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Management Thesis
“To study on ICICI Financial Services for
Investor in Nanded city”.
Submitted By:
Waghmare ShashikantBhagwanrao .
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CERTIFICATE
This is to certify that the Management Thesis titled “To study on ICICI
Financial Services for Investor in Nanded city” submitted by Waghmare
Shashikant Bhagwanrao Enroll No: 8NBND050 during Semester III of the
MBA Program (The Class of 2010) embodies original work done by him.
Signature of theFaculty Supervisor
Name : Mrs.Sarika Lohana
Designation : Faculty Member of INC Nanded
Campus : Nanded
Table of Contents2
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Certificate……………………………………………………………………………I
Acknowledgements………………………………………………………………….II
List of table & Illustration…………………………………………………………..IIIAbbreviation………………………………………………………………………....IV
Summary……………………………………………………………………………..V
Chapter 1 Introduction
1.1 Introduction……………………………………………………………………….. 1-21.2 Objective and Limitation………………………………………………………….. 3-41.3 Methodology………………… ……………………………………………………,5-61.4 7 P’s of ICICI Bank………………………………………………………………..9
Chapter 2 Industrial Profile
2.1 Definition of Banking………………………………………………………………102.2 Overview of Banking...……………………………………………………………..11-122.3 Nature of Banking…..………………………………………………………………13-142.4 Banking Product………..…………………………………………………………...172.5 Meaning of the Banking…………………………………………………………….182.6 Type of Banking…………………………………………………………………….19-22
Chapter 3 Company Profile
3.1 About ICICI Bank………………………………………………………………….23-24
3.2 Company Profile……………………………………………………………….........253.2 Company Vision and Mission ………………………………………………….......263.3 Company Value….……………………………………………………………….....273.4 Company achievement……. …………………………………………………….....27-293.5 Product of the Bank…………………………………………………………….......30-48
Chapter 4 Finding and Analysis
4.1 Finding……………………………………………………………………………49-544.2 Review of Literature……………………………………………………………...55-584.3 Conclusion and/or Recommendations…………………………………. …………594.4Questionnaire ……………………………………………………………………....60
Chapter 5 Summary5.1 Glossary …………………………………………………………………………..615.2 References …………………………………………………………………….…625.3 Appendix ………………………………………………………………………...63
Acknowledgement
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It has been a great pleasure for me to work as a management trainee in an esteem
organization ICICI Company. Ltd that made me aware of culture followed in the
organization & gave great exposure. I would like to thank to Mr. Shivanand Bhosle
Branch Manager of ICICI Co. Ltd. for the moral support, encouragement and generous
assistance.
I express my heartfelt gratitude towards my faculty guide, Mis.Sarika lohana. I wish to
thank her for the constructive criticism, continuous encouragement and guidance provided by
her time to time during the course of studies. This project would not have been possible
without her help. I express my sincerely thanks to Campus Coordinator Mr. Rajandra
dongre. I wish to thank him for the constructive criticism, continuous encouragement.
A heartfelt thanks to the many respondents surveyed whose ideas; critical insights and
suggestions have been invaluable in the preparation of this report. I would also like to thank
my friends, colleagues and well-wisher who directly or indirectly helped me in the project.
Last but by no means the least I would like to convey my special thanks all the faculty
members of ICFAI National College, Nanded for giving valuable guidance and
encouragement to work on this project.
Guided Center Coordinate
Mrs.Sarika Lohana Mr.Rajandra Dongre
Introduction
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Banking in India can be categorized into non scheduled and scheduled banks.
Scheduled banks constitutes of commercial banks and co operative banks. There are
about 67,000 branches of scheduled banks increase across India. During the first
phase of financial reforms there was nationalization of 14 banks in 1969 .This crucial
step lead to a shift of class banking to mass banking .Banking industry is in the
transition phase it is considered as fairly mature in terms of supply, product range and
reach-even though reach in rural India still remains a challenge for the private sector
and foreign banks. Even in terms of quality of assets and capital adequacy, Indian
banks are considered to have clean, strong and transparent balance sheets-as compared
to other banks in comparable economies in its region. Public sector bank which
constitute 78 percent of the total banking assets ,but the private sector bank are
making an immense progress they are leaders in mobile ,internet and phone banking.
The Public Sector Banks (PSBs), which are the base of the Banking sector in India
account for more than 78 per cent of the total banking industry assets. Unfortunately
they are burdened with excessive Non Performing assets (NPAs), massive manpower
and lack of modern technology. On the other hand the Private Sector Banks are
making tremendous progress. They are leaders in Internet banking, mobile banking,
phone banking, ATMs. As far as foreign banks are concerned they are likely to
succeed in the Indian Banking Industry. The Reserve Bank of India is an autonomous
body, with minimal pressure from the government. The growth in the Indian Banking
Industry has been more qualitative.
Introduction of company
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ICICI Financial Services, Ltd., a holding company, operates in life insurance,
general insurance, and mutual fund businesses. It was formerly known as ICICI
Holdings, Ltd. and changed its name in 2006. The company was founded in 2007 and
is based in Mumbai, India. ICICI Financial Services, Ltd. operates as a subsidiary of
ICICI Bank, Ltd
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.
Objective
To study the awareness of ICICI Financial services.
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To understand the performance of ICICI Financial services.
To study how many customers invest his money in ICICI?
To study the market share of ICICI.
To study the customer satisfaction level.
Limitation
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• Customer provides good services for customer and do not take more gift
and facilities.
•
Though the present study aims to achieve the above-mentioned objectives
in full earnest and accuracy, it may be hampered due to certain limitations
• It covers only satisfaction level of customer and strategy apply to retention
management.
• To do the study on measuring the satisfaction levels of customer and
strategy to retain them its need much time. It is not possible to do the study
with in the minimum time.
• The sample size was quite large and the time period was less.
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METHODLOGY
Research Design
A research design is purely and simply framework or a plan for study that guides is
collection of data. Descriptive research design is adopted for analyzing the data.
Sampling Design
Population under study
Customers in and around City are the targeted respondents for the study details about
these customers are collected from merchant association
Sample size
Once the population is determined the sample size has to be fixed. Two hundred fifty
sample respondents are taken based on simple random sampling method. The various
variables like awareness, usage level & satisfaction of respondent are gathered to be
studied.
Sampling Frame
The frame refers to the customers who have been selected for the study.
Sampling Technique
A convenient sampling was followed to have sufficient discretion in selecting the
sample.
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Data Collection Method
Data collection is the most impeccant aspects in the research methodology. The data
was collected based on interview technique and personally handed out structured
questionnaire questions were resented is exactly the same words is the same order to
all the respondents.
The questionnaire was conceived in such a way that the questions as well as the
answers were standardized. This is accomplished by employing fixed alternative.
Such a questionnaire facilitates easy administration & tabulation and analysis closed
ended questionnaire was used in the study.
Group companies
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• ICICI Prudential Life Insurance Company Limited
• ICICI Lombard General Insurance Company Limited
• ICICI Securities Limited
• ICICI Venture Funds Management Company Limited
• ICICI Home Finance Company Limited
• ICICI Investment Management Company Limited
• ICICI Trusteeship Services Limited
• ICICI Brokerage Services Limited *
• ICICI Distribution Finance Private Limited
ICICI Bank
The Bank was incorporated on 5th January 1994 at Baroda. ICICI Bank was promoted
by ICICI and erstwhile SCICI Ltd. and received the Certificate for Commencement of
Business on 24th February. It does banking business of all kinds. It was founded as an
institution to provide quality banking services using state-of-the-art technology.
The Bank has established a well diversified branch network with 24 branches in 15 centers
covering 12 states. The bank set up a fully computerized environment with the State-of-the-
art technology at all offices continuously upgrading its strong systems and procedures with
special emphasis on risk management.
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Feature of ICICI bank
•
Second largest bank in India with asset size of over US $ 24 billion
• A network of 540 branches /offices and over 1,700 ATMs
• Presence across all financial products
• Only FI in India to pierce sovereign rating
• Technology-enabled products and processes
Product of ICICI bank
• Savings Account
• Fixed Deposit
• Demat Account
• Senior Citizen's Account
• Credit Card – Gold Card
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7 P's of marketing of ICICI Bank
Product Mix
- Deposits
- Investments
- Anywhere Banking
- Loans
- Cards
- Demat Services
- Mobile Banking
- NRI Services
Pricing Mix
Place
- Location of Branchs
- Location of ATM's
Promotion Mix
Process
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Physical Evidences
People
Chapter 2
Industrial Profile
Definition of Banking
The Banking Regulation Act, 1949 is the basis for regulation of banking in India.
Section 5(b) of the Act defines banking as “banking” means the accepting, for the purpose of
lending or investment, of deposits of money from the public, repayable on demand or
otherwise, and withdraw able by cheque, draft, order or otherwise.
“A bank is a financial institution licensed by a government. Its primary activity is to lone
money. Many other financial activities were allowed over time. For example banks are
important players in financial markets
In general terms, “the business activity of accepting and safeguarding money owned by other
individuals and entities, and then lending out this money in order to earn a profit”.
“An organization, usually a corporation, chartered by a state or federal government, which
does most or all of the following: receives demand deposits and time deposits, honors
instruments drawn on them, and pays interest on them; discounts notes, makes loans, and
invests in securities; collects checks, drafts, and notes and offer financial services such as
investment funds”.; certifies depositor's checks; and issues drafts and cashier's checks”.
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Overview of Banking Sector
The banking system in India is significantly different from that of other Asian nations
because of the country’s unique geographic, social, and economic characteristics. India has a
large population and land size, a diverse culture, and extreme disparities in income, which are
marked among its regions. There are high levels of illiteracy among a large percentage of its
population but, at the same time, the country has a large reservoir of managerial and
technologically advanced talents. Between about 30 and 35 percent of the population resides
in metro and urban cities and the rest is spread in several semi-urban and rural centers. The
country’s economic policy framework combines socialistic and capitalistic features with a
heavy bias towards public sector investment. India has followed the path of growth-led
exports rather than the “exported growth” of other Asian economies, with emphasis on self-
reliance through import substitution.
These features are reflected in the structure, size, and diversity of the country’s banking and
financial sector. The banking system has had to serve the goals of economic policies
enunciated in successive five year development plans, particularly concerning equitable
income distribution, balanced regional economic growth, and the reduction and elimination of
private sector monopolies in trade and industry. In order for the banking industry to serve as
an instrument of state policy, it was subjected to various nationalization schemes in different
phases (1955, 1969, and 1980). As a result, banking remained internationally isolated (few
Indian banks had presence abroad in international financial centers) because of
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preoccupations with domestic priorities, especially massive branch expansion and attracting
more people to the system. Moreover, the sector has been assigned the role of providing
support to other economic sectors such as agriculture, small-scale industries, exports, and
banking activities in the developed commercial centers (i.e., metro, urban, and a limited
number of semi-urban centers).
The banking system’s international isolation was also due to strict branch licensing controls
on foreign banks already operating in the country as well as entry restrictions facing new
foreign banks. A criterion of reciprocity is required for any Indian bank to open an office
abroad.
These features have left the Indian banking sector with weaknesses and strengths. A big
challenge facing Indian banks is how, under the current ownership structure, to attain
operational efficiency suitable for modern financial intermediation. On the other hand, it has
been relatively easy for the public sector banks to recapitalize, given the increases in
nonperforming assets (NPAs), as their Government dominated ownership structure has
reduced the conflicts of interest that private banks would face.
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Nature of Banking
Nature and Scope of Banking
Banking activities are considered to be the life blood of the national economy. Without
banking services, trading and business activities cannot be carried on smoothly. Banks are the
distributors and protectors of liquid capital which is of vital significance to a developing
country. Efficient administration of the banking system helps in the economic growth of the
nation. Banking is useful to trade and commerce.
Banking activities are useful to trade and industry in the following ways.
a) Money deposited in a bank remains safe. Precious articles too can be kept in the safe
custody of banks in lockers.
b) Banks provide credit facilities to their customers. Customers with bank accounts also enjoy
better credit in the business world.
c) Banks encourage the habit of saving and thrift among people. They mobilize savings and
invest them in productive activities. Thus, they help in increasing the rate of savings and
investment in the country.
d) Banks provide a convenient and safe means of transferring money from one place to
another and facilitate business dealings/ transactions.
e) Banks collect and realize bills, cheque, interest and dividend warrants etc. on behalf of
their customers.
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f) Foreign trade is facilitated considerably with the help of banks which receive and make
payments, provide credit and deal in foreign exchange. They protect importers from the risk
of loss on account of exchange rate fluctuations. They issue letter of credit and provide
information on the credit worthiness of importers. They also act as referees of their
customers.
g) Banks meet the financial needs of small-scale business units which are located in
economically backward areas.
h) Farmers and artisans in rural areas can also avail of bank credit for financing their
activities.
i) Commercial banks provide many other services to the general public which includes locker
facility, issue of traveler’s cheque and gift cheque, payment of insurance premium, etc.
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Service activities of banks
Service activities of banks may be categorized as follows:
i) Agency services
ii) General services
Agency services
Banks undertake/various agency services for their customers. These are
outlined below.
a) Collection of cheques, drafts, and bills of exchange on behalf of customers.
b) Collection of dividend and interest warrants of customers.
c) Collection of pension of government employees.
d) Purchase and sale of securities on the instructions of customers.
e) Executing standing orders for payment of rent, electricity bill, insurance
premium etc.
f) Acting as correspondent or representative of customers in dealing with other
banks.
g) Acting as trustee or executor when so nominated.
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General Services
A commercial bank also performs the following services of general utility to
the public:
a) Issue of letters of credit, traveller’s cheques and circular notes.
b) Safe custody of valuables like gold, jewellery and important
documents in safe deposit vaults (lockers) available on hire.
c) Supply of trade information.
d) Acting as a referee as regards financial status of customers.
e) Acceptance of bills of exchange on behalf of customers.
f) Underwriting loans floated by government and public bodies.
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Meaning of the Banking
Bank is an institution which deals in money and credit. It accepts deposits from the public
and grants loans and advances to those who are in need of funds for various purposes.
Banking is an activity which involves acceptance of deposits for the purpose of lending or
investing. In addition to accepting deposits and lending funds, banking also involves
providing various other services along with its main banking activity. These are mainly
agency services, but include several general services as well. A banker is one who undertakes
banking activities, accepting deposits and lending money for different purposes. The Banking
Regulation Act, 1949 defines banking as an activity of accepting funds from the public for the
purpose of lending or investment. The essential features of banking activities are as follows:-
i) Accepting deposits from public;
ii) Lending or investment of such deposits;
iii) Incidental to the activities of accepting deposits for lending or investing, banks undertake
activities like —
a) Promoting and mobilizing savings of the public;
b) Providing funds to trade and industry by way of discounting bills, overdraft, cash credit
facility, and transfer of funds from one place to another;
c) Providing agency services to customers, such as collection of bills, payment of insurance
premium, purchase and sale of securities, etc., and other general services, such as issue of
travelers’ cheques, credit cards, locker facility, etc; Money deposited with the bank is assured
as far as its safety is concerned. Further the depositor is allowed to withdraw it whenever
required. Banks allow interest on deposits. Such interest helps in the growth of fundsdeposited with the bank. Thus the rate of interest provided on deposits acts as an incentive to
the depositors.
Type of Indian Banking
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(1)Central Bank (RBI)
(2) Commercial Banks
(3) Industrial Banks
(4) Foreign Exchange Banks
(5) Development Banks
(6) Regional Rural Banks
(7) Co-operative Banks
Reserve Bank of India (Central Bank)
In every country, the bank which is entrusted with the responsibility of guiding and regulating
the banking system is known as the Central Bank. In India the central banking authority is the
Reserve Bank of India. The Reserve Bank does not deal directly with the members of public.
It acts as bankers’ bank maintaining deposit accounts of all other banks and advances money
to banks whenever needed. It regulates the volume of currency and credit, and has powers of
control and supervision over all banking institutions.
The Reserve Bank also acts as goverment banker and maintains the record of goverment
receipts, payments and borrowings under various heads. It advises the government on
monetary and credit policy, besides deciding on the rate of interest on bank deposits and bank
loans. It is the custodian of currency reserves consisting of foreign exchange, gold and other
securities. Another important function of the Reserve Bank is the issue of currency notes and
regulation of the money supply.
Commercial banks
Commercial banks are banking institutions which accept deposits from the public and grant
short-term loans and advances to their customers. In India, there are nationalised (public
sector) commercial banks as well as private sector banks which are corporate organisations.
The largest commercial bank is the State Bank of India which was established in 1955 under
a special Act. The main source of income of commercial
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banks is the difference between the interest they charge on loans and the interest they allow
on deposits. Commercial banks generally grant short-term loans repayable within one year.
But they also meet the medium-term and long-term requirements of business enterprises.
Besides accepting deposits and lending money, commercial banks provide other services such
as issue of bank drafts, traveller’s cheques and letters of credit, collection of bills, dividends
and interest safe keeping of Valuables, transfer of money from one place to another, payment
of insurance premium etc. All these functions are discussed in the next lesson under the head
“Functions of Banks”.
Industrial Banks
Industrial Banks are corporate organisations which specialise in providing industrial capital
by subscribing to the share and debenture issues of public companies. Industrial banks
normally meet the long term requirements of funds for purchase of land, plant and machinery,
and financing of expansion and diversification activities of industrial companies. These banks
generally secure representation on the board of directors, and provide technical guidance inthe management of industrial companies.
Foreign Exchange Banks
Business firms engaged in foreign trade receive and make payment through foreign currency.
In order to facilitate such transactions and also help exporters and importers, there are
banking institutions which primarily engage in transactions involving foreign exchange.
These are known as Foreign Exchange Banks. In India, Export and Import Bank of India
(EXIM Bank) has been set up by the Government to help export and import trade and other
related activities. Such activities are also undertaken by the foreign exchange division of
commercial banks. Exchange banks which are foreign in origin have their head offices
located outside India. Besides financing foreign trade, the exchange banks also render
services incidental to their main function, such as
acting as referees, collecting and supplying information about the foreign customers,
providing remittance facilities. They engage in other kinds of banking business as well, like
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acceptance of deposits, grant of loans and advances, etc. However, financing foreign trade
remains their field of specialisation. Licensing of these banks is required under the Banking
Regulation Act 1949. Their operations are subject to general control of the Reserve Bank of
India. Regarding their foreign exchange transactions, these banks are governed by the
Exchange Control Regulations.
Development Banks
Development banks are special financial institutions which provide longterm capital to
industry. Rapid development of industries in India after independence requiring huge
financial investment and promotional efforts led to the establishment of these instutions.
Development banks assist the promotion, expansion and modernisation of industries, Besides
providing long-term finance, these banks also subscribe to the capital issues of industrial
undertakings, if the public subscription falls short of the total issue. Thus they act as
underwriters as well. Moreover, these banks provide technical advice and assitance, if
needed. Development banks which have been established and functioning in India are:
Industrial Finance Corporation of India (I.F.C.I)
State Finance Corporation (S.F.Cs.)
Industrial Credit and Investment Corporation of India (ICICI)
Industrial Development Bank of India (I.D.B.I.)
Industrial Reconstruction Bank of India (I.R.B.I.)
Industrial Development Bank of India acts as an apex oganisation to co-ordinate and assist in
long term industrial finance by other institutions.
Regional Rural Banks
Commercial and industrial banks cater to the financial needs of trade and industry. In rural
areas, there are small farmers, farm labourers, artisans and small entrepreneurs, who need
financial assistance. To meet their financial needs, a separate category of banks known as
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Regional Rural Banks have been set up in India. These banks are financed by nationalised
banks. The central goverment specifies the local limits within which regional rural banks
shall operate. The banks are allowed to establish their own branches or agencies within the
specified area. They grant loans at lower rates of interest than the rates charged by other
banks. These banks are rural based, rural oriented and organized like commercial banks. The
purpose of these banks is to finance agricultural operations and provide employment to rural
educated youth who possess the requisite orientations. Regional Rural Banks have been
conceived to combine the strong points of both the co-operative and commercial banks
eliminating the weaknesses of both. The Regional Rural Banks have been included in the
second schedule of the Reserve Bank of India Act and, therefore, they enjoy the same
privileges and facilities as the scheduled banks, including access to the Reserve Bank for
financial accommodation.
Co-operative Banks/Society
Co-operative Banks in India are established under the provisions of the Co-operative
Societies Act 1912. These are organised on co-operative basis. It was with a view to provide
adequate credit at economical rates of interest to the farmers, that co-operative credit societies
were first, organised in villages for providing financial help to agriculturist and rural artisans.
Co-operatives banks are organised both at primary and district level. Co-operative Credit
Societies (banks) at the primary level/local level are members of central co-operative banks at
the district level. Similarly, at the state level, there are state co-operative bank, which finance,
co-ordinate and control the central co-operative banks in each state. Thus the structure of co-
operative banks in India is
Pyramidal in nature. A co-operative credit society (bank) at the primary level can be formed
by the local people having common interest and common purposes. The co-operative banks
generally grant loans for productive purposes but they can also do so for other purposes. The
rate of interest charged is very moderate. The mode of recovery of loan is not very rigid.
Chapter 3
Company Profile
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About ICICI
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 Bank'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 services group offering a wide variety of products and
services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In
1999, ICICI become the first Indian company and the first bank or financial institution from
non-Japan Asia to be listed on the NYSE.
After consideration of various corporate structuring alternatives in the context of the
emerging competitive scenario in the Indian banking industry, and the move towards
universal banking, the managements of ICICI and ICICI Bank formed the view that the
merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities,
and would create the optimal legal structure for the ICICI group's universal banking strategy.
The merger would enhance value for ICICI shareholders through the merged entity's access to
low-cost deposits, greater opportunities for earning fee-based income and the ability to
participate in the payments system and provide transaction-banking services. The merger
would enhance value for ICICI Bank shareholders through a large capital base and scale of
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Head Quarter : Bombay.
Major Industry : Financial.
Sub Industry : Commercial Banks.
Country : INDIA.
Products : Financial.
Founded : 1994.
Key persons : Mr. K.V. Kamath
Managing Director & CEO.
Company’s Vision
Vision:
To be the leading provider of financial services in India and a major global bank.
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To be the preferred bank for total financial and banking solutions for both
corporate and individuals
Company’s Mission
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-class products and services.
• 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
Company’s Values
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ICICI bank second largest bank in India. Customer invests his money in ICICI because
customer knows the value of the company. ICICI bank is a privet sector bank in India ICICI
value more as compare to other privet players. ICICI bank provides very good facilities to
customer that’s why customer focuses on ICICI. It is also providing to customer 24 hours
ATM services, personal banking, NRI banking, Mobile banking and Internet banking. And it
is also provide to customer easy lone service mean customer gating very fast lone within one
week. These are the total value of the ICICI Company. It share value is also good customer
gating good return form ICICI shares.
Achievements OF The Companys
• Ms Chanda Kochhar, MD and CEO was awarded with the Indian Business Women
Leadership Award at NDTV Profit Business Leadership Awards , October 26, 2009.
• ICICI Bank received two awards in CNBC Awaaz Consumer Awards; one for the
most preferred auto loan and the other for most preferred credit Card, on September 30, 2009
• Ms. Chanda Kochhar, Managing Director & CEO ranked in the top 20 of the World's
100 Most Powerful Women list compiled by Forbes, August 2009
• Financial Express at its FE India's Best Banks Awards, honoured Mr. K.V. Kamath,
Chairman with the Lifetime Achievement Award , July 25, 2009
• ICICI Bank won Asset Triple A Investment Awards for the Best Derivative House,
India. In addition ICICI Bank were Highly commended , Local Currency Structured product,
India for 1.5 year ADR GDR linked Range Accrual Note., July 2009
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• ICICI bank won in three categories at World finance Banking awards on June 16,
2009
•Best NRI Services bank
•Excellence in Private Banking,APAC Region
• Excellence in Remittance Business, APAC Region
• ICICI Bank Mobile Banking was adjudged "Best Bank Award for Initiatives in
Mobile Payments and Banking" by IDRBT, on May 18, 2009 in Hyderabad.
• ICICI Bank's b2 branchfree banking was adjudged "Best E-Banking Project
Implementation Award 2008" by The Asian Banker, on May 11, 2009 at the China World
Hotel in Beijing.
• ICICI Bank bags the “Best bank in SME financing (Private Sector)” at the Dun &
Bradstreet Banking awards 2009.
• ICICI Bank NRI services wins the “Excellence in Business Model Innovation Award”
in the eighth Asian Banker Excellence in Retail Financial Services Awards Programme.
• ICICI Bank's Rural Micro Banking and Agri-Business Group wins WOW Event &
Experiential Marketing Award in two categories - “Rural Marketing programme of the year”
and “Small Budget On Ground Promotion of the Year”. These awards were given for Cattle
Loan 'Kamdhenu Campaign' and 'Talkies on the move campaign' respectively.
• ICICI Bank's Germany Branch has been certified by “Stiftung Warrentest”. ICICI
Bank is ranked 2nd amongst 57 savings products across 19 banks
• The ICICI Bank was awarded the runner's up position in Gartner Business Intelligence
and Excellence Award for Asia Pacific for its Business Intelligence functions.
• ICICI Bank Germany won the yearly banking test of the investor magazine €uro in the
“call money”category.
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• ICICI Bank's Organisational Excellence Group was recently awarded ISO 9001:2008
certification by TUV Nord. The scope of certification comprised processes around consulting
and capability building on methods of quality & improvements
• ICICI Bank has been awarded the following titles under The Asset Triple A Country
Awards for 2009:
• Best Transaction Bank in India
• Best Trade Finance Bank in India
• Best Cash Management Bank in India
• Best Domestic Custodian in India
• ICICI Bank has bagged the Best Cash Management Bank in India award for the
second year in a row. The other awards have been bagged for the third year in a row.
• ICICI Bank Canada received the prestigious Canadian Helen Keller Award at the
Canadian Helen Keller Centre's Fifth Annual Luncheon in Toronto. The award was given
to ICICI Bank its long-standing support to this unique training centre for people who are
deaf-blind.
Product of the ICICI Bank
• Account
• Investment
• Any where Banking
• Lone
• Cards
• Demat Service
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• Mobile Banking
• Phone Banking
• Internet Banking
• NRI Services
• ATM
Account
1. Savings Account
An ICICI Bank Savings Account offers you a valuable banking experience.
• Debit-cum-ATM Card
• Money Multiplier Facility
• Internet Banking
• Customer Care
• Mobile Banking
• Standing Instructions
• Nomination facility
•
DD Call and Collect
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Standing Instructions
ICICI Bank accepts and supports Standing Instructions. You don’t have to worry about the
ch€ore of carrying out a routine transaction. Just set up a Standing Instruction and leave it to
us to manage.
Nomination Facility
You may nominate a person as beneficiary to your account proceeds.
DD Call and Collect
Don’t waste even a minute in a queue to collect a Demand Draft or Pay Order. On the way to
the branch, just call Customer Care, provide details of the DD to be prepared and collect it
ready and signed at the branch.
Features
• The ICICI Bank International debit card is a debit-cum-ATM card
providing you with the convenience of acceptance at merchant
establishments and cash withdrawals at ATMs.
• The next time you want to withdraw cash from your ICICI Bank
Savings account, just walk into any bank's ATM and use your ICICI
Bank ATM-cum-Debit card for free. The above benefit is available to
individual domestic Savings Account holders on maintenance of a
quarterly average balance of more than Rs.10, 000 in the savings
account in a quarter. The above benefit can be availed in the same
quarter.
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3. Salary Account
ICICI Bank Salary Account is a benefit-rich payroll account for Employers and Employees.
As an organization, you can opt for our Salary Accounts to enable easy disbursements of
salaries and enjoy numerous other benefits too.
With ICICI Bank Salary Accounts your employees will enjoy the convenience of
• Having the largest network of ATMs at their command,
• Free 24 hour Phone Banking.
• Free Internet Banking.
All you would require to do is to send ICICI Bank an advice (in form of a cheque/debit
instruction, ecs, etc) for the total salary amount along with the salary details of the designated
employees in a soft and hard copy format and we will credit the respective employees'
accounts as per your statement of advice.
ICICI Bank Salary Accounts benefits you in more than one ways:-
• Reduces your paperwork.
• Saves remittance costs.
• Employees receive instant credit of salaries.
• More convenient than ECS
Besides all of the above, employees will automatically become ICICI Bank account holders
with special benefits and privileges of 8-8 banking, Investment advisory and much more...
ICICI Bank also has a special offering: Defense Banking Services designed exclusively for
the armed forces.
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Advantage - Employers
As an organization, you can opt for our Salary Accounts to enable easy disbursements of
salaries and enjoy numerous other benefits too.
With ICICI Bank Salary Accounts your employees will enjoy the convenience of:
• Having the largest network of ATMs at their command
• Free 24 hour Phone Banking
• Free Internet Banking
All you would require to do is to send ICICI Bank an advice (in form of a cheque
/debit instruction, ecs, etc) for the total salary amount along with the salary details of the
designated employees in a soft and hard copy format and we will credit the respective
employees' accounts as per your statement of advice.
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Investment
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 Corporates
• 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
Anywhere Banking
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ICICI Bank is the second largest bank in the country. It services a customer accounts
through a multi-channel access network. This includes branches and extension
counters, ATMs, call center and internet banking.
Thus, one can access the various services ICICI Bank has to offer at anytime, anywhere and
from anyplace. To learn more about the various channels, please click on the topic of your
interest mentioned in the left menu.
• AnyWhere Banking is a highly secure and convenient system for online, real-time
inter branch transactions across the Bank.
• This system has facilitated Any-where Banking facility through all our
Branches and Extension Counters.
• This system has enabled us to launch host of customer friendly services.
• - ATMs : Installation of ATMs at each of our branches/ extension counters, Offsite
locations is in process, out of which 74 onsite ATMs have already been commissioned.
Loans
1. Home Loans
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2. Personal Loans
3. Car Loans
4. Commercial Vehicle Loans
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 Loan
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 upto Rs. 15 lakhs.
Car Loan
The most preferred financier for car loans in the country. Network of more than 1000
channel partners in over 200 locations. Tie-ups with all leading automobile manufacturers to
ensure the best deals. Flexible schemes & quick processing.
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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,
Xtend product, working capital loans & other banking products.
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Cards
1. Credit Card
2. Travel Card
3. Debit Cards
4. Corporate Cards
5. Prepaid Cards
6. Purchase Card
7. Business Card
Credit card
ICICI Bank Credit Cards give you a smart way to shop, and offer you flexibility and
convenience in managing your finances. Choose from a wide range of credit cards designed
to cater to your specific lifestyle requirements.
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.
Debit card
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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 3.5 Lakh merchants in India and 24 million merchants
worldwide.
Carporat card
ICICI Bank Corporate Cards offer better management of employee's travel and entertainment
expenditure; control on employee spends and facilitates cashless transactions for the
employee and the corporate.
Prepaid card
ICICI Bank brings to you a complete bouquet of prepaid cards providing payment
solutions at your fingertips. ICICI Bank prepaid cards are a safe & convenient way for
associate payments, disbursements, gifting & small ticket transactions. Prepaid cards are
available on a VISA platform thus providing accessibility to over one lakh merchant
establishments & cash withdrawal from all VISA ATMs in India.
Purchase Card
The ICICI Bank Purchase Card is a card based payment solution that streamlines and
effectively controls procurement processes of corporates. Purchase card can be used for
expenses like Travel & Entertainment (T&E), Telecommunications, MRO, Office products,
Professional services & Utility payments. A credit limit is assigned to the corporate on the
card and the corporate can thereafter use the card for making payments to all vendors &
suppliers. The corporate gets a credit period of up to 50 days and can thereafter repay ICICI
Bank as per the billing due date. And ICICI Bank Purchase card can be used on any VISA or
MasterCard Network.
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Business card
The ICICI Bank Business Card is aimed at SMEs as an enabler for their business.
The Business card is a smart alternative to cheques, cash, and personal credit cards. With its
purchasing convenience, cost savings, available credit, and detailed reporting facilities, the
ICICI Bank Business Credit Card offers what your business needs to stay on top.
Demat Services
ICICI Bank Demat Services boasts of an ever-growing customer base of over 16.29 lacs
customer base as on 30.09.09 account holders. In our continuous endeavor to offer best of the
class services to our customers we offer the following features:
e-Instructions: You can transfer securities 24 hours a day, 7 days a week through Internet &
Interactive Voice Response (IVR) at a lower cost. Now with "Speak to transfer", you can also
transfer or pledge instructions through our customer care officer.
Digitally Signed Statement: Receive your account statement and bill by email.
Corporate Benefit Tracking: Track your dividend, interest, bonus through your
account statement.
Mobile Request: Access your demat account by sending SMS to enquire about
Holdings, Transactions, Bill & ISIN details.
Mobile Alerts: Receive SMS alerts for all debits/credits as well as for any request
which cannot be processed.
Dedicated customer care executives specially trained at our call centre, to handle all your
queries.
Countrywide network of over 580 branches, you are never far from an ICICI Bank
Demat Services outlet
Mobile Banking
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Mobile Banking we have an option to remain updated while we are on the move,
without even having to make a phone call or a visit or logging on the Internet. ICICI Bank
Mobile Banking for Demat Accounts can be divided into two broad categories:
• Request facility
• Alter facility
The registration is common for both facilities. Please fill Mobile Alerts Registration
Form and submit to any ICICI Bank branch offering demat services. The facility is
completely FREE. You are not charged a single rupee by ICICI Bank for alerts received by
you.
Request Facility
Through this facility, you can query for demat account information in respect of your demat account anytime at your convenience. You can enquire for:
• Holdings
• Transactions Status
• Bill Details
• ISIN Search
In Request facility, to check your holdings you can use any scrip descriptor like
Company name, Webtrade scrip code, NSE symbol, BSE code in the message
Alert Facility
Through this facility, you will receive SMS alert from ICICI Demat on the following
events:
• Demat account getting credited
• Demat account getting debited
• Pledge creation
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A user friendly automated service menu offers you convenient access to your account
coupled with security as, all your transactions are protected by a ATM Pin - The Personal
password to your Banks & Credit card Account and Tpin for your Demat Account. But if you
do need any assistance our officers will be glad to help you.
Self Phone Banking (IVR) access Mechanisms are as follows:
• For Deposits -The customer would need to key-in his ATM/Debit Card Number and
its corresponding ATM PIN.
• For Demat Account Holders -The customer would need to key-in his 14 Digit
Demat Account Number and its TPIN.
• For Bond Account Holders -The customer would need to key in his Bonds holder
Number only.
• Services offered are listed below -
• Banks Functionalities:
• Enter Debit Card number + ATM PIN
Instant Readout: Available Balance, Funds in Clearing (Dynamic).
NRI BankingIn NRI banking which person he is not resident in India that person it is very help full
because sometime he is send his money in India
With a view to attract the savings and other remittance into India through banking
channels from the person of Indian Nationality / Origin who are residing abroad and bolster
the balance of payment position, the Government of India introduced in 1970 Non-
Resident(External) Account Rules which are governed by the Exchange Control Regulations
Internet Banking
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ATM services
ATM
ICICI Bank's 24 Hour ATM network is one of the largest and most widespread ATM
Network in India. Our ATMs are located in commercial areas, residential localities, major
petrol pumps, airports, near railway stations and other places which are conveniently
accessible to our customers.
ICICI Bank ATMs features user-friendly graphic screens with easy to follow
instructions. We have introduced ATMs which interact with customers in their local language
for increased convenience.
Following are the features available on our ATMs, which can be accessed from
anywhere at anytime.
Cash Withdrawal: Withdraw upto Rs. 25,000/- per day from your account (50,000 for
HNI's). Fast Cash option provides the facility of withdrawing prefixed amounts. Ultra Fast
Cash option allows you to withdraw Rs.3000/- in one shot.
Cash Withdrawal: Withdraw upto Rs. 25,000/- per day from your account (50,000 for
HNI's). Fast Cash option provides the facility of withdrawing prefixed amounts. Ultra Fast
Cash option allows you to withdraw Rs.3000/- in one shot.
Balance Enquiry : Know your ledger balance and available balance
Mini Statement : Get a printout of your last 8 transactions and your current balance.
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Chapter 4
Finding and Analysis
Market Share amongst private players
ANALYSIS AND INTERPRETATION
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1. Educational Qualification
Interpretation
The study shows that the graduates and professional are the majority of the prospective clients and that is what company is also looking for the futurecustomers.
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Educational
qualification
HSC Graduate Professionals Other Total
Numbers of Respondants
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Interpretation
According to the study-conducted majority of the population in Nanded are in income group of Rs.1,00,000 lakh to 2,50,000 lakh which can be more potential for the Company.
3. Do you know about Type of Banking?
Awareness of Banking No. Of Sample
Yes 200
No 50
Total 250
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Interpretation
Though the Banking Sector is booming, more than half of the population is still away from this and most of the people are investing for the purpose of life Saving A/c and Fixed A/c.
5. Parameters of top most Banking companies according to customers.
Parameter of USP ICICI HDFC Axsis ING TOTAL
Security of money 16 20 14 10 660
Brand name 26 18 22 10 746
Lone return 22 14 20 8 6
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TOTAL 64 58 44 34 200
Interpretation
From the above graph it can be concluded that most of the respondents are
aware about the other private player and they are ready to invest their money withthese companies.
Literature Review
ICICI Bank Credit Cards: Excellent Offers With Feasible Terms And
Conditions
Article sachin sanokh
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various other value added services like bill pay service, health insurance services, merchant
services etc.
Unlike the ICICI Bank credit cards, various other banks have also come up with such options
with distinctive offers and features. In this context, the Deutsche Bank credit cards, have
come up with excellent offers that have created waves in the market. The most impressive
fact about this card is that, it provides easy loan options. The subscriber can now take a loan
or convert it into EMI's. It consists of db EMI's also that helps the subscriber to make big
purchases and also helps him/her to pay it back in small flexible EMI's. Other than this, what
is more stunning is the fact that it does not require any documentation. The tenure of the card
can be changed as and when required and it also has the option of pre-closure that can be
done any time. What is more impressive is, that, no-a-days even carrying a card is not always
necessary. You can even opt for online credit card options. The main advantage of online
banking is that, it can be accessed anywhere. All you need to do is log on to any of the
Internet banking websites and fill up a form to register for online credit cards.
Ensure your future with insurance policies
Article Rajan sahi
When it comes to the insurance policies, trust and confidence of a person interested in buying
one, gets tested largely. However, despite attending this issue with due care and caution,
people still make mistake of choosing a wrong policy that does not suits to their needs nor
does it fits in their budgetary bill. Some two decades back the insurance industry in the Indian
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economy was not that developed. There were only few recognizable names that were
monopolizing this segment. However, inception of Foreign Direct Investment in the
economic plans opened gates for private players from almost every corner of the world to
come in India and try their luck in Insurance business here.
Meanwhile, the event also triggered the surge of many domestic corporate players who were
interested in exploring the untapped insurance potential locked in the Indian masses. Many
players such Reliance two wheeler insurance, Iffco-Tokio general insurance, ICICI
Lombard and many more rose to the occasion and went on to occupy a special place in the
insurance Segment of the country
The story was going good until recessional blues surfaced throwing every possible business
equation of the above-mentioned players in turmoil. Sabotaged by liquidity crisis, insurance
industry in India and abroad, went for a crash. However, after a prolonged stretch of
suffering, these insurance bodies bounced back. Recovery period soon followed as
recessional chills also got diluted.
Foreseeing the green shoots, many players restructured their business plans and strategies and
employed them effectively. Fortunately for them, resurgence was definitive and so was the
end-result. Interestingly, companies such as Reliance & Iffco Tokio general insurance did
quite an outstanding job by bouncing back. In fact the customer base too reacted favourably
to their scheme of things and suddenly business profits started pouring in although profit
figures were not exactly the same as they were before the recession hit the shores but even
that is turning out to be encouraging enough. Talk about faith, and even this element was also
getting restored.
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Talking from a business point of view, policies like Reliance two wheeler insurance proved to
be a success and that is despite the fact that auto-industry till some time back was going
through a low phase. This product appealed to their senses and no wonder made history in
terms of success. The policy manufacturers too realized the fact that after recession, it will
not be the cheesy one-liners advertisements & billboards but the actual product service that
will be drawing in buyers. They worked on it and made it a success.
The reason for the recent success of Iffco Tokio general insurance product is also more or less
same. The market was relatively fresher and invited out-of-box insurance product ideas that
are primarily focused to deliver service assumed satisfactory according to user level.
CONCLUSIONS
Though the Banking Sector is booming, more than half of the population is still away from
this and most of the people are not having accurate knowledge about ICICI.
The size of the market has grown and the size of the insurable population in India is indeed
vast and the existing player has managed to cover about one-fourth of it. The opportunities
before the players are therefore plenty in terms of target audience.
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The increasing interest rates, the emerging Banking and entry of new player like Axsis,
HDFC Bank, HSDC Bank and ING gives a signal that insurance in an lucrative industry.
Also, the promise of e-commerce is some of the other opportunities knocking at the doors of
the insurance majors.
From analysis of the questionnaire it can be concluded that Banking Sector is booming
• SBI is a market leader & facing stiff competition from Private
Insurance Company.
•
After during survey it can be concluded that most people are aware
about the Banking
• Most of the people are not still aware from the benefits of ULIP and
are interested in getting information.
• As private players are also in Banking, investors are looking for the
brand name and return of that company where they want to invest their
money.
• From the survey it has been found that, HDFC Bank has just entered
inn the market but most of the customer are ready to invest in that
company. For customer ICICI Bank one of the big business empire of
India.
• ICICI Bank is having a good Brand image in the minds of customers
and according to them ICICI Bank can be a safe place to invest their
money.
Questionnaire:-
Do you know about ICICI Financial services?
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Do you have ICICI bank account?
Do you Invested your Money in ICICI financial services?
Do you provide very good services?
In which bank do you have bank account?
Why you choose ICICI financial services?
Do you have another account in other bank?
Which services do you provide your financial services?
Glossary
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Accountability: when a person has been assigned the necessary authority and responsibility
to undertake a particular task, he is accountable or answerable to others for his performance.
Authority: The right to give orders and power to extract obedience.
Bonus: An extra payment given to employees beyond their wage/salary.
Branch mark: A measurable variable used as a baseline or reference in evaluating the
performance of an organization.
Beneficiary: A person who is not a party to a contract who is designed by a party to receive
the benefits of the contract
Career Planning: The process by which an individual selects career goals and he path to
achieve these goals.
Communication: The transfer of information from one person to another.
Compensation: The reward that employees receive in exchange for their contribution to an
organization.
Conflict: It occurs when the parties involved, practices perceive an incompatibility of goals
or difference of opinions.
Co-ordination: The task of integrating efforts to ensure successful achievement of an
objective.
Discipline: A force that prompts individuals or groups to observe the rules, regulations and
procedures which are deemed to be necessary for effective functioning of an organization.
Deflation: It can be define as a situation where price of essential goods and services are
decaling over time.
E- commerce: Conducting business over electronic network, usually via the internet.
Economic of scale: It refers to decreasing of cost of overall operation and performance byvirtue of large size of operations.
References
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Article
• Article use for authors. sachin sanokh, Rajan sahi, John and Addi varma.
• Business research method. ICFAI University.
• ICFAI journal of banking.
• Business world magazine.
• Performance management concept.
Book
• Banking overview book. ICFAI university
• Privet Banking. ICFAI university
• Overview of Banking. ICFAI University.
• Private Banking an Introduction. B SUJATA NANCY JOHN
Web Side
• www.icicibank.com
• www.performance-appraisal.org
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Appendix
1) Name of the person______________________________________________
Address_______________________________________________________ Phone No._____________________________________________________
Education- HSC [ ] Graduate [ ] Professional [ ] Other [ ]
Annual Income- Less than 1,00,000 lakh [ ]
1,00,000 to 2,50,000 lakh [ ]
2,50,000 to 4,00,000 lakh [ ]
More than 4,00,000 lakh s [ ]2) Do you know about Banking?
Yes [ ] No [ ]
3) Why you invest in Banking?
Saving a/c [ ] Fixed a/c [ ] Investment [ ] salary a/c[ ]
4) Which is the factor you considered most while taking any Bank ?
Brand name of the company [ ] Past Returns [ ] Security of money [ ]5) Mention top five Banking companies you know?
1. -------------- 2. -------------- 3. ----------------- 4. --------------- 5. --------
6) How would you Interest rate in ICICI?
Fair [ ] Average [ ] Good [ ] Best [ ]
7) Do you know about the Type of Banking?
Yes [ ] No [ ]
8) If yes, which Bank you would like to take and why?
Axsis [ ] ICICI [ ] HDFC [ ] ING [ ] HSBC[ ]