Executive Summary: HR Practices and Polices of Icici Bank

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SIKKIM MANIPAL UNIVERSITY, IICT COLLEGE LC-00137, CHITRADURGA

HR PRACTICES AND POLICES OF ICICI BANK
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.

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RESEARCH OBJECTIVE
1. To draw the comparative analysis of ICICI BANK Ltd with SBI
etc.

2. To identify the major attributes of customer satisfaction.

3. To study customer perception about ICICI BANK Ltd.

4. To identify and study the various ways of ensuring customer
satisfaction adopted by ICICI BANK Vs HDFC & SBI.

BANKING STRUCTURE IN INDIA
Scheduled Banks in India
(A) Scheduled Commercial Banks
Public sector
Banks
Private sector
Banks
Foreign
Banks in
India
Regional
Rural Bank
(28) (27) (29) (102)
Nationalized
Bank
Other Public
Sector Banks
(IDBI)
SBI and its
Associates
Old Private
Banks
New Private
Banks

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(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.

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

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INTRODUCTION
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.

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HISTORY OF BANKING IN INDIA
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.
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New phase of Indian Banking System with the advent of
Indian Financial & Banking Sector Reforms after 1991.
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.
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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.
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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%.

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.

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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.

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Major Banks in India
ABN-AMRO Bank
Abu Dhabi Commercial Bank
American Express Bank
Andhra Bank
Allahabad Bank
Bank of Baroda
Bank of India
Bank of Maharastra
Bank of Punjab
Bank of Rajasthan
Bank of Ceylon
BNP Paribas Bank
Canara Bank
Catholic Syrian Bank
Central Bank of India
Centurion Bank
China Trust Commercial
Bank
Citi Bank
City Union Bank
Corporation Bank
Dena Bank
Deutsche Bank
Development Credit Bank
Dhanalakshmi Bank
Federal Bank
HDFC Bank
HSBC ICICI Bank
IDBI Bank
Indian Bank
Indian Overseas Bank
IndusInd Bank
ING Vysya Bank
Jammu & Kashmir Bank
JPMorgan Chase Bank
Karnataka Bank
Karur Vysya Bank
Laxmi Vilas Bank
Oriental Bank of
Commerce
Punjab National Bank
Punjab & Sind Bank
Scotia Bank
South Indian Bank
Standard Chartered Bank
State Bank of India (SBI)
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
Syndicate Bank
Taib Bank
UCO Bank
Union Bank of India
United Bank of India
United Bank Of India
United Western Bank
UTI Bank
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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 their selected branches
Punjab and
Sind Bank
The first Indian bank to have been started solely with
Indian capital
Punjab National
Bank
The first among the private sector banks in Kerala to
become a scheduled bank in 1946 under the RBI Act
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
overseas
State Bank of
India
India's second largest private sector bank and is now
the largest scheduled commercial bank in India
The Federal
Bank Limited
Bank which started as private shareholders banks,
mostly Europeans shareholders
Imperial Bank of
India
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
Bank of India,
founded in 1906
in Mumbai
The oldest Public Sector Bank in India having
branches all over India and serving the customers for
the last 132 years
Allahabad Bank
The first Indian commercial bank which was wholly
owned and managed by Indians
Central Bank of
India

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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 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
Corporation Bank
Dena Bank
Indian Bank
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Oriental Bank of Commerce
Punjab & Sind Bank
Syndicate Bank
UCO Bank
Union Bank of India
Vijaya Bank
List of State Bank of India and its subsidiary, a Public Sector
Banks
State Bank of India
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 class institutions in India.
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
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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
Karnataka Bank
Karur Vysya Bank
Laxmi Vilas Bank
South Indian Bank
United Western Bank

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INDIAN BANKING INDUSTRY
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, middle class, and technological innovations are all
contributing to this growth.

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
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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 and acquisitions to take advantage
of economies of scale and/or comply 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."

Type Private, BSE & NSE, NYSE
Founded 1955 (as Industrial credit and Investment
corporation of India)
Headquarters ICICI Bank Ltd.,
ICICI Bank Towers,
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.
Revenue USD 5.79 billion
Total assets Rs. 3,997.95 billion (US$ 100 billion) at
March 31, 2008.
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OVERVIEW
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.146,214 crore (December 31, 2004)
Network: 530 branches
ATMs: Over 1,880
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
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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 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
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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 (Non-Resident 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.

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.

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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.

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.
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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.
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.

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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
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(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;
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.

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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 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
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Bank of India
Bank of Maharashtra
Canara Bank
Corporation Bank
Dena Bank
IDBI Bank
Indian Bank
Oriental Bank of Commerce
Punjab & Sind Bank
Syndicate Bank
UCO Bank
Union Bank of India
Vijaya Bank

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
26

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.

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, world-class service.

Expand the frontiers of our business globally.

Play a proactive role in the full realization of Indias potential.

27

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.

TECHNOLOGY
ICICI use many type of advance technological software like
Pinnacle 7.0 and Pinnacle7.016.Among from this software ICICI bank
28

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 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.

29

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
pre-configured. 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.

30

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 Premier, an insurance package.

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:
31

General Ledger Project Costing
Human Resources
Accounts Receivable Payroll
Benefits
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.

ICICI Prudential Life Insurance Company Limited
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 24
th
November 2000. It commenced
commercial operation from 19
th
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.
32

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 organization 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 there will be no limits to their
growth.

Board of Directors
The ICICI Prudential Life Insurance Company Limited Boardcomprises
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
33

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

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

34

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
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
Audit Committee
Mr. S Mukherji, Chairman
Mr. Dileep Choksi, Director
Mr. James F Dowd, Director
Mr. H.N. Sinor, Director

35

Investment Committee
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
Board Governance Committee
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
36

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
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
37

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 enable an NRI to secure his
assets in India.

38

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 executives, 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, and easy to understand and
operate.

39

ICICI GROUP

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.

ICICI Venture has the distinction of managing a large number
of exits in the Country. With over 100 liquidity events, the
40

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
41

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 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

42

ICICI Bank Product & Customer Segment:
PERSONAL BANKING
Loan Product Deposit Product Investment & Insurance
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
Saving a/c
Current a/c
Fixed deposit
Demat a/c
Safe Deposit
Lockers
Mutual Fund
Bonds
Knowledge
Centre
Insurance
General and
Health Insurance
Equity and
Derivatives
Mudra Gold Bar
Cards Payment Services Access To Bank
Credit Card
Debit Card
Prepaid Card

NetSafe
Merchant
Prepaid Refill
Billpay
Visa Bill pay
InstaPay
DirectPay
VisaMoney
Transfer
eMonies
Electronic
NetBanking
OneView
InstaAlert
MobileBanking
ATM
Phone Banking
Email
Statements
Branch Network
43

WHOLESALE BANKING
Corporate Small and Medium
Enterprises
Financial Institutions and
Trusts
Funded
Services
Non
Funded
Services
Value
Added
Services
Internet
Banking

Funded Services
Non Funded Services
Specialized Services
Value added services
Internet Banking
BANKS
Clearing Sub Memb
ership
RTGS sub
membership
Fund Transfer
ATM Tie-ups
Corporate Salary
a/c
Tax Collection
Financial Institutions
Mutual Funds
Stock Brokers
Insurance Companies
Commodities Business
Trusts

44

NRI SERVICES
Accounts & Deposits Remittances
Rupee Saving a/c
Rupee Current a/c
Rupee Fixed Deposits
Foreign Currency Deposits
Accounts for Returning
Indians
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 Loans
Mutual Funds
Insurance
Private Banking
Portfolio Investment
Scheme
Home Loans
Loans Against Securities
Loans Against Deposits
Gold Credit Card
Payment Services Access To Bank
NetSafe
BillPay
InstaPay
DirectPay
Visa Money
Online Donation
NetBanking
OneView
InstaAlert
ATM
PhoneBanking
Email Statements
Branch Network
45


PRODUCT
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

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.

46

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.

47

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
48

loans, top up on existing loans, Extend product, working capital loans
& other banking products.
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.

49

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
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.

50

Investments

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:
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

51

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:
52

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)

53

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
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.

54

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.

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.

55

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 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.

Threat Matrix
An Environmental Threat is a challenge posed by an
unfavorable 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.

56


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.

57

The Threats under the fourth quadrant are negligible as the
probability occurrence and seriousness both are on the lower side of
the matrix.

STRENGHTS
a. 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.]

b. 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.

c. 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.
d. 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.

e. 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.
58


f. 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.

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

OPPORTUNITIES
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 wills also up to large extent help
the bank earn profits & popularity.

59

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 4
th

quadrant so the bank should neglect it.

THREATS
1. Competition: ICICI Bank is facing tight competition locally
as well as internationally. Bank like CITI Bank, HSBC, ABM,
Standard 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.
60

But this threat falls in the 4
th
quadrant so its negligible. The
company can avoid this threat.

61

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 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.

62

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.

Customer Satisfaction:
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 with the current
purchase.

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,
63

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:
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.

64

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.

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.
65

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.

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.

37%
17%
15%
21%
10%
People Like To Open an A/c
ATM
CHEQUE BOOK
Internet Banking
working Hour
Value added Services
50%
20%
15%
5%
services prefer most by customer
ATM
Net Banking
Core Banking
Mobile Banking
Retail Banking
DATA ANALYSIS

1. WHICH OF THE FOLLOWING ATTR IBUTES COMPELLED
YOU To MOST OPEN SAVING ACCOUNT IN ANY BANK?

2. Which TYPE OF SERVICE PREFERS THE MOST by you?

20
11
8
6
5
0
5
10
15
20
25
SBI ICICI Axis Hdfc Others
Customer Having Bank A/C
Customer Having Bank
A/C
50
10
43
12
0
10
20
30
40
50
60
Saving Current Fixed Deposit Others
Customer Having A/C
Customer Having A/C
3. Which of following banks do you have account?

4. WHAT TYPE OF ACCOUNT DO YOU HAVE IN BANK?

19
27
22
47
0
10
20
30
40
50
Demat A/C Matual Fund E- tasaction LI & GI
Customer Using Services Offered by
Their Bank
Customer Using Services
Offered by Their Bank
Adtiesment
36%
Friends &
Relative
29%
Selling agent
21%
Others
14%
Awareness
5. How many services offered by your banks have been Used
By you?

6. How would you know about these services?

49%
33%
7%
11%
People Think About Bank
Security Saving Imposition of a burden of expenses Others
Standing and
goodwill of the
company
41%
Product range
of the
company
13%
Services being
given by the
company
28%
Advertisement
being released by
the company
18%
Peope See In Perchasing New Plan
7. What the people think about the Banks?

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

38%
45%
17%
Services
Yes No Can`t Say
16
50
31
11
31
0
10
20
30
40
50
60
Young Star Senior
Citizen
Recurring
Deposits
Others Pre-Paid
Cards
Awareness About Value Add Services
Awareness About Value
Add Services
9. Is ICICI Bank Provide better facilities than SBI & HDFC
Bank?

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

34%
28%
17%
13%
8%
Product Range
Very Good Good Moderate Less Poor
14%
30%
45%
11%
Cost
Very High High Moderate Less
11. How would you rate product offered ICICI Bank than
other?

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

Very Good Good Moderate Less Poor
Rating 5 4 3 2 1

28%
43%
21%
8%
Services Provided by Bank
Less formality Flexibility Less documentation others
Extremely
Satisfaction
12%
Satisfaction
34%
Moderate
20%
Dissatisfaction
26%
Extremely
Dissatisfaction
8%
Satisfaction
13. How would you divide 100 points on the basis of
service provide by ICICI Bank?

14. How would you rate services offered by ICICI Bank?

COMPARISON OF ICICI 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.

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 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 subsidiary banks
of SBI. As of 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 networks 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.

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

COMPETITIVE SWOT ANALYSIS WITH ICICI BANK

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

S O Strategies

Strength: Large Capital base.
Opportunity: Market
Expansion.
Strategy: Deep Penetration
into Rural Market.

W O Strategies

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

T
H
R
E
A
T
S

S T Strategies

Strength: Low operating costs
Threat: Increased
Competition from others Pvt.
Banks.
Strategy: Steps to Ensure
Loyalty by old
Customers.

W T Strategies

Weakness: Not Equal to
International Standards.
Threat: Entry of many Foreign
Banks.
Strategy: Consider additional
benefits

FINDINGS, SUGGESTIONS & CONCLUSION
Findings:
It was found from the study that bank believes in quality service
rather than quantity of service.

The officials employed are very much enthusiastic about their
job.

The officials try to make best relation with the customers.

There is separate counter for NRI services.

The limit of cash vault is Rs. 10, 00,000 for a day.

The registers and files are maintained on a daily basis.

The registers are maintained in a well organized manner.

The marketing strategy of the bank is very attractive.

The bank always tries to attract customers with innovative
offers.

The bank is very keen to implement 5's plan in all its branch.

ICICI and SBI credit deposit ratio is on the side though ICICI
banks show a little decreasing trend to the exten of 2.24 % Over
mar2007 _ mar 2008.

Both the bank investment deposit ratio is on the declining
trend.

Both the banks has shown better utilization of cash portfolio.

ICICI bank Interest expenses to interest earned remains the
same Over 2 Years whereas SBI shows reduction.

Other Income ratio remains fluctuation in both the banks.

Operating expenses to total income shows a decreasing trend in
ICICI bank whereas it was on the rising side in SBI.

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.

The ratio of Non Interest income remains the same for ICICI for
The past 2 Years whereas in SBI at shows a decline.

The stock witness some selling pressure in the coming days in
ICICI Bank .

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.

SUGGESTIONS
A. Best play in a buoyant environment - Favorable macro, buoyant
Market - related revenues and a benign environment for asset
quality.

ICICI -as a player focused on maintaining and /or improving
Market share in key business segments, particularly retail
lending- Will, in our view, benefit immensely form a positive
operating Environment.

ICICI is viewed as it is benefited from the procyclicality effect of
The economic cycle as its borrowers in the legacy project
financing Activity witnessed their debt servicing ability
increasing considerably. It is believed that the profitability of
this segment has improved as a Result of lower loan loss
provisions and lower taxable rates of Income from this source.
Expectations is on the procyclical benefit ,To continue and
hence profitability of legacy lending to be sustained At levels
seen earlier.

Market related revenues is believed to contribute 14% - 15% to
ICICIB's operating revenues and have boosted its preprovision
RoAA. Buoyant environment to sustain the contribution from
market -related revenues is expected and hence the operating
profitability.

Pricing power in consumer financing segment profitability
Against potential shocks.

ICICIB enjoys a dominant market position across customer
Categories in retail lending. The strong market position and
robust Demand for consumer financing vests significant pricing
power With ICICIB is believed either by allowing a hike in

lending rats, Negotiating higher subvention form manufacturers
of cutting Distribution costs.

Strong pricing power and a balance sheet that is significantly
Biased towards retail lending buffers ICICB's profitability from
Potential shocks in the bank's funding cost.

ICICB has an adverse mismatch profile between assets and
Liabilities. High volatility in interest rates could adversely effect
Profitability in the short term; however, as the back book gets
Reprised at new lending rates upon maturity, the bank's NIM
will Likely show improvement. This phenomenon to play out
through FY1002E and FY2009E is expected.

In line with consensus, but we recommend buy ICICIB for
growth Reasons and not for the relative valuation appeal. It is
not so much about ICICIB versus HSFC or HDFCB, but about
Their respective operating metrics and growth conditions.
Market Has rewarded both strategies: ICICIB's broad-based
strategy allows capturing value across the Value chain in a
customer segment; and ICICIB, like other large players in the
private sector, enjoys Favorable conditions arising from a
restrictive regulatory/policy Environment towards new entrants
and foreign banks and slow Pace of reforms for state-owned
banks is believed.

B. Increasing contribution from strategic investments - yet another
driver
The value accruing from subsidiaries to be 17% of ICICIB's
Current mark capitalization. This to rise to 20% of ICICIB's
target Price over the next 12 months is expected with banking
and life Insurance being the key drivers.

The life insurance business of ICICIB has been incurring losses
On an accounting basis due to continued investment in
expanding The scale and scope of the business. The life
insurance business is believed in creating wealth for its
shareholders through market Share gains, increasing
penetration of life insurance and improving operating efficiency.

The asset management and venture capital fund of ICICB
makes A negligible contribution currently; however, these
businesses is Believed to hold significant upside potential as
they achieve scale Economies.

CONCLUSION
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 spreads 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.

Confidential Questionnaire
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 :
_______________________________________________________ Age
Group: 1825 2535 35 45
4555 55+

Occupation:
Journalist
Student
Professional
Retired Person

Technical expert
Other, please specify:

Income: 1 laces 13 laces 35 laces 5
7 laces 710 laces +10 laces

1:-WHICH OF THE FOLLOWING ATTRIBUTES COMPELLED YOU MOST TO OPEN
SAVING ACCOUNT IN ANY 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?

Bibliography

www.rbi.org.in
www.moneycontrol.com
www.nseindia.com
www.icicibank.com
www.google.com
Economic times
Business world

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SIKKIM MANIPAL UNIVERSITY, IICT COLLEGE LC-00137, CHITRADURGA

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