Project ReportOn

CUSTOMER SATISFACTION

CORPORATE GUIDE                                                                                                                                  FACULTY GUIDEMr. Ravi Parmar                                                                                                                                                      Mr. Rajnish mallickRelationship Manager

Submitted in Partial Fulfillment of the requirement ofPost Graduate Diploma in management

Submitted ByAnkur Singh

PGDM-III, SemesterBatch- 2008-10

Roll no. 014908005

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Centre for Management TechnologyKnowledge Park I Gr. Noida

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Acknowledgements

If words are considered to be signs of gratitude then let these words    Convey    the very    same

My sincere    gratitude to    ICICI    BANK    for providing me    with an opportunity    to work    with

BANK    and    giving necessary directions on doing this project to the best of my abilities.

I am highly indebted to Mr.Remay Verma , Branch Manager    and Mr. Ravi Parmar (RM)

company project guide,    who has    provided    me with    the necessary information    and    also    for

the        support        extended      out    to      me        in          the    completion    of      this      report    and    his      valuable

suggestion and comments    on bringing out this report in the best way possible.

I also thank Prof . Anant    Jyoti,(HODof PGDM ),      who    has sincerely supported me with the

valuable insights into the completion    of this project.

I    am grateful to all faculty members    of C-Mat and    my friends    who have helped me in the

successful completion of this project.

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CONTENTS

Sr. No. Subject Covered Page No.

1 Acknowledgements                2

2 Executive Summary 4

3 My Project Objective 7

4 Banking Structure in India 8

5 Introduction 9

6 History of Banking in India 10

7 Bank In India 17

8 Fact Files of Banks in India 19

9    Indian Banking Industries 26

10 ICICI Bank 28

11 ICICI Group 33

12 Technology used in ICICI Bank 39

13 Product and Customer segments    41

11 Product 44

14 SWOT Analysis 55

15 Research Methodology 57

Company Efforts To Ensure Customer Satisfaction16 59

17 Data Analysis 69

18 Comparison With SBI 79

19 SWOT Analysis(comparative) 87

20 Questionnaire 93

21 Finding 98

422    Suggestion 99Ankur PGDM

23    Conclusion 102

24 Bibliography 103

17 Data Analysis 6918 Comparison With SBI 7919 SWOT Analysis(comparative) 8720 Questionnaire 9321 Finding 9822    Suggestion 9923    Conclusion 10224 Bibliography 103

EXECUTIVE SUMMARY

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Private banking is a concept which is    new and fast emerging in the world of    banking where

changes      have      become      a      necessity      in      order      for      banks      to      survive      in      this      competitive

environment    vis-à-vis    not only from the public and private sector    banks but also from    the

foreign banks.    The    objective    of    the    research    is    to explore    the    various    products,    which    a

private banker deals    into and the systematic process    involved to match client requirements

with the right kind of product.

Through this research one of    the main objectives    is to explore the    reason why most of    the

banks are injecting private banking as business profile to their set of service offerings.

Though private banking evolved in late 80’s in Asia, in India its not more than 5 years    old.

ICICI started it in Aug 2002 and since then it has been a remarkable success. Today there are

enormous    solutions    to    cater      client    needs    but    what    suits    best    to a    client    is    where    private

banking fits in. Every client will have different needs, liking and preferences. So a customized

portfolio for every client is the need of the day.

This research will highlight more on the product portfolio of ICICI Private Banking, how they

have changed or innovatively structured to be attractive and competitive.

Research objective6

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

2. To identify the major attributes of customer satisfaction.

3. To study customer perception about ICICI BANK Ltd.

4. To identify and study the various ways of ensuring customer satisfaction adopted by ICICI

BANK Vs HDFC & SBI.

BANKING STRUCTURE IN INDIA

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Scheduled Banks in India

(A) Scheduled Commercial Banks

Public sector Banks Private sector Foreign Banks in Regional Rural BankBanks India

(28) (27) (29) (102)• Nationalized • Old Private

Bank Banks• Other Public • New Private

Sector Banks Banks(IDBI)• SBI and its

Associates

(B) Scheduled Cooperative Banks

Scheduled Urban Cooperative Scheduled State CooperativeBanks (55) Banks (31)

Here we more concerned about private sector banks and competition among them. Today, there

are 27 private sector    banks in the banking sector: 19 old private sector    banks and 8 new private

sector banks.

These    new    banks    have    brought in state-of-the-art technology and aggressively    marketed their

products.    The Public sector banks    are facing a stiff competition from the      new    private sector

banks.

The      banks      which    have    been    setup    in      the      1990s      under      the      guidelines      of      theNarasimham

Committee are referred to as NEW PRIVATE SECTOR BANKS.

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INTRODUCTION

The banking section will navigate through all the aspects of the Banking System in India. It

will    discuss upon the matters with the birth of    the banking concept in the country to new

players adding their names in the industry in coming few years.

The banker of all banks, Reserve Bank of India (RBI), the Indian Banks Association (IBA)

and top 20 banks like IDBI, HSBC, ICICI, ABN AMRO, etc. has been well defined under

three separate heads with one page dedicated to each bank.

However,    in    the      introduction    part      of    the    entire    banking    cosmos, the    past    has    been    well

explained under three different heads namely:

History of Banking in India

Nationalization of Banks in India

Scheduled Commercial Banks in India

The first deals with the history part since the dawn of banking system in India. Government

took major    step in the 1969 to put    the banking sector    into systems    and it nationalized 14

private banks    in the mentioned year. This    has    been elaborated in Nationalization Banks in

India. The last but not the least explains about the scheduled and unscheduled banks in India.

Section 42 (6)    (a)    of RBI Act 1934 lays down the condition of    scheduled commercial banks.

The descriptions along with a list of scheduled commercial banks are given on this page.

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HISTORY OF BANKING IN INDIA

Without    a sound and effective banking system in India it cannot have a healthy economy.

The banking system of India should not only be hassle free but it should be able to meet new

challenges posed by the technology and any other external and internal factors.

For the past three decades India's banking system has several outstanding achievements to its

credit. The most striking is its extensive reach. It is no longer    confined to only metropolitans

or    cosmopolitans in India. In fact, Indian banking system has    reached even to the    remote

corners of the country. This is one of the main reasons of India's growth process.

The government's regular    policy for Indian bank since 1969 has paid rich dividends with the

nationalization of 14 major private banks of India.

Not long ago, an account holder had to wait for    hours at the bank counters for getting a draft

or    for withdrawing his    own money. Today, he has a choice. Gone are days    when the most

efficient bank transferred money from one branch to other    in two days. Now    it is    simple as

instant messaging or dial a pizza. Money have become the order of the day.

The first bank in India, though conservative, was established in 1786. From 1786 till today,

the journey of Indian Banking System can be segregated into three distinct phases. They are

as mentioned below:

Early phase from 1786 to 1969 of Indian Banks

Nationalization      of      Indian      Banks      and      up      to      1991    prior      to      Indian    banking      sector

Reforms.

New phase of    Indian Banking System with the advent of Indian Financial & Banking

Sector Reforms after 1991.

To make this write-up more explanatory, I    prefix the scenario as Phase I, Phase II    and Phase

III.

Phase I

The General Bank of    India was    set up in the year 1786. Next came Bank of Hindustan and

Bengal Bank. The East India Company established Bank of    Bengal (1809), Bank of Bombay

(1840)    and Bank of    Madras    (1843)    as      independent    units    and called it    Presidency Banks.

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These    three banks were amalgamated in 1920 and Imperial Bank of    India was    established

which started as private shareholders banks, mostly Europeans shareholders.

In    1865      Allahabad    Bank    was      established      and    first      time      exclusively      by    Indians,    Punjab

National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913,

Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank

of Mysore were set up. Reserve Bank of India came in 1935.

During the first phase the growth was very slow and banks also experienced periodic failures

between 1913 and 1948. There were approximately 1100 banks, mostly small. To streamline

the functioning and activities of    commercial banks, the Government of    India came up with

The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949

as    per    amending Act of    1965 (Act No. 23 of    1965). Reserve Bank of    India was vested with

extensive powers for the supervision of banking in India as the Central Banking Authority.

During    those      day’s    public    has      lesser    confidence    in    the      banks.    As      an      aftermath      deposit

mobilization    was      slow.    Abreast      of      it      the      savings      bank      facility    provided      by      the      Postal

department was comparatively safer. Moreover, funds were largely given to traders.

Phase II

Government took major    steps in this Indian Banking Sector Reform after    independence. In

1955, it nationalized Imperial Bank of India with extensive banking facilities on a large scale

especially in rural and semi-urban areas. It formed State Bank of    India to act as the principal

agent of RBI and to handle banking transactions of the Union and State Governments all over

the country.

Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on 19th July,

1969, major process of    nationalization was    carried out. It    was    the effort of    the then Prime

Minister      of    India,    Mrs.    Indira      Gandhi.      14    major      commercial      banks    in    the      country    was

nationalized.

Second phase of nationalization Indian Banking Sector    Reform was carried out in 1980 with

seven more banks. This step brought 80%    of the banking segment in India under Government

ownership.

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The      following      are      the      steps      taken      by      the      Government      of      India      to      Regulate      Banking

Institutions in the Country:

1949: Enactment of Banking Regulation Act.

1955: Nationalization of State Bank of India.

1959: Nationalization of SBI subsidiaries.

1961: Insurance cover extended to deposits.

1969: Nationalization of 14 major banks.

1971: Creation of credit guarantee corporation.

1975: Creation of regional rural banks.

1980: Nationalization of seven banks with deposits over 200 crore.

After    the    nationalization    of    banks,    the      branches    of    the    public      sector    bank    India    rose    to

approximately 800% in deposits and advances took a huge jump by 11,000%.

Banking in the sunshine of Government ownership gave the public implicit faith and immense

confidence about the sustainability of these institutions.

Phase III

This    phase has    introduced many more    products    and facilities    in    the    banking    sector      in its

reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set up

by his name which worked for the liberalization of banking practices.

The country is    flooded with foreign banks and their ATM stations. Efforts    are being put to

give a satisfactory service to customers. Phone banking and net banking is introduced. The

entire system became more convenient and swift. Time is given more importance than money.

The financial system of    India has shown a great deal of resilience. It is    sheltered from any

crisis      triggered      by      any      external      macroeconomics      shock      as      other      East      Asian      Countries

suffered. This is all due to a flexible exchange rate regime, the foreign reserves are high, the

capital    account    is      not    yet      fully    convertible,    and    banks    and    their    customers    have    limited

foreign exchange exposure.

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BANKS IN INDIA

In India the banks are being segregated in different groups. Each group has their own benefits

and limitations in operating in India. Each has their own dedicated target market. Few of them

only work in rural sector    while    others    in both rural as    well as    urban. Many even are only

catering in cities. Some are of Indian origin and some are foreign players.

All these details and many more is discussed over here. The banks and its relation with the

customers, their mode of operation, the names of banks under different groups and other such

useful information’s are talked about.

One more section has been taken note of is the upcoming foreign banks in India. The RBI has

shown certain interest to involve more of    foreign banks than the existing one recently. This

step has paved a way for few more foreign banks to start business in India.

Major Banks in India

• ABN-AMRO Bank • Indian Overseas Bank

• Abu Dhabi Commercial Bank • IndusInd Bank

• American Express Bank • ING Vysya Bank

• Andhra Bank • Jammu & Kashmir Bank

• Allahabad Bank • JPMorgan Chase Bank

• Bank of Baroda • Karnataka Bank

• Bank of India • Karur Vysya Bank

• Bank of Maharastra • Laxmi Vilas Bank

• Bank of Punjab • Oriental Bank of Commerce

• Bank of Rajasthan • Punjab National Bank

• Bank of Ceylon • Punjab & Sind Bank

• BNP Paribas Bank • Scotia Bank

• Canara Bank • South Indian Bank

• Catholic Syrian Bank • Standard Chartered Bank

• Central Bank of India • State Bank of India (SBI)

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• Centurion Bank • State Bank of Bikaner & Jaipur

• China Trust Commercial Bank • State Bank of Hyderabad

• Citi Bank • State Bank of Indore

• City Union Bank • State Bank of Mysore

• Corporation Bank • State Bank of Saurastra

• Dena Bank • State Bank of Travancore

• Deutsche Bank • Syndicate Bank

• Development Credit Bank • Taib Bank

• Dhanalakshmi Bank • UCO Bank

• Federal Bank • Union Bank of India

• HDFC Bank • United Bank of India

• HSBC ICICI Bank • United Bank Of India

• IDBI Bank • United Western Bank

• Indian Bank • UTI Bank

Fact Files of Banks in India

The first, the oldest, the largest, the biggest, get all such types of information’s about Banking

in India in this section.

The first bank in India to be given an ISO Certification Canara Bank

The first bank in Northern India to get ISO    9002 certification for Punjab      and      Sind

their selected branches Bank

The      first    Indian    bank    to      have    been    started      solely      with    IndianPunjab      National

capital Bank

The    first    among the    private sector    banks in Kerala to become    aSouth Indian Bank

scheduled bank in 1946 under the RBI Act

India's      oldest,      largest      and      most      successful      commercial      bank,

offering the widest possible    range of domestic, international    andState Bank of India

NRI products and services, through its vast network in India and

overseas

India's second largest private sector bank and is now    the largest    The      Federal      Bank

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scheduled commercial bank in India Limited

Bank      which      started      as      private      shareholders      banks,      mostlyImperial      Bank      of

Europeans shareholders India

The first Indian bank to open a branch outside India in London in Bank      of      India,

1946 and the first to open a branch in continental Europe at Paris founded      in      1906      in

in 1974 Mumbai

The oldest Public Sector    Bank in India having branches all    over

India and serving the customers for the last 132 years Allahabad Bank

The    first    Indian commercial bank which was    wholly owned and Central      Bank      of

managed by Indians India

Bank of    India was founded in 1906 in Mumbai. It became    the first Indian bank to open a

branch outside India in London in 1946 and the first to open a branch in continental Europe at

Paris in 1974.

PUBLIC SECTOR BANKS

Among the Public Sector Banks    in India, United Bank of India is    one of    the 14 major

banks, which were nationalized on July 19, 1969. Its predecessor, in the Public Sector Banks,

the United Bank of    India Ltd., was formed in 1950 with the amalgamation of four    banks viz.

Camilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Camilla    Union

Bank Ltd. (1922) and Hooghly Bank Ltd.(1932).

Oriental Bank of Commerce (OBC), Government of India Undertaking offers Domestic,15

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NRI    and Commercial    banking services. OBC    is implementing a GRAMEEN    PROJECT in

Dehradun District    (UP) and Hanumangarh District (Rajasthan)    disbursing small loans. This

Public    Sector    Bank India has    implemented 14 point action plan for strengthening of    credit

delivery      to      women      and    has      designated      5      branches      as      specialized      branches    for      women

entrepreneurs.

The following are the list of Public Sector Banks in India

• Allahabad Bank

• Andhra Bank

• Bank of Baroda

• Bank of India

• Bank of Maharastra

• Canara Bank

• Central Bank of India

• Corporation Bank

• Dena Bank

• Indian Bank

• Indian Overseas Bank

• Oriental Bank of Commerce

• Punjab & Sind Bank

• Punjab National Bank

• Syndicate Bank

• UCO Bank

• Union Bank of India

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• United Bank of India

• Vijaya Bank

List of State Bank of India and its subsidiary, a Public Sector Banks

• State Bank of India

State Bank of Bikaner & Jaipur

State Bank of Hyderabad

State Bank of Indore

State Bank of Mysore

State Bank of Saurastra

State Bank of Travancore

PRIVATE SECTOR BANKS:

Private banking in India was    practiced since the beginning of    banking system in India. The

first private bank in India to be set up in Private Sector Banks in India was IndusInd Bank. It

is one of the fastest growing Bank Private Sector Banks in India. IDBI ranks the tenth largest

development    bank in the world    as    Private    Banks    in India    and has      promoted    world class

institutions in India.

The first Private Bank in India to receive an in principle approval from the Reserve Bank of

India was Housing Development Finance Corporation Limited, to set up a bank in the private

sector banks in India as part of the RBI's liberalization of the Indian Banking Industry. It was

incorporated in August 1994 as HDFC    Bank Limited with registered office in Mumbai and

commenced operations as Scheduled Commercial Bank in January 1995.

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ING Vysya, yet another    Private Bank of India was incorporated in the year    1930. Bangalore

has    a pride of place for having the first branch inception in the year    1934. With successive

years of    patronage and constantly setting new    standards in banking, ING    Vysya Bank has

many credits to its account.

List of Private Banks in India

• Bank of Punjab

• Bank of Rajasthan

• Catholic Syrian Bank

• Centurion Bank

• City Union Bank

• Dhanalakshmi Bank

• Development Credit Bank

• Federal Bank

• HDFC Bank

• ICICI Bank

• IDBI Bank

• IndusInd Bank

• ING Vysya Bank

• Jammu & Kashmir Bank

• Karnataka Bank

• Karur Vysya Bank

• Laxmi Vilas Bank

• South Indian Bank

• United Western Bank

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INDIAN BANKING INDUSTRY

The Indian banking market is growing at an astonishing rate, with Assets expected to reach

US$1      trillion    by      2010.          An    expanding      economy,            middle      class,          and      technological

innovations are all contributing to this growth.

The country’s middle class accounts for over 320 million People.    In correlation with the

growth of the economy, rising income levels, increased standard of living, and affordability of

banking products are promising factors for continued expansion.

The Indian banking market is growing at an astonishing rate, with Assets    expected to reach

US$1      trillion    by      2010.          An    expanding      economy,            middle      class,          and      technological

innovations are all contributing to this growth.

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The    Indian    banking    Industry    is in the middle of      an        IT      revolution, Focusing    on      the

expansion      of        retail      and rural        banking. Players        are becoming increasingly customer    -

centric in        their approach, which has resulted in innovative methods of offering new banking

products and services.        Banks    are    now    realizing        the    importance of    being    a    big    player

and are beginning to focus their attention on    mergers        and    acquisitions    to      take      advantage

of economies of    scale and/or        comply      with      Basel II          regulation.“Indian banking industry

assets are expected to reach US$1 trillion by 2010 and are poised    to receive a greater    infusion

of foreign capital,”    says Prathima Rajan , analyst in Celent's banking group and author of    the

report. “The banking industry should focus on having a small number of large players that can

compete globally rather than having a large number of fragmented players."

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Type Private, BSE & NSE, NYSE

1955 (as Industrial credit andFounded

Investment corporation of India)

ICICI Bank Ltd.,

ICICI Bank Towers,

Headquarters

Bandra Kurla

Mumbai, India

N Vaghul, K.V. Kamath , Chanda

Key people Kochhar , V Vaidyanathan, Madhabi

Puri

Banking

Industry Insurance

Capital Markets and allied industries

Loans, Credit Cards , Savings,Products

Investment vehicles, Insurance etc.

Revenue USD5.79 billion

Rs. 3,997.95 billion (US$ 100Total assetsbillion)at March 31, 2008.

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OVERVIEW

ICICI    Bank(formerly Industrial    Credit    and Investment    Corporation    of    India).IC ICI

Limited was established in 1955 by the World Bank, the Government of India and the Indian

Industry, for the promotion of    industrial development in India by giving project and corporate

finance to the industries in India.

ICICI Bank has grown from a development bank to a financial conglomerate and has become

one of the largest public financial institutions in India. ICICI    Bank has financed all the major

sectors    of    the    economy,    covering 6,848 companies    and 16,851 projects. As    of    March 31,

2000, ICICI had disbursed a total of Rs.1,13,070 crores, since inception.

ICICI Bank Fact Files:

Total assets: Rs.146,214 crore (December 31, 2004)

Network: 530 branches

ATMs:Over 1,880

Abroad Subsidiaries: United Kingdom and Canada

Abroad branches: Singapore and Bahrain

Representative    offices:United States, China, United    Arab Emirates, and Bangladesh and

South Africa.

ICICI Bank is India's second-largest bank with total assets of about Rs. 2,513.89 bn (US$

56.3 bn)    at March 31, 2006 and profit after    tax of Rs. 25.40 bn (US$ 569 mn)    for    the year

ended March 31, 2006 (Rs. 20.05 bn (US$ 449 mn)    for    the year    ended March 31, 2005).

ICICI    Bank has    a network of    about    614 branches    and extension counters    and    over    2,200

ATMs.      ICICI      Bank    offers      a      wide      range      of    banking      products      and    financial      services      to

corporate      and      retail      customers      through      a      variety      of      delivery      channels      and      through      its

specialized subsidiaries    and affiliates in the areas    of    investment    banking, life and non-life

insurance, venture capital and asset management. ICICI Bank set up its international banking

22Ankur PGDM

group in fiscal 2002 to cater    to the cross border    needs of clients and leverage on its domestic

banking strengths to offer products internationally.

ICICI Bank ( BSE: ICICI)    (Industrial Credit    and    Investment    Corporation of    India)    is

India's largest private sector bank in market capitalization and second largest overall in terms

of    assets.    Bank has    total    assets    of    about USD    100 billion (at the end of    March    2008), a

network of over 1,491 branches, 22 regional offices and 49 regional processing centers, about

4,485 ATMs (at the    end of    September 2008), and 24 million customers (at the end of July

2007). ICICI Bank offers a wide range of banking products and financial services to corporate

and retail customers    through a variety of    delivery channels    and specialized subsidiaries    and

affiliates    in the areas of investment banking, life and non-life insurance, venture capital and

asset management. (These data are dynamic.) ICICI Bank is also the largest issuer of    credit

cards in India. ICICI Bank has got its equity shares listed on the stock exchanges at Kolkata

and Vadodara, Mumbai and the National Stock Exchange of India Limited, and its ADRs on

the New York Stock Exchange (NYSE).

The    Bank is expanding in overseas    markets and has    the largest international balance    sheet

among      Indian      banks.      ICICI      Bank      now      has      wholly-owned      subsidiaries,      branches      and

representatives    offices in 18 countries, including an offshore unit in Mumbai. This includes

wholly owned subsidiaries    in Canada, Russia and the UK (the subsidiary through which the

hisavesavings      brand    is    operated),    offshore    banking    units    in    Bahrain      and    Singapore,    an

advisory branch in Dubai, branches in Belgium, Hong Kong and Sri Lanka, and representative

offices in Bangladesh, China, Malaysia, Indonesia, South Africa, Thailand, the United Arab

Emirates and USA. Overseas, the Bank is targeting the NRI (Non-Resident Indian) population

in particular.

ICICI    reported a 1.15% rise in net profit to Rs. 1,014.21 crore on a 1.29%    increase in total

income to Rs. 9,712.31 crore in Q2 September    2008 over Q2 September 2007. The bank's

current and savings account (CASA) ratio increased to 30% in 2008 from 25% in 2007.

23Ankur PGDM

ICICI      Bank currently    has    subsidiaries    in the    United    Kingdom,    Russia    and    Canada,

branches    in Singapore,    Bahrain, Hong    Kong,    Sri Lanka    and    Dubai    International    Finance

Center    and representative offices in the United States, United Arab Emirates, China, South

Africa and Bangladesh. Our    UK subsidiary has established a branch in Belgium. ICICI    Bank

is the most valuable bank in India in terms of market capitalization.

ICICI    Bank's    equity shares    are listed in India on the Bombay Stock Exchange and the

National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are

listed on the New York Stock Exchange (NYSE).

ICICI Bank has formulated a Code of Business Conduct and Ethics for its Directors and

employees. At June 5, 2006, ICICI    Bank, with free float market capitalization of    about Rs.

480.00 billion (US$ 10.8 billion)    ranked third amongst all the companies listed on the Indian

stock exchanges.

ICICI    Bank was      originally    promoted    in    1994 by    ICICI    Limited,    an    Indian financial

Institution, and was    its    wholly owned subsidiary. ICICI's    shareholding in ICICI Bank was

reduced to 46%    through a public offering of shares in India in fiscal 1998, an equity offering

in the form of ADRs listed on the NYSE in fiscal 2000, ICICI B ank's acquisition of Bank of

Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by

ICICI    to institutional investors in fiscal 2001 and fiscal 2002. ICICI    was    formed in 1955 at

the    initiative    of    The World Bank, the    Government    of    India and representatives    of      Indian

industry.

The principal objective was    to create a development financial institution for Providing

medium-term    and    long-term    project      financing    to    Indian    businesses.    In    the    1990s,    ICICI

transformed its business from a development financial institution offering only project finance

to a diversified financial service group offering a wide variety of products and services, both

directly and through a number of subsidiaries and affiliates like ICICI    Bank. In 1999, ICICI

become the first Indian company and the first bank or financial institution from non-Japan

Asia to be listed on the NYSE.

24Ankur PGDM

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of

ICICI      and    two    of      its      wholly    owned    retail    finance    subsidiaries,    ICICI    Personal      Financial

Services    Limited and ICICI    Capital Services    Limited,    with ICICI    Bank. The    merger    was

approved by shareholders    of    ICICI and ICICI Bank in January 2002, by the High Court of

Gujarat at    Ahmadabad in March 2002, and by the High Court of Judicature at Mumbai and

the      Reserve    Bank    of      India    in    April      2002.    Consequent    to    the    merger,    the      ICICI      group's

financing and banking Operations, both wholesale and retail, have been integrated in a single

entity.

Free float holding excludes all promoter    holdings, strategic investments    and Cross holdings

among        public sector entities.

25Ankur PGDM

BUSINESS OBJECTIVES

Vision

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

Mission

We will leverage our people, technology, speed and financial capital to:be the banker of first choice for our customers by delivering high quality, world-classservice.

Expand the frontiers of our business globally.Play a proactive role in the full realisation of India’s potential.maintain a healthy financial profile and diversify our earnings across businesses and

geographies.Maintain high standards of governance and ethics.Contribute positively to the various countries and markets in which we operate.Create value for our stakeholders.

Product and Services

Service and banking of ICICI bank categorized in to personal banking, business banking andNRI banking services.

Personal banking- Deposit in form of saving, recurring, term deposit, senior citizen depositand    children    depository    account    are    there    for    individual    customer    can    also    avail    of    theirhousing, automobile, farm equipment, business or personal loan scheme. Personal client canalso invest in mutual funds and participate in stock trading through ICICI bank.

Business banking – Business banking services of ICICI Bank are exhaustive. Projectfinancing, deal assessment, and land evaluation are investment banking services offered to

corporate clients. Global trade and cash management transaction services facilitateremittances and receipts across important cities. Capital market and custodial services enable

business houses to participate in equity trading and transfer across major stock markets ofworld.

Customer

ICICI    bank targets    all segment    of customer    with various    types    of    products    and services. I

interacted    with    a    a    lot    of      customers    and    collect    their    feedback    on the    given    services      of

company,      and      feedback      are      positive      response      from      all      point      of      view.      Customers      are

beneficiary from both sides monetary as well as non monetary. The bank targets to add nearly

26Ankur PGDM

500,000 customers under    the new scheme in the next one year    and plans to offer auto loans

through      the      new      online      channel      in      the      future,      ICICI      Bank's      Executive      Director,      V

Vaidyanathan, said here.

"As of    now, nearly 24 per cent of our customer transactions    are happening through internet.

We are primarily targeting our urban customers, who constitute nearly 70 per cent of our total

customer-base," Vaidyanathan said.

Customers, opting for    the service can also benefit from the quantum optima facility, wherein

if the balance exceeds Rs 5,000, the money will automatically be transferred to a fixed deposit

scheme, he said. The facility, which also enable customers to transact between an ICICI    Bank

account    and    accounts    in    other    banks,    is    being offered    free    of      cost,    he    said    ICICI    bank,

presently, has above 2 crore    customers. The lender    opened nearly 470 branches in the    last

fiscal. The lender has also plans to launch 'SMS n Cash' scheme later this week under which

ICICI    account holders    can transfer    funds    to those who do not have    a    bank account. ICICI

bank    is    strongly    committed    to protecting    the    privacy    of      its    customers    and    has    taken    all

necessary and reasonable measures to protect the confidentiality of the customer information

and its transmission through the world wide web and it shall not be held liable for    disclosure

of the confidential information when in accordance with this privacy commitment or in terms

of the agreements, if any, with the customers.

ICICI bank Endeavour’s to safeguard and ensure the security of the information provided by

the    customer. ICICI    bank uses    128-bit encryption, for    the transmission of the information,

which is currently the permitted level of    encryption in India. When the information provided

by      the      customers      is    not      transmitted    through      this      encryption,      the      customer's      system      (if

configured accordingly) will display an appropriate message ensuring the best level of secrecy

for the customer's information.

The customer would be required to cooperate with ICICI    bank in order to ensure the security

of      the      information,      and      it      is      recommended    that      the    customers      necessarily      choose    their

passwords    carefully such that no unauthorized access is made by a third party. To make the

password complex and difficult for others to guess, the customers should use combination of

alphabets,      numbers      and      special      characters      (like!      @,      #,      $      etc.).      The      customers      should

undertake not to disclose their password to anyone or keep any written or other    record of    the

password such that a third party could access it.

ICICI    bank undertakes    not to disclose the information provided by the customers to

any person, unless such action is necessary to:

Conform to legal requirements or comply with legal process;

27Ankur PGDM

Protect and defend ICICI bank's or its affiliates rights, interests or property;

Enforce the terms and conditions of the products or services; or

Act to protect the interests of ICICI    bank, its affiliates, or its members, constituents or

of other persons .

Competitor

The main competitor of is ICICI bank is SBI because this bank is totally taken by government

after this bank HDFC bank is the main competitor of    ICICI bank .There are different types of

segment operation semment, investment and services, demat and NRI services.The competitor

from the operation segment are    State Bank of    India(SBI), Axis, Housing Development and

Financial corporation(HDFC) etc.From the investment And service sector HDFC    standard life

insurance corporation, Bharati Axa life insurance ,Reliance Life Insurance Corporation, Max

new    work life insurance    SBI    Life    insurance,Life    Insurance    Corporation    of    India.In demat

section    India    bull,Anangram,SBI,HDFC,India    Infoline    are    the    main      competitor      of    ICICI

bank.In the NRI service section the Western Union bank is    the    main competitor    of ICICI

bank.There are some other company who also compete with the ICICI bank    After the SBI the

HDFC bank is the main competitor of ICICI bank.

HDFC    Bank    Ltd. is a    commercial    bank    of    India, incorporated in August    1994, after    the

Reserve Bank of India allowed establishing private sector banks. The Bank was promoted by

28Ankur PGDM

the    Housing Development Finance Corporation, a premier    housing finance company (set up

in 1977)    of    India. HDFC    Bank has    1,500 branches and over    2,890 ATMs, in 530 cities    in

India, and all branches of    the bank are linked on an online real-time basis. As of September

30, 2008 the bank had total assets of INR 1006.82 billion.

State Bank of India is the largest bank in India. It is also, measured by the number of branch

offices and employees, the second largest bank in the world.[citation needed] The bank traces

its ancestry back through the Imperial Bank of India to the founding in 1806 of    the Bank of

Calcutta, making it the oldest commercial bank in the Indian Subcontinent. The Government

of    India    nationalised    the Imperial    Bank of    India    in 1955, with the    Reserve    Bank of    India

taking a 60% stake, and renamed it the State Bank of India. In 2008, the Government took

over    the stake held by the Reserve Bank of India.SBI    provides a range of banking products

through its    vast network in India and overseas, including products aimed at    NRIs. With an

asset    base of      $126 billion    and its    reach, it    is    a    regional    banking    behemoth. SBI    has    laid

emphasis      on      reducing      the      huge      manpower      through    Golden      handshake    schemes      and

computerizing    its    operations.The      State    Bank Group,    with    over    16000    branches    ,    has      the

largest branch network in India. It has    a market share among Indian commercial    banks    of

about 20%    in deposits and advances, and SBI    accounts    for almost one-fifth of    the nation’s

loans.There are    some other banks which gives    challenging    some    how in the      banking and

service sectorthey are:

Allahabad Bank

Andhra Bank

Bank of Baroda

Bank of India

Bank of Maharashtra

Canara Bank

Central Bank of India

Corporation Bank

Dena Bank

IDBI Bank

Indian Bank

Indian Overseas Bank

Oriental Bank of Commerce

29Ankur PGDM

Punjab & Sind Bank

Punjab National Bank

Syndicate Bank

UCO Bank

Union Bank of India

United Bank of India

Vijaya Bank

Environment An employer    the bank extends    a lot of    authority along with justified accountability to you.

The working culture is very collaborative in nature. It can be owed to the fact that the bank is

highly segmented with a lot of overlapping and mostly distinct roles and responsibility.ICICI

Bank has established itself    as a one stop solution (Universal Bank)    for    all financial need of

individuals and institutions alike. The credit for the same can be attributed to its vast network,

probably the largest among private sector    banks.This makes    the    life    of    an employee a    lot

easier, especially for those who face the external customers. You do not have to justify your

organization, it is    only the product that has to be pitched. As far    as    employee benefits    are

concerned,    ICICI    Bank    offers    a    lot of    financial    benefits    ranging from    your    family    health

insurance to your    kids    school    donations. The    organization is    sensitive to the    needs    of    its

employees as this quality is    one of    the building blocks (DNA)    of    the organizational culture.

The organization will be giving you enough flexibility to innovate and come-up with new

ideas. It will also exhibit its in terms of well laid systems, processes and infrastructure. It will

extend a fast track growth for those with extraordinary talent at the same time offer stability to

those who are able to deliver    satisfactorily.Overall, I would say it’s    a lifetime experience to

work with such a behemoth organization. It might not be the best paymaster but it definitely

30Ankur PGDM

will impress    you with its capability as the head master (Principal)    of    banking industry.there

are huge competition between the eployee to achieve theo goal.

BUSINESS OBJECTIVES:

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

We will leverage our people, technology, speed and financial capital to:be the banker of first choice for our customers by delivering high quality, world-classservice.

expand the frontiers of our business globally.play a proactive role in the full realisation of India’s potential.maintain a healthy financial profile and diversify our earnings across businesses and

geographies.maintain high standards of governance and ethics.contribute positively to the various countries and markets in which we operate.create value for our stakeholders.

Product and ServicesService and banking of ICICI bank categorized in to personal banking, business banking andNRI banking services.Personal banking- Deposit in form of saving, recurring, term deposit, senior citizen depositand    children    depository    account    are    there    for    individual    customer    can    also    avail    of    theirhousing, automobile, farm equipment, business or personal loan scheme. Personal client canalso invest in mutual funds and participate in stock trading through ICICI bank.

Business      banking –Business      banking    services    of      ICICI    Bank    are      exhaustive.    Projectfinancing, deal assessment, and land evaluation are    investment banking services    offered tocorporate      clients.      Global      trade      and      cash      management      transaction      services      facilitateremittances and receipts    across important cities. Capital market and custodial services    enablebusiness    houses    to participate in equity trading and transfer    across    major    stock markets    ofworld.

CUSTOMER

ICICI    bank targets    all segment    of customer    with various    types    of    products    and services. Iinteracted    with    a    a    lot    of      customers    and    collect    their    feedback    on the    given    services      ofcompany,      and      feedback      are      positive      response      from      all      point      of      view.      Customers      arebeneficiary from both sides monetary as well as non monetary. The bank targets to add nearly500,000 customers under    the new scheme in the next one year    and plans to offer auto loans

31Ankur PGDM

through      the      new      online      channel      in      the      future,      ICICI      Bank's      Executive      Director,      VVaidyanathan, said here.

"As of    now, nearly 24 per cent of our customer transactions    are happening through internet.We are primarily targeting our urban customers, who constitute nearly 70 per cent of our totalcustomer-base," Vaidyanathan said.

Customers, opting for    the service can also benefit from the quantum optima facility, whereinif the balance exceeds Rs 5,000, the money will automatically be transferred to a fixed depositscheme, he said. The facility, which also enable customers to transact between an ICICI    Bankaccount    and    accounts    in    other    banks,    is    being offered    free    of      cost,    he    said    ICICI    bank,presently, has above 2 crore    customers. The lender    opened nearly 470 branches in the    lastfiscal. The lender has also plans to launch 'SMS n Cash' scheme later this week under whichICICI    account holders    can transfer    funds    to those who do not have    a    bank account. ICICIbank    is    strongly    committed    to protecting    the    privacy    of      its    customers    and    has    taken    allnecessary and reasonable measures to protect the confidentiality of the customer informationand its transmission through the world wide web and it shall not be held liable for    disclosureof the confidential information when in accordance with this privacy commitment or in termsof the agreements, if any, with the customers.

ICICI bank Endeavour’s to safeguard and ensure the security of the information provided bythe    customer. ICICI    bank uses    128-bit encryption, for    the transmission of the information,which is currently the permitted level of    encryption in India. When the information providedby      the      customers      is    not      transmitted    through      this      encryption,      the      customer's      system      (ifconfigured accordingly) will display an appropriate message ensuring the best level of secrecyfor the customer's information.

The customer would be required to cooperate with ICICI    bank in order to ensure the securityof      the      information,      and      it      is      recommended    that      the    customers      necessarily      choose    theirpasswords    carefully such that no unauthorized access is made by a third party. To make thepassword complex and difficult for others to guess, the customers should use combination ofalphabets,      numbers      and      special      characters      (like!      @,      #,      $      etc.).      The      customers      shouldundertake not to disclose their password to anyone or keep any written or other    record of    thepassword such that a third party could access it.

ICICI    bank undertakes    not to disclose the information provided by the customers toany person, unless such action is necessary to:

Conform to legal requirements or comply with legal process;

Protect and defend ICICI bank's or its affiliates rights, interests or property;

Enforce the terms and conditions of the products or services; or

Act to protect the interests of ICICI    bank, its affiliates, or its members, constituents orof other persons.

COMPETITORThe main competitor of is ICICI bank is SBI because this bank is totally taken by governmentafter this bank HDFC bank is the main competitor of    ICICI bank .There are different types ofsegment operation semment, investment and services, demat and NRI services.The competitorfrom the operation segment are    State Bank of    India(SBI), Axis, Housing Development andFinancial corporation(HDFC) etc.From the investment And service sector HDFC    standard lifeinsurance corporation, Bharati Axa life insurance ,Reliance Life Insurance Corporation, Maxnew    work life insurance    SBI    Life    insurance,Life    Insurance    Corporation    of    India.In dematsection    India    bull,Anangram,SBI,HDFC,India    Infoline    are    the    main      competitor      of    ICICIbank.In the NRI service section the Western Union bank is    the    main competitor    of ICICIbank.There are some other company who also compete with the ICICI bank    After the SBI theHDFC bank is the main competitor of ICICI bank.

32Ankur PGDM

HDFC    Bank    Ltd. is a    commercial    bank    of    India, incorporated in August    1994, after    theReserve Bank of India allowed establishing private sector banks. The Bank was promoted bythe    Housing Development Finance Corporation, a premier    housing finance company (set upin 1977)    of    India. HDFC    Bank has    1,500 branches and over    2,890 ATMs, in 530 cities    inIndia, and all branches of    the bank are linked on an online real-time basis. As of September30, 2008 the bank had total assets of INR 1006.82 billion.

State Bank of India is the largest bank in India. It is also, measured by the number of branchoffices and employees, the second largest bank in the world.[citation needed] The bank tracesits ancestry back through the Imperial Bank of India to the founding in 1806 of    the Bank ofCalcutta, making it the oldest commercial bank in the Indian Subcontinent. The Governmentof    India    nationalised    the Imperial    Bank of    India    in 1955, with the    Reserve    Bank of    Indiataking a 60% stake, and renamed it the State Bank of India. In 2008, the Government tookover    the stake held by the Reserve Bank of India.SBI    provides a range of banking productsthrough its    vast network in India and overseas, including products aimed at    NRIs. With anasset    base of      $126 billion    and its    reach, it    is    a    regional    banking    behemoth. SBI    has    laidemphasis      on      reducing      the      huge      manpower      through    Golden      handshake    schemes      andcomputerizing    its    operations.The      State    Bank Group,    with    over    16000    branches    ,    has      thelargest branch network in India. It has    a market share among Indian commercial    banks    ofabout 20%    in deposits and advances, and SBI    accounts    for almost one-fifth of    the nation’sloans.There are    some other banks which gives    challenging    some    how in the      banking andservice sectorthey are:

Allahabad Bank

Andhra Bank

Bank of Baroda

Bank of India

Bank of Maharashtra

Canara Bank

Central Bank of India

Corporation Bank

Dena Bank

IDBI Bank

Indian Bank

Indian Overseas Bank

Oriental Bank of Commerce

Punjab & Sind Bank

Punjab National Bank

Syndicate Bank

UCO Bank

Union Bank of India

United Bank of India

Vijaya Bank

ENVIRONMENT

33Ankur PGDM

An employer    the bank extends    a lot of    authority along with justified accountability to you.The working culture is very collaborative in nature. It can be owed to the fact that the bank ishighly segmented with a lot of overlapping and mostly distinct roles and responsibility.ICICIBank has established itself    as a one stop solution (Universal Bank)    for    all financial need ofindividuals and institutions alike. The credit for the same can be attributed to its vast network,probably the largest among private sector    banks.This makes    the    life    of    an employee a    loteasier, especially for those who face the external customers. You do not have to justify yourorganization, it is    only the product that has to be pitched. As far    as    employee benefits    areconcerned,    ICICI    Bank    offers    a    lot of    financial    benefits    ranging from    your    family    healthinsurance to your    kids    school    donations. The    organization is    sensitive to the    needs    of    itsemployees as this quality is    one of    the building blocks (DNA)    of    the organizational culture.The organization will be giving you enough flexibility to innovate and come-up with newideas. It will also exhibit its in terms of well laid systems, processes and infrastructure. It willextend a fast track growth for those with extraordinary talent at the same time offer stability tothose who are able to deliver    satisfactorily.Overall, I would say it’s    a lifetime experience towork with such a behemoth organization. It might not be the best paymaster but it definitelywill impress    you with its capability as the head master (Principal)    of    banking industry.thereare huge competition between the eployee to achieve theo goal.

TECHNOLOGY

ICICI      use      many      type      of      advance      technological      software      like      Pinnacle      7.0      andPinnacle7.016.Among      from      this    software      ICICI    bank    uses      the    e-banking,      core      banking,mobile banking electronic display sy ICICI    Bank was using Teradata for its data warehouse.However,      due      to      its      proprietary      hardware,      the      cost      of      procurement,      upgrades      andadministration was    soaring. The closed box architecture of    Teradata imposed restrictions    onscalability. Secondly, querying and loading could not happen simultaneously. Queries couldonly be run during business    hours because the loading of data had to take place during off-business    hours. This    meant that    the refresh rate of EDW was    delayed, so queries    may notreflect the most current    data. ICICI    Bank was also dependent on Teradata for    support andother activities: The bank was completely tied down to that solution.

These    issues compelled ICICI    Bank to look for    more efficient and flexible solutions. Thesolution    would have    to    address      not    only    current    issues,    but    accommodate    future    growthexpectations    and business requirements. ICICI    Bank evaluated numerous    data warehousingsolutions in the pursuit of solving its issues, and developed a shortlist of    alternatives for itsmigration    proof-of-concept: Sybase, SAS    and Netezza. The    primary criteria for    evaluationwas the price-to-performance ratio where Sybase IQ emerged the clear winner.      During thisrigorous    testing, Sybase IQ delivered faster    results on independent hardware and operatingsystems with minimum infrastructure. Commending the improvements achieved, Amit Sethi,Joint General Manager, ICICI bank says, "What impressed us wasthat even with overall lowercosts, we could achieve significantly better query performanceafter implementing the Sybaseenterprise      warehouse      solution."    ICICI      Infotech      today      launched      an      enterprise      resourceplanning (ERP) solution for the small and medium enterprises.

The    ERP    package    -      Orion Advantage -    comes    bundled    with    an HP    dual    processor      Xeonserver, Oracle 9i database, Windows 2003 server    and costs about Rs 9.90 lakh and has a 15-user license.

An ERP package helps a manufacturer    or any other business implementing it to manage allthe important parts    in the company such as    product planning, parts purchasing, maintaininginventory and interacting with suppliers and customers.

ICICI Infotech officials told a press conference here today that Orion Advantage offered a setof      business      practice      solutions    for    industry    segments    such    as    engineering,    auto    ancillary,pharmaceuticals, chemicals and IT distribution. Besides the cost advantage, the ERP package

34Ankur PGDM

also came pre-configured. ICICI Infotech had mapped the processes specific to each industrysegment into the package.

Mr. Manoj Kunkalienkar, Executive Director    and President, ICICI    Infotech, said that smalland medium enterprises (SMEs) offered a good market and ICICI    Infotech hoped to become aleading solution provider to this segment.

Mr. R.K. Kanthi, Deputy General Manager, ICICI Infotech, said there was no ERP packagefor the SMEs that bundled the server, database and operating system right now. That was theadvantage      ICICI      Infotech    offered    to    SMEs    as    Orion    Advantage    came      bundled    and    pre-configured. Besides    the high cost of generic ERP packages, their    implementation time as    faras SMEs were concerned was also long. Orion Advantage could be installed in 45 days.

ICICI    Infotech had signed up six customers so far for    the package and hoped to garner    a 15per    cent market share of the SME segment, whose number    in the country was    estimated at2.30 lakh.

Mr. K.S.    Natarajan, Managing Director, Trident Pneumatics Pvt Ltd of    Coimbatore, one ofthe companies that had installed Orion Advantage, said that the company had tried three otherERP packages, all of which had failed, before settling on Orion Advantage.

Mr Kunkalienkar    said that ICICI Infotech planned to move the two development centers inChennai into a single location and double the    staff strength from    300 now in the next twoyears.

The Chennai centers were involved in research and development of Orion ERP solutions andPremia, an insurance package.

ERP Systems IntegrationPinnacle      Software      Solutions      has      the      expertise      and      experience      to      assist      you      with      yourenterprise systems    integration. From developing your    strategy, through implementation andsupport, we bring the right    combination of    resources, management    skillsets, and technicalknow-how.    We    will    help    you    successfully    integrate    yourEnterprise    Resource    Planning(ERP) systems into your overall business and technology infrastructure.

Whether    you are planning an upgrade of an existing ERP system, or    a complete replacementof    a      legacy      application    and    platform,      we      can    help    you    improve      your      financial,    humanresources,      electronic    mail,      and    other    business    systems.    We    work    with    the      leading    ERPsystems, including the latest versions of the Oracle and PeopleSoft applications:

General Ledger Project CostingAccounts Payable Human Resources

Accounts Receivable PayrollPurchasing BenefitsAsset Management Compensation

Our    technology management solutions will help you migrate hardware platforms, improvenetwork and database performance, develop or refresh policies and procedures, and developsound    disaster      recovery    and    backup    solutions.      Please      contact      us      to      learn      how      PinnacleSoftware Solutions can help you develop “ solutions that fit” your enterprise .

ICICI Prudential Life Insurance Company Limited

ICICI    Prudential life Insurance    Company Limited was    incorporated on 20th July 2000.Theauthorized capital of    the    company is    Rs.2300    million    and    the    paid    up capital is    Rs.1500million. The company is joint venture of ICICI (74%) and UK based company Prudential Plc(26%).      The      company      was      granted      certificate      of      registration      for      carrying      business,      byInsurance    Regulatory    and Development    Authority on 24 November    2000. It    commencedth

commercial operation from 19 December    2000 and becoming a leading private sector    lifeth

insurance company.

35Ankur PGDM

The company recognizes that the driving force for    gaining sustainable competitive advantagein      this    business    is      superior    customer      experience      and      investment      behind      the      brand.    Thecompany aims to achieve this by striving to provide world class service level trough constantinnovation in product, distribution channels and technology based delivery.

Vision and Mission

Their vision is to make ICICI    Prudential Life Insurance Company the dominant new    insurerin      the      life      insurance      industry.      This      they      hope      to      achieve      through    their      commitment      toexcellence,      focus      on      service,      speed      and      innovation,      and      leveraging      our      technologicalexpertise.

The success of the organisation will be founded on its strong focus on values and clarity ofpurpose. These include:

• Understanding    the    needs      of      customers      and      offering      them    superior      products      andservice

• Building long lasting relationships with their partners

• Providing an enabling environment to foster growth and learning for their employees

And above all building transparency in all our    dealings.They believe that they can play asignificant role in redefining and reshaping the sector. Given the quality of their    parentageand the commitment of their team, they feel that tere will be no limits to their growth.

Board of Directors

The ICICI Prudential Life Insurance Company Limited Board comprises reputed people fromthe finance industry both from India and abroad.

Shri K.V. Kamath, ChairmanMr. Mark TuckerSmt. Lalita D. GupteMr. Danny BardinMrs. Kalpana MorpariaShri M.P. ModiMr. John CaouetteShri S.P.Subhedar, (Alternate Director to Mr. Danny Bardin)Mr. Derek Stott, (Alternate Director to Mr. Mark Tucker)Smt. Shikha Sharma, Managing DirectorManagement Team

Ms. Shikha Sharma, Managing DirectorMr. Kevin Wright, Executive Vice President - Sales & DistributionMs. Madhavi Soman, Chief - Strategic InitiativesMr. V. Rajagopalan, Appointed ActuaryMr. Sandeep Batra, Chief Financial Officer & Company SecretaryMr. Saugata Gupta, Chief - Marketing & ServiceMr. Shubhro J. Mitra, Chief - Human Resources

Corporate Office:

ICCI Prulife Towers,1089, Appasahab Marathe Marg,Prabhadevi,Mumbai 400 025.Telephone Number : 022-462 1600Website : www.iciciprulife.com

36Ankur PGDM

ICICI Lombard General Insurance Company

ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between ICICIBank Limited and Canada    based Fairfax Financial    Holdings Limited. ICICI    Bankis    India'ssecond    largest    bank,    whileFairfax    Financial      Holdingsis      a    diversified    financial    corporateengaged      in      generalinsurance , reinsurance,      insurance      claims      management      andInvestmentmanagement . Lombard Canada Ltd, a group company of    Fairfax Financial Holdings Limited,is    one of    Canada's    oldest property and casualty insurers. ICICI Lombard General InsuranceCompany received regulatory approvals    to commence general insurance business    in August2000.

Board Members

Mr K V Kamath, Chairman

Mr R Athappan, Director

Mr B V Bhargava, Director

Mr Dileep Choksi, Director

Mr James F Dowd, Director

Ms Lalita D Gupte, Director

Ms Kalpana Morparia, Director

Mr S Mukherji, Director

Mr Chandran Ratnaswami, Director

Mr H N Sinor, Director

Mr Sandeep Bakhshi, Managing Director & CEO

Audit Committee

Mr. S Mukherji, Chairman

Mr. Dileep Choksi, Director

Mr. James F Dowd, Director

Mr. H.N. Sinor, Director

Investment Committee

Mr. Chandran Ratnaswami, Chairman

Ms. Kalpana Morparia, Director

Mr. Sandeep Bakhshi,, Managing Director & CEO

Mr. S Gopalakrishnan, Head – Investments

Mr. Rakesh Jain, Head-Finance & Accounts

Mr. Liyaquat Khan, Appointed Actuary

Board Governance Committee

37Ankur PGDM

Ms. Kalpana Morparia , Chairperson

Mr. Chandran Ratnaswami, Director

Mr. H. N. Sinor, Director

Retail Segment of ICICI Lombard General Insurance :

ICICI Lombard's Retail Segment consists of personal insurance products - Health, Home,

Motor and Travel insurances.

Health Insurance

ICICI    Lombard is known to be a pioneer    in introducing innovative concepts    in the    Indian

health Insurance sector. Be it the floater    concept, the critical illness    cover    or    the tax gain

policy, all these were first introduced by ICICI    Lombard. It was also one of the first general

insurance companies in India to have a robust online system in place for buying and renewing

policies.

The various plans offered by ICICI Lombard include Family Floater Plan - where one policy

covers the entire family, Health Advantage Plus - where they cover OPD and dental expenses,

also help save maximum tax under    section 80D and Critical    Illness    plan-    a special policy

covering    a list    of    critical    illnesses. They    also have    a basicPersonal    Accident    Planwhich

covers against accidents. ICICI Lombard health plans also provide coverage against terrorism.

Home Insurance

Home Insurance is actually one of the most neglected areas in the general insurance category.

Simply, because people in general, especially in India, do not give    much importance    to it.

However, in the recent years, due to the increase in awareness, and the great extent of damage

caused to property due to natural calamities and terrorism, it has    been gaining importance.

The Home    Insurance    Policyoffered    by    ICICI      Lombard    covers      both    the    structure    and    the

contents    of    the house. You can opt for either    of    the covers    or    both. Unlike other    policies, it

also      covers      damage    due      to      terrorist      activities,      loss      of      cash,      public      liability,      temporary

resettlement and others.

Motor Insurance

As    Motor    Insurance    is    mandatory in    India    and is    governed    by the    Motor      Tariff    Act,    the

policies offered by various companies are more or    less the same. There is not much room for

innovation      in      this      category.      ICICI      Lombard      too      offersCar      Insuranceand Two      Wheeler

Insurance . They are known to offer one of the best rates    in the market. As the entire buying

process    is online and is instant, without any submission of    documents    or    other formalities,

people generally opt it for convenience.

Travel Insurance

38Ankur PGDM

Travel insurance is one of the most prominent sector of general insurance, especially overseas

travel insurance and student medical insurance. ICICI Lombard offers various options in both

the categories. The Overseas    Travel Plansand Student Medical Plans offered cover    medical

and    non-medical      expenses,    including      compensation    for      flights    hijacked    and      pre    existing

diseases in case of emergency. They charge on a per    day basis    if the travel is    more than 7

days.    ICICI    Lombard    has    tied    up    withUnited Health    Group to    facilitate    access    to all    its

clinics while in U.S.

The Student Medical Plans are accepted in almost universities worldwide. They also have a

section in their    website, University    Search, where    one can find specific plans    for    specific

universities.

All the above retail policies    can be bought online, without any documentation through their

website www.icicilombard.com .One    can    not    only    buy,    but    also    manage    and    renew    their

insurance policies online.

NRI    Services

ICICI Lombard has developed insurance policies for Non-resident Indians that can be bought,

renewed and tracked online.

Parents' Health Insurance covers hospitalization and medical expenses incurred by parents of

the      policyholder      in    India.    For      parents'      travelling      outside      India,    ICICI      Lombard      offers      a

Parents' Overseas Travel Insurance policy.

An NRIcan insure    his    children/    dependents    travelling    abroad    to    study, under    the    StudentMedical Insurance plan. Likewise, the Home Insurance and Car Insurance schemes enablesan NRIto secure his assets in India.Channels

Channel is    the term used for    the various approaches    a company uses to tap its    customers.

ICICI    Lombard uses    a multi    channel approach to ensure the sales, service    and other    allied

activities are carried out in the most effective manner.

Retail

The Retail channel consists of sales executves, sales officers, brokers and agents. They are the

one who are in direct contact with the customers and bring the innovative insurance solutions

to their doorsteps.

Online

ICICI    Lombard    has    developed    a    web-based    system    to    meet    all    the    pre      and    post-policy

transaction. One    can get    quotes,    buy, renew    and track    their    policies    onlin    e    through    the

website [www.icicilombard.com]. With the do-it-yourself architecture, the online channel is

fast, convenient, easy to understand and operate.

39Ankur PGDM

Technology

ICICI      use      many      type      of      advance      technological      software      like      Pinnacle      7.0      and

Pinnacle7.016.Among      from      this    software      ICICI    bank    uses      the    e-banking,      core      banking,

mobile banking electronic display sy ICICI    Bank was using Teradata for its data warehouse.

However,      due      to      its      proprietary      hardware,      the      cost      of      procurement,      upgrades      and

administration was    soaring. The closed box architecture of    Teradata imposed restrictions    on

scalability. Secondly, querying and loading could not happen simultaneously. Queries could

only be run during business    hours because the loading of data had to take place during off-

business    hours. This    meant that    the refresh rate of EDW was    delayed, so queries    may not

reflect the most current    data. ICICI    Bank was also dependent on Teradata for    support and

other activities: The bank was completely tied down to that solution.

These    issues compelled ICICI    Bank to look for    more efficient and flexible solutions. The

solution    would have    to    address      not    only    current    issues,    but    accommodate    future    growth

expectations    and business requirements. ICICI    Bank evaluated numerous    data warehousing

40Ankur PGDM

solutions in the pursuit of solving its issues, and developed a shortlist of    alternatives for its

migration    proof-of-concept: Sybase, SAS    and Netezza. The    primary criteria for    evaluation

was the price-to-performance ratio where Sybase IQ emerged the clear winner.      During this

rigorous    testing, Sybase IQ delivered faster    results on independent hardware and operating

systems with minimum infrastructure. Commending the improvements achieved, Amit Sethi,

Joint General Manager, ICICI bank says, "What impressed us wasthat even with overall lower

costs, we could achieve significantly better query performanceafter implementing the Sybase

enterprise      warehouse      solution."    ICICI      Infotech      today      launched      an      enterprise      resource

planning (ERP) solution for the small and medium enterprises.

The    ERP    package    -      Orion Advantage -    comes    bundled    with    an HP    dual    processor      Xeon

server, Oracle 9i database, Windows 2003 server    and costs about Rs 9.90 lakh and has a 15-

user license.

An ERP package helps a manufacturer    or any other business implementing it to manage all

the important parts    in the company such as    product planning, parts purchasing, maintaining

inventory and interacting with suppliers and customers.

ICICI Infotech officials told a press conference here today that Orion Advantage offered a set

of      business      practice      solutions    for    industry    segments    such    as    engineering,    auto    ancillary,

pharmaceuticals, chemicals and IT distribution. Besides the cost advantage, the ERP package

also came pre-configured. ICICI Infotech had mapped the processes specific to each industry

segment into the package.

Mr. Manoj Kunkalienkar, Executive Director    and President, ICICI    Infotech, said that small

and medium enterprises (SMEs) offered a good market and ICICI    Infotech hoped to become a

leading solution provider to this segment.

Mr. R.K. Kanthi, Deputy General Manager, ICICI Infotech, said there was no ERP package

for the SMEs that bundled the server, database and operating system right now. That was the

advantage      ICICI      Infotech    offered    to    SMEs    as    Orion    Advantage    came      bundled    and    pre-

configured. Besides    the high cost of generic ERP packages, their    implementation time as    far

as SMEs were concerned was also long. Orion Advantage could be installed in 45 days.

ICICI    Infotech had signed up six customers so far for    the package and hoped to garner    a 15

per    cent market share of the SME segment, whose number    in the country was    estimated at

2.30 lakh.

Mr. K.S.    Natarajan, Managing Director, Trident Pneumatics Pvt Ltd of    Coimbatore, one of

the companies that had installed Orion Advantage, said that the company had tried three other

ERP packages, all of which had failed, before settling on Orion Advantage.

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Mr Kunkalienkar    said that ICICI Infotech planned to move the two development centers in

Chennai into a single location and double the    staff strength from    300 now in the next two

years.

The Chennai centers were involved in research and development of Orion ERP solutions and

Premia, an insurance package.

ERP Systems Integration

Pinnacle      Software      Solutions      has      the      expertise      and      experience      to      assist      you      with      your

enterprise systems    integration. From developing your    strategy, through implementation and

support, we bring the right    combination of    resources, management    skillsets, and technical

know-how.    We    will    help    you    successfully    integrate    yourEnterprise    Resource    Planning

(ERP) systems into your overall business and technology infrastructure.

Whether    you are planning an upgrade of an existing ERP system, or    a complete replacement

of    a      legacy      application    and    platform,      we      can    help    you    improve      your      financial,    human

resources,      electronic    mail,      and    other    business    systems.    We    work    with    the      leading    ERP

systems, including the latest versions of the Oracle and PeopleSoft applications:

General Ledger Project CostingAccounts Payable Human Resources

Accounts Receivable PayrollPurchasing BenefitsAsset Management Compensation

Our    technology management solutions will help you migrate hardware platforms, improve

network and database performance, develop or refresh policies and procedures, and develop

sound    disaster      recovery    and    backup    solutions.      Please      contact      us      to      learn      how      Pinnacle

Software Solutions can help you develop “ solutions that fit” your enterprise.

42Ankur PGDM

ICICI GROUP

ICICI VENTURE

ICICI Venture is the largest and one of the most successful private equity and Venture capital

management companies in India with aggregate funds under Management in excess of USD 2

billion. ICICI Venture is a subsidiary of    ICICI    Bank, India’s    second-largest bank with total

assets    of about US$ 56.3 bn (March 31, 2006) and market capitalization of    about USD 10.8

bn (June 2006).

Over the years, ICICI Venture has built an enviable portfolio of companies in the sectors

of      information      technology,      pharmaceuticals,      biotechnology,      media      and      retail      thereby

delivering value consistently to its investors.

43Ankur PGDM

ICICI Venture has the distinction of    managing a large number    of    exits    in the Country.

With    over      100 liquidity    events,    the    organization    has    reaped    rich    Experience      and    is    well

positioned to handle IPOs, strategic sale and/or mergers.

ICICI Venture has a wide network of    third party investors, which include Domestic investors

such as    public    sector    banks, financial    institutions    and Insurance    companies.    A    significant

portion of    the fund’s corpus is also from International development financial institutions and

international funds.

The      company      has      over      40      qualified      professionals      with      experience      across      sectors      and

functions. The capabilities    of    the    team,    structure    of      the    organization,    Emphasis      on value

creation and performance evaluation matrices enable ICICI Venture to extract superior returns

from its investments.

ICICI SECURITIES – India’s Leading Investment Bank

ICICI    Securities    Limited is    India’s leading full    service    investment    bank with    a Dominant

position in all segments of its operations - Corporate Finance, Fixed Income and Equities. It is

a    subsidiary    of    ICICI    Bank,    the    largest private    sector      bank in India and operates    out    of

Mumbai    with offices    in New Delhi, Chennai, Kolkata, New York, London and Singapore.

Under    the able leadership of Mr.S.Mukherji, Managing Director    and CEO, ICICI    Securities

continues to grow as reflected in its performance over the past couple of years.

The Corporate Finance team has    consistently been among the top players in M&As    and

fund raising from domestic    and international    capital markets. The Equities    team is    a major

Indian brokerage house and its research covers over 90% of Sensex market capitalization. The

bond research of the Fixed Income team is a benchmark for the industry.

The eminent position of    ICICI Securities is reflected in the number of awards that our teams

in the Fixed Income, M&A and Equity Capital Markets win. Our    Fixed Income team for the

last two years (CY04 and CY05)    has been adjudged as    the “Best Bond House” in India by

both    Asia    money    and Finance Asia. The Equities    team    was    adjudged as    the    ‘Best Indian

Brokerage House- 2003’ by Asia money. The Corporate Finance team tops the M&A/Capital

markets      league    tables      regularly. Our      wholly owned    subsidiary, ICICI    Brokerage Services

Limited (IBSL), buys    and sells    equities    for    our institutional clients. ICICI    Securities has    a

U.S.    subsidiary, ICICI    Securities    Inc.,    which is a    member      of    the    National Association of

44Ankur PGDM

Securities Dealers, Inc. (NASD). As a result of    this    membership, ICICI Securities Inc. can

engage in permitted activities in the U.S. securities markets.

These    activities    include dealing in securities markets transactions in the United States and

providing research and investment advice to US investors.

ICICI Securities    Inc. is also registered with the Financial Services Authority, UK (FSA)    and

the Monetary Authority of Singapore (MAS) to carry out Corporate Advisory Services

PRUDENTIAL ICICI

Prudential ICICI Asset Management Company enjoys the strong parentage of Prudential plc,

one of    UK's largest players    in the insurance & fund management sectors    and ICICI Bank, a

well-known      and      trusted      name      in      financial      services      in      India.      Prudential      ICICI      Asset

Management    Company, in a    span    of    just    over      eight    years,    has    forged a    position of    pre-

eminence      in    the      Indian      Mutual      Fund    industry    as      one      of      the    largest      asset      management

companies in the country with assets under    management of Rs. 23559.60 crores (as of March

31, 2006). The Company manages    a comprehensive range of    schemes to meet the    varying

investment needs of its investors spread across 68 cities in the country.

PRUDENTIAL LIFE INSURANCE

India's Number One private life insurer, ICICI Prudential Life Insurance Company is a joint

venture      between      ICICI      Bank-one      of      India's      foremost      financial      services      companies-and

Prudential plc- a leading international    financial services group headquartered in the United

Kingdom. Total capital infusion stands at Rs. 15.85 billion, with ICICI Bank holding a stake

of 74% and Prudential plc holding 26%.

We      began      our      operations      in      December      2000      after      receiving      approval      from      Insurance

Regulatory Development Authority (IRDA). Today, our nation-wide team comprises    nearly

120,000 insurance advisors, 18 banc assurance partners and 200 corporate agent tie- ups.

ICICI Prudential was the first life insurer in India to receive a National Insurer Financial

Strength rating of AAA (Industry) from Fitch ratings. For three years in a row, ICICI

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Prudential has been voted as India's Most Trusted Private Life Insurer, by The Economic

Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'. As we grow our

distribution, product range and customer base, we continue to tirelessly uphold our

commitment to deliver world-class financial solutions to customers all over India.

ICICI    Prudential life Insurance    Company Limited was    incorporated on 20th July 2000.The

authorized capital of    the    company is    Rs.2300    million    and    the    paid    up capital is    Rs.1500

million. The company is joint venture of ICICI (74%) and UK based company Prudential Plc

(26%).      The      company      was      granted      certificate      of      registration      for      carrying      business,      by

Insurance    Regulatory    and Development    Authority on 24 November    2000. It    commencedth

commercial operation from 19 December    2000 and becoming a leading private sector    lifeth

insurance company.

The company recognizes that the driving force for    gaining sustainable competitive advantage

in      this    business    is      superior    customer      experience      and      investment      behind      the      brand.    The

company aims to achieve this by striving to provide world class service level trough constant

innovation in product, distribution channels and technology based delivery.

Vision and Mission

Their vision is to make ICICI    Prudential Life Insurance Company the dominant new    insurer

in      the      life      insurance      industry.      This      they      hope      to      achieve      through    their      commitment      to

excellence,      focus      on      service,      speed      and      innovation,      and      leveraging      our      technological

expertise.

The success of the organisation will be founded on its strong focus on values and clarity of

purpose. These include:

• Understanding    the    needs      of      customers      and      offering      them    superior      products      and

service

• Building long lasting relationships with their partners

• Providing an enabling environment to foster growth and learning for their employees

And above all building transparency in all our    dealings.They believe that they can play a

significant role in redefining and reshaping the sector. Given the quality of their    parentage

and the commitment of their team, they feel that tere will be no limits to their growth.

Corporate Office:

ICCI Prulife Towers,1089, Appasahab Marathe Marg,Prabhadevi,Mumbai 400 025.

46Ankur PGDM

Telephone Number : 022-462 1600Website : www.iciciprulife.com

ICICI LOMBARD

ICICI Lombard General Insurance Company Limited is    a 74:26 joint venture between ICICI

Bank Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited. ICICI    Bank

is      India's    second largest    bank, while    Fairfax    Financial    Holdings    is    a diversified financial

corporate      engaged      in      general      insurance,    reinsurance,    insurance      claims      management      and

investment    management.      Lombard      Canada      Ltd,      a      group      company    of      Fairfax      Financial

Holdings    Limited, is one of    Canada's oldest property and casualty insurers. ICICI Lombard

General Insurance Company received regulatory approvals    to commence general insurance

business in August 2001.

ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between ICICI

Bank Limited and Canada based Fairfax Financial Holdings Limited. IC IC I B ank is India's

second largest bank, while Fairfax Financial Holdings is a diversified financial corporate

engaged in general insurance, reinsurance, insurance claims management and Investment

management. Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited,

is one of Canada's oldest property and casualty insurers. ICICI Lombard General Insurance

Company received regulatory approvals to commence general insurance business in August

2000.

Retail Segment of ICICI Lombard General Insurance :

ICICI Lombard's Retail Segment consists of personal insurance products - Health, Home,

Motor and Travel insurances.

Health Insurance

ICICI    Lombard is known to be a pioneer    in introducing innovative concepts    in the    Indian

health Insurance sector. Be it the floater    concept, the critical illness    cover    or    the tax gain

policy, all these were first introduced by ICICI    Lombard. It was also one of the first general

insurance companies in India to have a robust online system in place for buying and renewing

policies.

47Ankur PGDM

The various plans offered by ICICI Lombard include Family Floater Plan - where one policy

covers the entire family, Health Advantage Plus - where they cover OPD and dental expenses,

also help save maximum tax under    section 80D and Critical    Illness    plan-    a special policy

covering    a list    of    critical    illnesses. They    also have    a basicPersonal    Accident    Planwhich

covers against accidents. ICICI Lombard health plans also provide coverage against terrorism.

Home Insurance

Home Insurance is actually one of the most neglected areas in the general insurance category.

Simply, because people in general, especially in India, do not give    much importance    to it.

However, in the recent years, due to the increase in awareness, and the great extent of damage

caused to property due to natural calamities and terrorism, it has    been gaining importance.

The Home    Insurance    Policyoffered    by    ICICI      Lombard    covers      both    the    structure    and    the

contents    of    the house. You can opt for either    of    the covers    or    both. Unlike other    policies, it

also      covers      damage    due      to      terrorist      activities,      loss      of      cash,      public      liability,      temporary

resettlement and others.

Motor Insurance

As    Motor    Insurance    is    mandatory in    India    and is    governed    by the    Motor      Tariff    Act,    the

policies offered by various companies are more or    less the same. There is not much room for

innovation      in      this      category.      ICICI      Lombard      too      offersCar      Insuranceand Two      Wheeler

Insurance . They are known to offer one of the best rates    in the market. As the entire buying

process    is online and is instant, without any submission of    documents    or    other formalities,

people generally opt it for convenience.

Travel Insurance

Travel insurance is one of the most prominent sector of general insurance, especially overseas

travel insurance and student medical insurance. ICICI Lombard offers various options in both

the categories. The Overseas    Travel Plansand Student Medical Plans offered cover    medical

and    non-medical      expenses,    including      compensation    for      flights    hijacked    and      pre    existing

diseases in case of emergency. They charge on a per    day basis    if the travel is    more than 7

days.    ICICI    Lombard    has    tied    up    withUnited Health    Group to    facilitate    access    to all    its

clinics while in U.S.

The Student Medical Plans are accepted in almost universities worldwide. They also have a

section in their    website, University    Search, where    one can find specific plans    for    specific

universities.

48Ankur PGDM

All the above retail policies    can be bought online, without any documentation through their

website www.icicilombard.com .One    can    not    only    buy,    but    also    manage    and    renew    their

insurance policies online.

NRI    Services

ICICI Lombard has developed insurance policies for Non-resident Indians that can be bought,

renewed and tracked online.

Parents' Health Insurance covers hospitalization and medical expenses incurred by parents of

the      policyholder      in    India.    For      parents'      travelling      outside      India,    ICICI      Lombard      offers      a

Parents' Overseas Travel Insurance policy.

An NRIcan insure    his    children/    dependents    travelling    abroad    to    study, under    the    Student

Medical Insurance plan. Likewise, the Home Insurance and Car Insurance schemes enables

an NRIto secure his assets in India.

Channels

Channel is    the term used for    the various approaches    a company uses to tap its    customers.

ICICI    Lombard uses    a multi    channel approach to ensure the sales, service    and other    allied

activities are carried out in the most effective manner.

Retail

The Retail channel consists of sales executves, sales officers, brokers and agents. They are the

one who are in direct contact with the customers and bring the innovative insurance solutions

to their doorsteps.

Online

ICICI    Lombard    has    developed    a    web-based    system    to    meet    all    the    pre      and    post-policy

transaction. One can get quotes, buy, renew and track their policies online through the website

[www.icicilombard.com].    With    the    do-it-yourself    architecture,    the      online      channel    is    fast,

convenient, easy to understand and operate.

49Ankur PGDM

Technology Used in ICICI Bank

In    the era    of globalization each    and    every    sector    faced    the    stiff competition from    their

rivals.          And      world      also    converted      into      the      flat      from      the      globe.          After      the      policy      of

liberalization and RBI initiatives to take the step for the private sector    banks, more and more

changes    are taking the part into it.        And there    are create competition between the private

sector banks and public sector bank.

Private    sector    banks    are today    used    the latest technology for    the    different    transaction of

day to day    banking    life.    As    we    know that Information    Technology    plays the vital role in

the    each      and        every industries    and gives    the    optimum return from the limited resources.

Banks    are service    industries    and    today      IT gives    the innovative Technology    application

to Banking industries.    ICICI    BANK is the leader    in the    industries and today    IT and    ICICI

BANK      together    combined they reached the sky. New    technology changed the mind of    the

customers    and    changed    the queue concept    from    the    history banking transaction.    Today

there are different channels are available for the banking transactions.

We can see that the how technology gives    the best results in the below    diagram.    There are

drastically changes seen in the use of    Internet banking, in a year 2001 (2%) and in the year

2008 (25%).

These type of technology gives the freedom to retail customers.

Centralized Processing Units Derived Economies of Scale

Electronic Straight Through Processing Reduced Transaction Cost

Data Warehousing , CRM Improve cost efficiency, Cross sell

Innovative Technology Application Provide new or superior products

The    country’s    middle class    accounts    for    over    320    million    people. In    correlation    with    the

growth of the economy, rising income levels, increased standard of living, and affordability of

banking products are promising factors for continued expansion.

50Ankur PGDM

ICICI Bank Product & Customer Segment:

PERSONAL BANKING

Loan Product Deposit Product Investment & Insurance

• Auto Loan • Saving a/c • Mutual Fund• Loan      Against • Current a/c • Bonds

Security • Fixed deposit • Knowledge Centre• Loan      Against • Demat a/c • Insurance

Property • Safe      Deposit • General      and      Health• Personal loan Lockers Insurance• Credit card • Equity and Derivatives• 2-wheeler loan • Mudra Gold Bar• Commercial

vehicles finance• Home loans• Retail      business

banking• Tractor loan• Working      Capital

Finance• Construction

Equipment Finance• Health      Care

Finance• Education Loan• Gold Loan

Cards        Payment    Services              Access To Bank

• Credit Card • NetSafe • NetBanking• Debit Card • Merchant • OneView• Prepaid Card • Prepaid R efill • InstaAlert

• Billpay MobileBanking• Visa Billpay • ATM• InstaPay • Phone Banking

-------------------------------- • DirectPay • Email StatementsForex    Services • VisaMoney • Branch Network-------------------------------- Transfer

• Product & Services • e–Monies• Trade Services Electronic      Funds• Forex service Transfer

Branch Locater • Online    Payment    of• RBI Guidelines Direct Tax

WHOLESALE BANKING

51Ankur PGDM

Corporate Small and Medium Financial Institutions andEnterprises Trusts

• Funded Services • Funded Services BANKS• Non      Funded • Non Funded Services • Clearing Sub-Membership

Services • Specialized Services • RTGS – submembership• Value      Added • Value added services • Fund Transfer

Services • Internet Banking • ATM Tie-ups• Internet Banking • Corporate Salary a/c

• Tax CollectionFinancial Institutions

Mutual Funds

Stock Brokers

Insurance Companies

Commodities    Business

Trusts

NRI SERVICES

Accounts & Deposits Remittances

• Rupee Saving a/c • North America• Rupee Current a/c • UK• Rupee Fixed Deposits • Europe• Foreign Currency Deposits • South East Asia• Accounts for Returning Indians • Middle East

• Africa• Others

Quick remitIndiaLink

Cheque LockBoxTelegraphic/ Wire Transfer

Funds Transfer Cheques/DDs/TCs

Investment & Insurances Loans

• Mutual Funds • Home Loans• Insurance • Loans Against Securities• Private Banking • Loans Against Deposits• Portfolio Investment Scheme • Gold Credit Card

Payment Services Access To Bank

• NetSafe • NetBanking• BillPay • OneView

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• InstaPay • InstaAlert• DirectPay • ATM• Visa Money • PhoneBanking• Online Donation • Email Statements

• Branch Network

PRODUCT

ICICI Bank offers wide variety of Deposit Products to suit your requirements. Coupled with

convenience      of      networked    branches/ ATMs      and      facility    of      E-channels      like      Internet      and

Mobile    Banking, ICICI      Bank    brings    banking at    your      doorstep. Select    any    of    our    deposit

products and provide your    details online and our representative will contact you for Account

Opening.

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SAVING ACCOUNTS

ICICI      Bank    offers      you    a    power      packed    Savings      Account    with    a      host    of

convenient features    and banking channels to transact through. So now you

can bank at your convenience, without the stress of waiting in queues

SENIOR CITIZEN SERVICES

We    understand    that    as    you reach the age    to retire,    you do    have    certain

concerns … whether    your hard earned money is safe and secure … whether

your investments give you the kind of returns that you need. That's why we

have an ideal Banking Service for those who are 60 years and above. The

Senior    Citizen Services from ICICI    Bank has    several advantages    that    are tailored to bring

more convenience and enjoyment in your life.

YOUNG STARS

It's really important to help children learn the value of finances and money

management at an early age. Banking is a serious business, but we make

banking a pleasure and at the same time children learn how to manage their

personal finances.

FIXED DEPOSITS

Safety, Flexibility, Liquidity and Returns!!!! A combination of unbeatable

features of the Fixed Deposit from ICICI Bank.

RECURRING DEPOSITS

When expenses    are high, you may not have    adequate funds    to make    big investments. But

simply going ahead without saving for the future is not an option for you. Through

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ICICI Bank Recurring Deposit you can invest small amounts of    money every month that ends

up with a large saving on maturity. So you enjoy twin advantages-    affordability and higher

earnings

HOME LOAN

The No. 1 Home Loans    Provider    in the country, ICICI    Bank Home Loans

offers      some      unbeatable      benefits      to      its customers      -      Doorstep      Service,

Simplified Documentation and Guidance throughout the Process.      It's really

easy!

PERSONAL LOANS

If you're looking for a personal loan that's easy to get, your    search ends here.

ICICI    Bank Personal Loans    are easy to get and absolutely hassle free. With

minimum documentation you can now secure a loan for an amount up to Rs.

15 lakhs

CAR LOAN

The NO 1 financier for car loans in the country. Network of more than 1500

channel partners in over    780 locations. Tie-ups    with all leading automobile

manufacturers to ensure the best deals. Flexible schemes & quick processing.

Hassle-free application process on the click of a mouse.

COMMERCIAL VEHICLE LOANS

Range of services    on existing loans    & extended products    like    funding of

new vehicles, refinance on used vehicles, balance transfer on high cost loans,

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

banking products.

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TWO WHEELER LOANS

Avail      attractive      schemes      at      competitive      interest      rates      from      the      No      1

Financier    for Two Wheeler Loans in the country. Finance facility up to 90%

of    the      On    Road    Cost    of      the      vehicle,    repayable      in    convenient      repayment

options and comfortable tenors from 6 months    to 36 months. Ride home on

your Dream Two Wheeler with our hassle free finance.

FARM EQUIPMENT LOANS

Preferred      financier      for      almost      all      leading      tractor      manufacturers      in      the

country. Flexible    repayment    options    in    tandem with the farmer's      seasonal

liquidity. Monthly, Quarterly and Half-yearly repayment patterns    to choose

from. Comfortable repayment tenures from 1 year to 9 year

CREDIT CARDS

ICICI    Bank Credit Cards    give    you the facility of    cash, convenience and a

range of benefits, anywhere in the world. These benefits range from life time

free      cards,      Insurance      benefits,      global      emergency      assistance      service,

discounts, utility payments, travel discounts and much more.

DEBIT CARDS

The      ICICI    Bank    Debit    Card is    a    revolutionary    form    of    cash    that    allows

customers to access their    bank account around the clock, around the world.

The ICICI Bank Debit Card can be used for shopping at more than 100,000

merchants in India and 13 million merchants worldwide.

TRAVEL CARD

Presenting    ICICI      Bank    Travel    Card.    The    Hassle    Free    way    to    Travel    the

world. Traveling    with    US      Dollar,    Euro,      Pound    Sterling or      Swiss      Francs;

Looking for security and convenience; take ICICI Bank Travel Card. Issued

in duplicate. Offers    the Pin based security. Has the convenience of usage of

Credit or Debit card.

PRE PAID CARDS

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ICICI    Bank brings    to you a complete bouquet    of pre-paid cards    providing

payment solutions at your fingertips. ICICI    Bank pre-paid cards are a safe &

convenient way for    associate payments, disbursements, gifting & small ticket

transactions. Pre-paid cards are available on a VISA platform thus providing

accessibility    to over    one    lakh merchant    establishments    &    cash withdrawal    from all VISA

ATMs in India.

Investmentss

At    ICICI    Bank, we care    about    all

your      needs.      Along      with      Deposit

products and Loan offerings, ICICI    Bank assists you to manage your    finances by providing

various      investment      options      ranging      from      ICICI      Bank      Tax      Saving      Bonds      to      Equity

Investments through Initial Public Offers and Investment in Pure Gold. ICICI Bank facilitates

following investment products:

ICICI Bank Tax Saving Bonds

Government of India Bonds

Investment in Mutual Funds

Initial Public Offers by Corporate

Investment in "Pure Gold"

Foreign Exchange Services

Senior Citizens Savings Scheme, 2004

You can invest    in above    products    through any of    our    branches. For    select products    ICICI

Bank also provides the ease of investing through electronic channels like ATMs and Internet

(ICICIdirect.com)

ICICI Bank Bonds

All ICICI      Bank Bonds    have been rated "AAA"    by CARE and "LAAA"    by

ICRA indicating the highest degree of safety for your money

All Investment in ICICI Bank Tax Saving Bonds issued up to March 2005 are

eligible for tax rebate under Sec 88 to the full extent possible

Bonds are listed on BSE, NSE

GOI Bonds

8% Savings Bonds (Taxable), 2003 Low risk.

Reasonable investment tenure.

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Nomination facility available.

Cannot be traded in secondary market.

Interest income taxable.

Mutual Funds

Mutual Funds pool money of    various investors to purchase a wide variety of securities while

pursuing a specific goal. Selection of Securities for the purpose is done by specialists from the

field.    R eturns    generated    are    distributed    to    the      Investors.      Mutual      Fund      Companies    offer

various schemes. Investors can choose any particular    Fund/Scheme or mix of    Funds/Schemes

depending upon their    perception towards risk. Investment is    done on the basis of prevailing

Net Asset Values of various schemes. Mutual Funds Investments are subject to Market Risks.

Types of Funds Sold

We will help you determine which types    of    funds you need to meet your investment goals.

This may include the following types of funds:

Debt:Liquid schemes, Income schemes, G-sec schemes, Monthly Income Schemesetc.Equity:Diversified Equity Schemes, Sector Schemes, Index Schemes etc.Hybrid      Funds:Balanced    Schemes,      Special      Schemes    -      Pension      Schemes,      Childeducation Schemes etc.

At ICICI Bank we will help you identify an appropriate mix of Mutual Fund schemes for your

portfolio using    asset allocation    strategies.    Through ICICI    Bank you can invest in various

schemes of    multiple mutual funds with decent performance record. You can take the aid of

our various research reports on mutual funds and their schemes before choosing a scheme for

investment. ICICI    Bank offers investment in Mutual Funds through Multiple Channels. With

ICICI Bank, you can invest in Mutual Funds through following channels.

ICICI Bank Branches

ICICIdirect.com

Dedicated workforce to serve you

Before      being      deputed,      our      officers      complete      a      comprehensive      training

program    and,    once    deputed, they    receive    thorough instructions    in financial

planning skills    and techniques. Throughout their careers    officers also attend

programs to update their skills.

All officers in charge of Mutual Funds    are certified professionals    by AMFI

(Association of Mutual Funds in India)

Many of these officers also hold professional degrees like - MBA, CA, ICWA,

and CFA etc.

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IPO:

You    can    invest      in      IPOs      online    through    www.icicidirect.com      with      same      convenience      of

investing in equities -    hassle-free and with zero paper    work. Also, get in-depth analyses    of

new    IPOs issues (Initial Public Offerings) which are about to hit the market. IPO calendar,

recent IPO listings, prospectus/offer    documents    and live prices will help you keep on top of

the IPO markets.

ICICI Bank Pure Gold

Gold has been traditionally the most favored form of investment for    Indians. In fact, India,

even today is amongst the highest consumers of Gold in the world. However, the Gold market

remains    largely unorganized with reliability and convenience remaining the key issues for

gold buyers in the country.ICICI Bank with its    `Pure Gold' offer    attempts to bridge the gap

between the need of the customers for buying gold and availability of an organized avenue to

satisfy that need, by taking care of the two key components        Reliability and Convenience.

Reliability 24 Carat ICICI Bank Pure Gold is imported from Switzerland. This Gold carries a

99.99% Assay Certification, signifying highest level of purity, as per international standards.

Convenience

ICICI      Bank    Pure    Gold    is      competitively    priced    based    on    daily    prices    in the    international

bullion market. Currently, gold is available in 2.5g, 5g, 8g, 20g and 50g categories.

FOREX Services

ICICI Bank's Foreign Exchange Services will help you organize your foreign exchange in the

most hassle free manner. Whether its Foreign Currency, Travelers    Cheques or    Travel Card,

ICICI      Bank    Foreign    Exchange    Services      is      a    one-stop    solution    to    your      foreign    exchange

requirement.

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S.W.O.T. analysis of ICICI BANK

Introduction to SWOT Analysis.

The overall evaluation of the company’s Strength, Weakness, Opportunities and Threats is

called as SWOT Analysis.

The external environment analysis of any business will give you the opportunities and threats

facing the business. The external environment consists of two parts:

1) Macro Environment : Demographic, Economic, Technology, Political-legal,

Socio-cultural

2) Micro Environment :    Customers, Competition, Distributors, Suppliers.

The Internal Environment Analysis will give you the strength and weakness of the business.

STRENGTH WEAKNESSES

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• Right      strategy      for      the      right• Some      gaps      in      range      for      certain

products.sectors.

• Superior      customer      service      vs.• Customer      service      staff      need

competitors.training.

• Great Brand Image• Processes and systems, etc

• Products      have      required• Management cover insufficient.

accreditations.

• Sectoral          growth        is• High      degree      of      customer constrained      by      low

satisfaction. unemployment levels andcompetition    for    staff

• Good place to work

• Lower      response      time      with

efficient and effective service.

• Dedicated workforce aiming atmaking    a    long-term career in

the field.

Opportunities Threats

• Profit margins will be good. • Legislation could impact.

• Could extend to overseas broadly. • Great risk involved

• New specialist applications. • Very high competition prevailing in

the industry.• Could seek better customer deals.

• Vulnerable to reactive• Fast-track      career      development

opportunities      on      an      industry-wide attack by major competitors

basis. • Lack of    infrastructure in rural areas

could constrain investment.• An applied research centre to createopportunities for developing

• High volume/low cost market istechniques to provide added-valueintensely competitive.

services.

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Opportunity Matrix

A Marketing opportunity is an area of interest in which a company can perform profitably. An

opportunity can take many forms. Some of them are:

1) Buying process made easy- Internet shopping

2) Meet the information needs of the customers in a better way.

3) A company can customize the product which was originally offered in standard form.

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The      opportunities      that      fall      under      the      first      quadrant      are      higher      on      the      side      of      success

probability and also on the attractiveness, so the company should tap those opportunities as

early as possible.

The opportunities falling under the second quadrant should be

tapped only after    the success of    the opportunities in the first      quadrant. Although the

success probability is on the lower side still    the attractiveness is on the higher side.

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The opportunities in the third quadrant are less important as compared to the opportunities

in the first and second quadrant. Although the attractiveness is on the lower side but the

success probabilities of these opportunities are on the higher side.

The opportunities    in the fourth quadrant    are    negligible    as    the    success    probability    and

attractiveness both are on the lower side

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Threat Matrix.

An Environmental Threat is a challenge posed by an unfavourable trend or development. In

the absence of any defensive marketing action these threats may lead to deterioration in sales

and indirectly in the profits of the company.

The Threats falling under the first quadrant are harmful to the progress of the firm.

Their    occurrence    probability    and also    the seriousness    is    on the higher    side. Therefore    the

company should take immediate actions against these threats.

The Threats    falling under    the second quadrant are also very harmful as their    seriousness    of

these threats is on the higher side, although the probability occurrence is on the lower side.

The Threats coming under the third quadrant are less serious as compared to the threats in the

first and second quadrant. The company should keep a backup plans    for these threats as    this

can also affect the profitability of the company.

The      Threats    under      the      fourth      quadrant      are      negligible      as    the    probability    occurrence    and

seriousness both are on the lower side of the matrix.

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STRENGHTS

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1) Online Services : ICICI Bank provides online services of all it’s banking facilities. It also

provides D-Mart account facilities on-line, so a person can access his account from anywhere

he is.

[D-Mart is a dematerialized account opened by a salaried person                                  for purchase &

sale of shares of different companies.]

2) Advanced Infrastructure : Branches of ICICI Bank are well equipped with advanced

technology to provide the customers with taster banking services. All the computerized

machines are located in suitable manner & are very useful to the customers & staff of the

bank.

3) Friendly Staff: The staff of ICICI Bank in all branches is very friendly & help the

customers in all cases. They provide faster services along with bonding & personal

relationship with the customers.

4) 12 hrs. Banking services: Compared to other bank ICICI bank provides long hrs. of

services i.e. 8-8 services to the customers. This service is one of it’s kind & is very helpful for

the customers who are in urgent need of money.

5) Other Facilities to the Customers & Employees: ICICI Bank also provides other

facilities like drinking water facilities, proper sitting arrangements to the customers. And there

are also proper Ventilation & sanitary facilities for the employees of the bank.

6) Late night ATM services: ICICI bank provides late night ATM services to the customers.

The ATM centers of ICICI bank works even after 11:00pm. at night in certain branches.

Weakness

1) High Bank Service Charges: ICICI bank charges highly to customers      for the services

provided by them when compared to other bank & that is    why it is only in the reach of higher

class of society.

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2) Less Credit Period: ICICI bank provides credit facilities but only upto        limited period.

Even when the credit period is not over it sends reminder letters to the customers which

may annoy them.

OPPORTUNITIES

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1) Bank –Insurance services: The bank should also provide insurance services. That means

the bank can have a tie-up with a insurance company. The bank will advertise & promote the

different policies introduced by the insurance company & convince their customers to buy

insurance policies.

2 ) Increase in percentage of Returns on increase: The bank should provide higher returns

on deposits in comparison of the present situation. This will also upto large extent help the

bank earn profits & popularity.

3) Recruit professionally guided students: Bank & Insurance is a special non-aid course

where the students specialize in the functioning & services of the bank & also are knowledge

about various tax policies. The bank can recruit these students through tie-ups with colleges.

Such students will surely prove as an asset to the bank.

4) Associate with social cause: The bank can also associate itself with social causes like

providing relief aid patients, funding towards natural calamities. But this falls in the 4 th

quadrant so the bank should neglect it.

THREATS

1 ) Competition : ICICI Bank is facing tight competition locally as well as internationally.

Bank like CITI Bank, HSBC, ABM, Standered Chartered, HDFC also provide equivalent

facilities like ICICI do and also ICICI do not have consistency in its international operation.

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2) Net Services: ICICI Bank provides all kind of services on-line. There can be easy access

to the e-mail ids of the customers through wrong people. The confidential information of the

customers can be leaked easily through the e-mail ids.

3 ) Decentralized Management: Each branch manager is given the authority of taking

decisions in their respective branches. The decisions made by different managers are diverse

and any one wrong decision can laid to heavy losses to the bank.

4 ) No Proper Facilities to Uneducated customers: ICICI Bank provides all services

through electronic computerized machines. This creates problems to the less educated people.

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

RESEARCH METHODOLOGY

Data Collection Techniques:

This project consists of two parts.

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The first part is a study of    the banking industry, ICICI Bank using secondary data sources.

This secondary information has    been sourced    from the    internet    and from    business related

magazines and newspapers.

The    second    part of    the    study has    been done    using an exploratory research process    and a

structured questionnaire was developed for this purpose. For the collection of primary data

this was the only method used. The reason I    used this method is because a need was felt for

the free influx of information about the products. Also this method allowed the use of    skills

gained in class.

Sample Design:

The population considered for the purpose of the survey was people residing in Delhi and the

National Capital Region (NCR).

Sampling Technique Used:

Since    the information required was    not of    a very technical    nature    and also    looking at    the

scope of the project and the extent of    the target segment, the sampling technique employed

was Convenience Sampling. I administered    the questionnaires.

Sample Size:

I have restricted the sample size to 50 respondents. This was done keeping in mind the time

constraints and the fact that I    felt that this number would be enough to serve the information

needs required to show the trends.

Customer Satisfaction:

Customer    satisfaction    is    equivalent    to    making    sure    that    product    and    service    performance

meets      customer    expectations.    It    is      the    perception    of    the    customer    that    the    outcome    of    a

business    transaction is    equal    to or      greater      than    his/her    expectation.    Customer    satisfaction

occurs      when    the    acquisition    of    products      and    /or      services      provides    a      minimum    negative

departure from expectations    when compared with other acquisitions and when the marginal

utility of a transaction is equal to or greater than preceding acquisitions.

Customer satisfaction occurs when the perception of the reward from the purchase of goods or

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services    by the customer    meets or    exceeds    his/her perceived sacrifice. The perception is    a

consequence      of      matching      past      purchase      and      consumption      experience      with      the      current

purchase.

Customer Service and Satisfaction:

When we talk about customer    service and/or    satisfaction, we talk about creativity. Creativity

allows us to handle or diffuse problems at hand or later on rather in the process of conducting

the everyday business. We talk about how, or    what, does the organization have to do to gain

not only the sale but also the loyalty of    the customer. We want to know    the payoff    of the

transaction both in the short and long term. We want to know what our customers Want? We

want    to know    if    our    customers    are    satisfied.    Satisfaction, Of    course, means    that    what we

delivered to a customer    met the customer’s    Approval. We    want to know    if    customers    are

delighted and willing to come

Back, and so on. Fleiss    2 and Feldman 3 present    examples    of    that delightfulness    in their

writings.    Fleiss    has    written about    Ben    and Jerry’s      ice    cream    and    Feldman has    discussed

excellence in a cab ride. As important as delightfulness    is, some of    us    minimize it, or even

totally disregard it. At this    point, we fail. Some of    the issues that    will guarantee failure in

sales, satisfaction, and loyalty are:

Employees must adhere to a rigid chain of command

Employees are closely supervised

Conflict—in whatever form—is not allowed

Rewards are based on carrot-and-stick principles

Wrong objectives are measure.

We      must      understand      customer      expectation      levels      concerning      quality.      We      must      also

understand    the      strategy      for      customer    service      quality,    and    next    we      must    understand      the

measurement and feedback cycles of Customer satisfaction.

The customer is the person or unit receiving the output of a process on the system. In fact, it is

worth emphasizing that a customer can be the immediate, intermediate, or    ultimate customer.

72Ankur PGDM

Also,      a      customer      may      be      a      person      or      persons,      or      a      process      or      processes.      Customer

satisfaction, however, is when the customer is satisfied with a product/service that meets the

customer’s needs, wants, and expectations.

There are at least three levels of customer expectations about quality:

Level 1 . Expectations are very simple and take the form of    assumptions, must have, or take it

for granted. For example, I expect the airline to be able to take off, fly to my destination, and

land safely. I expect to get the correct blood for my blood transfusion and I expect the bank to

deposit my money to my account and to keep a correct tally for me.

Level 2 . Expectations    are a step higher than that of level 1 and they require some form    of

satisfaction through meeting the requirements and/or    specifications. For    example, I    expect to

be treated courteously by all airline personnel. I    went to the hospital expecting to have my

hernia repaired, to be in some pain after it was done, to be out on the same day, and to receive

a correct bill. And I went to the bank expecting the bank teller to be friendly, informative, and

helpful with my transactions.

Level 3 . Expectations are much higher than for levels 1 and 2. Level 3 requires some kind of

delightfulness or a service that is so good that it attracts me to it . For example, an airline gives

passengers    traveling coach class the same superior    food service that other    airlines    provide

only for first-class passengers. In fact, I once took a flight where the flight attendants actually

baked

cookies for us    right there on the plane. When I    went to the hospital, I    expected staff to treat

me    with respect and they carefully explained things    to me. But I was    surprised when they

called me at home the next day to find out how I was doing. And at my house closing, the

bank officer, representing the bank holding my mortgage, not only treated me with respect

and answered all my questions about my new mortgage, but just before we shook hands to

close the deal, he gave me a housewarming gift.

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Customer satisfaction surveys help to:

Improve customer, client, or employee loyalty.

React quickly to changes in the market.

Identify and capitalize on opportunities.

Beat the competition.

Retain or gain market share.

Increase revenue.

Reduce costs.

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COMPANY’S EFFORT TO ENSURE SATISFACTION OF CUSTOMERS:

Objectives of ICICI

Promote good and fair banking practices by setting minimum standards in dealing

with you

Increase transparency so that you can have a better understanding of what you can

reasonably expect of the services;

Encourage      market      forces,      through      competition,      to      achieve      higher      operating

standards;

Promote a fair and cordial relationship between you and your bank;

Foster confidence in the banking system

To Help You To Understand How Our Financial Products And Services Work By:

Giving    you    information    about    them in any one    or      more    of    the    following    languages:

Hindi, English or the appropriate local language.

Ensuring that our advertising and promotional literature is clear and not misleading

Ensuring that you are given clear information about our    products and services, the terms

and conditions and the interest rates/service charges, which apply to them.

Giving    you    information    on    what    are    the    benefits      to    you,    how    you    can avail      of      the

benefits, what are their financial implications    and whom you can contact for    addressing

you queries .

To Help You Use Your Account Or Service By:

Page | 75Ankur PGDM

Providing you regular appropriate updates.

Keeping      you      informed      about      changes      in      the      interest      rates,      charges      or      terms      and

conditions.

Information

You can get information    on interest    rates, common fees    and charges through any one of    the

following:

Looking at the notices in our branches ;

Phoning our branches or help-lines;

Looking on our website;

Asking our designated staff/help desk ;or

Referring to the service guide/ Tariff Schedule .

Before You Become a Customer we will:

give you clear    information explaining the key features of the services    and products you

tell us you are interested in;

give you information on any type of products and services which we offer    and that may

suit your needs;

tell you if we offer products and services in more than one way [for example, through

ATMs, on the Internet, over    the phone, in branches and so on] and tell you how to find

out more about them;

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tell you what information we need from you to prove your identity and address, for us to

comply with legal, regulatory and internal policy requirements.

Advertising, Marketing and Sales

We    will      make      sure      that      all      advertising      and    promotional      material      is      clear,      and      not

misleading.

In any advertising in any media and promotional literature that draws attention to banking

service    or    product    and includes      a reference    to an interest    rate, we    will    also    indicate

whether other    fees and charges will apply and that full details of the relevant terms and

conditions are available on request.

If we avail of the services of third parties for    providing support services, we will require

that such third parties handle your    personal information (if    any available to such third

parties) with the same degree of confidentiality and security as we would.

We may, from time to time, communicate to you various features of    our products availed

by you. Information about    our    other    products    or    promotional offers    in respect    of    our

products/services, will be conveyed to you only if you have given your consent to receive

such information/ service either    by mail or    by registering for    the same on our    website or

on our phone banking/customer service number.

We    have prescribed a    code of conduct for    our Direct Selling Agencies    (DSAs) whose

services    we may avail    to market    our    products/    services    which    amongst other    matters

requires    them to identify themselves    when they approach you for    selling our    products

personally or through phone.

In the event of    receipt of any complaint from you that our representative/courier or DSA

has    engaged in any improper    conduct or    acted in violation of    this    Code, we shall take

appropriate steps to investigate and to handle the complaint and to make good the loss.

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Privacy and Confidentiality

We will treat all your personal information as private and confidential [even when you

are no longer a customer], and shall be guided by the following principles and policies.

Data Analysis

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1.        WHICH    OF      THE      FOLLOWING      ATTR      IBUTES      COMPELLED    YOU      To    MOST

OPEN SAVING ACCOUNT IN ANY BANK?

2:-Which TYPE OF SERVICE PREFERS THE    MOST by you?

3:-Which of following banks do you have account?

4:-WHAT TYPE OF ACCOUNT DO YOU HAVE IN BANK?

5:-How many services offered by your banks have been Used By you?

6:-How would you know about these services?

7:-What the people think about the Banks ?

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

9:-Is ICICI Bank Provide better facilities than SBI & HDFC Bank?

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

11:-How would you rate product offered ICICI Bank than other?

Very Good Good Moderate Less PoorRating 5 4 3 2 1

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

13:-How would you divide 100 points on the basis of service provide by ICICI Bank?

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14:-How would you rate services offered by ICICI Bank?

COMPARISON OF ICICI WITH SBI

ICICI bank is the largest private sector bank in India and the second largest commercial bank in

India. It has branches all over    India and even in smaller    towns in South India after    the takeover

of Bank of Madurai. The bank also has foreign subsidiaries like ICICI bank, Canada in Canada,

Britain and Russia ,representative offices    in USA, China, UAE, Bangladesh, South Africa and

branches in Bahrain, Singapore .

It offers a platform for online share trading through ICICI Direct and insurance services -

ICICI Prudential. NRI services include money transfer through Money2India, which offer

better foreign exchange rates for lower amounts compared to other services.

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Like most private sector banks, all ICICI bank branches in India are networked. You can

access    your    account    from any ICICI    bank    branch    in India.    Anyone    can also deposit

cash/local cheque in your account at any branch of ICICI bank.

Also they have very convenient bank timings and are open for 12 hours    from 8.00 a.m to

8 p.m from Monday to Saturday. When you deposit a cheque at their    branch, they will

readily give you a stamped acknowledgement for    deposit. You can only deposit cash in

your own account at the ATM, for depositing cash into a third party account, you have to

visit the branch. You have to select the deposit cash option, you will get an envelope for

depositing cash, which you can then fill in the details and deposit it back. At locations

where ICICI bank does not have a branch, the queue at the ATMs is very long. Just after

office hours , between 6 pm -    7.30 pm, customers sometimes    have to wait for    15-20

minutes on some days, to access the ATM.

Since    ICICI    bank was    established after      1991 it    offers    online banking where    you can

check the balance in your    account any time. The interface for    savings accounts    is much

better and user friendly compared to that for their roaming current account

However,    unlike    other    banks    like    HDFC    bank,      their    online bank statement does    not

indicate the branch at which the amount is deposited. The information is available in the

email statement sent to you the next day. You have to contact phone banking, enter    CRN

and TPIN, during working hours to get this information. Very often, the system is slow,

so you have to hold on for 10 minutes.

For savings account, up to 3 cash deposits per quarter    (3 months) at the non base branch

can be made at no cost. For additional cash deposits, the bank charges the recipient Rs

100 (+    service    tax)    per    deposit,    irrespective    of    the amount deposited. When the bank

implemented this change, the ICICI bank customers were not informed about the revision

in    the    charges. For    outstation cheques, ICICI    bank    charges    a    minimum    of    Rs      30 (+

service tax) for    savings accounts . This is very inconvenient for      account holders in small

towns, who receive the dividend warrant payable in major cities only. These warrants can

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be for small amounts like Rs 20. For salary accounts, the minimum AQB required is zero

and you retain the account even after    you leave the job. If    your AQB    is more than Rs

100000, you get a free at par    chequebook. For an AQB of more than Rs 500000 (fixed

deposit + savings account balance), you are eligible for private banking services. For    non

maintenance    of    average quarterly balance, not only do they deduct Rs    750 from your

balance, they also deduct an additional service tax.

Many of the ICICI bank customers are salary account holders, who are forced by their

employers    to open an account with ICICI    bank to receive    their    salary. The account is

opened at a branch which is convenient for the employer, but extremely inconvenient for

the employee. If    want any clarification or    information, their    customer    support (through

phone banking or email)    will instruct you visit the nearest branch -    where the concerned

person may or may not be available. For savings account customers if    you send an email

asking for clarifications, it is usually answered after a week.

They    have    discontinued    the    auto    sweep-in    facility    (earlier      called    Quantum    Optima),

where the amount in savings accounts was automatically converted into a fixed deposit, if

it exceeded Rs 15000. With the decline in    interest rates for loans, providing this facility

is no longer profitable for the bank. You now have to give an application at the branch if

you wish to continue with this facility now. The form for making the application was sent

along with the monthly bank statement.    You can alternately open a    recurring deposit,

where a fixed amount is added to your fixed deposit every month.

Making a    new    Fixed Deposit with ICICI    bank for    current    accounts is extremely time

consuming, especially when compared to HDFC bank. They will insist that you withdraw

cash from your account for making the FD. Since withdrawals of amounts more than Rs

25000 are subject to cash withdrawal tax, for larger amounts ,    you will have to split the

fixed deposit and visit the branch on 2 different days. ICICI    bank is    probably the only

bank in India where they will not accept a ICICI bank cheque for making a fixed deposit.

We had given a cheque with the fixed deposit form , but the bank officer insisted that we

Page | 83Ankur PGDM

pay cash. She said she would fill the form for us, but she did not select the options which

were initially indicated, causing further problems for us.

(SBI) is the largest public sector bank in India

SBI has      branches    and ATMs      all      over      India,    details      of    which    are    available    at    their

website. State    Bank of      Hyderabad, State    Bank of      Patiala, State Bank of      Saurashtra,

State Bank of    Bikaner and Jaipur ,State Bank of    Indore, State Bank of    Mysore and State

Bank    of      Travancore    are    the seven subsidary banks    of        SBI.    As    of    March 2006, SBI

holding in these banks varies from 74% to 100%    , but is likely to decrease in future. SBI

has    one of the largest network of    ATMs in the Asia Pacific region. Many branches of

State Bank of India are computerized. In places where the R eserve Bank of India, (RBI)

the    central    bank of    India does    have    an office, SBI    carries    out    many    of    its    functions.

SBI timings vary according to location, for example the Powai, Mumbai branch of    State

Bank of India is open between 10.15 am to 2pm (Monday-Friday

You can open a public provident fund (PPF)    account at any State Bank of India branch.

PPF accounts are one of the few savings instruments    which offer    a high tax free interest

rate of 8% per year. All deposits made on or before 5th of    a month earn interest for the

entire month. If you deposit a cheque in your PPF account on the 5th of      the month, you

will get interest for the month, though your    account may be debited at a later    date. The

interest is credited to the account at the end of the accounting year in India.

If you know an agent who is registered with that particular branch of State Bank , he will

pay you back, a part of    the commission he receives from the bank. So you can get back

0.5%    -    0.6% of    the amount deposited immediately by cash. Usually larger the amount,

the higher    the commission paid back by the agent (it is negotiable) . The pay-in slip for

PPF has 3 sections - depositors copy, agents copy and bank copy. The agents copy has to

be given to the agent and he will give part of the commission. Earlier financial services

Page | 84Ankur PGDM

firm like Blue-chip in Mumbai, would also give a commission of    0.25%    , but they have

stopped in the last 2 years.

The minimum amount that can be invested in one year is Rs 500 and maximum amount is

Rs 70000. This investment has a lock in period of 15 years. No withdrawals are allow till

6 years    after    account    opening and      one    withdrawal    is    allowed per      year    there    after. It

offers rebate under section 80C and the interest is tax free under section 10C.

For    cash withdrawals, you can either    use    a withdrawal slip or    cheque. If    an account is

inactive for    a    long time, State Bank of    India does    not charge any fee    for    reactivation.

However,      they      have      a      verification      process,      which      may      take    a    long    time.    Payment

of income    tax, advance    tax, sales    tax can be done    at    SBI    branches. Foreign currency

drafts      can    also    be    obtained    at      the    branches.      Since    SBI      offers    a variety    of    banking

services, their branches are usually very crowded.

State Bank of India has increase home loan interest rates by 25-75 basis points. Also no

fixed rate loans will be available    for periods    more than 10 years. These changes    have

come into effect from March 1, 2006.

SBI Railway Visa Card allows booking of railway tickets online at the Indian Railways

websiteat zero transaction charges. Users of this credit card can get back up to 10%    of

ticket fare as railway points. These points can be redeemed later, like frequent flyer miles

offered by airlines. State Bank of    India is    the largest issuer of    debit cards    (Maestro) in

India

State Bank customers who have to wait a long time    to process a bank transaction can

register    their    complaint through a touch screen device for customer feedback service at

the branch. The information is recorded and processed in the central server. As of March

2006, it is    implemented in 10 branches    of SBI in Mumbai. When SB I employees    go on

strike, the Reserve Bank of    India takes over    all    clearing operations. However, banking

operations are affected since SBI has nearly 30% of the total customers of banks in India.

Page | 85Ankur PGDM

Cheques/DD    drawn on SBI    was not cleared due to the strike. All government taxes like

income tax, sales tax, service tax can be paid at any branch of SBI.

State Bank of India has 52 foreign offices in 34 countries including Australia, UK, USA,

Canada, Bahrain, Nigeria, Bangladesh, Nepal, and Bhutan Sri Lanka.    These are useful

for foreign trade transactions like opening of Letter of Credit

COMPETITIVE SWOT ANALYSIS WITH ICICI BANK

STRENGTHS WEAKNESSES

OP S – O Strategies W – O StrategiesPO Strength: Large Capital    base. Weakness: WorkforceRT Opportunity: Market Expansion. Responsiveness.UN Opportunity: Outsourcing of Non –I Strategy: Deep Penetration into Core Business.TI Rural Market. Strategy: Outsource CustomerE Care & other E-Helps.S

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S – T Strategies W – T StrategiesTH Strength: Low operating costs Weakness: Not Equal toR International Standards.EA Threat: Increased Competition Threat: Entry of many ForeignT from others Pvt. Banks. Banks.S

Strategy: Steps to EnsureLoyalty by old Strategy: Consider    additionalCustomers. benefits

FINDINGS, SUGGESTIONS & CONCLUSION

Findings:

1. It was    found from the study that bank believes    in quality service rather    than          quantity of

service.

2. The officials employed are very much enthusiastic about their job.

3. The officials try to make best relation with the customers.

4. There is separate counter for NRI services.

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

6. The registers and files are maintained on a daily basis.

7. The registers are maintained in a well organized manner.

8. The marketing strategy of the bank is very attractive.

9. The bank always tries to attract customers with innovative offers.Page | 87

Ankur PGDM

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

11.    ICICI and SBI credit deposit ratio is on the side though ICICI banks show a little decreasing

trend to the exten of 2.24 % Over mar2007 _ mar 2008.

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

13. Both the banks has shown better utilization of cash portfolio

14.    ICICI bank Interest expences to interest earned remains the same Over    2 Years whereas

SBI shows reduction.

15. Other    Income ratio remains fluctuation in both the banks.

16. Operating expences to total income shows a decresing trend in ICICI bank whereas    it was

on the rising side in SBI.

17.    Interest income to total funds    shows    rising mode in ICICI    whereas In SBI    more or less    it

remains    at the level; The ratio of interest expenses    to total funds shows an increase in Value in

ICICI Bank whereas in SBI interest expences shows a Rising mode.

18. The ratio of Non Interest income remains the same for    ICICI for    The past 2 Years whereas

in SBI at shows a decline.

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

20.    The    continuation    pattern    negates    immediate      bearish    momentum      on the    stock    and    it's

advisable to buy at declines. Short term investor can initiate a buy above 500 with a target of 560

570.

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SUGGESTIONS

A. Best play in a buoyant environment    Favorable macro, buoyant    Market    related revenues

and a benign environment for asset quality.

1· ICICI    as    a player    focused on maintaining and /or    improving Market share in              key

business      segments,    particularly    retail    lending-    Will,    in our    view,    benefit    immensely    form    a

positive operating Environment.

2.    ICICI is viewed as it is benefited from the procyclicality effect of The economic cycle as its

borrowers      in      the      legacy      project      financing      Activity      witnessed      their      debt      servicing      ability

increasing considerably. It is believed that the profitability of this    segment has improved    as a

Result      of    lower      loan    loss      provisions      and      lower      taxable      rates      of    Income    from      this      source.

Expectations is on the procyclical benefit ,To continue and hence profitability of    legacy lending

to be sustained At levels seen earlier.

Page | 89Ankur PGDM

3.    Market related revenues is believed to contribute 14% - 15%    to ICICIB's operating revenues

and have boosted its preprovision RoAA. Buoyant environment to sustain the contribution from

market -related revenues is expected and hence the operating    profitability.

4. Pricing power in consumer financing segment profitability Against potential shocks.

5.    ICICIB    enjoys    a dominant market position across customer Categories in retail lending.The

strong    market    position and robust    Demand    for    consumer      financing    vests      significant    pricing

power    With ICICIB    is    believed either    by allowing a    hike in lending rats, Negotiating higher

subvention form manufacturers of cutting Distribution costs.

6. Strong pricing power    and a balance sheet    that is significantly Biased towards retail lending

buffers ICICB's profitability from Potential shocks in the bank's funding cost.

7.    ICICB has    an adverse mismatch profile between assets and Liabilities. High volatility in

interest rates could adversely effect Profitability in the short term;    however, as the back book

gets      Reprised      at      new      lending      rates      upon      maturity,      the      bank's      NIM      will      Likely      show

improvement. This phenomenon to play out through FY1002E and FY2009E is expected.

8. In line with consensus, but we recommend buy ICICIB    for    growth Reasons    and not for the

relative valuation appeal. It is not so much about ICICIB    versus    HSFC    or    HDFCB, but about

Their respective operating metrics and growth conditions. Market Has rewarded both strategies:

ICICIB's      broad-based    strategy    allows      capturing    value    across      the    Value    chain    in    a    customer

segment; and ICICIB, like other    large players in the private sector, enjoys Favorable conditions

arising from a restrictive regulatory/policy Environment towards new entrants and foreign banks

and slow Pace of reforms for state-owned banks is believed.

B. Increasing contribution from strategic investments    Yet another driver

1. The value accruing from subsidiaries to be 17% of ICICIB's Current marke capitization. This

to rise to 20% of ICICIB's target Price over the next 12 months is expected with banking and life

Insurance being the key drivers.

2.      The life insurance business of ICICIB has been incurring losses On an accounting basis due

to continued investment in expznding The scale and scope of the business. The life insurance

business      is      Believed      in      creating      wealth      for      its      shareholders      through      market      Share      gains,

increasing penetration of life insurance and improving operating efficiency.

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3.S    The asset management and venture capital fund of ICICB    makes A negligible contribution

currently;    however, these    businesses    is    Believed    to    hold significant upside    potential    as    they

achieve scale Economies.

Conclusion

Thus, ICICI    has    been able to use technology to provide    value-added service    to its    customers

during the last few years. For    ICICI, technology is an integral part of    their    business. However,

their    overall progress could have been smoother    but for certain internal and extraneous    factors

and also a pressure on spreads due to a competitive market (Annual report, 2000 –01). E-banking

has    become a necessary survival weapon and is    fundamentally changing the    banking industry

worldwide. To day, the click of    the mouse offers    customers    banking services at a much lower

cost      and    also    empowers      them      with      unprecedented      freedom      in    choosing    vendors      for      their

financial service needs. No country today has a choice- whether    to implement E-banking or not

given the global and competitive nature of the economy. ICICI    have toupgrade and constantly

think of new innovative customized packages and services to remain competitive. The invasion

of    banking    by    technology    has      created    an    information    age    and    commoditization    of    banking

services. ICICI have come to realize that survival in the new e-economy depends    on delivering

some or all of their    banking services on the Internet while continuing to support their traditional

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infrastructure. The rise of E-banking is redefining business relationships and the most successful

banks will be those that can truly strengthen their    relationship with their customers. Without any

doubt,    the    international      scope    of      E-banking    provides    new    growth    perspectives    and    Internet

business is a catalyst for new technologies and new business processes.

Bibliography

www.rbi.org.in

www.moneycontrol.com

www.nseindia.com

www.icicibank.com

www.google.com

Economic times

Business world

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Confidential Questionnaire

Dear SIR/MADAM, I am conducting survey on ICICI. I shall be very thankful to give yourfew minutes to me for answering my few questions below.

Name: _____________________________________Add: ________________________________________Contact no: ____________________________________Gender            Male                                                        Female

E-mail Id : _______________________________________________________Age Group:          18—25                                          25—35                                    35— 45                                              45—5555+

Occupation:JournalistStudentProfessionalRetired PersonTechnical expertOther, please specify:

Income: = 1 laces                    1—3 laces                        3—5 laces                      5—7 laces              7—10laces                    +10 laces

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1:-WHICH OF THE FOLLOWING ATT RIBUTES COMPELLED YOU MOST TO OPEN SAVING ACCOUNT IN ANYBANK?

(a) ATM cum DEBIT Cards

(b) Cheque Book

(c) Internet Banking/ Phone Banking

(D) Working Hours

(e) Value Added Services

2:-Which TYPE OF SERVICE PREFERS THE MOST by you?

(a)    ATM SERVICE

(b) INTERNET BANKING

(c) MOBILE BANKING

(d) CORE BANKING

(e) R etail    Banking

3:-Which of following banks do you have account?

(a) ICICI Bank

(b) SBI Bank

(c) HDFC    BANK

(D) Axis Bank

(e) Other Pls specify __________________

4:-WHAT TYPE OF ACCOUNT DO YOU HAVE IN BANK?

(a) Saving

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(B) Current

(c) Fixed

(d) NRI

(e) Others    Pls specify ________________________________________

5:-How many services offered by your banks?

(a)    D-Mat A/C

(b) Mutual Funds

(c) e-Instructions

(d) LI & GI

(e) Digitally Signed Statement

6:-How w ould you know about these services?

(a) Advertisements

(b) Friends and Relatives

(c) Direct Selling Agents

(d) Others Pls specify _______________

7:-What the people think about the Banks?

(a) Necessity for protection security

(b) Imposition of a burden of expenses

(c) A compulsory tool for SAVING

(d) Others Pls specify ________________

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

(a) Standing and goodwill of the company

(b) Product range of the company

(c) Advertisement being released by the company

(d) Services being given by the company

9:-Is ICICI Bank Provide better facilities than SBI & HDFC Bank?

(a) Yes

(b) No

(c)C an`t Say

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

(a)-Young star

(b)-Senior citizen

(c)-Pre paid card

(d)-Recurring    deposits

(e)-other

11:-How would you rate product offered ICICI Bank than other?

Low      1 – 2 – 3 – 4 – 5    High

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

Low    1- 2 -3 -4 -5    High

13:-How would you divide 100 points on the basis of service provide by ICICI Bank?

(a)-Less formality

(b)-Flexibility

(c)-Less documentation

(d)-others

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