The new face of technology in ICICI Bank

ICICI Bank has been at the forefront when it comes to technology adoption in banking sector in India. Business intelligence has been a long journey for the company with 12 million terabyte of data currently. And the reason why ICICI Bank is spending so much on technology is primarily because of two reasons customer expectations and behaviour is changing rapidly in India and second, the diversified customer base in India. There are so many business units like banking, mutual funds and insurance within the ICICI group and it is very important for the group to seamlessly integrate these units. This is because there is an overlap of the customer base among these business units. It is also very important for the group to have one virtual group entity having made all compliance with different laws and regulations. Retail banking has continuously evolved over last two decades. During the early 1990s, the banking operation was high cost and people intensive with low scalability and predictability of customer behaviour. After 10 years, at the start of this new millennium, the operational efficiency has improved with lower cost, higher scale and more predictability but lagging in differentiation or customised product offerings. Now, many banks have also crossed that hurdle and started offering many personalised products and services. "Efficiencies, effectiveness and adaptability are three pillars of necessities in improving the banking business", says Pravin Vohra, Group Chief Technology Officer of ICICI Bank. With a bank, Enterprise Intelligence capability is required to process more and more data. And to acquire such capabilities, banks need to have right technology, culture and processes in place. As a case in point, ICICI Bank has taken up a number of initiatives like score card, business intelligence for sales and marketing, customer acquisition and linking different accounts of the same customer. But Mr Vohra feels that the next use of enterprise intelligence would be used in new areas like corporate performance management, master data management, web analytics and enterprise fraud management. It can be used for budgeting, planning, forecasting and the profitability optimisation in the area of corporate performance management. Similarly, data from different channels used by the same customer can be integrated to create master data. But the real gain from the analytics tools can be realised only if it is properly used. "For any business intelligence tool to be successful, the senior management should believe and own it. At the end of the day, business intelligence is a tool and requires human intelligence to reap maximum benefit out of it", emphasises Mr Vohra.

State Bank of India Core Systems Modernization Drivers for a New Core System SBI had undertaken a massive computerization effort in the 1990s to automate all of its branches, implementing a highly customized version of Kindle Banking Systems' Bankmaster core banking system (now owned by Misys). However, because of the bank's historic use of local processing and the lack of reliable telecommunications in some areas, it deployed a distributed system with operations located at each branch. Although the computerization improved the efficiency and accuracy of the branches, the local implementation restricted customers' use to their local branches

and inhibited the introduction of new banking products and centralization of operations functions. The local implementation prevented the bank from easily gaining a single view of corporate accounts, and management lacked readily available information needed for decision making and strategic planning. The advantages in products and efficiency of the private-sector banks became increasing evident in the late 1990s as SBI (and India's other public-sector banks) lost existing customers and could not attract the rapidly growing middle market in India. In fact, this technology-savvy market segment viewed the public-sector banks as technology laggards that could not meet their banking needs. As a result, the Indian government sought to have the public-sector banks modernize their core banking systems. In response to the competitive threats and entreaties from the government, SBI engaged KPMG Peat Marwick (KPMG) in 2000 to develop a technology strategy and a modernization road map for the bank. In 2002, bank management approved the KPMG-recommended strategy for a new IT environment that included the implementation of a new centralized core banking system. This effort would encompass the largest 3,300 branches of the bank that were located in city and suburban areas. The State Bank of India's objectives for its project to modernize core systems included: The delivery of new product capabilities to all customers, including those in rural areas The unification of processes across the bank to realize operational efficiencies and improve customer service Provision of a single customer view of all accounts The ability to merge the affiliate banks into SBI Support for all SBI existing products Reduced customer wait times in branches Reversal of the customer attrition trend

Telephone banking
TERMS AND CONDITIONS GOVERNING THE USE OF ICICI BANKs PHONE BANKING For Individuals / Sole Proprietorships

1. Definitions: In this document the following words and phrases have the meanings set opposite them

unless the context indicates otherwise: ACCOUNT (S) refers to the USER's Bank Account and/ or Credit Card Account and/ or Home Loan Account and/ or Automobile Loan Account and/ or Consumer Durable Loan Account, Agri-Working Capital Loan Account and/or Retail Warehouse Receipt Loan Account and/or Facility against Gold Ornaments Account and/or Farmer Loan Account and/or Farm Equipment Loan Account and/or Rural and Small Home Loan Account and/ or any other type of account (each an Account and collectively Accounts, so maintained with any GROUP COMPANY which are eligible Account(s) for operations through the use of PHONEBANKING CENTER. One of these Accounts will be designated as the Primary Account and all other accounts (if any) of the USER referred to as Secondary Account(s). RURAL LOAN ACCOUNT refers to any of the following types of accounts- Agri-Working Capital Loan Account and/or Retail Warehouse Receipt Loan Account and/or Facility against Gold Ornaments Account and/or Farmer Loan Account and/or Farm Equipment Loan Account and/or Rural and Small Home Loan Account. ATM means any Automated Teller Machine whether in India or overseas, whether of ICICI Bank or a specified Shared Network, at which, amongst other things, the USER can use his/her ATM/Debit Card and / or Credit Card to access his funds in his/her Account held with ICICI Bank. ATM/Debit Card refers to the ICICI Bank Ncash Debit cum ATM Card issued to the USER. ATM PIN means the Personal Identification Number allocated to the USER by ICICI Bank or chosen by the USER/ICICI Bank from time to time, in relation to the ATM / Debit Card and / or Credit Card. BANK ACCOUNT refers to the USER'S account with ICICI BANK. Credit Card means ICICI Bank Credit Card issued to the USER. GROUP COMPANIES refers collectively to ICICI BANK and all companies affiliated to ICICI Bank in which ICICI Bank has majority equity stake or management control and other affiliated companies that would be participating in Phone Banking Service. ICICI BANK refers to ICICI BANK LIMITED, a company incorporated under the Companies Act, 1956 and licensed as a bank under the Banking Regulation Act, 1949 and having its registered office at Landmark, Race Course Circle, Vadodara 390 007, and its corporate office at ICICI Towers, Bandra Kurla Complex, Mumbai 400 051, (ICICI Bank, which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns). LINKED ACCOUNTS refers to the Primary Account (designated by ICICI Bank) and Secondary Accounts (designated by ICICI Bank) of the USER. PERSONAL INFORMATION refers to the information provided by the USER to ICICI Bank. PHONE BANKING/PHONE BANKING SERVICE refers to ICICI Bank's phone banking service, pursuant to which ICICI Bank would provide information and related services through e-mail or other related systems to the USER thereof, in relation inter alia to the ACCOUNT(S) of such USER, information about

products and services of the GROUP COMPANIES which are available from time to time to the customers of the GROUP COMPANIES. T-PIN means the telephone personal identification number that is given to the USER upon acceptance of the application of the USER which number shall be quoted or entered by the USER for access to the PHONE BANKING SERVICE. TERMS refer to Terms and conditions for use of PHONE BANKING as specified in this document. USER refers to a customer of ICICI Bank and/ or the GROUP COMPANIES authorised to use PHONE BANKING. 2. Applicability of TERMS: These TERMS form the contract between the USER and ICICI Bank unconditionally. Each USER shall apply to ICICI Bank in the prescribed form for use of the PHONE BANKING, and ICICI Bank shall be entitled at its sole discretion to accept or reject such applications. By applying for the PHONE BANKING SERVICE and accessing the service for the first time, the USER acknowledges and accepts these TERMS. Notwithstanding anything contained herein, all terms and conditions stipulated by ICICI Bank and the GROUP COMPANIES in connection with the Accounts shall continue to apply. 3. PHONE BANKING SERVICE: ICICI Bank shall endeavor to provide to the USER through the PHONE BANKING SERVICE, various services including but not limited to inquiry of the balance in the Account(s), request for transfer of funds between the ACCOUNTS of the same USER, if applicable to the particular facility, and such other facilities as ICICI Bank may decide to provide from time to time. The services through the Phone Banking shall be provided in a phased manner at the discretion of ICICI Bank. ICICI Bank reserves the right to add, revise suspend or withdraw in whole or in part any of the services, without any notice, provided through PHONE BANKING and these shall be binding on the USER. By using these new services, the USER shall be deemed to have accepted the TERMS. 4. UNAUTHORISED ACCESS: The USER shall take all necessary precautions to prevent unauthorized and illegal use of the service and unauthorized access to the Accounts provided by PHONE BANKING. 5. PHONE BANKING Access TO USERS: CATEGORIES OF USERS: (i) RURAL LOAN ACCOUNT Holders. USER may access the Phone Banking Service by answering at least three questions asked to him/her by the phone banking officer for authentication purpose. Each time the USER is desirous of accessing the PHONE BANKING, the USER shall answer at least three questions pertaining to his/her account in the directed manner for authentication purpose. ICICI Bank shall also have the right to at its discretion request the USER for further information for authentication of the USERs bonafides. ICICI Bank reserves the right to use any other information for authentication of the USER. The USER shall be deemed to represent that he is authorised to deal with the funds and property in the RURAL LOAN ACCOUNT (S) each time the USER uses the PHONE

BANKING SERVICE and seek information in respect thereof. ICICI Bank reserves the right to modify the authentication parameters in order to enhance the security levels and shall endeavour to give a prior notice to the customer by hosting the same on the Website or in any other manner as decided by ICICI Bank, if necessary. (ii) Demat Account holders: USER may access the Phone Banking Service through the use of 14 digit Demat Account Number and the TPIN allotted to the USER. The USER will be allotted a secret T-PIN by ICICI Bank upon acceptance of the application of the USER. The USER shall change the T-PIN assigned by ICICI Bank on accessing the PHONE BANKING SERVICE for the first time and as frequently thereafter as possible as a safety measure. Each time the USER is desirous of accessing the PHONE BANKING the USER shall provide the 14 digit Demat Account Number and the T-PIN, in the directed manner. ICICI Bank shall also have the right to at its discretion request the USER for further information for authentication of the USERs bonafides. ICICI Bank reserves the right to use any other information for authentication of the USER. The USER shall be deemed to represent that he is the legal and beneficial owner of, or, authorised to deal with the funds and property in the ACCOUNT (S) each time the USER uses the PHONE BANKING SERVICE and seek information in respect thereof . (iii) Credit Card holders USER may access the Phone Banking Service through the use of 16 digit Credit Card Number and the ATM PIN allotted to the USER. Each time the USER is desirous of accessing the PHONE BANKING the USER shall provide the 16 digit Credit Card Number and the ATM PIN, in the directed manner. ICICI Bank shall also have the right to at its discretion request the USER for further information for authentication of the USERs bonafides. ICICI Bank reserves the right to use any other information for authentication of the USER. The USER shall be deemed to represent that he is the legal and beneficial owner of, or, authorised to deal with the funds and property in the ACCOUNT (S) each time the USER uses the PHONE BANKING SERVICE and seek information in respect thereof. (iv) Saving Deposit Account and Sole proprietor current account USER may access the Phone Banking Service through the use of ATM/Debit Card Number and the ATM PIN allotted to the USER. Each time the USER is desirous of accessing the PHONE BANKING the USER shall provide the ATM/Debit Card Number and the ATM PIN, in the directed manner. ICICI Bank shall also have the right to at its discretion request the USER for further information for authentication of the USERs bonafides. ICICI Bank reserves the right to use any other information for authentication of the USER. The USER shall be deemed to represent that he is the legal and beneficial owner of, or, authorised to deal with the funds and property in the ACCOUNT (S) each time the USER uses the PHONE BANKING SERVICE and seek information in respect thereof.

(v) Bond holders USER may access the Phone Banking Service through the use of the Bond Holder Number allotted to the USER. Each time the USER is desirous of accessing the PHONE BANKING the USER shall provide the Bond Holder Number, in the directed manner. ICICI Bank shall also have the right to at its discretion request the USER for further information for authentication of the USERs bonafides. ICICI Bank reserves the right to use any other information for authentication of the USER. The USER shall be deemed to represent that he is the legal and beneficial owner of, or, authorised to deal with the funds and property in the ACCOUNT (S) each time the USER uses the PHONE BANKING SERVICE and seek information in respect thereof. (vi) Mutual fund holders USER may access the Phone Banking Service through the use of the Folio Number and the TPIN allotted to the USER. Each time the USER is desirous of accessing the PHONE BANKING the USER shall provide the Folio Number and the TPIN allotted to the USER, in the directed manner. ICICI Bank shall also have the right to at its discretion request the USER for further information for authentication of the USERs bonafides. ICICI Bank reserves the right to use any other information for authentication of the USER. The USER shall be deemed to represent that he is the legal and beneficial owner of, or, authorised to deal with the funds and property in the ACCOUNT (S) each time the USER uses the PHONE BANKING SERVICE and seek information in respect thereof. 6. T-PIN: (i) The USER unconditionally undertakes to have a TPIN of four digit and ensure that the same is kept confidential; and, to not let any unauthorised person have access to the telephone while the USER is accessing the PHONE BANKING SERVICE. (ii) If the USER forgets/ loses/ misplaces the T-PIN, the USER may request for the issue of a new T-PIN by through Phone Banking. A new T-PIN will be issued to the USER after the necessary authentication procedures are carried out. Issuance of a new T-PIN shall not be construed as the commencement of a new contract. (iii) The USER agrees and acknowledges that ICICI Bank shall in no way be held responsible or liable if the USER incurs any loss as a result of information being disclosed by ICICI Bank regarding his/her accounts or carrying the instruction of the USER pursuant to the access of the PHONE BANKING SERVICE and the USER shall fully indemnifies and holds harmless ICICI Bank and the GROUP COMPANIES in that behalf. (iv) The USER shall maintain the secrecy of all information of confidential nature and shall ensure that the same is not disclosed to any person voluntarily, accidentally or by mistake. ICICI Bank does not assume responsibility on his/her behalf.

7. ATM PIN: The security of the ATM PIN is very important. If the USER fails to observe these security requirements, he may incur liability for unauthorized use. Any instructions given by means of the ATM PIN, whether in conjunction or independently, may be deemed to be instructions given by the USER, and ICICI Bank shall be entitled to assume that those instructions are given by the USER. The USER shall ensure that he does not reveal his ATM PIN to anyone and takes all precautions to prevent anyone else from having any kind of access to the ATM PIN. It is recommended that the USER memorizes his ATM PIN and then destroys any record of it. 8. Joint Accounts (i) In case of Joint Accounts, financial transactions through the PHONE BANKING SERVICE, will be available if the mode of operation is indicated as 'either or survivor' or 'anyone or survivor'. The USER desirous of using Phone Banking should be the account holder and authorised to act independently in case of a Joint account. In event all the joint accountholders are desirous to operate the ACCOUNT through the phone banking service, all the joint accountholders shall be bound by the terms and conditions of the PHONE BANKING SERVICE. ICICI Bank shall not be held responsible for acting upon the instructions given by one or more of the Joint accountholders through PHONE BANKING SERVICE. The other Joint account holders shall expressly agree with the arrangement and give their consent on the application form for use of PHONE BANKING SERVICE. ICICI Bank shall act on the instruction received first and any subsequent contrary instruction shall be neglected. All correspondence will be addressed to the first named person only. All transactions arising from the use of PHONE BANKING in the Joint account shall be binding on all the Joint account holders, jointly and severally. (ii) In case of other kinds of Joints accounts the service would be restricted to balance inquiry and statement issue and no financial transaction shall be permitted through the PHONE BANKING SERVICE. If any one of the Joint account holders gives stop payment instructions in respect of operations through the PHONE BANKING (or in writing), on any of the PHONE BANKING accounts held jointly by them, the PHONE BANKING SERVICE will be discontinued for such Joint Accounts. (iii) An Account in the name of a minor or an Account, in which a minor is a Joint account holder, is not eligible for PHONE BANKING. 9. Charges: The USER hereby irrevocably and unconditionally authorises ICICI Bank to recover all charges related to PHONE BANKING as determined by ICICI Bank from time to time by debiting one of ACCOUNTS of the USER or sending a bill for the said to the USER who would be liable to make the payment within the specified period. Failure to do so shall result in interest being payable at the rate specified at that point in time by ICICI Bank. The PHONE BANKING SERVICE shall be withdrawn if any charges remain unpaid, without any notice to the USER and/or without ICICI Bank incurring any liability or responsibility for such withdrawal. 10. Maintenance Of Sufficient Balance: The USER shall ensure that there are sufficient funds (or prearranged credit facilities) in ICICI Bank Account for operations through PHONE BANKING and ICICI Bank shall not be liable for any consequences arising out of ICICI Banks failure to carry out the instructions due to inadequacy of funds and/or credit facilities provided always that ICICI Bank shall at its sole discretion, be entitled to carry out the instructions notwithstanding such inadequacy without seeking

the prior approval from or notice to the USER and the USER shall be responsible to repay with interest the resulting overdraft, advance or credit thereby created and for all related to costs and charges. 11. Funds Transfer The facility of funds transfer will be provided only between the Linked Accounts and in accordance with the arrangement between ICICI Bank and the GROUP COMPANIES. ICICI Bank will endeavor to effect such funds transfer transaction received through PHONE BANKING SERVICE subject to sufficient balance available in the USERs Bank Account and subject to arrangement between ICICI Bank and the Group Companies. ICICI Bank shall not be liable for any omission to make all or any of the payments or for late payments due to circumstances beyond the reasonable control of ICICI Bank. The provisions regarding Funds Transfer are not applicable to RURAL LOAN ACCOUNTS. 12. Authority to ICICI Bank (1) The USER irrevocably and unconditionally authorises ICICI Bank to access all his Accounts for effecting banking or other transactions performed by the USER through the PHONE BANKING SERVICE or otherwise for providing to the USER any information sought by him through access to the PHONE BANKING SERVICE. The instruction of the USER shall be effected only after authentication as specified in Section 5 above. ICICI Bank shall have no obligation to verify the authenticity of any transaction received from the USER through PHONE BANKING SERVICE or purporting to have been sent by the USER via PHONE BANKING SERVICE after they are authenticated by the use of (1) ATM/Debit Card or Credit Card or Demat Account Number or Bond holder Number or Folio Number as the case may be or (2) any other procedure which may be prescribed by ICICI Bank. (2) The read-out or the faxed /email output, if any, that is received by the USER at the time of operation of PHONE BANKING is a record of the operation of the telephonic access by the USER and shall not be construed as ICICI Banks own record of the transaction maintained through computer system or otherwise shall be accepted as conclusive and binding for all purpose. All the records of ICICI Bank generated by the transactions arising out of the use of the PHONE BANKING SERVICE, including the time the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transaction. The authority to tape or record the transaction over telephone is hereby expressly granted by the USER to ICICI Bank. (3) While ICICI Bank and the GROUP COMPANIES shall endeavor to carry out the instructions promptly they shall not be responsible for any delay in carrying on the instructions due to any reason whatsoever, including due to failure of operational systems or any requirement of law. 13. Instructions: All the instructions for operating the PHONE BANKING shall be given through telephone by the USER in the manner acceptable to ICICI Bank. The USER is also responsible for the accuracy and authenticity of the instructions provided to ICICI Bank and the same shall be considered to be sufficient to operate the PHONE BANKING. ICICI Bank shall not be required to independently verify the instructions.

ICICI Bank has no liability if it does not or is unable to stop or prevent the implementation of the initial

instruction subsequently revoked by the USER. Where ICICI Bank considers the instructions to be inconsistent or contradictory it may seek clarification from the USER before acting on any instruction of the USER or act upon any such instruction as it thinks fit.

ICICI Bank states that it has no liability or obligation to keep a record of the instructions to provide information to the USER or for verifying USER's instructions. ICICI Bank shall refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence or otherwise of any instruction. ICICI Bank has the right to suspend the operations through the PHONE BANKING if it has reason to believe that the USERs instructions will lead or expose to direct or indirect loss or may require an indemnity from the USER before continuing to operate the PHONE BANKING SERVICE. 14. Accuracy of Information: The USER is responsible for the correctness of information supplied to ICICI Bank for use of the PHONE BANKING SERVICE. ICICI Bank accepts no liability for the consequences arising out of erroneous information supplied by the USER. If the USER notices an error in the information supplied to ICICI Bank either in the application form or any other communication, he shall immediately advice ICICI Bank and ICICI Bank will endeavor to correct the error wherever possible on a reasonable efforts basis. 15. Liability of the USER and ICICI Bank: Neither ICICI Bank nor the GROUP COMPANIES shall be liable for any unauthorized transactions occurring through the use of PHONE BANKING SERVICE and the USER hereby fully indemnifies and holds ICICI Bank and the GROUP COMPANIES harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof. ICICI Bank shall under no circumstance be held liable to the USER if PHONE BANKING access is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of ICICI Bank. Under no circumstances shall ICICI Bank be liable for any damages whatsoever whether such damages are direct, indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, interruption of business or any loss of any character or nature whatsoever and whether sustained by the USER or by any other person. Illegal or improper use of the PHONE BANKING SERVICE shall render the USER liable for payment of financial charges (to be decided by ICICI Bank) or will result in suspension of the operations through the PHONE BANKING SERVICE. 16. Indemnity: In consideration of ICICI-Bank providing the USER the said service of the PHONE BANKING SERVICE the USER shall indemnify and hold ICICI Bank and/or the GROUP COMPANIES, as the case may be, including both their officer, employees and agents, indemnified against all losses and expenses on full indemnity basis which ICICI Bank may incur, sustain, suffer or is likely to suffer in connection with ICICI Bank or GROUP COMPANIES execution of the USERS instructions and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses as a consequence or by reason of providing PHONE BANKING service by ICICI Bank through the PHONE BANKING or for any action taken or omitted to be taken by ICICI Bank and /or the GROUP COMPANIES, its officers, employees or agents, on the instructions of the USER. The USER will pay to ICICI Bank and /or the GROUP COMPANIES such amount as may be determined to be sufficient to indemnify it against any such, loss or expenses even though they may not have arisen or are contingent in nature.

17. Disclosure of INFORMATION: The USER agrees that ICICI Bank and GROUP COMPANIES or their contractors may hold and process his Personal Information and all other information concerning with his ACCOUNT(S) on computer or otherwise in connection with PHONE BANKING SERVICE as well as for analysis, credit scoring and marketing. The USER also agrees that ICICI Bank may disclose, in strict confidence, to other institutions, such INFORMATION as may be reasonably necessary for reasons inclusive of but not limited to participation in any telecommunication or electronic clearing network, in compliance with a legal directive, for credit rating by recognised credit scoring agencies, for fraud prevention purposes. 18. Change of Terms and Conditions: ICICI Bank has the absolute discretion to amend/modify or supplement any of the TERMS at any time and will endeavor to give prior notice of thirty days for such changes wherever feasible. Changed terms and conditions for the new services introduced shall be communicated to the USER. By using the new services, the USER shall be deemed to have accepted the changed terms and conditions. 19. Non-Transferability: The grant of facility of PHONE BANKING to a USER is not transferable under any circumstance and shall be used only by the USER. 20. Termination of PHONE BANKING Service: The USER may request for termination of the PHONE BANKING facility any time by giving a written notice of at least 15 days to ICICI Bank. In event the PHONE BANKING facility is used by all or any joint accountholders, the termination notice shall be given by all the joint accountholders. The termination shall take effect on the completion of the fifteenth day. The USER will remain responsible for any transactions made through the PHONE BANKING until the time of such termination. ICICI Bank may withdraw or terminate the PHONE BANKING SERVICE anytime either entirely or with reference to a specific service or USER. ICICI Bank may suspend or terminate PHONE BANKING facilities without prior notice if the USER has breached these terms and conditions or ICICI Bank learns of the death, bankruptcy or lack of legal capacity of the USER. Clause 13 shall survive the termination of this agreement for any reason whatsoever. 21. Notices: Notices under these TERMS may be given by ICICI Bank and the USER in writing by delivering them by hand or by sending them by post to the last address given by the USER and in the case of ICICI Bank to its Corporate Office address as set out hereinabove. In addition, ICICI Bank may also publish notices of general nature, which are applicable to all USERS of PHONE BANKING in a newspaper or on its web site. Such notices will have the same effect as a notice served individually to each USER. Notice and instructions will be deemed served 7 days after posting or upon receipt in the case of hand delivery, cable, telex or facsimile. 22. Governing Law: These terms and conditions and/or the operations in the accounts of the USER maintained by ICICI Bank and/or the laws of India and no other nation shall govern the use of the services provided through PHONE BANKING. The Parties hereby agree that any legal action or proceedings arising out of these terms and conditions for PHONE BANKING shall be brought in the courts or tribunals at Mumbai in India and irrevocably submit themselves to the jurisdiction of such courts and tribunals. ICICI Bank may, however, in their absolute discretion commence any legal action or proceedings arising out of these terms and conditions for PHONE BANKING in any other court, tribunal or other appropriate forum, and the USER hereby

consents to that jurisdiction. Any provision of these terms and conditions for PHONE BANKING which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of these terms and conditions for PHONE BANKING or affect such provision in any other jurisdiction. 23. APPLICABILITY TO FUTURE ACCOUNTS: ICICI Bank and the USER agree that if the USER opens further Accounts with/subscribes to any of the products/services of ICICI Bank or any of the GROUP COMPANIES, and ICICI Bank extends the PHONE BANKING SERVICE to such Accounts or products or services and the USER opts for use thereof, then these TERMS shall automatically apply to such further use of the PHONE BANKING by the USER. 24. General: (1) The clause headings in this agreement are for only for convenience and do not affect the meaning of the relative clause. (2) ICICI Bank may sub-contract and employ agents to carry out any of its obligations under this contract. ICICI Bank may transfer or assign its rights and obligations under this contract to any other entity. (3) The PHONE BANKING would operate during timings specified by ICICI Bank from time to time and transactions would be carried out on the same day or on the next working day depending upon the time of logging of the transaction. (4) The USER would have to ensure that the telephone he uses meets the criteria. The service is available only in certain cities. All costs incurred by the USER including telecommunication costs to use the PHONE BANKING would be borne by the USER. (5) ICICI Bank may, at its sole discretion and in accordance with the rules, regulations, guidelines etc. that may be framed by the Reserve Bank of India from time to time, utilize the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products / services 25. ASSIGNMENT : (i) ICICI Bank shall be entitled to sell, assign, securitise or transfer ICICI Banks right and obligations under this Agreement and any security in favour of ICICI Bank (including all guarantee/s) to any person of ICICI Banks choice in whole or in part and in such manner and on such terms and conditions as ICICI Bank may decide. Any such sale, assignment, securitisation or transfer shall conclusively bind the USER and all other persons. (ii) The USER, his heirs, legal representatives, executors, administrators and successors are bound by the terms of this Agreement. However, the USER shall not be entitled to transfer or assign any of his rights and obligations under this Agreement.

MOBILE BANKING
[Print Page]

State Bank FreedoM Your Mobile Your Bank Away from home, balance enquiries can be made and/or money sent to the loved ones or bills can be paid anytime 24x7!!! That is what State Bank FreedoM offers -convenient, simple, secure, anytime and anywhere banking. 1. Mobile Banking Service over Application/ Wireless Application Protocol (WAP) The service is available on java enabled /Android mobile phones (with or without GPRS) where the user is required to download the application on to the mobile handset. The service can also be availed via WAP on all phones (java/non java) with GPRS connection. The following functionalities are available: Funds transfer (within and outside the bank) Interbank Mobile Payment Services (IMPS): Click herefor details. Enquiry services (Balance enquiry/ Mini statement) Cheque book request Demat Enquiry Service Bill Payment (Utility bills, credit cards, Insurance premium), Donations, Subscriptions Mobile Top up M Commerce (Top up of Tatasky, BigTV, SunDirect, DishTV, DigitalTV and Videocon d2h connections, SBI life insurance premium)

Business Rules All Current/ Savings Bank Account holders in P segment are eligible. Transaction limit per customer per day is Rs.50,000/- with a calendar month limit of Rs.2,50,000/All customers can avail the Service irrespective of their telecom service provider. The Service is free of charge. SMS/GPRS cost will be borne by the customer.

2. Mobile Banking Service over SMS: The service is available on all phones (java/non java) with/without GPRS connection. No need to download the application. Ordinary SMS charges are applicable. The following functionalities are available: Enquiry Services (Balance Enquiry/Mini Statement)

Mobile Top up DTH Top up/ recharge IMPS- Mobile to Mobile Transfer Change MPIN

Business Rules All Current/ Savings Bank Account holders in P segment are eligible. Transaction limit per customer per day is Rs.1,000/- with a calendar month limit of Rs.5,000/All customers can avail the Service irrespective of telecom service provider. The Service is free of charge. SMS cost will be borne by the customer. As a matter of abundant precaution, Customers are requested to delete all the messages sent to the number 9223440000, once the response for their request has been received.

3. Mobile Banking Service over USSD (Unstructured Supplementary Service Data) The service is available on all phones (java/non java) with/without GPRS connection. No need to download the application. The following functionalities are available: Enquiry Services (Balance Enquiry/Mini Statement) Mobile Top up Funds Transfer (within Bank)

Business Rules All Current/ Savings Bank Account holders in P segment are eligible. Transaction limit per customer per day is Rs.1,000/- with a calendar month limit of Rs.5,000/The Service is available for subscribers of select telecom operators only. The Service is free of charge. USSD session charges will be borne by the customer. The service is session based and requires a response from the user within a reasonable time.

QUALITY IS IT ESSENTIAL FOR BANKS? What is quality The quality -key in banking sector Quality training programmes Dimensions of service quality in banks

QUALITY IS IT ESSENTIAL FOR BANKS? What is quality The quality -key in banking sector Quality training programmes Dimensions of service quality in banks

DEVISING QUANTITATIVE PARAMETERS RETAIL BANKING Accepting a cheque withdrawal Act of an account opening request KYC Norms Update a passbook Issue a draft Answer the forex rates CORPORATE BANKING Total time taken to process a loan application Time required in disbursing a sanctioned facility Time taken by the customer to access the correct person to the branch Number of days taken at the corporate office to process a proposal

ATM downtime % of complaints pertaining to attitude New innovation in ATM System down time Wrong debit correction

Card grievances redressal THE OTHER TWO STEPS Monitoring feedback

Guidelines that could help a bank devise appropriate standards Ensure that font-line staff is knowledgeable and can adequately handle customer queries Ensure that staff is trained to handle all companies in a non- confrontation list manner Encourage front-line staff, who are directly dealing with customers, to suggest various quality improvement measures Ensure that ATM are working at all items Ensure that a helpline is available from the ATM centre Ensure that feedback is regularly sought from customers and acted upon suitably Let the customers know at one time what documentation is required to process loans Ensure that all letters of credit, guarantees, etc. are issued on time Explain all rates , terms and condition , etc. in simple terms, especially in the case of retail loans Address all quires promptly Attempt to ensure transparent procedures within the organisation itself.

SERVICE QUALITY IS IT ESSENTIAL FOR BANKS? With the continuous growth of competition in the market place, understanding customers has become more and more important method of marketing. Research has shown that high service quality contributes significantly to profitability. In search of competitive advantage, both practitioners and academics are keen on accurately measuring service quality in order to better understanding its essential antecedents and consequences, and ultimately establish methods for improving service quality. Now days, the incredible growth of the Internet is changing the way corporations conduct business with consumers who are increasingly expecting higher services, becoming time saved and wanting more convenience. However, due to the services intangibility, inseparability, heterogeneity and perishability of production and consumption, service quality becomes hard to evaluate. Therefore, based on the literature review, the five most frequently mentioned dimensions used in evaluating services were chosen in present study as: reliability, responsiveness, security, communication and access. An attempt has been made in present paper is to gain a better understanding of how Internet affects service quality in the banking sector. A qualitative research was adapted and case studies were conducted from both customer and banking perspectives in this study. Additionally, personal interview was selected as the source for data collection. The result of the present study shows that the Internet is a convenience tool available whenever and wherever customers need it. It is also found that the Internet has improved the factors in service quality like responsiveness, communication and access. It is concluded that the Internet has an important and positive effect on customer perceived banking services and the service quality has been improved since the Internet has been used in banking sector. Furthermore, the study offers suggestions to banking managers to allocate their resources on the dimensions i.e., reliability,

responsiveness, security, communication and access to improve service quality according to its relative importance since the Internet has been used. DIMENSIONS OF SERVICE QUALITY This section aims to identify the various dimensions of service quality proposed by different authors in the services marketing literature and to discuss these dimensions in relation to the banking sector. Technical dimensions: The outcome of the service process to include systems and technology. Functional dimensions: The way the service is delivered to include inter-personal interactions between employees and customers, appearance and personality of service personnel and approachability of personnel. Corporate image dimensions: It is the result of how customers perceive the firm, and can be expected to be built up mainly by the technical and functional quality of its services, and will ultimately affect service perceptions.

All of the above dimensions of service quality are applicable in other service oriented sectors along with banking sector. Most of the services (withdrawal of cash, preparing statements etc.) of a bank are now technology oriented. The quality of banking services also depends on the inter-personal interactions (functional dimensions) between the customers and the employees of the bank.

SECURITY PROVIDED BY THE SBI AND ICICI BANK REGARDING EBANKING IMPORTANT SECURITY TIPS FOR SAFE ONLINE BANKING 1. Access your bank website only by typing the URL in the address bar of your browser. 2. Do not click on any links in any e-mail message to access the site. 3. SBI or any of its representatives never sends you email/SMS or calls you over phone to get your personal information, password or one time SMS (high security) password. Any such e-mail/SMS or phone call is an attempt to fraudulently withdraw money from your account through Internet Banking. Never respond to such email/SMS or phone call. If you receive any such e-mail/SMS or Phone call. Immediately change your passwords if you have accidentally revealed your credentials. 4. Do not be lured if you receive an e-mail/SMS/phone call promising reward for providing your personal information or for updating your account details in the bank site. 5. Having the following will improve your internet security: a. Newer version of Operating System with latest security patches. b. Latest version of Browsers (IE 7.0 and above, Mozilla Firefox 3.1 and above, Opera 9.5 and above, Safari 3.5 and above, Google chrome, etc.) c. Firewall is enabled. d. Antivirus signatures applied 6. Scan your computer regularly with Antivirus to ensure that the system is Virus/Trojan free. 7. Change your Internet Banking password at periodical intervals.

8. Always check the last log-in date and time in the post login page. 9. Avoid accessing Internet banking accounts from cyber cafes or shared PCs.

A good way to put your business in the position of getting repeating and loyal customers is to implement the use of the five Service Quality Dimensions.

The 5 Service Quality Dimensions

Dimension 1 - tangibles Dimension 2 - reliability Dimension 3 - responsiveness Dimension 4 - assurance Dimension 5 empathy The 5 Service Quality Dimensions Every company owner wants to get loyal customers which add to repeating purchases and of cause increasing their maximum revenue. But to get there they need to know about the 5 Service Quality Dimensions. Many actually think that service is just a little part of the marketing mix, but it is actually a very important part of both the 4 and 7 P's

Each of the 5 Service Quality Dimensions makes an extra addition to the level and quality of service which the company offers their customers. It also makes the service far more unique and satisfying. Dimension 1 - Tangibles The tangible Service Quality Dimension refers to the appearance of the physical surroundings and facilities, equipment, personnel and the way of communication. In other words, the tangible dimension is about creating first hand impressions. A

company should want all their customers to get a unique positive and never forgetting first hand impression, this would make them more likely to return in the future. Dimension 2 - Reliability The reliability Service Quality Dimension refers to how the company are performing and completing their promised service, quality and accuracy within the given set requirements between the company and the customer. Reliability is just as important as a goof first hand impression, because every customer want to know if their supplier is reliable and fulfill the set requirements with satisfaction. Dimension 3 - Responsiveness The responsiveness Service Quality Dimension refers to the willingness of the company to help its customers in providing them with a good, quality and fast service. This is also a very important dimension, because every customer feels more valued if they get the best possible quality in the service. Dimension 4 - Assurance The assurance Service Quality Dimension refers to the company's employees. Are the employees skilled workers which are able to gain the trust and confidence of the customers? If the customers are not comfortable with the employees, there are a rather large chance that the customers will not return to do further business with the company. Dimension 5 - Empathy The empathy Service Quality Dimension refers to how the company cares and gives individualized attention to their customers, to make the customers feeling

extra valued and special. The fifth dimension are actually combining the second, third and fourth dimension to a higher level, even though the really cannot be compared as individuals. If the customers feel they get individualized and quality attention there is a very big chance that they will return to the company and do business there again. CONCLUSION: The basic objective of my research was to analyze the service quality and security provided by ICICI and SBI for e- banking. It gives direction to improve the service quality. Although the findings reveal that people know about the services but still many people are unaware and many of them are non users so the bank should by promotion try to retain the customers. Banks should look forward to have some tie ups with other financial institutions to increase the service base.

Advantages of E-Banking The main advantages of E-banking are: The operating cost per unit services is lower for the banks. It offers convenience to customers as they are not required to go to the bank's premises. There is very low incidence of errors. The customer can obtain funds at any time from ATM machines. The credit cards and debit cards enables the Customers to obtain discounts from retail outlets.

 The customer can easily transfer the funds from one place to another place electronically.

ICICI Bank was established in 1996 by the Industrial Credit and Investment Corporation of India, an Indian financial institution, as a wholly owned subsidiary. 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 initially known 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 into ICICI 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 Ahmadabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. In 2008, following the 2008 financial crisis, customers rushed to ATM's and branches in some locations due to rumors 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 rumors.

The roots of the State Bank of India lie in the first decade of 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on June 2, 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on April 15, 1840) and the Bank of Madras (incorporated on July 1, 1843). All three Presidency banks were incorporated as joint stock companies and were the result of the royal charters. These three banks received the exclusive right to issue paper currency in 1861 with the Paper Currency Act, a right they retained until the formation of the Reserve Bank of India. The Presidency banks amalgamated on January 27, 1921, and the reorganized banking entity took as its name Imperial Bank of India. The Imperial Bank of India remained a joint stock company. Pursuant to the provisions of the State Bank of India Act of 1955, the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India. On April 30, 1955, the Imperial Bank of India became the State Bank of India. The government of India recently acquired the Reserve Bank of India's stake in SBI so as to remove any conflict of interest because the RBI is the country's banking regulatory authority. In 1959, the government passed the State Bank of India (Subsidiary Banks) Act, enabling the State Bank of India to take over eight former state-associated banks as its subsidiaries. On September 13, 2008, the State Bank of Saurashtra, one of its associate banks, merged with the State Bank of India.

ICICI Bank I-safe

At ICICI Bank, convenience and safety of your account is of utmost importance. In view of this, we introduced "i-safe" an application to enhance the security of your online account with additional authentication of One Time Password (OTP), which is sent to your registered mobile number / e-mail ID.

In event of any unusual activity in your Internet Banking access pattern, 'i-safe' will generate One Time Password (OTP) that will be sent to your mobile number / e-mail ID registered with us. Authenticating the OTP on Internet Banking 'One Time Password Authentication' page is mandatory to access your account online.

OTP is sent on the registered mobile number to Resident Account holders and on e-mail ID to Non Resident Account holders.

Benefits:
Sends an SMS / e-mail in case of an unusual access pattern in your Internet Banking account. Online account can be accessed only after additional authentication of OTP.

Note: Do not share OTP with anyone, even if the person claims to be an ICICI Bank official. Do not close your browser. OTP sent to you is valid for the current session only. Ensure Anti-virus, JAVA and Flash Player is installed on your computer.

TABLE OF CONTENTS

INTRODUCTION OBJECTIVE OBSERVATION OF STUDY SERVICE QUALITY SECURITY PROVIDED BY BANKS TECHONOLOGY FOLLOWED BY ICICI TECHONOLOGY FOLLOWED BY SBI PRODUCTS AVAILABLE IN BANKS CONCLUSION QUESTIONNAIRE DATA ANALYSIS REFFERENCES

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