V.M.P.C.M.S.

(BBA)

ICICI BANK

A
Research Project Report on
Customer Satisfaction on Education Loan with
reference to ICICI Bank in Ahmedabad Region.
In partial fulfilment of the requirement for
Program:

SEMESTER -VI (FS)

Year:

December 2012 to April 2013

Subject:

PROJECT (Financial Services)

SUBMITTED BY :
NAME OF STUDENT

G.NO.

E.NO.

F15
F15

10052321005
10052321006

Desai Gunjan Ramanlal

Dharkar Rishikesh Mahendra

F15

10052321030

Patel Harsh Mukeshbhai

F15

10052321043

Patel Niketan Babubhai

F15

10052321058

Raval Bhargav Rajendrabhai

SUBMITTED TO :

GANPAT UNIVERSITY

V.M. Patel College of Management Studies

Ganpat Vidyanagar Campus, 384012,
Mehsana-Gandhinagar Highway,
Dist. Mehsana, North Gujarat, India.

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GANPAT UNIVERSITY
V. M. Patel College of Management Studies
Mehsana - Gozariya Highway, Kherva- 384012,
Dist: Mehsana, North Gujarat, India.
Phone: + 91-2762-289094, 286896
www.vmpcms.ac.in

CERTIFICATE
This is to certify that Group No. 15 including Group Members as
10052321005
10052321006
10052321030
10052321043
10052321058

Desai Gunjan Ramanlal

Dharkar Rishikesh Mahendra
Patel Harsh Mukeshbhai
Patel Niketan Babubhai
Raval Bhargav Rajendrabhai

of Semester - VI, Division: FS, has satisfactorily completed their Project Report in
partial fulfillment of the requirement for the Subject Project in the December 2012 to
April 2013.

Sign of Project In charge

Prof. Vishal Acharya

College Seal

Date _______________
Place _______________

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PREFACE

This Research Project Report has been prepared in partial fulfilment of the requirement for the
Subject: Project (Financial Services) of the Semester -VI in the Semester December 2012 to April
2013.
For preparing the Research Project Report, We have visited the company during the
suggested duration of 10 days to avail the necessary information. The blend of learning and
knowledge acquired during our practical studies at the company is presented in this Research
Project Report.
Our main focus and study was on Customer Satisfaction on Education Loan with reference to ICICI
Bank in Ahmedabad region.
We have put up our best efforts and enumerated every possible information while survey and
analysis in the research to make this Research report a satisfactory report.
It was a great opportunity and memorable experience interacting with people working there,
collecting information regarding their job and acquiring knowledge.
Lastly, we have tried our level best to prepare the best informative report.

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ACKNOWLEDGEMENT

It was indeed an opportunity for us to do research study on Customer Satisfaction on

education loan with reference to ICICI Bank in Ahmedabad region to Prepare a Research
Project Report on the same during Semester -VI. During our Research study preparation ,we
learnt many interesting things about the Research, along with the aspects of its process and as
a whole.
We would hereby take this opportunity to show our gratitude towards all our faculties for
what we have learnt during Research Study. A good response, explanation of concepts and
co-operation given by whole staff helped us in gaining knowledge and solving our queries.
We convey our sincere thanks to all the staff members of V.M.P.C.M.S.
We feel immense pleasure to thank Dr. K. M. Chudasama, Principal, V.M.P.C.M.S.,
Ganpat University, Kherva. For making available all facilities in fulfilling the requirements for the
research work.
The successful completion of this Research project could not have been possible
without the co-operation and support of Project In charge who have given supportive
information and explanation for the Research project. We forward our appreciation to
respected Project coordinator of the Our Class Vishal Acharya sir. Who supported and guided us
throughout the project period.

( Gunjan, Rishikesh, Harsh, Niketan, Bhargav )

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ICICI BANK
TABLE OF CONTENT
Particular

Page No.

Front Page

College Certificate

II

Preface

III

Acknowledgement

IV

CHAPTER 1

1.1

INTRODUCTION OF BANK

1.2

HISTORY OF BANKING

1.3

STRUCTURE OF INDIAN BANKING SECTOR

15

1.4

LIST OF PRIVATE BANKS IN INDIA

16

1.5

FACT FILES OF BANK IN INDIA

17

CHAPTER 2

HISTORY OF ICICI BANK

19

2.1

PRODUCTS & SERVICES

27

2.2

ORGANISATIONAL STRUCTURE

34

2.3

MISSION & VISION

35

2.4

AWARDS & RECOGNITIONS

36

CHAPTER 3

INTRODUCTION OF SUBJECT

38

CUSTOMER SATISFACTION
CHAPTER 4

RESEARCH METHODOLOGY

4.1

TITLE OF RESACH STUDY

40

4.2

RESARCH OBJECTIVE

47

4.3

NATURE OF RESARCH STUDY

47

4.4

SAMPLING PLAN

48

4.5

DATA COLLECTION DESIGN

48

4.6

DATA COLLECTION METHOD

48

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ICICI BANK

DATA COLLECTION INSTRUMENT

CHAPTER 5 :- DATA ANALYSIS &

48
50

INTERPRETATION
CHAPTER 6:- FINDINGS

67

CHAPTER 7 :-RECOMMENDATIONS

69

CHAPTER 8:- LIMITATIONS

71

CHAPTER 9 :- CONCLUSION

73

BIBLIOGRAPHY

75

ANNEXURE

77-79

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Definition of Bank
Banking means accepting deposits for the purpose of lending investment of deposits of
money from the public, repayable on demand or otherwise & withdraw by cheque, draft or
otherwise
-Banking Companies (Regulation) Act, 1949

ORIGIN OF THE WORD BANK

The origin of the word bank is shrouded in mystery. According to one view point the Italian
business house carrying on crude from of banking were called banchi bancheri .According
to viewpoint banking is derived from German word branck which mean heap of mound. In
England, the issue of paper money by the government was referred to as raising a bank.

ORIGIN OF BANKING:
Its origin is simplest from can be traced to the origin of authentic history. After recognizing
the benefit of money as a medium of exchange , the importance of banking was developed as
it provides the safer place to store the money .This safe place ultimately evolved in to
financial institutions that accepts deposits & make loans i.e.,modern commercial banks.

BANKING SYSTEM IN INDIA

Without a sound & effective banking system in India it cannot have a healthy economy. The
banking system in India should not only be hassle free but it should be able to meet new
challenges posed by the technology & any other external & internal factors.
For the past three decades Indias 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 Indias growth process.

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1.1 HISTORY OF BANKING

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:
1) Early phase of Indian banks, from 1786 to 1969
2) Nationalization of banks and the banking sector reforms, from 1969 to 1991
3) New phase of Indian banking system, with the reforms after 1991

Phase1:The first bank in India, the General Bank of India, was set up in 1786. Bank of Hindustan and
Bengal Bank followed. The East India Company established Bank of Bengal (1809), Bank of
Bombay (1840), and Bank of Madras (1843) as independent units and called them Presidency
banks. These three banks were amalgamated in 1920 and the Imperial Bank of India, a bank
of private shareholders, mostly Europeans, was established. Allahabad Bank was established,
exclusively by Indians, in 1865. Punjab National Bank was set up in 1894 with headquarters
in 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. The 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 1,100 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 the Banking Regulation Act,
1949 as per amending Act of 1965 (Act No. 23 of 1965). The Reserve Bank of India (RBI)
was vested with extensive powers for the supervision of banking in India as the Central
banking authority. During those days, the general public had lesser confidence in banks. As
an aftermath, deposit mobilization was slow. Moreover, the savings bank facility provided by
the Postal department was comparatively safer, and funds were largely given to trader.

Phase2:The government took major initiatives in banking sector reforms after Independence. In 1955,
it nationalized the Imperial Bank of India and started offering extensive banking facilities,
especially in rural and semi-urban areas. The government constituted the State Bank of India
to act as the principal agent of the RBI and to handle banking transactions of the Union

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government and state governments all over the country. Seven banks owned by the Princely
states were nationalized in 1959 and they became subsidiaries of the State Bank of India. In 1969,
14 commercial banks in the country were nationalized. In the second phase of banking sector
reforms, seven more banks were nationalized in 1980. With this, 80 per-cent of the banking
sector in India came under the government ownership.

Phase3:This phase has introduced many more products and facilities in the banking sector as part of the
reforms process. In 1991, under the chairmanship of M Narasimham, a committee was set up,
which worked for the liberalization of banking practices. Now, 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 are introduced. The entire system became more
convenient and swift. Time is given importance in all money transactions.
The financial system of India has shown a great deal of resilience. It is sheltered from crises
triggered by external macroeconomic shocks, which other East Asian countries often
suffered. This is all due to a flexible exchange rate regime, the high foreign exchange reserve, the
not-yet fully convertible capital account, and the limited foreign exchange exposure of banks
and their customers.

Nationalization Process: 1955: Nationalization of State Bank of India

1959: Nationalization of SBI subsidiaries
1969: Nationalization of 14 major banks
1980: Nationalization of seven banks with deposits over Rs 200 crore
The commercial banking structure in India consists of scheduled commercial banks and
unscheduled banks. Scheduled banks constitute those banks that are included in the Second
Schedule of Reserve Bank of India (RBI) Act, 1934.
As on June 30, 1999, there were 300 scheduled banks in India having a total network of
64,918 branches. The scheduled commercial banks in India comprise State Bank of India and
its associates (8), nationalised banks (19), foreign banks (45), private sector banks (32), co operative banks, and regional rural banks. Before the nationalization of Indian banks, the
State Bank of India (SBI) was the only nationalized bank, which was nationalized on July 1,

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1955, under the SBI Act of 1955. The nationalization of seven State Banks subsidiary took
place.
After the nationalization of banks in India, the branches of the public sector banks rose to
approximately 800 per-cents in deposits and advances took a huge jump by

11,000

percentage.

1.2 Reforms:As a result of the reforms, the number of banks increased rapidly. In 1991, there were 27
public-sector banks and 26 domestic private banks with 60,000 branches, 24 foreign banks with
140 branches, and 20 foreign banks with a representative office. Between January 1993 and March
1998, 24 new private banks (nine domestic and 15 foreign) entered the market; the total number of
scheduled commercial banks, excluding specialized banks such as the Regional Rural Banks
rose from 75 in 1991/92 to 99 in 1997/98.
Entry deregulation was accompanied by progressive deregulation of interest rates on deposits and
advances. From October 1994, interest rates were deregulated in a phased manner and by October
1997, banks were allowed to set interest rates on all term deposits of maturity of more than 30
days and on all advances exceeding Rs 200,000.
While the CRR and SLR, interest rate policy, and prudential norms have always been applied
uniformly to all commercial banks, the Reserve Bank of India treated foreign banks
differently with respect to the regulation that requires a portion of credit to be allocated to
priority sectors. In 1993, foreign banks - which used to be exempt from this requirement while
all other commercial banks were required to earmark 40 per cent of credit - were required to
allocate 32 per cent of credit to priority
After the 13 years of economic and financial sector reforms, banking sector has also
achieved: Widespread branch network, varied client base
Recapitalization has bolstered bank balance sheet
Public confidence in PSBs

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1.3 Position of banking sector before and after independent:

Before:In India the business of banking and credit was practices even in very early times. The
remittance of money through Hundies, an indigenous credit instrument, was very popular. The
handier were issued by bankers known as Shroffs, Sahukars, Shahus or Mahajans in different
parts of the country.
The modern type of banking, however, was developed by the Agency Houses of Calcutta and
Bombay after the establishment of Rule by the East India Company in 18th and 19th centuries.
During the early part of the 19th Century, ht volume of foreign trade was relatively small. Later
on as the trade expanded, the need for banks of the European type was felt and the
government of the East India Company took interest in having its own bank. The government of
Bengal took the initiative and the first presidency bank, the Bank of Calcutta (Bank of
Bengal) was established in 180. In 1840, the Bank of Bombay and IN 1843, the Bank of Madras
was also set up.
These three banks also known as Presidency Bank. The Presidency Banks had their
branches in important trading centres but mostly lacked in uniformity in their operational
policies. In 1899, the Government proposed to amalgamate these three banks in to one so that
it could also function as a Central Bank, but the Presidency Banks did not favour the idea.
However, the conditions obtaining during world war period (1914-1918) emphasized the
need for a unified banking institution, as a result of which the Imperial Bank was set up
in1921. The Imperial Bank of India acted like a Central bank and as a banker for other banks.
The RBI (Reserve Bank of India) was established in 1935 as the Central Bank of the Country. In
1949, the Banking Regulation act was passed and the RBI was nationalized and acquired
extensive regulatory powers over the commercial banks.
After:After Independence, in 1951, the All India Rural Credit survey, committee of Direction with
Shri. A. D. Gorwala as Chairman recommended amalgamation of the Imperial Bank of India
and ten others banks into a newly established bank called the State Bank of India (SBI). The
Government of India accepted the recommendations of the committee and introduced the
State Bank of India bill in the Lok Sabha on 16th April 1955 and it was passed by Parliament

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and got the presidents assent on 8th May 1955. The Act came into force on 1st July 1955, and the
Imperial Bank of India was nationalized in 1955 as the State Bank of India.The main objective
of establishing SBI by nationalizing the Imperial Bank of India was to extend banking
facilities on a large scale more particularly in the rural and semi-urban areas and to diverse other
public purposes.

1.4 SOME OF THE MILESTONES OF BANKING SECTOR

The Indian Banking Sector has notched up significant successes ever since the days of
nationalization. The Reserve Bank of India, the country's Central Bank, is constantly
innovating in its endeavour to upgrade the country's Payment System, and Information
Technology is playing a pivotal role in it. The Banking Industry too has realized the huge benefits
of 'technologizing', and is adopting Information Technology in a big way in all its strategic,
functional and operational processes and applications
The Reserve Bank of India constituted a committee on "Technology Up gradation in the
Payments System" in the year 1994 under the Chairmanship of Shri W.S.Saraf, the then
Executive Director of RBI. In its report submitted in December 1994, the committee
emphasized that an apex-level Institute be set up to undertake development and research in
the area of Information Technology applied to the financial sector, with specific focus on
banking.
The Central Board of Directors of RBI, in their meeting held on October

19, 1995 at

Thiruvananthapuram, approved the establishment of the Institute with a brief to spearhead

technology absorption in the banking and financial sector of the country.
Accordingly,
The IDRBT started functioning from March06, 1996. The Institute has crossed many a
milestone and contributed in a big way to the growth and development of the Banking and
Financial Sector in India, and more importantly facilitated in making banking a pleasure for the
common Indian.

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1786 - The General Bank of India (defunct)

1806 - The Bank of Calcutta, changed as The Bank of Bengal in 1809
1840 - The Bank of Bombay
1843 - The Bank of Madras
1861 - Paper Currency Act
1870 - Bank of Hindustan (defunct)
1921 - The Imperial Bank of India (amalgamation of the three Presidency Banks)
1935 - The Reserve Bank of India, as the central bank
1949 - Transfer of Reserve Bank to the Government Sector
1949 - The Banking Companies Act / Banking Regulation Act
1955 - The Imperial Bank of India became the State Bank of India (first nationalisation)
1961 - Insurance cover for deposits
1969 - Nationalisation of 14 major banks
1971 - Credit guarantee corporation
1975 - Regional rural banks
1980- Nationalisation of seven more banks, with deposits over 200 crore

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1.5 Structure of Indian banking sector

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1.6 List of private banks in India

1. Bank of Baroda

10.IDBI Bank

2. Bank of Rajasthan

11.Indusland Bank

3. Catholic Syrian Bank

12.ING Vysya Bank

4. City Union Bank

13.Jammu&kasmir Bank

5. Dhanlakshmi Bank

14.Karnataka Bank

6. Development credit Bank

15.UTI Bank

7. Federal Bank

16.Karur Vysya Bank

8. HDFC Bank

17.Laxmi Vilas Bank

9. ICICI Bank

18.United western Bank

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1.7 Fact File of Banks:

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
Bank

National

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

South Indian Bank
scheduled bank in 1946 under the RBI Act
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

Bank of India,
The first Indian bank to open a branch outside India in London in 1946 and
founded in 1906 in
the first to open a branch in continental Europe at Paris in 1974
Mumbai
The oldest Public Sector Bank in India having branches all over India
Allahabad Bank
and serving the customers for the last 132 years
The first Indian commercial bank which was wholly owned and
managed by Indians

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Central Bank of
India

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2.1 History of ICICI bank

1994
The Bank was incorporated on 5th January at Baroda. ICICI Bank was promoted by
ICICI and erstwhile SCICI Ltd. and received the Certificate for Commencement of
Business on 24th February. It does banking business of all kinds. It was founded as an
institution to provide quality banking services using state-of-the-art technology.
The Bank has established a well-diversified branch network with 24branches in 15
centres covering 12 states. The bank set up a fully computerised environment with the
State-of-the-art technology at all offices continuously upgrading its strong systems and
procedures with special emphasis on risk management.

1996
The deposit products and other services of the bank were branded with names such as
`Maxi cash' for services accounts, `Money Plus' for Current Account, `Quantum' for fixed
deposit account, `Power Pay' for pay roll accounts treasure chest for locker facilities and
`Trice' for automated teller machine facility.
The Bank had, in compliance with a directive issued by RBI deposited in aggregate Rs
88.16 crores with small Industrial Development Bank of India and National Bank for
Agricultural & Rural Development.
The `B' category branches were authorised to handle full range of foreign exchange
transaction of customers and five other branches were placed in `C' category to handle
limited foreign exchange transactions.
Seven branches of the bank with substantial foreign exchange Business were linked to the
society for worldwide Interbank Telecommunication (SWIFT) network which enables
them to transmit Letter of Credit and fund transfer messages promptly world-wide.

1997
The bank introduced electronic funds transfer facility.

The bank has a full-fledged

vigilance and inspection department.

The bank opened 11 branches and 2 extensions counters there by increasing the total
network of branches to 33 and extension counter.
The Bank offered 150, 00,000 No. of equity shares of Rs 10 each at a prem., of Rs 25 per
share to ICICI.
The Bank offered for sale 412, 50,200 No. of equity shares of Rs 10 each at a price of Rs
35 per share.

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Sicom Ltd. has entered into an agreement with ICICI Bank and Dresdner Bank for
providing a counter guarantee against letters of credits (LCs) opened by its clients.
The merger of SCICI with ICICI effective from April 1, the bank has become a whollyowned subsidiary of ICICI.
ICICI Banking Corporation, a fully-owned subsidiary of Industrial Credit & Investment
Corp of India Ltd, has finalised an offer for sale of 4 crore equity shares of Rs.10 each at
a premium of Rs.30 per share, according to merchant banking sources.

1998
ICICI Bank, which introduced Internet banking in India, is set to launch various
technology-based new services in the near future. Some of the new services include
setting up of call centres and the introduction of fund transfers between own accounts in
its branches.
ICICI Banking Corporation Ltd, the first bank in the country to go in for Internet banking,
is now all set to provide its account-holders with the facility of transferring funds across
their accounts on the Net.

1999
ICICI Bank has signed an agreement to use the NCR switch mark technology for onlinenetworking all its ATMs, the officials said they network would come into place in
September.
ICICI Bank recently restructured its organisational structure by setting up strategic
business units for retail banking, corporate banking and forex and treasury operations, as
independent profit centres.
ICICI is all set to launch a 60-second television commercial on August 15, 1999.

2000
ICICI Bank became the first Indian bank to list on the New York Stock Exchange with its
5-million American depository shares issue generating a demand book 13 times its size at
2 billion.
The Bank proposes to bring credit cards to the large, underserved population in rural and
semi-urban areas.

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Sky Cell Communications Ltd, one of the two cellular service providers in Chennai, has
launched `Sky Banking', for which the company has tied up with ICICI Bank and HDFC
Bank.
The ICICI has announced the launch of mobile banking services for Its customers, using
the wireless application protocol (WAP) technology.
Ford India has tied up with ICICI Bank to introduce a scheme, enabling non-resident
Indians (NRIs) to purchase a Ford Ikon car for their friends and relatives in India.
ICICI Bank has set up a ATM facility at a Indian Oil Corporation petro diesel outlet at
Chennai.

2001
ICICI Is all set to become the first domestic financial institution to get a financial strength
rating by the Moody's Interbank Credit Services, the bank credit rating arm of the
international credit rating agency Moody's Investors Services.
The Bank of Madura (BOM) got merged with ICICIBK. The share Exchange ratio was
fixed at two shares of ICICIBK for one share of BOM. With this merger ICICIBK has
become one of the largest private sector Banks in India. Commenting on the merger Shri
H N Sinor, Managing Director and CEO ICICIBK said that This merger would lead to
considerable synergies in the operations of the merged entity and would benefit the
customers and other stakeholders.
ICICI Bank and Deutsche Bank have entered into a long-term rupee interest rate swap
benchmarked to Government bond yields.
ICICI Bank has tied up with Advantage E- Accounting to offer an on-line taxation and
personal finance services along with off-line services like filing.
The Bank has entered into a wire-transfer arrangement called `Money2India' with the
United Arab Emirates largest foreign exchange house for transfer of funds to India.

2002
ICICI Bank Ltd has informed that the Board of Directors inducted Shri N Vaghul, as an
Additional Director on the Board of the Bank. non-executive whole-time director and also
the non-executive Chairman of ICICI Ltd.
The board of directors of ICICI Bank and ICICI in separate meeting at Mumbai, approved
the merger of ICICI with ICICI Bank. The merger of two wholly-owned subsidiaries of

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ICICI, ICICI Personal Financial Services and ICICI Capital Services, with ICICI Bank was
also approved by the respective Boards. The high courts of Mumbai and Gujarat, and the
Government of India (GOI) as may be required. Consequently, the appointed date of merger
is proposed to be March 31, 2002, or the date from which RBI's approval becomes effective,
whichever is later.
The scheme of amalgamation envisages a share exchange ratio of one domestic equity
share of ICICI Bank for two domestic equity shares of ICICI. As each American
Depositary Share (ADS) of ICICI represents five domestic equity shares while each ADS
of ICICI Bank represents two domestic equity shares, the ADS holders of ICICI would be
issued five ADS of ICICI Bank in exchange for four ADS of ICICI.
ICICI Bank Ltd has informed BSE that Reserve Bank of India on April 26, 2002
approved the merger of ICICI Ltd and two of its wholly owned subsidiaries, ICICI
Personal Financial Services Ltd and ICICI Capital Services Ltd with ICICI Bank Ltd.
ICICI Bank, HPCL launch co-branded Visa Electron Debit Card

2003
Launches micro-finance programmes
ICICI One source deploys new recruitment system
Sets up NRI advisory service
Singapore govt offloads 2-cr shares of ICICI Bank
Bank chief K V Kamath appointed head of finance panel for river linking project
Launches 'Give2India' to facilitate donations by NRIs
Comes out with a bond issue of Rs 400 crore
Installs Telugu language ATMs in Hyderabad
Launches 'ICICI Bank Pure Gold'-certified and tamper proof 24-carat pure gold coins in
Chennai
Collects over Rs 1,200-cr via first bond issue
Obtains 'excellence in retail banking' award

instituted by the Singapore-based Asian

Bankers Journal
ICICI Bank-led combine gets approval for Nationwide Multi Commodity Exchange
(NMCE) set up
Bio Serve takes up about 3,000 sq.ft space at the ICICI Knowledge
Park to set up a contract research lab
Sets up integrated currency management center in Pune

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HDFC, ICICI buy 33-pc stake in Hindustan Coca-Cola Beverages, the

Ties up with TeNet for micro-banking
Starts 12-hours banking services

ICICI Bank restructures organisational structure

Records Rs 8000-cr securitisation during '02-03

Tops NPA recovery list among domestic lenders

Bahrain Monetary Agency issues licence to ICICI Bank's overseas unit. It also extended a
special concession for offering NRI banking services in the island nation as well as in the
international markets

2004
Launches a new service for pre-paid subscribers of Airtel, Hutch,
Orange and IDEA in association with Euronet to recharge cards throughbank's ATMs or
by sending SMS.
ICICI Bank has signed a deal with SunTec Business Solutions PrivateLtd
ICICI Bank unveils Visa Card in UK
ICICI Bank in ally with CESC launches new co-branded credit card
Godrej Sara Lee ties up with ICICI Bank to finance distributorsacross the country through
the channel financing model
Hindustan Petroleum Corporation Ltd (HPCL),

ICICI Bank on December 23rd launches

Drivesmart
ICICI Bank ties up with Air Deccan
Punjab and Sind Bank (PSB) and ICICI Bank on July 02 announced thelaunch of cobranded credit card that will be available in three variants - Gold, Silver and Blue credit
card
ICICI Bank in association with Reliance Infocomm has launched an interactive mobile
banking service in India
ICICI Bank unveils multi-branded card
ICICI Bank has introduced a pre-approved personal loan product for
Global Trust Bank (GTB) customers
ICICI Bank bags Internet awards from Global Finance magazine
ICICI Bank Home Loans and ICICI Bank Home Search have launched `Home
Utsav', a property exhibition at the Institute of Engineers

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2005
ICICI Bank as outperformer: CLSA report
ICICI Bank buys Apnaloan
ICICI Bank Home Loans launched a `Home Utsav' property exhibition onAugust 18th
Bharti Tele-Ventures on September 19 announced a tie-up with ICICIBank and Visa to
launch credit card on the mobile phone
ICICI Bank rolls out travel smart MasterCard
ICICI wins Microsoft Corporate Challenge
ICICI Bank teams up with Hong Kong's Bank of East Asia to offer services to its clients
with operations in greater China.
ICICI Bank inaugurates 1st branch in Hong Kong
ICICI bank ties up with Grameen Foundation USA to set up GrameenCapital India.
ICICI Bank's 0 million American depository shares (ADS) issue hasbeen subscribed six
times the issue size. The issue closes tomorrow concurrently with the Rs 5,750 crore
public issues of equity shares in the domestic market. The domestic issue has received
subscriptions for1.86 times the 9.90 crore shares on offer.

2006
ICICI Bank sets up Russian subsidiary
ICICI bank teams up with Spanish MNC.
ICICI Bank inks MoU with Mitsubishi UFJ Securities Indian inks deal with ICICI Bank
Dish man inks mncs deal with ICICI Bank
ICICI Bank has inked a memorandum of understanding with Export Development
Canada (EDC), a Canadian export credit agency, for financing support to Indian
purchasers of capital goods and professional services from Canada.

2007
ICICI Bank has come out with loan-on-the-spot (LOTS) product for car loans.
ICICI Bank is looking at increasing its share of the growing Indian remittance market.
ICICI Bank on February 8 rolled out a rupee-denominated remittance card that is
primarily targeted at beneficiaries of non-resident Indians (NRIs).
Indian Railways and ICICI Bank inked a memorandum of understanding for extending
the sale of e-tickets via merchant establishments located in 125 cities across the country.

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ICICI bank mops up 0mn through five-year bond.BMW India and ICICI Bank on
February 23 signed an agreement foroffering financing solutions that will benefit
theprospectivebuyers.
ICICI Bank inks agreement with Emirates Bank.
CRISIL assigns highest ratings to ICICI Bank's loan receivables securitization
programmer.
ICICI Bank on declared a Rs 100-crore fund to support innovation and development of
green businesses in India.
Source date - Prospects - 19/06/2007
ICICI Bank mops up .9bn in via share sale in India.
ICICI mops up Rs 1,294cr through green-shoe option.
ICICI Bank signs pact with Korea Exim Bank.
ICICI Bank has slashed the rates on special deposit schemes by 50 basis points from
9.5percent to 9 per cent.

2008
ICICI Bank Ltd has informed that the Government of India has nominated Shri. Arun
Ramanathan, on the Board of the Bank effective January 18, 2008 in place of Shri. Vinod
Rai who has resigned effective January 06, 2008.
ICICI Bank has forayed into Rs 1,150-crore equity-cum-debt deal with Jaypee Infratech,
which is to build and operate the 165-km six lane Taj Expressway linking Noida with
Agra.
Standard & Poor's Ratings Services lowered ICICI Bank Ltd.'s 0 million U.S. commercial
paper program's short-term issue credit rating to 'A-1' from 'A-1+', following the agency's
downgrade of Fortis Bank SA/NV.

2009
ICICI Bank appointed N S Kannan as the Executive Director and Chief Financial Officer
on the board with effect from May 1 following the vacancy caused by the elevation of
Chanda Kochhar as Managing Director and CEO of the bank, with effect from May.
ICICI Bank has announced the cut in the interest rates on floating home loans for new
borrowers by 25-50 basis points, with immediate effect. The interest rates on existing
home loans would reduce only if the floating reference rate is cut.

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ICICI Bank with Singapore Airlines launched ICICI Bank Singapore Airlines Visa
Platinum Credit Card, the Card has exclusive privileges especially designed for the
members.
ICICI Bank Limited acting through its Hong Kong Branch (ICICI Bank) signed a loan
agreement with the Export-Import Bank of China (China Exim) for USD 98 million under
the Two- step Buyer Credit (Export Credit) arrangement. ICICI Bank is the first Indian
Bank to have entered into this arrangement with China Exim.

2010
ICICI Bank has increased deposit rates on select maturities. The bank has raised the
interest rate on deposits maturing in 270 days to less than one year by 25 basis points to
5.75 per cent for deposits of Rs 15 lakh to Rs 1 crore.
ICICI Bank increased its deposit rates in select tenures by up to 0.50% with instant effect,
signalling hardening of interest rates in the industry.
ICICI Bank launches website in Hindi.
ICICI Bank opens first retail branch in Singapore.
RBI approves the amalgamation of Bank of Rajasthan Ltd with ICICI Bank Ltd.
First private sector Bank to inaugurate its 2000 Branch.
ICICI Bank gets Qualified Full Banking privileges in Singapore.

2011
ICICI Bank offers cash withdrawal at POS terminals
ICICI Bank & Vodafone Essar ink pact for financial inclusion
ICICI Bank & Aircel sign MoU for financial inclusion
ICICI Bank & Indian Army sign MoU for banking services
ICICI Bank and Intuit launch Money Manager

ICICI Bank launches EMV Standard Cards

ICICI Bank Limited Opens Second Retail Branch in Singapore
ICICI Bank launches the first dual Platinum Credit Card
ICICI Bank closes the first rupee Credit Default Swap transaction

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2012
ICICI Bank opens its second branch in Hong Kong
ICICI Bank rolls out 25 electronic branches and launches many next generation banking
solutions

ICICI Bank was the first private sector bank in India to offer PPF account facility at all
bank branches.
Among the first banks to introduce account portability and also the only bank to offer
portability on two additional channels - Internet banking and Phone Banking.
ICICI Bank launches first Electronic Toll Collection project on NH-1. A first of its kind
project initiated by the Ministry of Road, Transport & Highways, National Highway
Authority of India (NHAI) and ICICI Bank.

ICICI Bank receives approval from RBI to set up an Infrastructure Debt Fund. It is the
first debt fund to get government's go ahead.

ICICI Bank launches its official Facebook Page. First bank in India to offer one-of-its
kind Your Bank Account Applications, which allows access to bank account information
on Facebook.

2013
CLSA maintains ICICI Bank as its top pick in banking space; scrip

rallies to 4-year

high

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2.2 products & services

The bank business & its Service is divide in to four segments
Retail
Corporate
Merchant
Treasury
Apart from that banking & its services also involved in the investment banking, mortgage
financing, credit cards & depository services amongst others.

Personal Banking
Personal Banking offers:-

Account
Zero Balance Savings Account
Krishi Savings Account
Easy Access Savings Account
Prime Savings Account
Corporate Salary Account
Womens Savings Account
Demat Account
Senior Citizens Account
Defence salary Account
Trust/NGO Savings Account
Resident Foreign Currency (Domestic) RFC(D) Account
Azzadi - No Frills
Pension Savings Account

Deposits
Fixed Deposits
Recurring Deposits
Encash 24
Tax Saver Fixed Deposit

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Loans
Home Loan
Car Loan
Personal Loan
Loan Against Shares
Loan Against Property
Loan Against Security
Study Loan
Consumer Loan

Cards
Credit Cards
Debit Cards
Prepaid Cards

Insurance
Life Insurance - 1) Life Insurance Products 2) 5 For Life
Health Insurance - 1) Family Health 2) Silver Health Motor
Insurance
Jewellery Insurance
Personal Accident - Safe Guard
Home - 1) Safe Home 2) Safe Home Plus
Travel Companion
Critical Illness
Business advantage

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Payments
Bill Pay
Electronic Clearing Service

Tax Payments :-1) Tax e-Payments 2) Direct Tax Payments 3) Pension Disbursement

Other Services
Mobile Refill
Locker
Online Shopping
IPO Smart
E-Statement

Corporate Banking
Accounts
Normal Current Account
Business Advantage Account
Business Select Account
Business Classic Account
Business Privilege Account
Channel One Account
Current Account for Govt. Organizations
Current Account for Banks
Business Global Current Account
Capital Market Current Account

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Krishi Current Account

Current Account for Builders & Real Estate

Treasury
Forex
International Business
Money Market
Constituent SGL Facilities
Retailing of Government Securities

Priority Banking
Accounts

Resident - It not only ensures the highest level of Priority but also preferential treatment
to selected customers like you.

NRI - It permits a NRI to hold and maintain foreign currency earnings in Indian rupees.

Accounts
NRE Savings Account
NRO Savings Account
NRI Prime Account
NRI Priority
Portfolio Investment Scheme(PIS) Account
NRE Salary Account
Resident Foreign Currency (RFC) Account

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Services
PAN Assistance
Locker
NRI Local Post Box

Deposits
NRE Rupee Deposit
NRO Rupee Deposit
FCNR Deposit
RFC Term Deposit

Remittances
Axis Remit
SWIFT
Partner Banks
Exchange House Tie-ups
NRI Connect

Other Services
Mobile Refill
Locker
Online Shopping

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Services
Personal Banking
Deposits & Loan for Pensioners
Recurring Deposits Loan against Mortgage of Property
Housing Loan Loan against Shares & Debentures
Car Loan Rent plus Scheme
Educational Loan Medi-Plus Scheme

Other Services
Agriculture/Rural Banking
ATM Services
Demat Services
Corporate Banking
Internet Banking
Mobile Banking
Safe Deposit Locker
RBIEFT
E-Pay
E-Rail
SBI Vishwa Yatra Foreign Travel Card

Broking Service Customers satisfaction

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2.3 Organization Structure.

ORGANIZATOIN STRUCTURE
Chairman

Vice Chairman

Board of Directors

Chief Executive Officer

(General Manager)

Executives
(Assistant General Managers)
(Additional General Managers)

Officer
(Senior Officers) (Junior Officers)

Clerk

Sub Staff Members

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BRANCH LEVEL ORGANIZTION STRUCTURE

Additional Managers
(Senior Officers)

Special Assistant

Cashiers

Sub Staff Members

2.4 VISION OF ICICI BANK

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

MISSION OF ICICI BANK

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
products and services.

Expand the frontiers of our business globally.

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

Maintain a healthy financial profile and diversify our earnings across businesses and
geographies.

Maintain high standards of governance and ethics.

Contribute positively to the various countries and markets in which we operate.

Create value for our stakeholders.

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2.5 AWARDS & RECOGNITION

2012- 2013

For the third year in a row, Ms. Chanda Kochhar, Managing Director & CEO, is in the
Power List 2013 of 25 most powerful women in India, by India Today.

ICICI Bank awarded the Most Admired Infrastructure Debt Financer and PPP Project of
the Year: Yamuna Expressway Project, in the 5th KPMG Infrastructure Today Awards
by ASAPP Media Information Group, publishers of Infrastructure Today in association
with KPMG

For the 4th consecutive year, ICICI Bank won the Celent Model Bank for the next
generation technology oriented banking solutions.

ICICI Bank was awarded a "Special IT Innovation Award" by Lenovo - NASSCOM and
CNBC-TV18.

ICICI Bank was the winner of "6th Loyalty Awards" for My Savings Rewards by
AIMIA (global leader in Loyalty).

ICICI Bank UK PLC's online savings product HiSAVE won the "Highly Commended"
(2nd rank) at the Consumer Moneyfacts Awards.

Ms. Chanda Kochhar awarded the Businessperson Of The Year 2012 by Business India.
She is the first woman recipient of this award in 31 years.
ICICI Bank won the Best domestic bank, India by The Asset Triple A Country Awards.
ICICI Bank received the "Dataquest Technology Innovation Awards 2012" for Data
canter migration by Dataquest.

For the second consecutive year, ICICI Bank won the NPCI's NFS Operational
Excellence Awards in the MNC and Private Sector Banks Category for its ATM
network.

Mr.K.V.Kamath was awarded the "Hall Of Fame" by Outlook Money for his long
standing contribution in the financial services sector.

ICICI Bank won the Best Bank - India Award by The Banker.

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Ms. Chanda Kochhar ranked 18th in the Fortune's list of '2012 Businesspersons of the
Year'. The 50 global leaders is Fortune's annual ranking of leaders who are "the best in
business".
Ms. Chanda Kochhar tops the list of "50 Most Powerful Women in Business" by Fortune
India.
ICICI Bank tops the list of "Private sector and Foreign Banks" by Brand Equity, Most
Trusted Brands 2012. It ranks 15th in the "Top Service 50 Brands".
For the third consecutive year, ICICI Bank ranked second in "India's

50 Biggest

Financial Companies" in The BW Real 500 by Businessworld.

Ms. Chanda Kochhar tops the list of "50 Most Powerful Women in Business" by Fortune
India.
ICICI Bank tops the list of "Private sector and Foreign Banks" by Brand Equity, Most
Trusted Brands 2012. It ranks 15th in the "Top Service 50 Brands".
For the third consecutive year, ICICI Bank ranked second in "India's

50 Biggest

Financial Companies" in The BW Real 500 by Business world.

For the second year in a row, Ms. Chanda Kochhar, Managing Director & CEO was
ranked 5th in the International listing of 50 Most Powerful Women In Business by
Fortune.

ICICI Bank in the Private Sector Bank category won the Best Technology Bank of the
Year, Best Financial Inclusion Initiative and Best Use of Technology in Training and eLearning by Indian Bank's Association (IBA) Technology Awards. The Bank also
received the first runner up for Best Online Bank, Best Customer Relationship Initiative
and Best Use of Mobility Technology in Banking by IBA Technology Awards.

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CUSTOMERS SATISFACTION
Customer satisfaction refers to the extent to which customers are happy with the products and
services provided by a business.
Customer satisfaction levels can be measured using survey techniques and questionnaires

DEFINITIONS:
Definition 1: Customer satisfaction is equivalent to making sure that product and service
performance meets customer expectations.
Definition 2: Customer satisfaction is the perception of the customer that the outcome of a
business transaction is equal to or greater than his/her expectation.
Definition 3: Customer satisfaction occurs when acquisition of products and/or services
provides a minimum negative departure from expectations when compared with other
acquisitions.
Gaining high levels of customer satisfaction is very important to a business because
satisfaction customers are most likely to be loyal and to make repeat orders and to use a wide
range of services offered by a business
There are many factors which lead in high levels of customer satisfaction including.
Products and services which are customer focused and hence provide high levels of value for
money.
What is clear about customer satisfaction is that customers are most likely to appreciate the goods
and services that they buy if they are made to feel special. This occurs when they feel that the
products and services that they buy have been specially produced for them or for people like
them.

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BENEFITS OF CUSTOMER SATISFACTION

The importance of customer satisfaction and support is increasingly becoming a vital
business issue as organization realize the benefits of Customer Relationship Management
(CRM) for providing effective customer service. Professionals working within customerfocused business or those running call centers or help desks, need to keep informed about the
latest customer satisfaction techniques for running a valuable customer service function.
From small customer service departments to large call centers, the importance of developing
a valued relationship with customers using CRM is essential to support customer and longterm business growth.

What Do Customers Want?

Before we begin to create tools to measure the level of satisfaction, it is important to develop a clear
understanding of what exactly the customer wants. We need to know what our customers
expect from the products and services we provide.
Customer expectations have two types Expressed
Implied

Expressed Customer Expectations are those requirements that are written down n the
contract and agreed upon by both parties for example, product specifications and delivery
requirements. Suppliers performance against these requirements is most of the items directly
measurable.
Implied Customer Expectations are not written or spoken but are the ones the customer would
expect the supplier to meet nevertheless. For example, a customer would expect the service
representative who calls on him to be knowledgeable and competent to solve a problem on
the spot.
There are many reasons why customer expectations are likely to change overtime. Process
improvements, advent of new technology, changes in customers priorities, improved quality of
service provided by competitors are just a few examples.

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The customer is always right. Suppliers job is to provide the customer what he/she wants, when
he/she wants it. Customer satisfaction is customers perception that a supplier has met or exceeded
their expectations.

WHAT CONSTITUTES SATISFACTION?

We cannot create customer satisfaction just by meeting customers requirements fully
because these have to be met in any case. However failing short is certain to create
dissatisfaction
Major Attributes of customer satisfaction in banking industry can be summarized as:
Product quality
Premium Outflow
Return on Investment
Services
Responsiveness and ability to resolve complaints and reject reports.
Overall communication, accessibility and attitude.

WHAT ARE THE TOOLS?

Customer expectations can be identified using various methods such as:
Periodic contract reviews
Market research
Telephonic interviews
Personal visits
Warranty records
Informal discussions
Satisfaction surveys

Depending upon the customer base and available resources, we can choose a method that
is most effective in measuring the customers perceptions. The purpose of the exercise is

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to identify priorities for improvements. We must develop a method or combination of

methods that helps to continually improve service.

CUSTOMER SATISFACTION SURVEYS

Formal survey has emerged as by far the best method of periodically the customer
satisfaction. The survey are not marketing tools but an informationgaining tool. Enough
homework needs to be before embarking on the actual survey. This includes:
Defining Objectives of the Survey
Design Survey approach
Develop questionnaires and forms
Administer Survey (Email, Telephone or Post)
Method of compiling data and analyzing the findings
Format of the report to present the findings
There is no point in asking irrelevant questions on a customer satisfaction questionnaire. The
basic purpose is to find out what we are doing right or wrong. Where is the scope for
improvement, where do we stand vis--vis other suppliers. How we can serve the
customer better?

A customer satisfaction measurement survey should at least identify the

following

objectives:
Importance to customers (Customers priorities)
Customers perception of suppliers performance Your
performance relative to customers priorities. Priorities
for improvement

Survey forms should be easy to fill out with minimum amount of time and efforts on
customers part. They should be designed to actively encourage the customer to complete the
questions. Yet they must provide accurate data should also be sufficiently reliable for
management decision making. This can be achieved by incorporating objective type
questions where customer has to rate on scale of say 1 to 10. For repeated surveys, you

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could provide the rating that was previously accorded by the customer. This works like a
reference point for the customer.
Space should always be provided for the customers own opinions this enables them to state any
additional requirements or report any shortcomings that are not covered by the objective
questions.
Normally, we deal various personnel at various levels in the customers organizationthe buyer,
user, receiving inspector, finance and purchase person etc. surveying a number of respondents
for each customer gives a complete perspective of customer satisfaction. It may be necessary to
device a different questionnaire for each of them.
Respondents must be provided a way to express the importance they attach to various survey
parameters. Respondents should be asked to give a weighting factor, again on a rating scale of say,
1 to 10, for each requirement. This gives a better indication of relative importance of each
parameter towards overall customer satisfaction and makes it easier for suppliers to prioritize
their action plans by comparing the performance rating (scores) with importance rating
(weighing).

CONSUMER RESEARCH IN DIFFERENT DISCIPLINES

A considerable body of literature exists on consumption, consumer behavior and consumer
decision making process.
Most of the consumer research focused on adopter categories, habits, attitudes and intentions rather
that on actually measuring the satisfaction level with the service.

CONSUMER SATISFACTION PROCESS

The paramount goal of marketing is to understand the customer and to influence buying
behavior.
The process can be depicted as follows:

Need recognition- realization of the difference between the desired and the current
situation that serves as a trigger for entire process.

Search for information.

Pre purchase alternative evaluation.

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Consumption(utilization of the procured option)

Post purchase alternative re-evaluation.
Divestment(disposal of the unconsumed product and its remnants)
WAYS FOR MAINTAINING RELATIONS WITH THE CUSTOMERS ADOPTED BY
ICICI Bank
The ability of the banking industry to achieve the socio-economic objectives and in the
process bringing more and more customers into its fold will ultimately depend on the
satisfaction of the customers. We have a strong belief that a satisfied customer is the foremost factor
in developing our business.
A need was felt by us at ICICI Bank that in order to become more customers friendly the
Bank should come out with Charter of its services for the customers. Citizens' Charter
concept was considered as a base instrument to fill this need and accordingly this document
was prepared. This document was made in consultation with the users and highlights our
Bank's commitments towards the customer satisfaction, thus ensuring accountability and
responsibility amongst its officials and staff. This Code for customers not only explains our
commitment and responsibilities along with the redressed methods but also specifies the
obligation on the part of customers for healthy practices in Customer-Banker relationships.
This is not a legal document creating rights and obligations. The Code has been prepared to
promote fair banking practices and to give information in respect of various activities relating to
customer service.
We wish to acknowledge the initiative taken by the Ministry of Finance, Government of India and
Ministry of Administrative Reforms and Public Grievances for encouraging us to bring out this
Code.
We maintain constant consultations with our clientele through various Seminars, Customer Meets,
etc. to evaluate improve and widen the range of service to customer. However, all our customers are
requested to keep us informed of their experiences about the various services rendered by the
Bank and feel free to comment on this Code. We intend to bring it out in many Regional
Languages in subsequent years.

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COMMON PRACTICES FOLLOWED BY ICICI BRANCHES

Display business hours.
Render courteous services.
Attend to all customers present in the banking hall at the close of business hours.
Provide separate 'Enquiry' or 'May I help you' counter at large branches.
Offer nomination facility to all deposit accounts (i.e. account opened in individual capacity) and
all safe deposit locker hirers (i.e. individual hirers).
Display interest rates for various deposit schemes from time to time.
Notify change in interest rates on advances.
Provide details of various deposit schemes/services of the Bank.
Issue Demand Drafts, Pay Orders, etc.
Display Time-Norms for various banking transactions.
Pay interest for delayed credit of outstation cheques, as advised by Reserve Bank of India
(RBI) from time to time.
Accord immediate credit in respect of outstation and local cheques up to a specified limit
subject to certain conditions, as advised by RBI from time to time.
Provide complaint/suggestion box in the branch premises.
Display address of Regional/Zonal and Central Offices as well as Nodal Officer dealing with
customer grievances/complaints.

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What is research?
Research is a process of collecting, analyzing, interpreting and summarizing in a significant
manner for the purpose of framing out necessary conclusion and findings of data perceived and
formulated for deriving out the meaningful information. To carry our research necessary
telephonic calls needed to be done, suitable appointments were to be fixed and therefore
market survey is to be followed.
RESEARCH METHODOLOGY
Marketing research is the function that links an organization to its market through the
gathering of information. This information allow for the identification and definition of
market-driven opportunities and problems. The information allow for the generation,
refinement and evaluation of marketing actions. It allows for the monitoring of marketing
performance and improved understanding of marketing as a business process.
4.1 Title of research study
OUR RESEARCH STUDYS TOPIC IS CUSTOMER SATISFACTION ON
EDUCATION LOAN WITH REFRENCE TO ICICI BANK IN AHMEDABAD
REGION
4.2 Research Objective
Our main objective of this research is to find out the level of customer satisfaction of the
persons who have taken the education loan specifically for the people belonging to
Ahmedabad region.
4.3 Nature of research study
Research Design is the conceptual structure within which research is conducted. It
constitutes the blueprint for collection, measurement and analysis of data. The design used
for carrying out this research is Descriptive.

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4.4 Sampling Plan

Our area of the research study is Ahmedabad.
Our target population is persons having there saving account in ICICI bank.
Our sampling unit is 100.
Our sampling technique is convenient sampling.
4.5 Data collection design
In our project we use both method Primary data and secondary data.
1) Primary data:
The data, which are collected for the first time and direct from the responded
have primary nature.
Ex: Direct contact, Questionnaire. . .
2) Secondary data:
Data are already available and for collecting the data communication method has been
selected.
Ex: Books, Websites, Magazine, Brochure. . .
4.6 Data collection method:

The researcher has conducted personal interview method because it is helpful in asking more
questions and in taking suggestions about the product from the respondent.

4.7 Data collection instrument

The researcher has used questionnaire as a research instrument which consisted of
structured questions and the satisfaction level of customer is measured on the basis of likert
type scale. Questionnaire was used as an instrument and asked closed ended questions as
there was need for analysis and interpretation.

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DATA ANALYSIS:
The analysis of data was carried by using statistical package for social sciences (SPSS)
version 15.0...followings were findings of the study.

Table 1: Demographic Profile of Respondents

Demographic variable
Gender

Occupation

Age

Are you belonging to.

Educational
qualification

Sub
categorization
Male
Female
Total
Business
Service
Student
Others
Total
18-25
25-30
30-35
Total
Village
Town
City
Metro city
Total
10+2 or below
Graduate
Post graduate
Total

No. of
Respondents
66
34
100
21
30
44
5
100
56
32
12
100
14
6
67
13
100
9

Valid
Percent
66
34
100
21.0
30.0
44.0
5.0
100
56.0
32.0
12.0
100.0
14.0
6.0
67.0
13.0
100.0
9.0

Cumulative
percentage
66
100

68
23
100

68.0
23.0
100.0

77.0
100.0

21.0
51.0
95.0
100
56.0
88.0
100
14.0
20.0
87.0
100.0
9.0

Interpretation
The above table indicates the demographic profile of the respondents.

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On the basis of gender

Frequency

Female
34%

Male
66%

On the basis of gender one can mainly interpret about the whether any change observed in the
behavior of bank on the demographic bases from the side of the bank to provide education loan
to the male & female both but one can necessarily say that still today acquisition of education
loan is more taken place by male onwards at larger in amount in co mparison to female as today
also the male associated with their profession & responsibilities therefore they adopt to have the
education loan.

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On the basis of occupation

This occupation would definitely be helping the person that what type of capability the
person himself is having to acquire to have the education loan. These would definitely be
helpful in defining the motive of person too for the acquisition of loan too.

On the basis of age

Age
30-35
12%
25-30
32%

18 -25
56%

As you can see definitely what type of age group clearly person want to acquire the education
loan onwards. Teen agers mostly want to have the education loan afterwards there is age for
the person who wants to do the masters or doctorate purpose too onwards. This age group
also indicates somewhat there level of maturity & independency about their career too.

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Are You Belonging To

Are you belonging to

metro city
13%
village
14%

town
6%

city
67%

From which state does the person is belonging these would definitely be helpful to know
whether he is aware about to have the education loan or not & he is quite enough capable to fulfill
the process of education loan or not.

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Educational qualification at the time of application

Educational Qualification
10+2 or below
9%

post graduate
23%

graduate
68%

What type of educational qualification does the person is having & for which level of higher
education does the person is demanding to have the education loan onwards. These would help
to know about his vision to have the education loan onwards too.

Primarily utilization

Primary Utilization
to secure
admission in
good college
17%

to become
independent
9%

tostudy
overseas
37%

finacial
instabilitry
37%

From the graph onwards the person can interpret the reason to have the primary utilization of
education loan onwards too. On large scale one can see onwards that reason was primary
utilization maximum onwards is as because such of due to study overseas & mainly of the
financial stability too.

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You have your saving a/c

Saving A/C
AXIS Bank
8%
OTHER
19%
SBI Bank
12%
ICICI Bank
61%

This interpretation indicates that when so ever if person is having the education loan the
amount of that education loan would transferred onwards in to the saving a/c .

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Education loan was taken for

other category
7%
professional
course
30%

normal course
63%

Inrepritetion:As we can interpret from the above figure onwards that normal course includes courses such
as B.Com, BBA etc, professional course includes courses such as MBA, MCA & above from
that onwards too, other category include as such of 10 th & 12th studies onwards too. Here
we can say that mainly persons want to acquire normal course so that in the future onwards his/
her bachelors degree would be the preliminary condition to pursue any of the other activity
more in the future & what is the specified purpose of the course for which person wants to have
the education loan.

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Duration of course for which loan granted

Duration of Course
4-5year
8%

1-2 year
10%

3-4year
29%
2-3year
53%

Inrepritetion:From the above data it can be interpreted that these duration of course plays important role.
Depending upon that amount of loan is granted to the person. Apart from that of the primary
requirements are also taken in to consideration with this duration of course & providing them
facilities.

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Monthly income of your father

Fathers monthly income

Above 50000
9%

35000 to
50000
19%

15000 to 25000
41%

25000 to
35000
31%

Inrepritetion:This income of family interprets about the financial stability which would be supportive
matter to the person for the taking of education loan. If the person is taking education loan on
himself dependency than apart from these for the repayment of education loan & its
financial background plays very important role to have the education loan.

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Grace period offered by bank

Grace Period
Pass+1 year
12%

Course
complete +3
year
43%

Job
receipt+1
Year
20%
Course
complete +
2 Year
25%

Inrepritetion:This grace period interprets about after completion of course what amount should be paid to him
after completion of his education & securing his job until that time person may not become
financially weak for that purpose education loan is taken.

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ICICI BANK

RELIABILITY ANALYSIS
As far as there liability of construct is concerned, the crobach alpha coefficient turned out to
be 0.738 that is sufficiently higher than acceptable standard of

(0.5) (kline, 1998)

demonstrating internal consistency and reliability of the established scales.

To further determines the reliability of the data kaiser -meyer- olkin (KMO) and anti-image
correlation was also determine. In this report reliability is near about (0.738). Reliability
coefficient is around (0.9) can be consider excellent, (0.8) can be consider very good, and (0.7)
can be consider adequate. (kline, 1998).

Reliability Statistics
Cronbachs Alpha

No. of Items

0.738

13

SAMPLING ADEQUACY
KMO and anti-image correlation matrix were constructed for checking out the sampling
adequacy of the data. The value of KMO came out to be (0.778) shown in table, indicating
that the factor analysis test can be proceeded correctly and the samples used is adequate ( The
minimum acceptable value of KMO as supported by Othman and Owen(2001) is (0.5).
KMO and Bartlett's Test
Kaiser-Meyer-olkin measureof samplingadequacy
Bartlerrs test of sphericity approx chi-square

.713
222.86

Df
Sig

78
.000

Anti-image correlation measure also depicted the diagonal value of all remaining variables to
be greater than 0.50 and of all the off diagonal values to be less than 0.50. therefore, it can be
conclude that the matrix did not suffer from the problem of multicollinearity or singularity.

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SUITABLE FOR TESTING MULTIDIMENSIONALITY

In order to test the Multidimensionality of the variable, Bartett test of Sphericity and
correlation were conducted. The result of the Bartlett test of Sphericity turned out to be
highly significant (sig = 0.000), which indicated that the factors analysis and auditable for
testing multidimensionality (Othman and qwen, 2001). The correlation matrix also depicted
high correlation among the variables certifying of factors analysis technique on the data.
Initial Eigen values

Total

% of

Cumulativ

variance

e%

Extraction sums of squared

Rotation sums of squared

loadings

loadings

Total

Cumulative

variance

Total

Cumulative

variance

3.225

24.811

24.811

3.225

24.811

24.811

1.988

15.289

15.289

1.552

11.704

36.515

1.522

11.704

36.515

1.890

14.535

29.823

1.302

10.013

46.528

1.302

10.013

46.528

1.573

12.103

41.927

1.161

8.9394

55.462

1.161

8.934

55.462

1.401

10.778

52.705

1.004

7.725

63.187

1.004

7.725

63.187

1.363

10.482

63.187

After conducting cronbach alpha reliability analysis, principal factors analysis was performed on the
data. Principal factor analysis was performed on the data. Principal factors analysis identified a
level of customer satisfaction towards education loan ,the goal of this analysis is to summarize the
data set from survey as accurately as possible using few factors. After deleting of 8 statements
in the component matrix. We found five factors.

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ROTATED COMPONENT MATRIX

Rotated Component Matrix

Question 2
Question 3
Question 4
Question 6
Question 7
Question 11
Question 13
Question 8
Question 10
Question 9
Question 1
Question 5

Component
1
2
0.793
0.737
0.731
0.725
0.693
0.680

0.808
0.707
0.838
0.551
0.685
0.679

From the above table we can say that there are 5 groups (factors) will be made. First
factor will containing four sentences from question numbered 2, 3, 4. Second factor
containing question numbered 6,7,11.
Third factor containing question numbered 13,8.
Fourth factor containing question numbered 10,9.
& fifth factor would include questions numbered 1,5.

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TABLE

SUMMARY OF FACTORS UNDERLYING THE CUSTOMER SATISFACTION OF

EDUCATION LOAN
FACTOR
NO.
F1

FACTOR NAME

STATEMENTS INCLUDE IN FACTORS

FAVOURABLE
PROCESS WITH
HELPING NATURE.

0.793
0.737
0.731

1.HASSEL FREE PRACTICE

2.COMPLICATED PROCESS
3.FAVOURABLE REPLY

F2

SATISFACTION
WITH TERMS &
CONDITIONS

0.725
0.693
0.680

1. SATISFACTION OF EXPENSES
2.
EXTRA CARE OR EXTRA
FACILITIES
3. TERMS & CONDITIONS

F3

OVERALL
SATISFACTION WITH
BANK

0.808
0.707

1.OVEREALL SATISFACTION
2. APPROACH OF EMPLOYEES

F4

RETURN OF MONEY

F5

BENEFITS
&
DEMANDS

0.838
0.551
0.685
0.679

1.GRACE PERIOD
2. REPAYMENT CONDITIONS
1. LOW INTEREST RATE
2. COLLATERAL SECURITY

LOADING

FACTOR 1:- Favourable process with helping nature

From the above factor we can interpret about the practices which are carried out for the
customer. The intial eign value is 3.225% & variance is 24.811 %. Specially in Ahmedabad
region people wants to have the practice with the bank which is helpful to bank & customers
both. Factor 1 clearly indicates about the nature of dealing with the customers without any
hesitation & fulfilling their deals & requirements. The factor 1 takes in to consideration
mainly about the process as such without hassel free practice, uncomplicated process,
favourable reply. How & what type of services does customers clearly demands while
interacting with the bank to acquire their service onwards too

these all the afctors can be

combined & converted in to one factor as such of favourable reply with helping nature.

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FACTOR 2:- Satisfaction with terms & conditions

From the above factor we can interpret about the satisfaction of customer with what rules &
regulations do the company is running. Does those rules & regulations which are granted &
framed for the satisfaction of consumer does they are favourable to the customer or not. The
initial eign value is 1.552 & variance is 11.704% . the above factor namely contains three main
sentences which include the satisfaction of expense , extra care or extra facilities, terms &
conditions. These all the three things can be bound to be obtained if we club all the three
sentences including one factor as such satisfaction with terms & conditions.
FACTOR 3:-Overall satisfaction with bank
From the above factor we can interpret about the overall satisfaction level of customer with the
bank. These overall satisfaction mainly includes two sentences as such which clearly implies
about overall satisfaction of customer & apart from that approach of the employees too. The
initial eign value is 1.302 & variance of 10.013%. So it is very necessary if customer is satisfied
overall than it is but natural he would be satisfied with the way towards there approach of
employees.
FACTOR 4:- Return of money
From the above factor we can interpret about the how does the return of money is made
possible with the bank to customer in terms of rules & regulations which are framed for the
customer onwards too. This return of money mainly takes in to consideration two mentioned
sentences as such of the grace period & repayment conditions onwards too. The initial eign
value is 1.161 & variance is 8.9394%. There must be proper grace period & proper
repayment conditions too which must be helpful to the customers onwards to build & have
their successful future onwards too with proper return of its money & acquisition too.

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FACTOR 5:- Benefits & demands

From the above factor one can always interpret about what type of benefit mainly person is
going to acquire while having its

education loan with the bank & demands which so ever

required by the bank too to have education loan.

The initial eign value is 1.004% & 7.725%

of variance onwards too. Thus these is how any of the person would be definitely demanding
about to have the education loan with low interest rate & necessary approval with bank are
always takes in to consideration as such of collateral security & guarantor to have the
education loan which acts as preliminary condition for the person to have the education loan
onwards too.

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ICICI BANK

Findings

In this survey we found about level of customer satisfaction, services & sales that of
education loan with reference to ICICI bank in Ahmedabad city.

In this survey we found that without any discrimination & Hassel free practices followed
by the ICICI bank towards the consumers of education loan.
In this survey we found that mostly teenagers & persons pursuing for higher degree (e.g.
masters & doctorate) are willing to have the loan.

In this survey we found that H.R policies which are granted over the personnel working
in the bank for the loan facilities are reliable over to them, apart from that rules &
regulations granted over by the bank were also favorable to the consumer for acquiring
that loan & many other facilities for them.
We also came to know that ICICI bank is having one of the prestigious marketing
situations.
ICICI bank has achieved comparative growth in the market because of the benefits &
services which are also granted over to the consumers.
ICICI bank is still leading due to its competitiveness, satisfaction & successful rise
taking place overall in the marketing situation.

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ICICI BANK

Recommendations

Proper lack of awareness must be brought among the people through the marketing
strategy.

Need to train & develop the personnel with more comprehensive knowledge & skills to
counter every query of the customers.

There must be proper departmentation held so that there is no mix up to be taken place
over the personnel working in the bank & with the clients too.

Proper acquisition of resources must be made possible from both sides bank & towards
customer too.

There must be more reliable policies been implemented to the people who are belonging
to OBC, SC & ST.

The personnel is one of the leading person of the bank so it is very much essential being
to take care about them as he plays very vital role towards the success , achievements ,
awards & recognition of the bank.
In short for proper accomplishment of the bank goals & objectives there must be proper
marketing strategies to be taken place but for that proper skilled management graduate must
be placed on the work place.

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ICICI BANK

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ICICI BANK

LIMITATIONS
Although the study was carried out with extreme enthusiasm and careful planning there are
several limitations, which handicapped the research are as follow,
1. Time Constraints:
The time stipulated for the project to be completed is less and thus there are chances that some
information might have been left out, however due care is taken to include all the relevant
information needed.

2. Sample size:
Due to time constraints the sample size was relatively small and would definitely have been more
representative if I had collected information from more respondents.

3. Accuracy:
It is difficult to know if all the respondents gave accurate information;
Some respondents tend to give misleading information.
4. It was difficult to find respondents as they were busy in their Schedule, and collection of data
was very difficult. Therefore, the study had to be carried out based on the availability of
respondents

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ICICI BANK

CONCLUSION

ICICI bank is 3rd leading private bank in the India. At the most consumers are having
trust on the bank, the conclusion is basically drawn regarding the level of customer
satisfaction for education loan with reference to ICICI bank in Ahmedabad region.
The marketing strategies carried out by the bank for creating awareness among the
people & apart from that to achieve the marketing position too are very much essential
onwards.

The financial position of bank is sounded, if bank wants to achieve more success than
there must be proper training & seminars to be conducted to improve the knowledge &
working efficiency of the personnel working over in the bank.

As the persons are facing the financial crisis they are willing to have more services,
products, & loan facilities from the side of the bank to fulfill their objectives.
While critically examining consumer satisfaction towards financial products and
services of the company is a step in their continual mission of making all round
improvements as a means of progress.
We are sure the bank has a very bright future to look forward to and will be a trailblazer
in its own right.
Thus,
ICICI bank is successfully leading bank in the market to fulfill the conditions, situations
of clients by providing them financial strength through the loan, products & services to
the consumers & fulfilling their needs, wants & demands etc.

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ICICI BANK

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ICICI BANK

BIBLIOGRAPHY
www. ICICI bank. Co .in
C.R.Kothari research methodology
Indian Journal of marketing
Fed Ex
Author stream
Bank brochure
Annual report of the bank

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ICICI BANK

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QUESTIONNAIRE
Dear Respondent,
We are student of B.B.A, Sem.-VI, from V.M. PATEL COLLEGE OF
MANAGEMENT STUDIES (KHERVA). As part of our academic requirement for
B.B.A, Sem.-VI, programme, we are doing a research project. Our topic of research
project

is A

STUDY

ON

CUSTOMER

SATISFACTION

LEVEL

OF

EDUCATION LOAN WITH REFRENCE TO ICICI BANK IN AHMEDABAD

REGION. For doing this project, we request you to fill up questionnaire and the
information provided by you will kept confidential and use for academic purpose
only.

PART 1: PERSONAL DETAIL:1: Gender: - [ a ] Male [ b ] Female

2: Occupation
[ a ] Business [ b ] Service
[ c ] Student [ d ] others
3: Age Group
a) 18 to 25
b) 25 to 30
c) 30 to 35
4: Are you belonging to
a)
b)
c)
d)

Village
Town
City
Metro City

5: Educational qualification at the time of application

a) 10+2 or below
b) Graduate
c) Post graduate

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6: Education loan was primarily utilised for

a)
b)
c)
d)

To secure admission in good college

Financial Instability
To Study overseas
To Become Independent

7: In which other banks you have your saving account

a)
b)
c)
d)

AXIS BANK
ICICI BANK
SBI BANK
OTHER

8: Education loan was taken for

a) Professional course____________(pls mention)
b) Normal course _________________(like B.com, BBA)
c) Other category____________________(pls mention)
9: What is the duration of course for which loan granted
a)
b)
c)
d)

1 to 2 year
2 to 3 year
3 to 4 year
4 to 5 year

10: What is the Income of your father monthly

a)
b)
c)
d)

15000 to 25000
25000 to 35000
35000 to 50000
Above 50000

11: What is grace period offered to you by bank

a)
b)
c)
d)
e)

Pass + 1 year
Job receipt + 1 Year
Course complete + 2 year
Couse complete + 3 Year
Other Pls mention______________

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PART 2:-

Questions
No.

1.

ICICI BANK provides Low Interest Rate for Education loan.

2.

ICICI BANK
Education loan

Has Hassel Free Practice With Customers For

3.

The Process for Requirement of Documents For Education loan by

ICICI BANK is not Complicated.
The employees of ICICI BANK gives favourable reply to the
customers for Issue Of Next Fees Draft

ICICI BANK Demands Collateral Security Or Guarantor For

Education Loan
Are you Satisfied with all The Expenses For Education Loan
covered by ICICI BANK
ICICI BANK Provides Extra Care Or Extra Facilities For The
Overseas Students
You Are Satisfied With The Approach Of employees of ICICI
BANK To Customers

You Are Satisfied With The Repayment Conditions For

Education Loan by ICICI BANK
ICICI BANK provides proper Grace Period For Education Loan
Student
You Are Satisfied With The Terms & Conditions Framed For
Education Loan By ICICI BANK

You Are Satisfied With The Services Provided By ICICIC BANK

For Education Loan
You Are over all satisfied With ICICI BANK As Education Loan
Customer

4.
5.
6.
7.
8.
9.
10.
11.
12.
13.

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