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INTRODUCTION
ICICI Bank may be described as a social device to ensure protection of economic value of life
and other assets. Under the plan of ICICI Bank, a large number of people associate themselves
by sharing risks attached to individuals. The risks, which can be insured against, include fire, the
perils of sea, death and accidents and burglary. Any risk contingent upon these, may be insured
against at a premium commensurate with the risk involved. Thus collective bearing of risk is
ICICI Bank.
ICICI Bank is a contract whereby, in return for the payment of premium by the insured, the
insurers pay the financial losses suffered by the insured as a result of the occurrence of
unforeseen events. The term risk is used to describe the possibility of adverse results flowing
from any occurrence or the accidental happenings, which produce a monetary loss.
ICICI Bank is a pool in which a large number of people e!posed to a similar risk make
contributions to a common fund out of which the losses suffered by the unfortunate few, due to
accidental events, are made good. The sharing of risk among large groups of people is the basis
of ICICI Bank. The losses of an individual are distributed over a group of individuals.
Definitions
General definition
In the words of "ohn #agee, $ICICI Bank is a plan by themselves which large number of people
associate and transfer to the shoulders of all, risks that attach to individuals.%
Fundamental definition
In the words of &.'. (ansell, $ICICI Bank accumulated contributions of all parties participating
in the scheme.%
Contractual definition
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In the words of +ustice Tindall, $ICICI Bank is a contract in which a sum of money is paid to the
assured as consideration of insurer s incurring the risk of paying a large sum upon a given
contingency.%
Characteristics of ICICI Bank
'haring of risks
Cooperative device
-ayment on happening of a special event
The amount of payment depends on the nature of losses incurred.
The success of ICICI Bank business depends on the large number of people insured against
similar risk.
ICICI Bank is a plan, which spreads the risk and losses of few people among a large number
of people.
The ICICI Bank is a plan in which the insured transfers his risk on the insurer.
ICICI Bank is a legal contract which is based upon certain principles of ICICI Bank which
includes utmost good faith, insurable interest, contribution, indemnity, causes pro!ima,
subrogation, etc.
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COMAPAN PROFI!"
ICICI Bank is India/s second0largest bank with total assets of 1s. 2,334.35 billion 6U'7 *88
billion9 at #arch 2*, 88: and profit after ta! of 1s. ;*.5: billion for the year ended on #arch
2*, 88:. ICICI Bank is the second amongst all the companies listed on the Indian stock
e!changes in terms of free float market capitalisation. The Bank has a network of about *,28:
branches and 2,358 AT#s in India and a presence in *: countries. ICICI Bank offers a wide
range of banking products and financial services to corporate and retail customers through a
variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of
investment banking, life and non0life insurance, venture capital and asset management or wealth
management. The Bank currently has its subsidiaries in the United
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ICICI Bank is committed to enriching this valuable resource which in turn, will allow it to bring
innovative practices to the world of financial services in India. Eith technology playing the key
role mainly. talented individuals, working in teams and riding on the backbone of world class
technology
%I&TOR
ICICI Bank was originally promoted in *33; by ICICI =imited, an Indian financial institution,
and was its wholly0owned subsidiary. ICICI/s shareholding in ICICI Bank was reduced to ;GH
through a public offering of shares in India in fiscal *33:, an e uity offering in the form of A&1s
listed on the '@ in fiscal 888, ICICI Bank/s ac uisition of Bank of #adura =imited in an all0
stock amalgamation in fiscal 88*, and secondary market sales by ICICI to institutional investors
in fiscal 88* and fiscal 88 . ICICI was formed in *355 at the initiative of the Eorld Bank, the
)overnment of India and representatives of Indian industry. The principal ob+ective was to create
a development financial institution for providing medium0term and long0term pro+ect financing
to Indian businesses. In the *338s, ICICI transformed its business from a development financial
institution offering only pro+ect finance to a diversified financial services group offering a wide
variety of products and services, both directly and through a number of subsidiaries and affiliateslike ICICI Bank. In *333, ICICI become the first Indian company and the first bank or financial
institution from non0"apan Asia to be listed on the '@.
After consideration of various corporate structuring alternatives in the conte!t of the emerging
competitive scenario in the Indian banking industry, and the move towards universal banking, the
managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI
Bank would be the optimal strategic alternative for both entities, and would create the optimal
legal structure for the ICICI group/s universal banking strategy. The merger would enhance value
for ICICI shareholders through the merged entity/s access to low0cost deposits,
After consideration of various corporate structuring alternatives in the conte!t of the emerging
competitive scenario in the Indian banking industry, and the move towards universal banking, the
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managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI
Bank would be the optimal strategic alternative for both entities, and would create the optimal
legal structure for the ICICI group/s universal banking strategy. The merger would enhance value
for ICICI shareholders through the merged entity/s access to low0cost deposits, greater
opportunities for earning fee0based income and the ability to participate in the payments system
and provide transaction0banking services. The merger would enhance value for ICICI Bank
shareholders through a large capital base and scale of operations, seamless access to ICICI/s
strong corporate relationships built up over five decades, entry into new business segments,
higher market share in various business segments, particularly fee0based services, and access to
the vast talent pool of ICICI and its subsidiaries. In Dctober 88*, the Boards of &irectors of
ICICI and ICICI Bank approved the merger of ICICI and two of its wholly0owned retail finance
subsidiaries, ICICI -ersonal ?inancial 'ervices =imited and ICICI Capital 'ervices =imited,with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in "anuary
88 , by the (igh Court of )u+arat at Ahmedabad in #arch 88 , and by the (igh Court of
"udicature at #umbai and the 1eserve Bank of India in April 88 . Conse uent to the merger,
the ICICI group/s financing and banking operations, both wholesale and retail, have been
integrated in a single entity.
GRO'T% OF T%" INDU&TR
()**$ The Industrial Credit and Investment Corporation of India =imited 6ICICI9 incorporated
at the initiatives of the Eorld Bank, The )overnment of India and representatives of Indian
Industry, with the ob+ectives of creating a development financial institution for providing
medium0term and long0term pro+ect financing to Indian Businesses. #r. A. 1amaswami
#udaliar elected as the first chairman of ICICI =imited. ICICI emerges as the ma+or source of
foreign currency loans to Indian Industry. Besides funding from the Eorld Bank and other multi0
lateral agencies, ICICI was also among the first Indian companies to raise funds from
International markets.
()*+$ ICICI declared its first dividend of 2.5H.
()*,$ #r. ).=. #ehta appointed the second chairman of ICICI =imited.
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()+-$ ICICI Building at *G2, Backbay 1eclamation, inaugurated.
()+($ The first Eest )erman =oan of 5 #illion from
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/--/$ ICICI assigned higher than sovereign rating by #oody s.
/--/$ ICICI Bank launched India s first C&D 6CollateraliFed &ebt Dbligation9 ?und named
Indian Corporate CollateraliFed &ebt Dbligation ?und 6ICC&D ?und9.
/--/$ $@ =obby%, a self service banking centre inaugurated in -une. It was the first of its kind
in India.
/--/$ ICICI Bank launched -rivate Banking.
/--/$ **880seat Call Centre set up in (yderabad
/--/$ ICICI Bank (ome 'hoppe, the first0ever permanent aggregation and display of housing
pro+ects in the county, launched in -une,
/--/$ AT#0on0Eheels, India s first mobile AT#, launched in #umbai.
/--1$ The first Integrated Currency #anagement Centre launched in -une.
/--1$ ICICI Bank announced the setting up of its first ever offshore branch in 'ingapore.
/--1$ The first offshore banking unit 6DBU9 at 'eepF 'pecial @conomic one, #umbai,
launched.
/--1$ ICICI Bank s representative office inaugurated in &ubai.
/--1$ 1epresentative office set up in China. J ICICI Bank s U< subsidiary launched
/--1$ India s first ever Kisa #ini Credit Card , a ;2H smaller credit card in dimensions
launched.
/--1$ Temasek (oldings ac uired 5. H stake in ICICI Bank.
/--1$ ICICI Bank became the market leader in retail credit in India.
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/--1$ ICICI bank subsidiary set up in Canada.
/--0$ #a! #oney, a home loan product that offers the dual benefit of higher eligibility and
affordability to a customer introduced.
/--0$ #obile Banking 'ervice in India =aunched in association with 1eliance Infocomm.
/--0$ India s first multi0branded credit card with (-C= and Airtel launched.
/--0$
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/--*$ ICICI Bank and Kisa +ointly launched mCh L a revolutionary credit card on the mobile
phone.
/--*$ -rivate Banking #asters 885, a nationwide )olf tournament for high net worth clients
of the private banking division launched. This event is the largest domestic invitation amateur
golf event conducted in India.
/--*$ ?irst Indian company to make a simultaneous e uity offering of 7*.: billion in India, the
United 'tates and "apan.
/--*$ Ac uired Ivestitsionno
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/--+$ ?inancial Counseling Centre &isha =aunched. &isha provides free credit counseling,
financial planning and debt management services.
/--.$ ICICI BankMs U'& billion 20tranche international bond offering was the largest bond
offering by an Indian bank.
/--.$ 'angli Bank amalgamated with ICICI Bank.
/--.$ ICICI Bank s )B- 258 million international bond offering marked the inaugural deal in
the sterling market from an Indian issuer and also the largest deal in the sterling market from
Asia.
/--.$ ICICI Bank raised 1s. 8,888 crore 6appro! 5 billion9 from both domestic and
international markets through a follow0on public offer.
/--.$ =aunched India s first ever +ewellery card in association with +ewellery ma+or )itan+ali
)roup.
/--.$ ICICI Bank became the first bank in India to launch a premium credit card0 The Kisa
'ignature Credit Card.
/--.$ ?oundation stone laid for a regional hub in )andhinagar, )u+arat.
/--.$ Introduced '#@ Toolkit, an online resource centre, to help small and medium enterprises
start, finance and grow their business.
/--.$ ICICI Bank signed a multi0tranche dual currency U'7 *.5 billion syndication loan
agreement in 'ingapore.
/--.$ ICICI Bank became the first private bank in India to offer both floating and fi!ed rate on
car loans, commercial vehicles loans, construction e uipment loans and professional e uipment
loans.
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/--.$ ICICI Bank @urasia ==C inaugurated its first branch at 't -etersburg, 1ussia.
/--.$ =aunched BankNhome services for all 'avings and Current Account customers residing
in India.
/--.$ In a first of its kind, nation wide initiative to attract bright graduate students to pursue a
career in banking, ICICI Bank launched the $-robationary Dfficer -rogramme%.
/--,$ ICICI Bank enters U', launches its first branch in ew ork
/--,$ ICICI Bank enters )ermany, opens its first branch in ?rankfurt
/--,$ ICICI Bank launched I #obile, a breakthrough innovation in banking where practically
all internet banking transactions can now be simply done on mobile phones.
/--,$ ICICI Bank concluded India/s largest ever securitiFation transaction of a pool of retail
loan assets aggregating to 1s. ;:.3G billion 6e uivalent of U'& *. * billion9 in a multi0tranche
issue backed by four different asset categories. It is also the largest deal in Asia 6e!0"apan9 in
88: till date and the second largest deal in Asia 6e!0"apan O Australia9 since the beginning of
883
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2" P"RON&
2" P"R&ON OF ICICI BAN2
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OB3"CTI#"
There were basically two ob+ectives of the #arket 1esearch that was conducted among the
valuable customers of ICICI Bank. These two ob+ectives wereJ
(4 To kno5 a6out the customers 7erce7tion a6out CA&A 8FD9
This was done to find out that what the customers think about various kinds of products.
/4 To find out the kno5led:e of customers a6out the ;arious 7roduct offerin:s of ICICI
Bank*9 (ow would you like to invest your savings
a9 ?.&.
b9 &irect @ uity
c9 1eal @state
d9 #utual ?unds
e9 )old .
>;9 which investment style do you prefer most
a9 )rowth
b9 Kalue
c9 Dthers .
>G9 Ehich do you think is more profitable
a9 ?.&.
b9 1eal @state
c9 )old .
>49 Ehat time horiFons are you looking to do investment
a9 * ear
b9 *02 ears
c9 205 ears
d9 5 ears .