma, Managing Director

Mr. Kevin Wright, Executive Vice President - Sales & Distribution
Ms. Madhavi Soman, Chief - Strategic Initiatives
Mr. V. Rajagopalan, Appointed Actuary
Mr. Sandeep Batra, Chief Financial Officer & Company Secretary
Mr. Saugata Gupta, Chief - Marketing & Service
Mr. Shubhro J. Mitra, Chief - Human Resources
Corporate Office:
ICCI Prulife Towers,
1089, Appasahab Marathe Marg,
Prabhadevi,
Mumbai 400 025.
Telephone Number: 022-462 1600
Website : www.iciciprulife.com

ICICI Lombard General Insurance Company

ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between
ICICI Bank Limited and Canada based Fairfax Financial Holdings Limited. ICICI Bank is
India's second largest bank, while Fairfax Financial Holdings is a diversified financial
corporate engaged in general insurance, reinsurance, insurance claims management
and Investment management. Lombard Canada Ltd, a group company of Fairfax Financial
Holdings Limited, is one of Canada's oldest property and casualty insurers. ICICI Lombard
General Insurance Company received regulatory approvals to commence general insurance
business in August 2000.

Board Members

48

Mr K V Kamath, Chairman

Mr R Athappan, Director

Mr B V Bhargava, Director

Mr Dileep Choksi, Director

Mr James F Dowd, Director

Ms Lalita D Gupte, Director

Ms Kalpana Morparia, Director

Mr S Mukherji, Director

Mr Chandran Ratnaswami, Director

Mr H N Sinor, Director

Mr Sandeep Bakhshi, Managing Director & CEO

Mr. S Mukherji, Chairman

Mr. Dileep Choksi, Director

Mr. James F Dowd, Director

Mr. H.N. Sinor, Director

Mr. Chandran Ratnaswami, Chairman

Ms. Kalpana Morparia, Director

Mr. Sandeep Bakhshi,, Managing Director & CEO

Mr. S Gopalakrishnan, Head Investments

Mr. Rakesh Jain, Head-Finance & Accounts

Mr. Liyaquat Khan, Appointed Actuary

Audit Committee

Investment Committee

Board Governance Committee

49

Ms. Kalpana Morparia, Chairperson

Mr. Chandran Ratnaswami, Director

Mr. H. N. Sinor, Director

Retail Segment of ICICI Lombard General Insurance :

ICICI Lombard's Retail Segment consists of personal insurance products - Health,
Home, Motor and Travel insurances.
Health Insurance
ICICI Lombard is known to be a pioneer in introducing innovative concepts in the Indian
health Insurance sector. Be it the floater concept, the critical illness cover or the tax gain
policy, all these were first introduced by ICICI Lombard. It was also one of the first
general insurance companies in India to have a robust online system in place for buying
and renewing policies.
The various plans offered by ICICI Lombard include Family Floater Plan - where one
policy covers the entire family, Health Advantage Plus - where they cover OPD and dental
expenses, also help save maximum tax under section 80D and Critical Illness plan - a
special policy covering a list of critical illnesses. They also have a basic Personal Accident
Plan which covers against accidents. ICICI Lombard health plans also provide coverage
against terrorism.
Home Insurance
Home Insurance is actually one of the most neglected areas in the general insurance
category. Simply, because people in general, especially in India, do not give much
importance to it. However, in the recent years, due to the increase in awareness, and the
great extent of damage caused to property due to natural calamities and terrorism, it has
been gaining importance. The Home Insurance Policyoffered by ICICI Lombard covers
both the structure and the contents of the house. You can opt for either of the covers or
both. Unlike other policies, it also covers damage due to terrorist activities, loss of cash,
public liability, temporary resettlement and others.
Motor Insurance
As Motor Insurance is mandatory in India and is governed by the Motor Tariff Act, the
policies offered by various companies are more or less the same. There is not much room
for innovation in this category. ICICI Lombard too offers Car Insurance and Two Wheeler
Insurance. They are known to offer one of the best rates in the market. As the entire buying
process is online and is instant, without any submission of documents or other formalities,
people generally opt it for convenience.
Travel Insurance
50

Travel insurance is one of the most prominent sector of general insurance, especially
overseas travel insurance and student medical insurance. ICICI Lombard offers various
options in both the categories. The Overseas Travel Plans and Student Medical
Plans offered cover medical and non-medical expenses, including compensation for flights
hijacked and pre existing diseases in case of emergency. They charge on a per day basis if
the travel is more than 7 days. ICICI Lombard has tied up with United Health Group to
facilitate access to all its clinics while in U.S.
The Student Medical Plans are accepted in almost universities worldwide. They also have a
section in their website, University Search, where one can find specific plans for specific
universities.
All the above retail policies can be bought online, without any documentation through their
website www.icicilombard.com .One can not only buy, but also manage and renew their
insurance policies online.

NRI Services
ICICI Lombard has developed insurance policies for Non-resident Indians that can be
bought, renewed and tracked online.
Parents' Health Insurance covers hospitalization and medical expenses incurred by parents
of the policyholder in India. For parents' travelling outside India, ICICI Lombard offers a
Parents' Overseas Travel Insurance policy.
An NRI can insure his children/ dependents travelling abroad to study, under the Student
Medical Insurance plan. Likewise, the Home Insurance and Car Insurance schemes enables
an NRI to secure his assets in India.

Channels
Channel is the term used for the various approaches a company uses to tap its customers.
ICICI Lombard uses a multi channel approach to ensure the sales, service and other allied
activities are carried out in the most effective manner.

Retail
The Retail channel consists of sales executves, sales officers, brokers and agents. They are
the one who are in direct contact with the customers and bring the innovative insurance
solutions to their doorsteps.

51

Online
ICICI Lombard has developed a web-based system to meet all the pre and post-policy
transaction. One can get quotes, buy, renew and track their policies onlin e through the
website [www.icicilombard.com]. With the do-it-yourself architecture, the online channel
is fast, convenient, easy to understand and operate.

ICICI VENTURE
ICICI Venture is the largest and one of the most successful private equity and Venture
capital management companies in India with aggregate funds under Management in excess
of USD 2 billion. ICICI Venture is a subsidiary of ICICI Bank, Indias second-largest bank
with total assets of about US$ 56.3 bn (March 31, 2006) and market capitalization of about
USD 10.8 bn (June 2006).
Over the years, ICICI Venture has built an enviable portfolio of companies in the
sectors of information technology, pharmaceuticals, biotechnology, media and retail
thereby delivering value consistently to its investors.

52

ICICI Venture has the distinction of managing a large number of exits in the Country.
With over 100 liquidity events, the organization has reaped rich Experience and is well
positioned to handle IPOs, strategic sale and/or mergers.
ICICI Venture has a wide network of third party investors, which include Domestic
investors such as public sector banks, financial institutions and Insurance companies. A
significant portion of the funds corpus is also from International development financial
institutions and international funds.
The company has over 40 qualified professionals with experience across sectors and
functions. The capabilities of the team, structure of the organization, Emphasis on value
creation and performance evaluation matrices enable ICICI Venture to extract superior
returns from its investments.

ICICI SECURITIES Indias Leading Investment Bank

ICICI Securities Limited is Indias leading full service investment bank with a Dominant
position in all segments of its operations - Corporate Finance, Fixed Income and Equities.
It is a subsidiary of ICICI Bank, the largest private sector bank in India and operates out of
Mumbai with offices in New Delhi, Chennai, Kolkata, New York, London and Singapore.
Under the able leadership of Mr.S.Mukherji, Managing Director and CEO, ICICI
Securities continues to grow as reflected in its performance over the past couple of years.
The Corporate Finance team has consistently been among the top players in M&As and
fund raising from domestic and international capital markets. The Equities team is a major
Indian brokerage house and its research covers over 90% of Sensex market capitalization.
The bond research of the Fixed Income team is a benchmark for the industry.
The eminent position of ICICI Securities is reflected in the number of awards that our
teams in the Fixed Income, M&A and Equity Capital Markets win. Our Fixed Income team
for the last two years (CY04 and CY05) has been adjudged as the Best Bond House in
India by both Asia money and Finance Asia. The Equities team was adjudged as the Best
Indian Brokerage House-2003 by Asia money. The Corporate Finance team tops the

53

M&A/Capital markets league tables regularly. Our wholly owned subsidiary, ICICI
Brokerage Services Limited (IBSL), buys and sells equities for our institutional clients.
ICICI Securities has a U.S. subsidiary, ICICI Securities Inc., which is a member of the
National Association of Securities Dealers, Inc. (NASD). As a result of this membership,
ICICI Securities Inc. can engage in permitted activities in the U.S. securities markets.
These activities include dealing in securities markets transactions in the United States and
providing research and investment advice to US investors.
ICICI Securities Inc. is also registered with the Financial Services Authority, UK (FSA)
and the Monetary Authority of Singapore (MAS) to carry out Corporate Advisory Services

PRUDENTIAL ICICI
Prudential ICICI Asset Management Company enjoys the strong parentage of Prudential
plc, one of UK's largest players in the insurance & fund management sectors and ICICI
Bank, a well-known and trusted name in financial services in India. Prudential ICICI Asset
Management Company, in a span of just over eight years, has forged a position of preeminence in the Indian Mutual Fund industry as one of the largest asset management
companies in the country with assets under management of Rs. 23559.60 crores (as of
March 31, 2006). The Company manages a comprehensive range of schemes to meet the
varying investment needs of its investors spread across 68 cities in the country.

PRUDENTIAL LIFE INSURANCE

India's Number One private life insurer, ICICI Prudential Life Insurance Company is a
joint venture between ICICI Bank-one of India's foremost financial services companiesand Prudential plc- a leading international financial services group headquartered in the

54

United Kingdom. Total capital infusion stands at Rs. 15.85 billion, with ICICI Bank
holding a stake of 74% and Prudential plc holding 26%.
We began our operations in December 2000 after receiving approval from Insurance
Regulatory Development Authority (IRDA). Today, our nation-wide team comprises nearly
120,000 insurance advisors, 18 banc assurance partners and 200 corporate agent tie-ups.
ICICI Prudential was the first life insurer in India to receive a National Insurer Financial
Strength rating of AAA (Industry) from Fitch ratings. For three years in a row, ICICI
Prudential has been voted as India's Most Trusted Private Life Insurer, by The Economic
Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'. As we grow our
distribution, product range and customer base, we continue to tirelessly uphold our
commitment to deliver world-class financial solutions to customers all over India.
ICICI Prudential life Insurance Company Limited was incorporated on 20th July 2000.The
authorized capital of the company is Rs.2300 million and the paid up capital is Rs.1500
million. The company is joint venture of ICICI (74%) and UK based company Prudential
Plc (26%). The company was granted certificate of registration for carrying business, by
Insurance Regulatory and Development Authority on 24th November 2000. It commenced
commercial operation from 19th December 2000 and becoming a leading private sector life
insurance company.
The company recognizes that the driving force for gaining sustainable competitive
advantage in this business is superior customer experience and investment behind the
brand. The company aims to achieve this by striving to provide world class service level
trough constant innovation in product, distribution channels and technology based delivery.
Vision and Mission
Their vision is to make ICICI Prudential Life Insurance Company the dominant new
insurer in the life insurance industry. This they hope to achieve through their commitment
to excellence, focus on service, speed and innovation, and leveraging our technological
expertise.
The success of the organisation will be founded on its strong focus on values and clarity of
purpose. These include:
55

Understanding the needs of customers and offering them superior products and

service

Building long lasting relationships with their partners

Providing an enabling environment to foster growth and learning for their

employees

And above all building transparency in all our dealings.They believe that they can play a
significant role in redefining and reshaping the sector. Given the quality of their parentage
and the commitment of their team, they feel that tere will be no limits to their growth.
Corporate Office:
ICCI Prulife Towers,
1089, Appasahab Marathe Marg,
Prabhadevi,
Mumbai 400 025.
Telephone Number: 022-462 1600
Website : www.iciciprulife.com

ICICI LOMBARD
ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between
ICICI Bank Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited.
ICICI Bank is India's second largest bank, while Fairfax Financial Holdings is a diversified
financial corporate engaged in general insurance, reinsurance, insurance claims
management and investment management. Lombard Canada Ltd, a group company of
Fairfax Financial Holdings Limited, is one of Canada's oldest property and casualty
insurers. ICICI Lombard General Insurance Company received regulatory approvals to
commence general insurance business in August 2001.

ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between
ICICI Bank Limited and Canada based Fairfax Financial Holdings Limited. ICICI Bank is
India's second largest bank, while Fairfax Financial Holdings is a diversified financial
56

corporate engaged in general insurance, reinsurance, insurance claims management

and Investment management. Lombard Canada Ltd, a group company of Fairfax Financial
Holdings Limited, is one of Canada's oldest property and casualty insurers. ICICI Lombard
General Insurance Company received regulatory approvals to commence general insurance
business in August 2000.

Retail Segment of ICICI Lombard General Insurance :

ICICI Lombard's Retail Segment consists of personal insurance products - Health,
Home, Motor and Travel insurances.
Health Insurance
ICICI Lombard is known to be a pioneer in introducing innovative concepts in the Indian
health Insurance sector. Be it the floater concept, the critical illness cover or the tax gain
policy, all these were first introduced by ICICI Lombard. It was also one of the first
general insurance companies in India to have a robust online system in place for buying
and renewing policies.
The various plans offered by ICICI Lombard include Family Floater Plan - where one
policy covers the entire family, Health Advantage Plus - where they cover OPD and dental
expenses, also help save maximum tax under section 80D and Critical Illness plan - a
special policy covering a list of critical illnesses. They also have a basic Personal Accident
Plan which covers against accidents. ICICI Lombard health plans also provide coverage
against terrorism.
Home Insurance
Home Insurance is actually one of the most neglected areas in the general insurance
category. Simply, because people in general, especially in India, do not give much
importance to it. However, in the recent years, due to the increase in awareness, and the
great extent of damage caused to property due to natural calamities and terrorism, it has
been gaining importance. The Home Insurance Policyoffered by ICICI Lombard covers
both the structure and the contents of the house. You can opt for either of the covers or

57

both. Unlike other policies, it also covers damage due to terrorist activities, loss of cash,
public liability, temporary resettlement and others.
Motor Insurance
As Motor Insurance is mandatory in India and is governed by the Motor Tariff Act, the
policies offered by various companies are more or less the same. There is not much room
for innovation in this category. ICICI Lombard too offers Car Insurance and Two Wheeler
Insurance. They are known to offer one of the best rates in the market. As the entire buying
process is online and is instant, without any submission of documents or other formalities,
people generally opt it for convenience.
Travel Insurance
Travel insurance is one of the most prominent sector of general insurance, especially
overseas travel insurance and student medical insurance. ICICI Lombard offers various
options in both the categories. The Overseas Travel Plans and Student Medical
Plans offered cover medical and non-medical expenses, including compensation for flights
hijacked and pre existing diseases in case of emergency. They charge on a per day basis if
the travel is more than 7 days. ICICI Lombard has tied up with United Health Group to
facilitate access to all its clinics while in U.S.
The Student Medical Plans are accepted in almost universities worldwide. They also have a
section in their website, University Search, where one can find specific plans for specific
universities.
All the above retail policies can be bought online, without any documentation through their
website www.icicilombard.com .One can not only buy, but also manage and renew their
insurance policies online.

NRI Services
ICICI Lombard has developed insurance policies for Non-resident Indians that can be
bought, renewed and tracked online.
Parents' Health Insurance covers hospitalization and medical expenses incurred by parents
of the policyholder in India. For parents' travelling outside India, ICICI Lombard offers a
Parents' Overseas Travel Insurance policy.

58

An NRI can insure his children/ dependents travelling abroad to study, under the Student
Medical Insurance plan. Likewise, the Home Insurance and Car Insurance schemes enables
an NRI to secure his assets in India.

Channels
Channel is the term used for the various approaches a company uses to tap its customers.
ICICI Lombard uses a multi channel approach to ensure the sales, service and other allied
activities are carried out in the most effective manner.

Retail
The Retail channel consists of sales executves, sales officers, brokers and agents. They are
the one who are in direct contact with the customers and bring the innovative insurance
solutions to their doorsteps.

Online
ICICI Lombard has developed a web-based system to meet all the pre and post-policy
transaction. One can get quotes, buy, renew and track their policies online through the
website [www.icicilombard.com]. With the do-it-yourself architecture, the online channel
is fast, convenient, easy to understand and operate.

Technology Used in ICICI Bank

In the era of globalization each and every sector faced the stiff competition from their
rivals. And world also converted into the flat from the globe.

After the policy of

liberalization and RBI initiatives to take the step for the private sector banks, more and
more changes are taking the part into it.
private sector banks and public sector bank.

59

And there are create competition between the

Private sector banks are today used the latest technology for the different transaction
of day to day banking life. As we know that Information Technology plays the vital
role in the each and every industries and gives the optimum return from the limited
resources. Banks are service industries and today IT gives the innovative Technology
application to Banking industries. ICICI BANK is the leader in the industries and today
IT and ICICI BANK together combined they reached the sky. New technology changed
the mind of the customers and changed the queue concept from the history banking
transaction. Today there are different channels are available for the banking transactions.

We can see that the how technology gives the best results in the below diagram. There are
drastically changes seen in the use of Internet banking, in a year 2001 (2%) and in the year
2008 (25%).
These type of technology gives the freedom to retail customers.
Centralized Processing Units

Derived Economies of Scale

Electronic Straight Through Processing

Reduced Transaction Cost

Data Warehousing , CRM

Improve cost efficiency, Cross sell

Innovative Technology Application

Provide new or superior products

The countrys middle class accounts for over 320 million people. In correlation with the
growth of the economy, rising income levels, increased standard of living, and affordability
of banking products are promising factors for continued expansion.

ICICI Bank Product & Customer Segment:

PERSONAL BANKING

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Loan Product

Auto Loan
Loan
Against
Security
Loan
Against
Property
Personal loan
Credit card
2-wheeler loan
Commercial
vehicles finance
Home loans
Retail
business
banking
Tractor loan
Working
Capital
Finance
Construction
Equipment Finance
Health
Care
Finance
Education Loan
Gold Loan
Cards

Credit Card
Debit Card
Prepaid Card

-------------------------------Forex Services
------------------------------- Product & Services
Trade Services
Forex service
Branch Locater
RBI Guidelines

Deposit Product

Saving a/c
Current a/c
Fixed deposit
Demat a/c
Safe
Deposit
Lockers

Payment Services

NetSafe
Merchant
Prepaid Refill
Billpay
Visa Billpay
InstaPay
DirectPay
VisaMoney
Transfer
eMonies
Electronic Funds
Transfer
Online Payment of
Direct Tax

WHOLESALE BANKING
61

Investment & Insurance

Mutual Fund
Bonds
Knowledge Centre
Insurance
General
and
Health
Insurance
Equity and Derivatives
Mudra Gold Bar

Access To Bank
NetBanking
OneView
InstaAlert
MobileBanking
ATM
Phone Banking
Email Statements
Branch Network

Corporate

Funded Services
Non
Funded
Services
Value
Added
Services
Internet Banking

Small and Medium

Enterprises

Financial Institutions and

Trusts

Funded Services
Non Funded Services
Specialized Services
Value added services
Internet Banking

BANKS
Clearing Sub-Membership
RTGS submembership
Fund Transfer
ATM Tie-ups
Corporate Salary a/c
Tax Collection
Financial Institutions
Mutual Funds
Stock Brokers
Insurance Companies
Commodities Business
Trusts

NRI SERVICES
Accounts & Deposits

Rupee Saving a/c

Rupee Current a/c
Rupee Fixed Deposits
Foreign Currency Deposits
Accounts for Returning Indians

Remittances

North America
UK
Europe
South East Asia
Middle East
Africa
Others
Quick remit
IndiaLink
Cheque LockBox
Telegraphic/ Wire Transfer
Funds Transfer Cheques/DDs/TCs

Investment & Insurances

62

Mutual Funds
Insurance

Loans

Home Loans
Loans Against Securities

Private Banking
Portfolio Investment Scheme

Loans Against Deposits

Gold Credit Card

Payment Services

NetSafe
BillPay
InstaPay
DirectPay
Visa Money
Online Donation

Access To Bank

NetBanking
OneView
InstaAlert
ATM
PhoneBanking
Email Statements
Branch Network

PRODUCT PROFILE

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ICICI Bank offers wide variety of Deposit Products to suit your requirements. Coupled
with convenience of networked branches/ ATMs and facility of E-channels like Internet
and Mobile Banking, ICICI Bank brings banking at your doorstep. Select any of our
deposit products and provide your details online and our representative will contact you for
Account Opening.

SAVING ACCOUNTS

ICICI Bank offers you a power packed Savings Account with a host of
convenient features and banking channels to transact through. So now you can bank at
your convenience, without the stress of waiting in queues

64

SENIOR CITIZEN SERVICES

We understand that as you reach the age to retire, you do have certain
concerns whether your hard earned money is safe and secure
whether your investments give you the kind of returns that you need.
That's why we have an ideal Banking Service for those who are 60 years
and above. The Senior Citizen Services from ICICI Bank has several advantages that are
tailored to bring more convenience and enjoyment in your life.
YOUNG STARS
It's really important to help children learn the value of finances and
money management at an early age. Banking is a serious business, but
we make banking a pleasure and at the same time children learn how to
manage their personal finances.

FIXED DEPOSITS
Safety, Flexibility, Liquidity and Returns!!!! A combination of
unbeatable features of the Fixed Deposit from ICICI Bank.

RECURRING DEPOSITS
When expenses are high, you may not have adequate funds to make big investments. But
simply going ahead without saving for the future is not an option for you.
Through ICICI Bank Recurring Deposit you can invest small amounts of money
every month that ends up with a large saving on maturity. So you enjoy twin
advantages- affordability and higher earnings

65

HOME LOAN
The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans
offers some unbeatable benefits to its customers - Doorstep Service,
Simplified Documentation and Guidance throughout the Process. It's really
easy!

PERSONAL LOANS
If you're looking for a personal loan that's easy to get, your search ends here.
ICICI Bank Personal Loans are easy to get and absolutely hassle free. With
minimum documentation you can now secure a loan for an amount up to Rs.
15 lakhs

CAR LOAN
The NO 1 financier for car loans in the country. Network of more than
1500 channel partners in over 780 locations. Tie-ups with all leading
automobile manufacturers to ensure the best deals. Flexible schemes &
quick processing. Hassle-free application process on the click of a mouse.

COMMERCIAL VEHICLE LOANS

Range of services on existing loans & extended products like funding of
new vehicles, refinance on used vehicles, balance transfer on high cost
loans, top up on existing loans, Extend product, working capital loans &
other banking products.

66

TWO WHEELER LOANS

Avail attractive schemes at competitive interest rates from the No 1
Financier for Two Wheeler Loans in the country. Finance facility up to
90% of the On Road Cost of the vehicle, repayable in convenient
repayment options and comfortable tenors from 6 months to 36 months. Ride home on
your Dream Two Wheeler with our hassle free finance.

FARM EQUIPMENT LOANS

Preferred financier for almost all leading tractor manufacturers in the
country. Flexible repayment options in tandem with the farmer's seasonal
liquidity. Monthly, Quarterly and Half-yearly repayment patterns to choose
from. Comfortable repayment tenures from 1 year to 9 year
CREDIT CARDS
ICICI Bank Credit Cards give you the facility of cash, convenience and a
range of benefits, anywhere in the world. These benefits range from life
time free cards, Insurance benefits, global emergency assistance service,
discounts, utility payments, travel discounts and much more.

DEBIT CARDS
The ICICI Bank Debit Card is a revolutionary form of cash that allows
customers to access their bank account around the clock, around the world.
The ICICI Bank Debit Card can be used for shopping at more than
100,000 merchants in India and 13 million merchants worldwide.

TRAVEL CARD

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Presenting ICICI Bank Travel Card. The Hassle Free way to Travel the
world. Traveling with US Dollar, Euro, Pound Sterling or Swiss Francs;
Looking for security and convenience; take ICICI Bank Travel Card.
Issued in duplicate. Offers the Pin based security. Has the convenience of usage of Credit
or Debit card.

PRE PAID CARDS

ICICI Bank brings to you a complete bouquet of pre-paid cards providing
payment solutions at your fingertips. ICICI Bank pre-paid cards are a safe
& convenient way for associate payments, disbursements, gifting & small
ticket transactions. Pre-paid cards are available on a VISA platform thus providing
accessibility to over one lakh merchant establishments & cash withdrawal from all VISA
ATMs in India.
Investments
s
At ICICI Bank, we care about all
your needs. Along with Deposit
products and Loan offerings, ICICI Bank assists you to manage your finances by providing
various investment options ranging from ICICI Bank Tax Saving Bonds to Equity
Investments through Initial Public Offers and Investment in Pure Gold. ICICI Bank
facilitates following investment products:

68

ICICI Bank Tax Saving Bonds

Government of India Bonds
Investment in Mutual Funds
Initial Public Offers by Corporate

Investment in "Pure Gold"

Foreign Exchange Services
Senior Citizens Savings Scheme, 2004

You can invest in above products through any of our branches. For select products ICICI
Bank also provides the ease of investing through electronic channels like ATMs and
Internet (ICICIdirect.com)
ICICI Bank Bonds

All ICICI Bank Bonds have been rated "AAA" by CARE and "LAAA" by

ICRA indicating the highest degree of safety for your money

All Investment in ICICI Bank Tax Saving Bonds issued up to March 2005

are eligible for tax rebate under Sec 88 to the full extent possible
Bonds are listed on BSE, NSE

GOI Bonds

8% Savings Bonds (Taxable), 2003 Low risk.

Reasonable investment tenure.
Nomination facility available.
Cannot be traded in secondary market.
Interest income taxable.

Mutual Funds
Mutual Funds pool money of various investors to purchase a wide variety of securities
while pursuing a specific goal. Selection of Securities for the purpose is done by specialists
from the field. Returns generated are distributed to the Investors. Mutual Fund Companies
offer various schemes. Investors can choose any particular Fund/Scheme or mix of
Funds/Schemes depending upon their perception towards risk. Investment is done on the
basis of prevailing Net Asset Values of various schemes. Mutual Funds Investments are
subject to Market Risks.
Types of Funds Sold
We will help you determine which types of funds you need to meet your investment goals.
This may include the following types of funds:

69

Debt: Liquid schemes, Income schemes, G-sec schemes, Monthly Income Schemes
etc.
Equity: Diversified Equity Schemes, Sector Schemes, Index Schemes etc.
Hybrid Funds: Balanced Schemes, Special Schemes - Pension Schemes, Child
education Schemes etc.

At ICICI Bank we will help you identify an appropriate mix of Mutual Fund schemes for
your portfolio using asset allocation strategies. Through ICICI Bank you can invest in
various schemes of multiple mutual funds with decent performance record. You can take
the aid of our various research reports on mutual funds and their schemes before choosing
a scheme for investment. ICICI Bank offers investment in Mutual Funds through Multiple
Channels. With ICICI Bank, you can invest in Mutual Funds through following channels.

ICICI Bank Branches

ICICIdirect.com
Dedicated workforce to serve you
Before being deputed, our officers complete a comprehensive training
program and, once deputed, they receive thorough instructions in financial
planning skills and techniques. Throughout their careers officers also attend

programs to update their skills.

All officers in charge of Mutual Funds are certified professionals by AMFI

(Association of Mutual Funds in India)

Many of these officers also hold professional degrees like - MBA, CA,
ICWA, and CFA etc.

IPO:
You can invest in IPOs online through www.icicidirect.com with same convenience of
investing in equities - hassle-free and with zero paper work. Also, get in-depth analyses of
new IPOs issues (Initial Public Offerings) which are about to hit the market. IPO calendar,
recent IPO listings, prospectus/offer documents and live prices will help you keep on top of
the IPO markets.
ICICI Bank Pure Gold
Gold has been traditionally the most favored form of investment for Indians. In fact, India,
even today is amongst the highest consumers of Gold in the world. However, the Gold
market remains largely unorganized with reliability and convenience remaining the key
70

issues for gold buyers in the country.ICICI Bank with its `Pure Gold' offer attempts to
bridge the gap between the need of the customers for buying gold and availability of an
organized avenue to satisfy that need, by taking care of the two key components
Reliability and Convenience. Reliability 24 Carat ICICI Bank Pure Gold is imported from
Switzerland. This Gold carries a 99.99% Assay Certification, signifying highest level of
purity, as per international standards.
Convenience
ICICI Bank Pure Gold is competitively priced based on daily prices in the international
bullion market. Currently, gold is available in 2.5g, 5g, 8g, 20g and 50g categories.
FOREX Services
ICICI Bank's Foreign Exchange Services will help you organize your foreign exchange in
the most hassle free manner. Whether its Foreign Currency, Travelers Cheques or Travel
Card, ICICI Bank Foreign Exchange Services is a one-stop solution to your foreign
exchange requirement.

71

COMPARATIVE CHARTS

72

INTRODUCTION OF IDBI
IDBI is the tenth largest development bank in the world and has promoted worldclass institutions in India.
A few of such institutions built by IDBI are: The National Stock Exchange (NSE)
The National Securities Depository Services Ltd. (NSDL)
Stock Holding Corporation of India (SHCIL) etc.
IDBI is a strategic investor in a plethora of institutions, which have revolutionized the
Indian Financial Markets.
IDBI promoted IDBI bank to mark the formal foray of the IDBI Group into commercial
Banking. This initiative has blossomed into a major success story.
IDBI bank, which began with an equity capital base of Rs.1000 million (Rs.800 million
contributed by IDBI and Rs.200 million by SIDBI), commenced its first branch at Indore
in November 1995. Thereafter in less than seven years the bank has attained a front
ranking position in the Indian Banking Industry.
IDBI bank successfully completed its public issue in February 99, which led to its paid-up
capital expanding to Rs.1400 million. The promoters holding consequent to this public
issue stood reduced to 71% with IDBI holding 57% and SIDBI 14% of the paid up capital
of IDBI Bank. This is in line with the requirement of RBI, which stipulates that eventually
the promoters holding should be brought down to 40%.

73

Introduction of HDFC
The Housing Development Finance Corporation Limited (HDFC) was amongst the first
to receive an in principle approval from the Reserve Bank of India (RBI) to set up a
bank in the private sector, as part of the RBI's liberalization of the Indian Banking
Industry. The bank was incorporated in August 1994 in the name of HDFC Bank
Limited, with its registered office in Mumbai, India. The bank commenced operations
as a Scheduled Commercial Bank in January 1995.

Promoter
HDFC is India's premier housing finance company and enjoys an impeccable track record
in India as well as in international markets.

Business Focus
Bank's mission is to be a World Class Indian Bank. The Bank's aim is to build a sound
customer franchise across distinct businesses so as to be the preferred provider of banking
services in the niche segments that the bank operates in and to achieve healthy growth in
profitability, consistent with the bank's risk appetite.

Capital Structure
The authorized capital of HDFC Bank is Rs.450 crores. The paid-up capital is Rs.281.2
crores. The HDFC Group holds 24.5% of the bank's equity while about 13.3% of the equity
is held by the depository in respect of the bank's issue of American Depository Shares
(ADS/ADR Issue). Times Bank Amalgamation
In a milestone transaction in the Indian banking industry, Times Bank Limited (another
74

new private sector bank promoted by Bennett, Coleman & Co./Times Group) was merged
with HDFC Bank Ltd., effective February 26, 2000

Rating
HDFC Bank's programme for Certificates of Deposits has been rated by the Indian rating
agency Credit Analysis & Research Ltd. (CARE). The CDs are rated PR 1+, which is the
highest rating for short-term instruments indicating superior capacity for repayment.

75

INTRODUCTION OF Standard Chartered

Standard Chartered is the world's leading emerging markets bank. It employs 29,000
people in over 500 offices in more than 50 countries in the Asia Pacific Region, South
Asia, the Middle East, Africa, United Kingdom and the Americas.
The Bank serves both Consumer and Wholesale banking customers. The Consumer Bank
provides credit cards, personal loans, mortgages, deposit taking activity and wealth
management services to individuals and medium sized businesses. The Wholesale Bank
provides services to multinational, regional and domestic corporate and institutional clients
in trade finance, cash management, custody, lending, foreign exchange, interest rate
management and debt capital markets with 150 years in the emerging markets the Bank has
unmatched knowledge and understanding of its customers in its markets.
Standard Chartered recognizes its responsibilities to its staff and to the
communities in which it operates.

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COMPARISON OF ICICI BANK WITH SBI

ICICI bank is the largest private sector bank in India and the second largest commercial
bank in India. It has branches all over India and even in smaller towns in South India after
the takeover of Bank of Madurai. The bank also has foreign subsidiaries like ICICI bank,
Canada in Canada, Britain and Russia ,representative offices in USA, China, UAE,
Bangladesh, South Africa and branches in Bahrain, Singapore .

It offers a platform for online share trading through ICICI Direct and insurance
services - ICICI Prudential. NRI services include money transfer through
Money2India, which offer better foreign exchange rates for lower amounts
compared to other services.

Like most private sector banks, all ICICI bank branches in India are networked.
You can access your account from any ICICI bank branch in India. Anyone can also
deposit cash/local cheque in your account at any branch of ICICI bank.

Also they have very convenient bank timings and are open for 12 hours from 8.00
a.m to 8 p.m from Monday to Saturday. When you deposit a cheque at their branch,
they will readily give you a stamped acknowledgement for deposit. You can only
deposit cash in your own account at the ATM, for depositing cash into a third party
account, you have to visit the branch. You have to select the deposit cash option,
you will get an envelope for depositing cash, which you can then fill in the details
and deposit it back. At locations where ICICI bank does not have a branch, the
queue at the ATMs is very long. Just after office hours , between 6 pm - 7.30 pm,
customers sometimes have to wait for 15-20 minutes on some days, to access the
ATM.

77

Since ICICI bank was established after 1991 it offers online banking where you can
check the balance in your account any time. The interface for savings accounts is
much better and user friendly compared to that for their roaming current account

However, unlike other banks like HDFC bank, their online bank statement does not
indicate the branch at which the amount is deposited. The information is available
in the email statement sent to you the next day. You have to contact phone banking,
enter CRN and TPIN, during working hours to get this information. Very often, the
system is slow, so you have to hold on for 10 minutes.

For savings account, up to 3 cash deposits per quarter (3 months) at the non base
branch can be made at no cost. For additional cash deposits, the bank charges the
recipient Rs 100 (+ service tax) per deposit, irrespective of the amount deposited.
When the bank implemented this change, the ICICI bank customers were not
informed about the revision in the charges. For outstation cheques, ICICI bank
charges a minimum of Rs 30 (+ service tax) for savings accounts . This is very
inconvenient for account holders in small towns, who receive the dividend warrant
payable in major cities only. These warrants can be for small amounts like Rs 20.
For salary accounts, the minimum AQB required is zero and you retain the account
even after you leave the job. If your AQB is more than Rs 100000, you get a free at
par chequebook. For an AQB of more than Rs 500000 (fixed deposit + savings
account balance), you are eligible for private banking services. For non
maintenance of average quarterly balance, not only do they deduct Rs 750 from
your balance, they also deduct an additional service tax.

Many of the ICICI bank customers are salary account holders, who are forced by
their employers to open an account with ICICI bank to receive their salary. The
account is opened at a branch which is convenient for the employer, but extremely
inconvenient for the employee. If want any clarification or information, their
customer support (through phone banking or email) will instruct you visit the

78

nearest branch - where the concerned person may or may not be available. For
savings account customers if you send an email asking for clarifications, it is
usually answered after a week.

They have discontinued the auto sweep-in facility (earlier called Quantum Optima),
where the amount in savings accounts was automatically converted into a fixed
deposit, if it exceeded Rs 15000. With the decline in interest rates for loans,
providing this facility is no longer profitable for the bank. You now have to give an
application at the branch if you wish to continue with this facility now. The form
for making the application was sent along with the monthly bank statement. You
can alternately open a recurring deposit, where a fixed amount is added to your
fixed deposit every month.

Making a new Fixed Deposit with ICICI bank for current accounts is extremely
time consuming, especially when compared to HDFC bank. They will insist that
you withdraw cash from your account for making the FD. Since withdrawals of
amounts more than Rs 25000 are subject to cash withdrawal tax, for larger amounts
, you will have to split the fixed deposit and visit the branch on 2 different days.
ICICI bank is probably the only bank in India where they will not accept a ICICI
bank cheque for making a fixed deposit. We had given a cheque with the fixed
deposit form , but the bank officer insisted that we pay cash. She said she would fill
the form for us, but she did not select the options which were initially indicated,
causing further problems for us.

(SBI) is the largest public sector bank in India

SBI has branches and ATMs all over India, details of which are available at their
website. State Bank of Hyderabad, State Bank of Patiala, State Bank of
Saurashtra, State Bank of Bikaner and Jaipur ,State Bank of Indore, State Bank of
Mysore and State Bank of Travancore are the seven subsidary banks of SBI. As of

79

March 2006, SBI holding in these banks varies from 74% to 100% , but is likely to
decrease in future. SBI has one of the largest network of ATMs in the Asia Pacific
region. Many branches of State Bank of India are computerized. In places where
the Reserve Bank of India, (RBI) the central bank of India does have an office, SBI
carries out many of its functions. SBI timings vary according to location, for
example the Powai, Mumbai branch of State Bank of India is open between 10.15
am to 2pm (Monday-Friday

You can open a public provident fund (PPF) account at any State Bank of India
branch. PPF accounts are one of the few savings instruments which offer a high tax
free interest rate of 8% per year. All deposits made on or before 5th of a month
earn interest for the entire month. If you deposit a cheque in your PPF account on
the 5th of the month, you will get interest for the month, though your account may
be debited at a later date. The interest is credited to the account at the end of the
accounting year in India.

If you know an agent who is registered with that particular branch of State Bank ,
he will pay you back, a part of the commission he receives from the bank. So you
can get back 0.5% - 0.6% of the amount deposited immediately by cash. Usually
larger the amount, the higher the commission paid back by the agent (it is
negotiable) . The pay-in slip for PPF has 3 sections - depositors copy, agents copy
and bank copy. The agents copy has to be given to the agent and he will give part of
the commission. Earlier financial services firm like Blue-chip in Mumbai, would
also give a commission of 0.25% , but they have stopped in the last 2 years.

The minimum amount that can be invested in one year is Rs 500 and maximum
amount is Rs 70000. This investment has a lock in period of 15 years. No
withdrawals are allow till 6 years after account opening and one withdrawal is
allowed per year there after. It offers rebate under section 80C and the interest is tax
free under section 10C.

80

For cash withdrawals, you can either use a withdrawal slip or cheque. If an account
is inactive for a long time, State Bank of India does not charge any fee for
reactivation. However, they have a verification process, which may take a long
time. Payment of income tax, advance tax, sales tax can be done at SBI branches.
Foreign currency drafts can also be obtained at the branches. Since SBI offers
a variety of banking services, their branches are usually very crowded.

State Bank of India has increase home loan interest rates by 25-75 basis points.
Also no fixed rate loans will be available for periods more than 10 years. These
changes have come into effect from March 1, 2006.

SBI Railway Visa Card allows booking of railway tickets online at the Indian
Railways website at zero transaction charges. Users of this credit card can get back
up to 10% of ticket fare as railway points. These points can be redeemed later, like
frequent flyer miles offered by airlines. State Bank of India is the largest issuer of
debit cards (Maestro) in India

State Bank customers who have to wait a long time to process a bank transaction
can register their complaint through a touch screen device for customer feedback
service at the branch. The information is recorded and processed in the central
server. As of March 2006, it is implemented in 10 branches of SBI in Mumbai.
When SBI employees go on strike, the Reserve Bank of India takes over all
clearing operations. However, banking operations are affected since SBI has nearly
30% of the total customers of banks in India. Cheques/DD drawn on SBI was not
cleared due to the strike. All government taxes like income tax, sales tax, service
tax can be paid at any branch of SBI.

State Bank of India has 52 foreign offices in 34 countries including Australia, UK,
USA, Canada, Bahrain, Nigeria, Bangladesh, Nepal, and Bhutan Sri Lanka. These
are useful for foreign trade transactions like opening of Letter of Credit

81

COMPETITIVE SWOT ANALYSIS WITH ICICI BANK

O
P
P
O
R
T
U
N
I
T
I
E
S

STRENGTHS

WEAKNESSES

S O Strategies

W O Strategies

Strength: Large Capital base.

Opportunity: Market Expansion.
Strategy: Deep Penetration into
Rural Market.

S T Strategies
T
H
R
E
A
T
S

82

Weakness: Workforce
Responsiveness.
Opportunity: Outsourcing of Non
Core Business.
Strategy: Outsource Customer
Care & other E-Helps.
W T Strategies

Strength: Low operating costs

Weakness: Not Equal to

International Standards.

Threat: Increased Competition

from others Pvt. Banks.

Threat: Entry of many Foreign

Banks.

Strategy: Steps to Ensure

Loyalty by old
Customers.

Strategy: Consider additional

benefits

EVALUATION AND ANALYSIS

83

Introduction to SWOT Analysis.

The overall evaluation of the companys Strength, Weakness, Opportunities and Threats is
called as SWOT Analysis.
The external environment analysis of any business will give you the opportunities and
threats facing the business. The external environment consists of two parts:
1) Macro Environment: Demographic, Economic, Technology, Political-legal,
Socio-cultural
2) Micro Environment: Customers, Competition, Distributors, Suppliers.
The Internal Environment Analysis will give you the strength and weakness of the
business.

WEAKNESSES

STRENGTH

Right strategy for the right

products.

sectors.

Superior customer service vs.

Great Brand Image

Products

have

required

accreditations.

84

High

Customer

service

staff

need

training.

competitors.

Some gaps in range for certain

degree

Processes and systems, etc

Management cover insufficient.

of

customer

Sectoral growth is
constrained by low
unemployment levels and

competition for staff

satisfaction.

Good place to work

Lower

response

time

with

efficient and effective service.

Dedicated workforce aiming at

making a long-term career in
the field.

Opportunities

Threats

Profit margins will be good.

Legislation could impact.

Could extend to overseas broadly.

Great risk involved

New specialist applications.

Very high competition prevailing in

Could seek better customer deals.

Fast-track

career

development

the industry.

opportunities on an industry-wide
basis.
An applied research centre to create
opportunities for developing
techniques to provide added-value
services.

85

Vulnerable to reactive
attack by major competitors

Lack of infrastructure in rural areas

could constrain investment.

High volume/low cost market is

intensely competitive.

Opportunity Matrix
A Marketing opportunity is an area of interest in which a company can perform profitably.
An opportunity can take many forms. Some of them are:
1) Buying process made easy- Internet shopping
2) Meet the information needs of the customers in a better way.
3) A company can customize the product which was originally offered in standard form.

86

The opportunities that fall under the first quadrant are higher on the side of success
probability and also on the attractiveness, so the company should tap those opportunities as
early as possible. The opportunities falling under the second quadrant should be tapped
only after the success of the opportunities in the first quadrant. Although the success
probability is on the lower side still the attractiveness is on the higher side. The
opportunities in the third quadrant are less important as compared to the opportunities in
87

the first and second quadrant. Although the attractiveness is on the lower side but the
success probabilities of these opportunities are on the higher side.
The opportunities in the fourth quadrant are negligible as the success probability and
attractiveness both are on the lower side

88

Threat Matrix.
An Environmental Threat is a challenge posed by an unfavourable trend or development.
In the absence of any defensive marketing action these threats may lead to deterioration in
sales and indirectly in the profits of the company.

The Threats falling under the first quadrant are harmful to the progress of the firm.
Their occurrence probability and also the seriousness is on the higher side. Therefore the
company should take immediate actions against these threats.
The Threats falling under the second quadrant are also very harmful as their seriousness of
these threats is on the higher side, although the probability occurrence is on the lower side.
The Threats coming under the third quadrant are less serious as compared to the threats in
the first and second quadrant. The company should keep a backup plans for these threats as
this can also affect the profitability of the company.
The Threats under the fourth quadrant are negligible as the probability occurrence and
seriousness both are on the lower side of the matrix.

89

STRENGHTS
1) Online Services: ICICI Bank provides online services of all its banking facilities. It
also provides D-Mart account facilities on-line, so a person can access his account from
anywhere he is.
[D-Mart is a dematerialized account opened by a salaried person

for purchase &

sale of shares of different companies.]

2) Advanced Infrastructure: Branches of ICICI Bank are well equipped with advanced
technology to provide the customers with taster banking services. All the computerized
machines are located in suitable manner & are very useful to the customers & staff of the
bank.
3) Friendly Staff: The staff of ICICI Bank in all branches is very friendly & help the
customers in all cases. They provide faster services along with bonding & personal
relationship with the customers.
4) 12 hrs. Banking services: Compared to other bank ICICI bank provides long hrs. of
services i.e. 8-8 services to the customers. This service is one of its kind & is very helpful
for the customers who are in urgent need of money.
5) Other Facilities to the Customers & Employees: ICICI Bank also provides other
facilities like drinking water facilities, proper sitting arrangements to the customers. And
there are also proper Ventilation & sanitary facilities for the employees of the bank.
6) Late night ATM services: ICICI bank provides late night ATM services to the
customers. The ATM centers of ICICI bank works even after 11:00pm. at night in certain
branches.

90

Weakness
1) High Bank Service Charges: ICICI bank charges highly to customers for the
services provided by them when compared to other bank & that is why it is only in the
reach of higher class of society.

2) Less Credit Period: ICICI bank provides credit facilities but only upto

limited

period. Even when the credit period is not over it sends reminder letters to the customers
which may annoy them.

OPPORTUNITIES
91

1) Bank Insurance services: The bank should also provide insurance services. That
means the bank can have a tie-up with a insurance company. The bank will advertise &
promote the different policies introduced by the insurance company & convince their
customers to buy insurance policies.

2) Increase in percentage of Returns on increase: The bank should provide higher

returns on deposits in comparison of the present situation. This will also upto large extent
help the bank earn profits & popularity.

3) Recruit professionally guided students: Bank & Insurance is a special non-aid course
where the students specialize in the functioning & services of the bank & also are
knowledge about various tax policies. The bank can recruit these students through tie-ups
with colleges. Such students will surely prove as an asset to the bank.

4) Associate with social cause: The bank can also associate itself with social causes like
providing relief aid patients, funding towards natural calamities. But this falls in the 4th
quadrant so the bank should neglect it.

THREATS
92

1) Competition: ICICI Bank is facing tight competition locally as well as internationally.

Bank like CITI Bank, HSBC, ABM, Standered Chartered, HDFC also provide equivalent
facilities like ICICI do and also ICICI do not have consistency in its international
operation.

2) Net Services: ICICI Bank provides all kind of services on-line. There can be easy
access to the e-mail ids of the customers through wrong people. The confidential
information of the customers can be leaked easily through the e-mail ids.

3) Decentralized Management: Each branch manager is given the authority of taking

decisions in their respective branches. The decisions made by different managers are
diverse and any one wrong decision can laid to heavy losses to the bank.

4) No Proper Facilities to Uneducated customers: ICICI Bank provides all services

through electronic computerized machines. This creates problems to the less educated
people. But this threat falls in the 4th quadrant so its negligible. The company can avoid this
threat.

CUSTOMER SATISFACTION
93

Customer satisfaction is equivalent to making sure that product and service performance
meets customer expectations. It is the perception of the customer that the outcome of a
business transaction is equal to or greater than his/her expectation. Customer satisfaction
occurs when the acquisition of products and /or services provides a minimum negative
departure from expectations when compared with other acquisitions and when the marginal
utility of a transaction is equal to or greater than preceding acquisitions.
Customer satisfaction occurs when the perception of the reward from the purchase of
goods or services by the customer meets or exceeds his/her perceived sacrifice. The
perception is a consequence of matching past purchase and consumption experience.

Customer Service and Satisfaction:

When we talk about customer service and/or satisfaction, we talk about creativity.
Creativity allows us to handle or diffuse problems at hand or later on rather in the process
of conducting the everyday business. We talk about how, or what, does the organization
have to do to gain not only the sale but also the loyalty of the customer. We want to know
the payoff of the transaction both in the short and long term. We want to know what our
customers Want? We want to know if our customers are satisfied. Satisfaction, Of course,
means that what we delivered to a customer met the customers Approval. We want to
know if customers are delighted and willing to come
Back, and so on. Fleiss 2 and Feldman 3 present examples of that delightfulness in their
writings. Fleiss has written about Ben and Jerrys ice cream and Feldman has discussed
excellence in a cab ride. As important as delightfulness is, some of us minimize it, or even
totally disregard it. At this point, we fail. Some of the issues that will guarantee failure in
sales, satisfaction, and loyalty are:

94

Employees must adhere to a rigid chain of command

Employees are closely supervised

Conflictin whatever formis not allowed

Rewards are based on carrot-and-stick principles

Wrong objectives are measure.

We must understand customer expectation levels concerning quality. We must also

understand the strategy for customer service quality, and next we must understand the
measurement and feedback cycles of Customer satisfaction.
The customer is the person or unit receiving the output of a process on the system. In fact,
it is worth emphasizing that a customer can be the immediate, intermediate, or ultimate
customer. Also, a customer may be a person or persons, or a process or processes.
Customer satisfaction, however, is when the customer is satisfied with a product/service
that meets the customers needs, wants, and expectations.
There are at least three levels of customer expectations about quality:

Level 1. Expectations are very simple and take the form of assumptions, must have, or take
it for granted. For example, I expect the airline to be able to take off, fly to my destination,
and land safely. I expect to get the correct blood for my blood transfusion and I expect the
bank to deposit my money to my account and to keep a correct tally for me.
Level 2. Expectations are a step higher than that of level 1 and they require some form of
satisfaction through meeting the requirements and/or specifications. For example, I expect
to be treated courteously by all airline personnel. I went to the hospital expecting to have
my hernia repaired, to be in some pain after it was done, to be out on the same day, and to
receive a correct bill. And I went to the bank expecting the bank teller to be friendly,
informative, and helpful with my transactions.

95

Level 3. Expectations are much higher than for levels 1 and 2. Level 3 requires some kind
of delightfulness or a service that is so good that it attracts me to it. For example, an airline
gives passengers traveling coach class the same superior food service that other airlines
provide only for first-class passengers. In fact, I once took a flight where the flight
attendants actually baked
cookies for us right there on the plane. When I went to the hospital, I expected staff to treat
me with respect and they carefully explained things to me. But I was surprised when they
called me at home the next day to find out how I was doing. And at my house closing, the
bank officer, representing the bank holding my mortgage, not only treated me with respect
and answered all my questions about my new mortgage, but just before we shook hands to
close the deal, he gave me a housewarming gift.

Customer satisfaction surveys help to:

Improve customer, client, or employee loyalty.

React quickly to changes in the market.

Identify and capitalize on opportunities.

Beat the competition.

Retain or gain market share.

Increase revenue.

Reduce costs.

96

COMPANYS EFFORT TO ENSURE SATISFACTION OF

CUSTOMERS:
Objectives of ICICI

Promote good and fair banking practices by setting minimum standards in dealing
with you

Increase transparency so that you can have a better understanding of what you can
reasonably expect of the services;

Encourage market forces, through competition, to achieve higher operating

standards;

Promote a fair and cordial relationship between you and your bank;

Foster confidence in the banking system

To Help You To Understand How Our Financial Products And Services Work
By:

Giving you information about them in any one or more of the following languages:
Hindi, English or the appropriate local language.

Ensuring that our advertising and promotional literature is clear and not misleading

Ensuring that you are given clear information about our products and services, the terms
and conditions and the interest rates/service charges, which apply to them.

Giving you information on what are the benefits to you, how you can avail of the
benefits, what are their financial implications and whom you can contact for addressing
you queries.

To Help You Use Your Account Or Service By:

Providing you regular appropriate updates.

Keeping you informed about changes in the interest rates, charges or terms and
conditions.

Information
You can get information on interest rates, common fees and charges through any one of the
following:

Looking at the notices in our branches ;

Phoning our branches or help-lines;

Looking on our website;

Asking our designated staff/help desk ;or

Referring to the service guide/Tariff Schedule.

Before You Become a Customer we will:

give you clear information explaining the key features of the services and products you
tell us you are interested in;
give you information on any type of products and services which we offer and that may
suit your needs;
tell you if we offer products and services in more than one way [for example, through

ATMs, on the Internet, over the phone, in branches and so on] and tell you how to find
out more about them;
tell you what information we need from you to prove your identity and address, for us to
comply with legal, regulatory and internal policy requirements.

Advertising, Marketing and Sales

We will make sure that all advertising and promotional material is clear, and not
misleading.

In any advertising in any media and promotional literature that draws attention to banking
service or product and includes a reference to an interest rate, we will also indicate
whether other fees and charges will apply and that full details of the relevant terms and
conditions are available on request.

If we avail of the services of third parties for providing support services, we will require
that such third parties handle your personal information (if any available to such third
parties) with the same degree of confidentiality and security as we would.

We may, from time to time, communicate to you various features of our products availed
by you. Information about our other products or promotional offers in respect of our
products/services, will be conveyed to you only if you have given your consent to receive
such information/ service either by mail or by registering for the same on our website or
on our phone banking/customer service number.

We have prescribed a code of conduct for our Direct Selling Agencies (DSAs) whose
services we may avail to market our products/ services which amongst other matters
requires them to identify themselves when they approach you for selling our products
personally or through phone.

In the event of receipt of any complaint from you that our representative/courier or DSA
has engaged in any improper conduct or acted in violation of this Code, we shall take
appropriate steps to investigate and to handle the complaint and to make good the loss.
Privacy and Confidentiality
We will treat all your personal information as private and confidential [even when you
are no longer a customer], and shall be guided by the following principles and policies.

Data Analysis

1. WHICH OF THE FOLLOWING ATTR IBUTES COMPELLED YOU To MOST OPEN

SAVING ACCOUNT IN ANY BANK?

People Like To Open an A/c

ATM

10%
37%

21%
15%

CHEQUE BOOK
Internet Banking
working Hour

17%

Value added Services

2:-Which TYPE OF SERVICE PREFERS THE MOST by you?

services prefer most by customer

5%

10%

15%

ATM
Net Banking
50%

Core Banking
Mobile Banking

20%

3:-Which of following banks do you have account?

Retail Banking

Customer Having Bank A/C

25
20

20

Customer Having Bank

A/C

15
11
10

8
6

0
SBI

ICICI

Axis

Hdfc

Others

4:-WHAT TYPE OF ACCOUNT DO YOU HAVE IN BANK?

Customer Having A/C

60
50

50

40

43
Customer Having A/C

30
20
10
0

12

10
Saving

Current

Fixed Deposit

Others

5:-How many services offered by your banks have been Used By you?

Customer Using Services Offered by Their Bank

50
45

47

40
35
Customer Using Services
Offered by Their Bank

30
25

27

20
15

22

19

10
5
0

Demat A/C Matual Fund E- tasaction

LI & GI

6:-How would you know about these services?

Awareness
Others; 14%
Adtiesment; 36%
Selling agent; 21%

Friends & Relative; 29%

7:-What the people think about the Banks?

People Think About Bank

Security

Saving

Imposition of a burden of expenses

7%

Others

11%
49%

33%

8:-What a respondent see in purchase of new plan from Banks?

Peope See In Perchasing New Plan

Advertisement being released by the company; 18%

Standing and goodwill of the company ; 41%
Services being given by the company; 28%
Product range of the company; 13%

9:-Is ICICI Bank Provide better facilities than SBI & HDFC Bank?

Services
Yes

No

Can`t Say

17%
38%

45%

10:-Do you know what type of value added services provide by ICICI BANKS?

Awareness About Value Add Services

60
50

50

40
30

31

Awareness About Value

Add Services

31

20
10

16

11

11:-How would you rate product offered ICICI Bank than other?
Rating

Very Good
5

Good
4

Moderate
3

Less
2

Product Range
Very Good

Good

13%

Moderate

8%
34%

17%
28%

Less

Poor

Poor
1

12:-How would you rate product service / product vs. cost by ICICI Bank?

Cost
Very High

High

Moderate

11%

Less

14%

30%

45%

13:-How would you divide 100 points on the basis of service provide by ICICI Bank?

Services Provided by Bank

Less formality

Flexibility

Less documentation

others

8%
21%

43%

28%

14:-How would you rate services offered by ICICI Bank?

Satisfaction
Extremely Dissatisfaction; 8%

Extremely Satisfaction; 12%

Dissatisfaction; 26%
Satisfaction; 34%
Moderate; 20%

RECOMMENDATIONS AND
SUGGESTIONS

FINDINGS
1. It was found from the study that bank believes in quality service rather than quantity of
service.
2. The officials employed are very much enthusiastic about their job.
3. The officials try to make best relation with the customers.
4. There is separate counter for NRI services.
5. The limit of cash vault is Rs. 10, 00,000 for a day.
6. The registers and files are maintained on a daily basis.
7. The registers are maintained in a well organized manner.
8. The marketing strategy of the bank is very attractive.
9. The bank always tries to attract customers with innovative offers.
10. The bank is very keen to implement 5's plan in its entire branch.
11. ICICI and SBI credit deposit ratio is on the side though ICICI banks show a little decreasing
trend to the extent of 2.24 % over mar2007 _ mar 2008.
12. Both the bank investment deposit ratio is on the declining trend
13. Both the banks has shown better utilization of cash portfolio
14. ICICI bank Interest expenses to interest earned remains the same Over 2 Years whereas SBI
shows reduction.
15. Other Income ratio remains fluctuation in both the banks.
16. Operating expenses to total income shows a decreasing trend in ICICI bank whereas it was
on the rising side in SBI.
17. Interest income to total funds shows rising mode in ICICI whereas In SBI more or less it
remains at the level; the ratio of interest expenses to total funds shows an increase in Value in
ICICI Bank whereas in SBI interest expenses shows a Rising mode.
18. The ratio of Non Interest income remains the same for ICICI for The past 2 Years whereas in
SBI at shows a decline.
19. The stock witnesses some selling pressure in the coming days in ICICI Bank.
20. The continuation pattern negates immediate bearish momentum on the stock and it's
advisable to buy at declines. Short term investor can initiate a buy above 500 with a target of 560
570.

RECOMMENDATIONS
1. The bank should launch awareness campaign for making various alternate channels of banking
more popular like mobile banking and Internet Banking. Making customers aware of new
schemes and interest rates through e-mail or direct mailer would be a step in this direction.
2. The bank should follow a fierce marketing strategy regarding its telebanking services. At the
same time schemes like Business multiplier, Recurring deposits and Kid-e-bank should be
pursued with an intensive advertising promotion.
3. The bank should devise ways to improve the working of ATMs, as a majority of the
respondents were dissatisfied with the services over ATMs. Also the bank should install more
number of ATMs in the crowded branches and also in other class B cities. Feature of account-toaccount transfer in ATMs (third party transfer)
4. A majority of the respondents complained of delayed compliance of instructions due to
inadequate staff. Also number of cash counters should be increased as the first step towards
giving the customers a quicker service.
Respondents suggested various improvements in ICICIs present services. Some of them
are listed below:
a. ATMs-A majority of respondents suggested more number of ATMs to be opened esp. in
the college campuses and small cities. It was also suggested that the bank should take
steps to reduce incidence of cash shortage on the ATMs.

b. Inadequate staff - A large number of respondents felt that the staff in the branch is less
due to which a lot of time is consumed. Also it was felt that the personnel should be
prompt in resolving the customers problems.
c. Increase in counters- a lot of respondents felt that multiple counters (esp cash and
DD/PO) should be opened so as to reduce the servicing time and give personalized
service to the customers.
d. It was felt that the bank should reduce the time it takes for cheque clearing and collection.
Money transfer through anywhere banking to other cities takes long time and a lot of
follow up with branch.
e. Less interest rate and charges A majority of the respondents felt that the interest rate
charged by the bank on cards and personal loans is high as compared to the competitors
and should be reduced.
f. It was suggested to make the bank statements more clear and simple, which could be
easily understood .It was also suggested that the mini statements issued by the bank,
should state all relevant transactions.
g. It was revealed that a lot of consumers wanted the bank to devise a method, which would
enable users to get their account status through SMS and Email.
h. The respondents complained that the branches did not have adequate space to enable
visitors to move easily without feeling suffocated. It was also felt that a few branches did
not have an adequate parking space. The respondents felt that the authorities should pay
more attention into the matter.

The respondents suggested the following new services that the bank should consider to
launch. Some of the suggestions are listed below:
a. Online customer service
b. Feature of account-to-account transfer in ATMs (3rd party)
c. More MEs, which accept ICICI Bank credit/debit, cards.
d. To make money available on demand at those branches where ATMs are not available.
e. Increase in daily withdrawal limit over ATMs
f. Information of new schemes and product launches by mail.
g.

Improvements in inter city funds transfer service.

CONCLUSION

Based on the study titled Comparison of Cash Services Viz a Viz Other Banks these factors are
concluded:
It is relevant from the study that different cash services provided by ICICI bank are significantly
preferable as compared to others. Due to services provided by ICICI bank like wide network of
branches & ATMs, customers are now joining the fate. Consumer awareness level, usage level is
significantly high. . Consumers are now aware of the products & services and investing specially
in saving accounts.
The company holds a major share in NCR region & still improving in the competitive
environment. With its corporate baseline Safer, simpler and smarter it became the most
diversified bank.
Open market 2009 impacts the industry on two fronts: External-Consolidation and Internal
markets and efficiencies. The firm should understand the open market challenges and try to
handle them effectively.

Thus, ICICI has been able to use technology to provide value-added service to its customers
during the last few years. For ICICI, technology is an integral part of their business. However,
their overall progress could have been smoother but for certain internal and extraneous factors and
also a pressure on spread due to a competitive market (Annual report, 2000 01). E-banking has
become a necessary survival weapon and is fundamentally changing the banking industry
worldwide. Today, the click of the mouse offers customers banking services at a much lower cost
and also empowers them with unprecedented freedom in choosing vendors for their financial
service needs. No country today has a choice- whether to implement E-banking or not given the
global and competitive nature of the economy. ICICI have to upgrade and constantly think of new

innovative customized packages and services to remain competitive. The invasion of banking by
technology has created an information age and commoditization of banking services. ICICI have
come to realize that survival in the new e-economy depends on delivering some or all of their
banking services on the Internet while continuing to support their traditional infrastructure. The
rise of E-banking is redefining business relationships and the most successful banks will be those
that can truly strengthen their relationship with their customers. Without any doubt, the
international scope of E-banking provides new growth perspectives and Internet business is a
catalyst for new technologies and new business processes.

BIBLIOGRAPHY

1) Toor, N.S (2013). Handbook of Banking Information

2) David Aaker, Kumar, George Day. Market Research (2012), John Willey & Sons.
3) Philip Kotler. Marketing Management (2012), Prentice Hall Inc, a Pearson Education
Company
4) Product Offering Brochures, ICICI Bank
5) ICICI Bank website: www.icicibank.com
6) Amfi India website: www.amfiindia.com
7) Google website: www.google.com

QUESTIONNAIRES

Dear SIR/MADAM, I am conducting survey on ICICI. I shall be very thankful to give your
few minutes to me for answering my few questions below.
Name: _____________________________________
Add: ________________________________________
Contact no: ____________________________________
Gender
Male
Female
E-mail Id : _______________________________________________________
Group: 1825
2535
35 45
4555
55+

Age

Occupation:
Journalist
Student
Professional
Retired Person
Technical expert
Other, please specify:
Income:
+10 laces

1 laces

13 laces

35 laces

57 laces

710 laces

1:-WHICH OF THE FOLLOWING ATTRIBUTES COMPELLED YOU MOST TO OPEN

BANK?
(a) ATM cum DEBIT Cards
(b) Cheque Book
(c) Internet Banking/ Phone Banking
(D) Working Hours
(e) Value Added Services

2:-Which TYPE OF SERVICE PREFERS THE MOST by you?

(a) ATM SERVICE
(b) INTERNET BANKING
(c) MOBILE BANKING
(d) CORE BANKING
(e) Retail Banking

3:-Which of following banks do you have account?

(a) ICICI Bank
(b) SBI Bank
(c) HDFC BANK
(D) Axis Bank
(e) Other Pls specify __________________

4:-WHAT TYPE OF ACCOUNT DO YOU HAVE IN BANK?

(a) Saving
(B) Current
(c) Fixed
(d) NRI
(e) Others Pls specify ________________________________________

5:-How many services offered by your banks?

(a) D-Mat A/C
(b) Mutual Funds
(c) e-Instructions
(d) LI & GI
(e) Digitally Signed Statement

6:-How would you know about these services?

(a) Advertisements
(b) Friends and Relatives
(c) Direct Selling Agents
(d) Others Pls specify _______________

7:-What the people think about the Banks?

(a) Necessity for protection security
(b) Imposition of a burden of expenses
(c) A compulsory tool for SAVING
(d) Others Pls specify ________________

8:-What a respondent see in purchase of new plan from Banks?

(a) Standing and goodwill of the company

(b) Product range of the company
(c) Advertisement being released by the company
(d) Services being given by the company

9:-Is ICICI Bank Provide better facilities than SBI & HDFC Bank?
(a) Yes
(b) No
(c)Can`t Say

10:-Do you know what type of value added services provide by ICICI BANKS?
(a)-Young star
(b)-Senior citizen
(c)-Pre paid card
(d)-Recurring deposits
(e)-other

11:-How would you rate product offered ICICI Bank than other?
Low 1 2 3 4 5 High

12:-How would you rate product service / product vs. cost by ICICI Bank?
Low 1- 2 -3 -4 -5 High

13:-How would you divide 100 points on the basis of service provide by ICICI Bank?

(a)-Less formality
(b)-Flexibility
(c)-Less documentation
(d)-others

14:-How would you rate services offered by ICICI Bank?

(a) Extremely Satisfied
(b) Satisfied
(c) Moderate
(d) Dissatisfied
(e) Extremely Dissatisfied

15:-Would you like any recommendation to ICICI Bank?