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A

Minor Project Report

On

CONSUMER SATISFACTION REGARDING

NEW TECHNOLOGY USE IN ICICI BANK.”

Submitted

In Partial fulfilment for the requirement of

Bachelor of Business Administration

(2015-2018)

UNDER THE GUIDANCE OF

DR. SUMAN YADAV

(ASSISTANT PROFFESOR)

UNDER THE GUIDANCE OF DR. SUMAN YADAV (ASSISTANT PROFFESOR) SUBMITTED BY AKSHAT LUTHRA ENROLLMENT NO. -

SUBMITTED BY AKSHAT LUTHRA ENROLLMENT NO. - 00351401715

[3 RD SEMESTER]

FAIRFIELD INSTITUTE OF MANAGEMENT & TECHNOLOGY

Affiliated To Guru Gobind Singh Indraprastha University,

FIMT Campus, Kapashera,

New delhi-110037

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TABLE OF CONTENTS

S.NO.

TITLE

PAGE NO.

1

Student Declaration

(i)

2

Certificate from Guide

(ii)

3

Acknowledgement

(iii)

4

Executive Summary

(iv)

 

Chapter - 1: INTRODUCTION

 

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1.1 History of Industry

1-5

1.2 About Company Profile

6-18

 

Chapter - 2: LITERATURE REVIEW

 

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2.1 Literature Review &About The Topic

19-20

 

Chapter - 3: RESEARCH METHODOLOGY

 

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3.1 Objective of the study

22-28

3.2 Research Methodology of the study

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Chapter - 4: ANALYSIS& INTERPRETATION

29-38

 

Chapter - 5: FINDINGS & SUGGESTIONS

 

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5.1 Findings

40-41

5.2 Suggestions

10

Chapter - 6: CONCLUSION

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BIBLIOGRAPHY

43

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QUESTIONNAIRE

44-45

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STUDENT DECLARATION

I hereby declare that the project entitled “CONSUMER SATISFACTION REGARDING NEW TECHNOLOGY USE IN ICICI BANK” under the guidance of “ Dr. Suman Yadav” submitted in the partial fulfillment of degree of Bachelor of Business Administration (BBA) from “FAIRFIELD INSTITUTE OF MANAGEMENT AND TECHNOLOGY, New Delhi”. This is my original work and this project work has not formed the basis for award of any degree to the best of my knowledge.

Akshat Luthra

00351401715

Signature of student

Place:

Date:

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CERTIFICATE

This is to certify that the project report entitled NEW TECHNOLOGY USE IN ICICI BANK” submitted by AKSHAT LUTHRA is a bona fide piece of work conducted under my direct supervision and guidance. No part of this work has been submitted for any other degree of any other university. It may be considered for evaluation in partial fulfilment of the requirement for the award of degree of Bachelors of Business Administration.

Date:

Dr. Suman Yadav

(Asst. Professor)

Fairfield Institute of Management & Technology,

NEW DELHI

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ACKNOWLEDGEMENT

I take this opportunity to express my heartiest gratitude to Fairfield Institute of Management & Technology for permitting me to undertake this research and supporting me during this research and otherwise also.

I would like to thank Dr. Suman Yadav who not only played the role of my philosopher and guide but also mentored me at every stage of my project work. I would like to extend my hearty thanks to entire faculty members of BBA department for their constant cooperation and support to take decision during the course of my research. I would also like to thank my parents, my sister and my friends for their support and blessing without which this project could not have been completed. Indeed I shall remain ever grateful to them.

I am also thankful to college library and computer centre management staff for their constant support.

The experience I gained during this research project is of immense importance in the academically and more on professionally.

NAME :.Akshat Luthra

ENROLLMENT NO .-00351401715

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EXECUTIVE SUMMARY

I have completed this project titled “CONSUMER SATISFACTION REGARDING TECHNOLOGY USED IN ICICI BANK” after an in-depth analysis of telecommunication industry. In this project, I have studied the features and technology used in icici bank .I did a primary data collection through Questionnaires covering the sample of 105 respondents. In that I collected their views about how they feel by using the technology, their likings and disliking.

This presents the summary of the study and survey done in relation to the Consumer satisfaction in ICICI BANK. The conclusion is drawn from the study and survey of the company regarding the Consumer satisfaction process carried out there. I analyze through questionnaire filled by respondent. Like 93% of the consumer enjoys have seen the advertisement of icici bank, whereas 7% have not seen.

In this report, I have studied the consumer satisfaction in India its services vision and mission statements how it works. I did primary data collection through questionnaires covering the sample of 105 respondents.

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CHAPTER I

INTRODUCTION

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1.1.HISTORY OF INDUSTRY

A bank is a financial institution that accepts deposits from the public and creates credit. Lending

activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards,

known as the Basel Accords.

Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In the history of banking, a number of banking dynasties notably, the Medicis, the Fuggers, the Welsers, the Berenbergs and the Rothschilds have played a central role over many centuries. The oldest existing retail bank is Banca Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank.

HISTORY OF BANK History

Banking began with the first prototype banks of merchants of the ancient world, which made

grain loans to farmers and traders who carried goods between cities. This began around 2000 BC

in

Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders based

in

temples made loans and added two important innovations: they accepted deposits and changed

money. Archaeology from this period in ancient China and India also shows evidence of money

lending activity.

The origins of modern banking can be traced to medieval and early Renaissance Italy, to the rich cities in the north like Florence, Lucca, Siena, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of

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Europe. One of the most famous Italian banks was the Medici Bank, set up by Giovanni di Bicci de' Medici in 1397. [3] The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 at Genoa, Italy.

Modern banking practices, including fractional reserve banking and the issue of banknotes, emerged in the 17th and 18th centuries. Merchants started to store their gold with the goldsmiths of London, who possessed private vaults, and charged a fee for that service. In exchange for each deposit of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the metal they held as a bailee; these receipts could not be assigned, only the original depositor could collect the stored goods.

The sealing of the Bank of England Charter (1694).

Gradually the goldsmiths began to lend the money out on behalf of the depositor, which led to the development of modern banking practices; promissory notes (which evolved into banknotes) were issued for money deposited as a loan to the goldsmith. The goldsmith paid interest on these deposits. Since the promissory notes were payable on demand, and the advances (loans) to the goldsmith's customers were repayable over a longer time period, this was an early form of fractional reserve banking. The promissory notes developed into an assignable instrument which could circulate as a safe and convenient form of money backed by the goldsmith's promise to pay, allowing goldsmiths to advance loans with little risk of default. Thus, the goldsmiths of London became the forerunners of banking by creating new money based on credit.

The Bank of England was the first to begin the permanent issue of banknotes, in 1695. The Royal Bank of Scotland established the first overdraft facility in 1728. By the beginning of the 19th century a bankers' clearing house was established in London to allow multiple banks to clear transactions. The Rothschilds pioneered international finance on a large scale, financing the purchase of the Suez canal for the British government.

Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers on the bank, and collecting cheques deposited to customers' current accounts. Banks also enable customer payments via other payment methods such as Automated

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Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits, and by issuing debt securities such as banknotes and bonds. Banks lend money by making advances to customers on current accounts, by making installment loans, and by investing in marketable debt securities and other forms of money lending.

Banks provide different payment services, and a bank account is considered indispensable by most businesses and individuals. Non-banks that provide payment services such as remittance companies are normally not considered as an adequate substitute for a bank account.

Banks can create new money when they make a loan. New loans throughout the banking system generate new deposits elsewhere in the system. The money supply is usually increased by the act of lending, and reduced when loans are repaid faster than new ones are generated. In the United Kingdom between 1997 and 2007, there was an increase in the money supply, largely caused by much more bank lending, which served to push up property prices and increase private debt. The amount of money in the economy as measured by M4 in the UK went from £750 billion to £1700 billion between 1997 and 2007, much of the increase caused by bank lending. If all the banks increase their lending together, then they can expect new deposits to return to them and the amount of money in the economy will increase. Excessive or risky lending can cause borrowers to default, the banks then become more cautious, so there is less lending and therefore less money so that the economy can go from boom to bust as happened in the UK and many other Western economies after 2007.

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1.1.1. RANGE OF ACTIVITES

1.1.2.BUSINESS MODELS

A bank can generate revenue in a variety of different ways including interest, transaction fees and financial advice. Traditionally, the most significant method is via charging interest on the capital it lends out to customers. The bank profits from the difference between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities.

This difference is referred to as the spread between highly the cost of funds and the loan interest rate. Historically, profitability from lending activities has been cyclical and dependent on the needs and strengths of loan customers and the stage of the economic cycle. Fees and financial advice constitute a more stable revenue stream and banks have therefore placed more emphasis on these revenue lines to smooth their financial performance.

In the past 20 years American banks have taken many measures to ensure that they remain profitable while responding to increasingly changing market conditions.

First, this includes the GrammLeachBliley Act, which allows banks again to merge with investment and insurance houses. Merging banking, investment, and insurance functions allows traditional banks to respond to increasing consumer demands for "one- stop shopping" by enabling cross-selling of products (which, the banks hope, will also increase profitability).

Second, they have expanded the use of risk-based pricing from business lending to consumer lending, which means charging higher interest rates to those customers that are considered to be a higher credit risk and thus increased chance of default on loans. This helps to offset the losses from bad loans, lowers the price of loans to those who have

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better credit histories, and offers credit products to high risk customers who would otherwise be denied credit.

Third, they have sought to increase the methods of payment processing available to the general public and business clients. These products include debit cards, prepaid cards, smart cards, and credit cards. They make it easier for consumers to conveniently make transactions and smooth their consumption over time (in some countries with underdeveloped financial systems, it is still common to deal strictly in cash, including carrying suitcases filled with cash to purchase a home).

However, with convenience of easy credit, there is also increased risk that consumers will mismanage their financial resources and accumulate excessive debt. Banks make money from card products through interest charges and fees charged to cardholders, and transaction fees to retailers who accept the bank's credit and/or debit cards for payments.

This helps in making profit and facilitates economic development as a whole.

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1.2. ABOUT THE ICICI ICICI Bank (Industrial Credit and Investment Corporation of India) is an

1.2. ABOUT THE ICICI

ICICI Bank (Industrial Credit and Investment Corporation of India) is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra, India, with its registered office in Vadodara. In 2014, it was the second largest bank in India in terms of assets and third in term of market capitalisation. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialised subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management. The bank has a network of 4,450 branches and 13,995 ATMs in India, and has a presence in 19 countries including India.

ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Bank of Baroda and Punjab National Bank. [7] The bank has subsidiaries in the United Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, Dubai International Finance Centre, China [8] and South Africa; [9] and representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also established branches in Belgium and Germany.

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ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI) an Indian financial institution, as a wholly owned subsidiary in 1994. The parent company was formed in 1955 as a joint-venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project financing to Indian industry. The bank was founded as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent company was later merged with the bank.

ICICI Bank launched internet banking operations in 1998.

ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering of shares in India in 1998, followed by an equity offering in the form of American Depositary Receipts on the NYSE in 2000. ICICI Bank acquired the Bank of Madura Limited in an all-stock deal in 2001 and sold additional stakes to institutional investors during 2001-02.

In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group, offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE.

In 2000, ICICI Bank became the first Indian bank to list on the New York Stock Exchange with its five million American depository shares issue generating a demand book 13 times the offer size.

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 Ahmedabad in March 2002 and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002.

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In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and branches in some locations due to rumours of adverse financial position of ICICI Bank. The Reserve Bank of India issued a clarification on the financial strength of ICICI Bank to dispel the rumours.

1.2.1.Role in Indian financial infrastructure

The bank has contributed to the set-up of a number of Indian institutions to establish financial infrastructure in the country over the years:

National Stock Exchange - The National Stock Exchange was promoted by India's leading financial institutions (including ICICI Ltd.) in 1992 on behalf of the Government of India with the objective of establishing a nationwide trading facility for equities, debt instruments and hybrids, by ensuring equal access to investors all over the country through an appropriate communication network.

Credit Rating Information Services of India Limited (CRISIL) - In 1987, ICICI Ltd along with UTI set up CRISIL as India's first professional credit rating agency. CRISIL offers a comprehensive range of integrated products and service offerings which include credit ratings, capital market information, industry analysis and detailed reports.

National Commodities and Derivatives Exchange Limited - NCDEX is an online multi- commodity exchange, set up in 2003, by ICICI Bank Ltd, LIC, NABARD, NSE, Canara Bank, CRISIL, Goldman Sachs, Indian Farmers Fertiliser Cooperative Limited (IFFCO) and Punjab National Bank.

Financial Innovation Network and Operations Pvt Ltd. - ICICI Bank has facilitated setting up of "FINO Cross Link to Case Link Study" in 2006, as a company that would provide technology solutions and services to reach the underserved and underbanked population of the country. Using technologies like smart cards, biometrics and a basket of support services, FINO enables financial institutions to conceptualise, develop and operationalise projects to support sector initiatives in microfinance and livelihoods.

Entrepreneurship Development Institute of India - Entrepreneurship Development Institute of India (EDII), an autonomous body and not-for-profit society, was set up in 1983, by the erstwhile apex financial institutions like IDBI, ICICI, IFCI and SBI with the

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support of the Government of Gujarat as a national resource organisation committed to entrepreneurship development, education, training and research.

North Eastern Development Finance Corporation - North Eastern Development Finance Corporation (NEDFI) was promoted by national level financial institutions like ICICI Ltd in 1995 at Guwahati, Assam for the development of industries, infrastructure, animal husbandry, agri-horticulture plantation, medicinal plants, sericulture, aquaculture, poultry and dairy in the North Eastern states of India. NEDFI is the premier financial and development institution for the North East region.

Asset Reconstruction Company India Limited - Following the enactment of the Securitisation Act in 2002, ICICI Bank, together with other institutions, set up Asset Reconstruction Company India Limited (ARCIL) in 2003, to create a facilitative environment for the resolution of distressed debt in India. ARCIL was established to acquire non-performing assets (NPAs) from financial institutions and banks with a view to enhance the management of these assets and help in the maximisation of recovery. This would relieve institutions and banks from the burden of pursuing NPAs, and allow them to focus on core banking activities.

Credit Information Bureau of India Limited - ICICI Bank has also helped in setting up Credit Information Bureau of India Limited (CIBIL), India's first national credit bureau in 2000. CIBIL provides a repository of information (which contains the credit history of commercial and consumer borrowers) to its members in the form of credit information reports. The members of CIBIL include banks, financial institutions, state financial corporations, non-banking financial companies, housing finance companies and credit card companies.

Institutional Investor Advisory Services India Limited (IiAS) ICICI Bank has indirectly invested in Institutional Investor Advisory Services, through ICICI Prudential Life Insurance Company, in IiAS. IiAS is a voting advisory firm aka proxy firm, dedicated to providing participants in the Indian market with data, research and commentary. It provides recommendations on resolutions placed before shareholders of over 300 companies.

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1.2.2. ICICI Merchant Services

ICICI Merchant Services represents an alliance formed in 2009 between ICICI Bank, India’s largest private sector bank, and First Data, a global leader in electronic commerce and payment services. First Data is the majority stakeholder in the alliance with ICICI Bank holding 19%.

Money2India

Money2India (www.money2India.com) is an online money transfer tracking service offered to Non-Resident Indians by ICICI Bank Ltd. With an ever-expanding base since its launch, it is the preferred mode of online money transfers to India, facilitating seamless money transfers with round the clock customer service availability. To use this service, a user needs to complete a simple one-time online registration by accessing www.money2India.com and can thereafter, start sending money from any bank in 9 countries (USA, Canada, UK, Singapore, Australia, UAE, Sweden, Switzerland and Hong Kong) to any beneficiary account with over 100 banks in India.

Money2India Europe

ICICI Bank UK PLC, Germany branch provides money transfer and tracking service (Money2India Europe, Money2India.EU) in 20 European countries. The platform facilitates money transfer to India by allowing remitter to initiate money transfer instruction on M2E. Depending on the country of residence and the financial institution with which the user is holding the bank account, he / she has an option to transfer money through payment gateway integrated with the platformwith guaranteed exchange rate.

The Money2India Europe Mobile App is a full-fledged remittance platform for the customers, who prefers to use mobile device to handle the transactions.

Extra home loans

‘ICICI Bank Extraa Home Loans’ are 'mortgage-guarantee' backed loans for retail customers who aspire to purchase their first homes in the affordable housing segment. This was introduced in August 2015 in association with India Mortgage Guarantee Corporation (IMGC). IMGC is a

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joint venture between National Housing Bank (NHB), an RBI subsidiary which regulates Home Finance Companies in India; NYSE-listed Genworth Financial Inc., a Fortune 500 company; International Finance Corporation (IFC) and Asian Development Bank (ADB).

Smart Vault

‘Smart Vault’ are fully automated lockers available 24x7, including weekends and post banking hours were launched in August 2015. The ‘Smart Vault’ uses robotic technology to access the lockers from the safe vault conveniently at any time of their preference in total privacy, without any intervention of the branch staff.

Saral Loans

In August 2015, ICICI Bank introduced ‘Saral-Rural Housing Loan’. Applicants from rural areas including women borrowers as well as seekers from weaker sections can now avail home loans at the ICICI Bank Base Rate (“I-Base”) which is currently at 9.70%. An eligible borrower can take up to ₹1.5 million (US$22,000) under the ‘ICICI Bank Saral–Rural Housing Loan’.

ICICI Bank Unifare Bangalore Metro Card

ICICI Bank and Bangalore Metro Rail Corporation Limited (BMRCL) in April 2015, announced the launch of the ‘ICICI Bank Unifare Bangalore Metro Card’ to offer the commuters dual benefits of an ICICI Bank credit or debit card and BMRCL’s smart card, called Namma Metro Smart Card.

'Touch n Remit' facility for NRIs in Kingdom of Bahrain

In March 2015, ICICI Bank tied up with SADAD Electronic Payments WLL to offer remittance service for NRIs based in Bahrain, enabling them to transfer monies instantly to India from the latter’s kiosks spread across the Kingdom of Bahrain. This facility has been named as ‘Touch n Remit’.

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ICICI Bank Ltd launches 'Video Banking' for NRI

In February 2015, ICICI Bank announced the launch of 'Video Banking' for all its NRI (Non Resident Indian) customers. Using this service, the customers can now connect with a customer care representative over a video call, round-the-clock, on all days from anywhere using their smart phone.

Pockets by ICICI Bank

In February 2015, ICICI Bank Re-Launched POCKETS, now working as a "Digital wallet" for everyone (Android OS users only). The Wallet can be opened by anyone and can conduct transactions like recharge, shopping, transfer money using the virtual visa card which is issued when signing up for the wallet.

ICICIBankPay on Twitter

ICICI Bank in January, 2015 launched banking services on Twitter, christened as 'ICICIBankPay'. This service in India enables ICICI Bank customers to transfer money to anyone in the country who has a Twitter account, check account balance, view last three transactions and recharge prepaid mobile in a completely secure manner.

Contactless Credit and Debit Cards

ICICI Bank in January, 2015 announced the launch of the country’s first ‘Contactless’ debit and credit cards, enabling its customers to make electronic payments by just waving the cards near the merchant terminal in lieu of dipping or swiping them. These cards are based on the Near Field Communication (NFC) technology, which provides customers the improved convenience of speed as these cards require significantly less time than traditional cards to complete a transaction along with enhanced security as they remain in control of the customer.

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MySavings Rewards

ICICI Bank has rolled-out the programme 'MySavings Rewards' from 1 September 2012, where reward points are offered to individual domestic customers for a variety of transactions done through the savings bank account. Reward points are offered automatically to customers for activating Internet banking, shopping online/ paying utility bills with Internet banking and auto- debit from savings account towards equated monthly installments for home/ auto/ personal loan/ recurring deposit. Customers are required to maintain a monthly average balance of ₹15,000 (US$220) or more. th Indian bank will recuire 5.5% interest on short term loans and long term bonds and mortgages loans up to $2 million up to 20 years to pay back annual interest of 5.5% short term loans from 3 months up to 3years at 5.5% .credit interest is reduced to 10% annually .

iWish- the flexible recurring deposit

iWish is a flexible recurring deposit product launched by ICICI Bank for its savings account customers. Unlike a traditional recurring deposit, iWish allows customers to save varying amounts of money at any time of their choice. Customers can create several goals and track their progress on an online interface.

ICICI Bank has developed this product in collaboration with Social Money. ICICI Bank has also launched an app for Android and Apple smartwatches. The app will provide the facility of online banking transaction from smartwatch.

Software robotics

ICICI on 10 Sep 2016 announced 'software robotics' initiativea first by any Indian bank. Over 200 software robots are now performing over 1 million transactions per day for the bank which comprises 10% of its total transactions. The bank will engage 500 software robots by the end of the year which will help it to automate 20% of its total transactions.

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1.2.3.Awards and Achievements of ICICI

2003

"The Asian Banker Excellence in Retail Financial Services Program" by The Asian Banker

2004

Best Bank in India Award presented by Euromoney Magazine

2006

Bank of the Year 2006 India by the Banker

2007

ICICI Bank has been conferred the Euromoney Award 2007 for the Best Bank in the Asia-Pacific Region

ICICI Bank wins the Excellence in Remittance Business award by The Asian Banker

ICICI Bank was got the awards for 'Best Transaction Bank' in India, 'Best Domestic Bank' in India, 'Best follow-on offering'(US$4.94 billion), 'Best Investment Grade Bond'(US$2 billion, three-tranche bonds), Best Syndicated Loan Managers by Asset.

2009

ICICI Bank bags the "Best bank in SME financing (Private Sector)" at the Dun & Bradstreet Banking awards

ICICI Bank won the Best Banking Security Systems Project Award and Best E-Banking Project Implementation Award by The Asian Banker.

2010

ICICI Bank won the Best Banking Security System by The Asian Banker.

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2011

ICICI Bank is the only Indian brand to figure in the BrandZ Top 100 Most Valuable Global Brands Report, second year in a row

ICICI Bank won the 'Best CRM Project' and 'Best Banking Security Systems' by The Asian Banker.

2012

Airtel, ICICI among 'top 100 global brands'

ICICI Bank received the Golden Peacock Innovative Product / Service Award.

ICICI Bank received the Dataquest Technology Innovation Awards 2012 for Data center migration by Dataquest.

ICICI Bank was conferred the Best Performance Award for Self Help Group (SHG) Bank Linkage Programme in NABARD's State Level Awards announced by their Maharashtra Regional Office. The Bank received the first prize for the year 201011 in the Private Sector Bank category and 2nd runner up for the year 201112 in the Commercial Bank category.

2013

ICICI Bank has been adjudged winner at the Express IT Innovation Award under the Large Enterprise category

ICICI Bank won the RMAI received the "Gram Samvad", Service for Low cost/Small budget marketing initiative Award by Rural Marketing Association of India (RMAI).

ICICI bank won the 'Next Generation Banking solution' award by Celent.

ICICI bank won the Best Domestic Trade Finance Bank and Best Financial Supply Chain Project Award in India by The Asian Banker

ICICI Bank won the honours of the Medici Innovation Hall of Fame Award, instituted by The Medici Institute in collaboration with the Medici Group, USA.

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2014

According to the Brand Trust Report 2014, ICICI Bank was ranked 28th among India's most trusted brands, a research conducted by Trust Research Advisory.

ICICI Bank was ranked second at the 'National Energy Conservation Award 2014' under the office buildings (less than 10 lakh kWh/year consumption) category.

ICICI Bank was fifth in the world and second in India on the 'Top Companies for Leaders' in a study conducted by Aon Hewitt.

ICICI bank won the Best Private Sector Bank - Global Business Development by Polaris Financial Technology Banking Awards 2014.

IDBRT awarded ICICI for 'Best Bank Award for Business Intelligence Initiatives among Large Banks' and 'Best Bank Award for Social Media and Mobile Banking Among Large Banks'.

ICICI bank was awarded the Certificate of Recognition as one of the Top 5 Companies in Corporate Governance in the 14th The Institute of Company Secretaries of India National for Corporate Governance. They were honoured by Arun Jaitley.

Awards ICICI Bank was awarded the 'Best Retail Bank in India', 'Best Microfinance Business' and 'Best Retail Banking Branch Innovation' under the 'Excellence in Retail Financial Services awards 2014' and Technology Implementation Award for Lending Platform Implementation by The Asian Banker.

2015

ICICI Bank won an award in the BFSI Leadership Summit & Awards in the 'Best Phone Banking for End-users' category

ICICI Bank won in six categories and was the first runner-up in one category among Private Sector Banks at IBA Banking Technology Awards, 2015. The bank was declared winner in the six categories of Best Technology Bank of the Year, Best use of Data, Best Risk Management Initiatives, Best use of Technology in Training, Human Resources and e-Learning initiatives, Best Financial Inclusion Initiative and Best use of Digital and

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Channels Technology. ICICI Bank was the first runner-up in Best use of Technology to Enhance Customer Experience

ICICI Bank has been declared as the first runner up at Outlook Money Awards 2015 in the category of Best Bank

ICICI Bank has been adjudged the ‘Best Retail Bank in India’ by The Asian Banker. It has also emerged winners in the categories of ‘Best Internet Banking Initiative’ and ‘Best Customer Risk Management Initiative’ awards given by The Asian Banker.

Best Local Trade Finance Bank in India’ at Global Trade Review Asia Leaders in Trade Awards 2015.

Best Foreign Exchange Bank’ in India, at Finance Asia’s 2015 Country Banking Achievement Awards.

Best Private Sector Bank’ under ‘Global Business’ category at the Dun & Bradstreet Banking Awards 2015.

‘Best Website Design’ in Asia-Pacific at Global Finance 2015 World’s Best Digital Bank Awards.

Winner at the National Energy Conservation Awards 2015 under the ‘Office Buildings’ category (energy consumption of over 1 million units per annum).

First among private sector banks in The Economic Times Brand Equity’s Most Trusted Brands survey 2015.

Runner up in the categories of ‘Immediate Payment Service’, ‘Cheque Truncation System’ and ‘National Financial Switch’ at the National Payments Excellence Awards 2015 organised by the National Payments Corporation of India. The Bank was also felicitated with a special award for issuing the largest number of RuPay Platinum cards.

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2016

Best Retail Bank in India’ at the Asian Banker International Excellence in Retail Financial Services Awards 2016. ICICI Bank has won this award three years in a row.

Gold awards in the ‘Bank’ and ‘Credit card issuing Bank’ segments under Finance category in the Reader’s Digest Trusted Brand 2016 Survey.

First in The Brand Trust Report, India Study 2016 by Trust Research Advisory under the ‘Banking Financial Services and Insurance’ category.

Winner at the ‘Global Safety Awards 2016’ organised by the Energy and Environment Foundation. This award is sponsored by Ministry of Petroleum & Natural Gas and Ministry of Coal, Government of India.

ICICI on 10 Sep 2016 announced 'software robotics' initiativea first by any Indian bank. Over 200 software robots are now performing over 1 million transactions per day for the bank which comprises 10% of its total transactions

.

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CHAPTER II-

LITERATURE REVIEW

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2.1.1 Definitions by authors:

Consumer Behavior:-

“consumer satisfaction is a term frequently used in marketing. It is a measure of how products and services supplied by a company meet or surpass customer expectation. – Robert bill”

“Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals." –by mike Jennar”

“Customer satisfaction measures how well the expectations of a customer concerning a product or service provided satisfaction provided by the goods or services of a company as measured by the number of repeat customers. –by Rachel Paterson”

“When customers are pleased with the goods or services they have bought, you can refer to customer satisfaction. –by kylie Thomas”

“Customer by a customer with a satisfaction measures how well a firm is able to meet the expectations of customers. –by times lexicon”

“Customer satisfaction is a key concept in marketing, as a firm cannot retain its customers unless it has highly satisfied product or service obtained from a business . –by joseph Timberlake “

“Customer satisfaction is a term used to describe a scenario when an exchange meets the needs and expectations of its user. It captures the provision of goods or services that fulfil the customer’s expectations in terms of quality business term, can also be used to measure how the supply of products or services surpasses customer expectations and service in relation the price to paid. –by John Salvatore “

“In customer relationship management, customer satisfaction (CSAT) is a measure of the degree to which a product or service meets the customer's expectations. –by gorge Wayne “

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“Customer satisfaction is an abstract concept and involves such factors as the quality of the product, the quality of the service provided, the atmosphere of the location where the product or service is purchased, and the price of the product or service.” By t Salvatore “

Businesses often use customer satisfaction surveys to gauge customer satisfaction. These surveys are used to gather information about customer satisfaction. Typical areas addressed in the surveys include :

Quality of product

Value of product relative to price - a function of quality and price

Time issues, such as product availability, availability of sales assistance, time waiting at checkout, and delivery time

.

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CHAPTER III

RESEARCH METHODOLOGY

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3.1 OBJECTIVE OF THE STUDY Objectives are the ends that states specifically how goal be
3.1 OBJECTIVE OF THE STUDY
Objectives are the ends that states specifically how goal be achieved. Every study must have an
objective for which all the efforts have been done. Without objective no research can be
conducted and no result can be obtained. On the basis of objective all the research process is
followed. Objectives are the main aspect of every study. The objective of the study gives
direction to go through the research problem. It guides the researcher and keeps him on track. I
have two objectives regarding my research project. These are shown below :-
1.To know the consumer satisfaction regarding technology used by icici bank.
2.To identify the consumer preference which make bank more valuable.
3.To
know
the
consumer
satisfaction
regarding
knowledge
of
icici
employees
used
of
technology.
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Meaning of Research:

Research is defined as “a scientific and systematic search for pertinent information on a specific topic”. Research is an art of scientific investigation. Research is a systematized effort to gain now knowledge. It is a careful investigation or inquiry especially through search for new facts in any branch of knowledge. Research is an academic activity and this term should be used in a technical sense. Research comprises defining and redefining problems, formulating hypothesis or suggested solutions. Making deductions and reaching conclusions to determine whether they if the formulating hypothesis. Research is thus, an original contribution to the existing stock of knowledge making for its advancement. The search for knowledge through objective and systematic method of finding solutions to a problem is research.

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TO MAKE A FINANCIAL ANALYSIS OF FINANCIAL STATEMENTS OF ICICI BANK”

Research Design

A research designs is the arrangement of conditions for collection and analysis data in a manner

that aims to combine relevance to the research purpose with economy in procedure. Research Design is the conceptual structure with in which research in conducted. It constitutes the blueprint for the collection measurement and analysis of data. Research Design includes and outline of what the researcher will do form writing the hypothesis and it operational implication

to

the final analysis of data. A research design is a framework for the study and is used as guide

in

collection and analyzing the data. It is a strategy specifying which approach will be used for

gathering and analyzing the data. It also include the time and cost budget since most studies are done under these two cost budget since most studies are done under theses tow constraints. The design is such studies must be rigid and not flexible and most focus attention on the following:-

What is the study about?

Why is the study being made?

Where will the study be carried out?

What type of data is required?

Where can be required data be found?

What period of time will the study include?

What will be sample design?

What techniques of data collection will be used?

How will the data be analyzed?

In what style will the report be prepared?

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TYPES OF RESEARCH DESIGN :

EXPERIMENTAL RESEARCH DESIGN

EXPLORATORY RESEARCH DESIGN

DESCRIPTIVE& DIAGNOSTIC RESEARCH

Exploratory Research Design: This research design is preferred when researcher has a vague idea about the problem the researcher has to explore the subject.

Experimental Research Design The research design is used to provide a strong basis for the existence of casual relationship between two or more variables.

Descriptive Research Design It seeks to determine the answers to who, what, where, when and how questions. It is based on some previous understanding of the matter.

Diagnostic Research Design It determines the frequency with which something occurs or its association with something else.

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RESEARCH DESIGN USED IN THE STUDY:

Descriptive research design is used in this study because it will ensure the minimization of bias and maximization of reliability of data collected. Descriptive study is based on some previous understanding of the topic. Research has got a very specific objective and clear cut data requirements The researcher had to use fact and information already available through financial statements of earlier years and analyse these to make critical evaluation of the available material. Hence by making the type of the research conducted to be both Descriptive and Analytical in nature. From the study, the type of data to be collected and the procedure to be used for this purpose were decided.

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Data Collection Method

The process of data collection begins after a research problem has been defined and research design has been chalked out. There are two types of data

PRIMARY DATA -

It is first hand data, which is collected by researcher itself. Primary data is collected by various approaches so as to get a precise, accurate, realistic and relevant data. The main tool in gathering primary data was investigation and observation. It was achieved by a direct approach and observation from the officials of the company.

SECONDARY DATA - it is the data which is already collected by someone else. Researcher has to analyze the data and interprets the results. It has always been important for the completion of any report. It provides reliable, suitable, adequate and specific knowledge.

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Methods of data analysis

The data collected were edited, classified and tabulated for analysis. The analytical tools used in this study are:

ANALYTICAL TOOLS APPLIED:

The study employs the following analytical tools:

1. Comparative statement. Trend Percentage.

2. Ratio Analysis.

3. Cash Flow Statement.

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Limitations of study

Difficulty in data collection.

Limited knowledge about the bank in the initial stages.

Branch manager was reluctant for giving financial data of the bank.

The analysis and interpretation are based on secondary data contained in the published annual reports of ICICI Bank for the study period.

Due to the limited time available at the disposable , the study has been confined for a period of 5 years (2005-2009).

Ratio itself will not completely show the company’s good or bad financial position.

Inter firm comparison was not possible due to the non availability of competitors data.

The study of financial performance can be only a means to know about the financial condition of the company and cannot show a through picture of the active

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CHAPTER IV

DATA ANALYSIS AND

INTERPRETATION

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Analysis-1. Which category of the banks do you consider as most technologically advanced?

A. Public sector bank

B. Private sector bank

Options

Number of respondents

Percentage of responses

Public Sector Bank

70

33%

Private Sector Bank

30

67%

Total

105

100%

33.00% 67.00%
33.00%
67.00%

Public sector bank33.00% 67.00% private sector bank

private sector bank33.00% 67.00% Public sector bank

INTERPRETATION: out 105 people ,70 people use to open bank accounts with public banks and 30 people have their accounts with private bank.

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Analysis-2. Which attribute of the bank do you value the most?

Option

Number of respondents

Percentage of responses

Quality of Service

55

53%

Technology used

15

14%

Trust

20

19%

Location

15

14%

Total

105

100%

14% 19% 14%
14%
19%
14%
53%
53%

Quality of service14% 19% 14% 53% Technology used Trust location

Technology used14% 19% 14% 53% Quality of service Trust location

Trust14% 19% 14% 53% Quality of service Technology used location

location14% 19% 14% 53% Quality of service Technology used Trust

INERPRETATION: Most of the people value the quality of service icici bank provide which is

53%.

Analysis-3. Which factor promotes you to use the new techniques in banking? ( Tick all that are applicable )

40
40

.

Option

Number of respondents

Percentage of responses

Reduce time of transaction

30

29%

Cost effectiveness

10

9%

Ease of use

30

29%

Technology

35

33%

Total

105

100%

29% 33% 9% 29%
29%
33%
9%
29%

Reduce time of transaction29% 33% 9% 29% cost effectiveness Ease ofuse technology

cost effectiveness29% 33% 9% 29% Reduce time of transaction Ease ofuse technology

Ease ofuse29% 33% 9% 29% Reduce time of transaction cost effectiveness technology

technology29% 33% 9% 29% Reduce time of transaction cost effectiveness Ease ofuse

INTERPRETATION: 33%people thinks that Technology is the factor of using new technique of banking.

.Analysis-4. How familiar are you with computer usage level of your bank?

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Option

Number of respondents

Percentage of responses

No Knowledge of computer

8

8%

Beginner

10

9%

Average Knowledge

42

40%

Advance Computer Knowlwdge

45

43%

Total

105

100%

45%
45%
8% 9% 40%
8%
9%
40%

No knowlegde of computer45% 8% 9% 40% bignner Average knowlegde advance comuter knowlegde

bignner45% 8% 9% 40% No knowlegde of computer Average knowlegde advance comuter knowlegde

Average knowlegde45% 8% 9% 40% No knowlegde of computer bignner advance comuter knowlegde

advance comuter knowlegde45% 8% 9% 40% No knowlegde of computer bignner Average knowlegde

INTERPRETATION: 45% people are more familiar with computer usage level or you can say that technology usage.

Analysis-5. Consumer level of usage of technology ( Tick all that are applicable to you )

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Options

Number of respondents

Percentage of responses

Connected to internet

15

14%

Uses E-mail

10

9%

Atm/Debit card service

20

19%

Credit card service

25

25%

Online banking services

15

14%

E-payements

5

5%

Electronic fund transfer

15

14%

Total

105

100%

5% 14% 14% 9% 25% 19%
5%
14%
14%
9%
25%
19%

Connected to internet5% 14% 14% 9% 25% 19% uses e mail ATM Debit card credit card online banking

uses e mail5% 14% 14% 9% 25% 19% Connected to internet ATM Debit card credit card online banking

ATM Debit card5% 14% 14% 9% 25% 19% Connected to internet uses e mail credit card online banking

credit card5% 14% 14% 9% 25% 19% Connected to internet uses e mail ATM Debit card online

online banking5% 14% 14% 9% 25% 19% Connected to internet uses e mail ATM Debit card credit

e payements5% 14% 14% 9% 25% 19% Connected to internet uses e mail ATM Debit card credit

INTERPRETATION: customer level of technology usage is 25% is the highest percentage of people using credit card service.

Analysis-6. How frequently do you use the ATM service per month?

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Options

Number of respondents

Percentage of responses

Nil

0

0%

1

to 3

20

19%

3

to 8

30

28%

8

to12

40

38%

Over 12

15

15%

Total

105

100%

0% 15% 38%
0%
15%
38%
19% 28%
19%
28%

Nil0% 15% 38% 19% 28% 1to3 3to8 8to12 over 12

1to30% 15% 38% 19% 28% Nil 3to8 8to12 over 12

3to80% 15% 38% 19% 28% Nil 1to3 8to12 over 12

8to120% 15% 38% 19% 28% Nil 1to3 3to8 over 12

over 120% 15% 38% 19% 28% Nil 1to3 3to8 8to12

INTERPRETATION: 38% people are the people who use ATM 8 ti12 times per month , this is the highest percent

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Analysis-7. Are you satisfied with the icici bank services ?

Options

Number of respondents

Percentage of responses

Very good

57

54%

Good

23

22%

Average

20

19%

Not satisfied

5

5%

Total

105

100%

5% 19%
5%
19%

22%5% 19% Sales 54% very good good average not good

Sales 54%
Sales
54%

very good5% 19% 22% Sales 54% good average not good

good5% 19% 22% Sales 54% very good average not good

average5% 19% 22% Sales 54% very good good not good

not good5% 19% 22% Sales 54% very good good average

INTERPRETATION: 54% of people are said that icici bank service is very good

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Analysis-8. Which kind of bank account do you have with icici bank ?

Options

Number of respondents

Percentage of responses

Current account

45

43%

Saving account

20

19%

Recurring deposit

25

24%

Fixed deposit

15

14%

Total

105

100%

24% 43% 19%
24%
43%
19%

Current A/C24% 43% 19% Savings A/C recurring deposit fixed deposit

Savings A/C24% 43% 19% Current A/C recurring deposit fixed deposit

recurring deposit24% 43% 19% Current A/C Savings A/C fixed deposit

fixed deposit24% 43% 19% Current A/C Savings A/C recurring deposit

INTERPRETATION: The most opened Account with icici is current Accounts which is 43%.

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Analysis-9. Have you seen the advertisement of icici bank ?

Options

Number of respondents

Percentage of responses

Yes

98

93%

No

7

7%

Total

105

100%

7% 93%
7%
93%

Yes7% 93% No

No7% 93% Yes

INTERPRETATION: 93% have seen the advertisement of icici bank.

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Analysis-10. Do you know about the technology used in icici bank ?

Options

Number of respondents

Percentage of responses

Yes

75

72%

No

30

28%

Total

105

100%

28% 72%
28%
72%

Yes28% 72% No

No28% 72% Yes

INTERPRETATION: 72% knows the policies of icici bank.

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CHAPTER V-

FINDINGS AND SUGGESTIONS

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5.1.FINDINGS

72% knows the policies of icici bank.

93% have seen the advertisement of icici bank.

The most opened Account with icici is current Accounts which is 43%.

54% of people are said that icici bank service is very good.

38% people are the people who use ATM 8 ti12 times per month , this is the highest percent.

customer level of technology usage is 25% is the highest percentage of people using credit card service.

45% people are more familiar with computer usage level or you can say that technology usage.

33%people thinks that Technology is the factor of using new technique of banking.

Most of the people value the quality of service icici bank provide which is 53%.

out 105 people ,70 people use to open bank accounts with public banks and 30 people have their accounts with private bank.

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Suggestions

The profitability of the bank for the period under study is not satisfactory. Profits are increasing but not with same pace as of the expenditure due to higher reliance on debt capital in the form of borrowings and loans for financing capital structure. So in order to improve profitability, the bank should reduce its dependence on external equities for meeting capital requirements. Consequently, the interest expenses will decline and profits will increase which is good for the bank. Similarly non productive expenses should be curtailed to improve profitability.

Higher trend of credit deposit ratio reveals that the bank has performed satisfactorily as regard to granting loans and advances to generate income. It suggests that the credit performance of bank is good and it is performing its business well by fulfilling the major objective of granting credit and accepting deposit. So in order to have more creditability in the market the bank should maintain its credit deposit ratio.

Though the bank has been successful in increasing it’s deposits but to further improve upon such situation it can introduce some new and attractive schemes for public. Such schemes can be in the form of higher rate of interest and shorter maturity period for FD’s etc.

Bank should try to finance more and more projects. Financing will help it to earn higher amount of profits.

The bank is having a greater reliance on debt capital. The increasing reliance on external equities may prove hazardous in the long run. So in order to remedy this situation bank should increase its focus on internal equities and other sources of internal financing.

Bank can also think for improving it’s day-to -day service to its clients. Such service can be improved by providing prompt service and showing an attitude of co-operation to its clients. It will help to give a kind of confidence to the public and build a better public image.

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To achieve the objective of Rural development it should open more and more branches in different rural areas of the country. It will facilitate in providing help to rural poor farmers and other living below the poverty line. Bank can appoint commission agents for different area who can encourage general public to invest in the capital of the bank and make more deposits in ICICI Bank.

The bank should simplify the procedure of advances for quick disbursement.

To achieve organizational success a proper independent working atmosphere should be developed to achieve desired objective more effectively.

Last but not least, bank should adopt branch automation experiment to control the operational cost.

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CHAPTER VI-

CONCLUSION

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CONCLUSION

After working on this project its my immense pleasure to say its been most beneficial to me as it gave a lot of knowledge about the banking sector in India, which also include how there has been a change in the insurance sector in India over the years with more and more different kind of insurance policies emerging constantly. Also while working in ICICI bank has given me a vast knowledge on marketing which is a creative and innovative field whose study and usage requires good interaction and communication skills to encourage more and more people to invest in insurance policies.

Through this I came to know about the mindset of a customer as an investor and their interest regarding a particular policy but also identifying their insurance need.

Therefore ICICI bank has been a successful organization over the past few years but there is still scope for improvement ,as the insurance sector in India has grown a lot ,certain parts of scope for improvement which are suggested as followed :-

1. Direct door to door interview.

2. Spreading, expanding the need and awareness of insurance among the people through different means of communication viz. sms, television etc.

3. Introducing new policies according to the customer needs.

4. Improving the various customer services by using more efficient customer relation management, thereby which will lead to improvement in the overall banking of ICICI Bank.

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BIBLIOGRAPHY

55
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BOOKS:

BIBLIOGRAPHY

1. Kumar, Ramesh, “ Application Exercises in Management,” Vikas Publishing House,2004.

2. Varshney & Gupta, “ Marketing Management,” Sultan Chand & Sons, 2005.

3. Kotler & Armstrong, “ Principles of Marketing Management”, Prentice Hall India, 2003

WEB:

http://www.google.com/www.icicilifeinsurance.com

http://www.google.com/www.iciccprudential.com

http://www.google.com/wwww.icici.com

NEWSPAPERS AND MAGAZINES:

INSURANCE CHRONICAL BY ICFAI

Economic times

Business world (may, 2011 2 nd edition )

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QUESTIONNAIRE

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QUESTIONNAIRE

NAME:…………………… AGE:…………. CONTACT NO.:…………

Q-1.Which category of the banks do you consider as most technologically advanced?

the banks do you consider as most technologically advanced? Q-2.Which attribute of the bank do you
the banks do you consider as most technologically advanced? Q-2.Which attribute of the bank do you

Q-2.Which attribute of the bank do you value the most?

Q-2.Which attribute of the bank do you value the most? Q-3.Which factor promotes you to use
Q-2.Which attribute of the bank do you value the most? Q-3.Which factor promotes you to use

Q-3.Which factor promotes you to use the new techniques in banking? ( Tick all that are applicable )

new techniques in banking? ( Tick all that are applicable ) Q-4. How familiar are you

Q-4. How familiar are you with computer usage level of your bank?

How familiar are you with computer usage level of your bank? Q-5. Customer level of usage

Q-5. Customer level of usage of technology ( Tick all that are applicable to you ) to the Internet at home or work to do their financial transactions mail

– payments
– payments
to do their financial transactions – mail – payments Q-6.How frequently do you use the following

Q-6.How frequently do you use the following banking services per month?

frequently do you use the following banking services per month? Q-7.Are you satisfied with the icici
frequently do you use the following banking services per month? Q-7.Are you satisfied with the icici

Q-7.Are you satisfied with the icici bank services ?

frequently do you use the following banking services per month? Q-7.Are you satisfied with the icici
frequently do you use the following banking services per month? Q-7.Are you satisfied with the icici
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.Q-8. Which kind of bank account do you have with icici bank ?

Which kind of bank account do you have with icici bank ? Q-9.Have you seen the

Q-9.Have you seen the advertisement of icici bank ?

icici bank ? Q-9.Have you seen the advertisement of icici bank ? Q-10. Do you know

Q-10. Do you know about the policies of icici bank ?

icici bank ? Q-9.Have you seen the advertisement of icici bank ? Q-10. Do you know
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