Академический Документы
Профессиональный Документы
Культура Документы
On
CUSTOMER SATISFACTION
Page 1
YashvantMehata
B.Com( English - III )
Batch- 2011 - 2012
R.A. College WashimTq. Dist.Washim
Page 2
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 , Branch Manager and
. (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. (HOD), who hassincerely 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.
Page 3
CONTENTS
Sr. No.
Subject Covered
Page No.
1
Page 4
Acknowledgements
2
Executive Summary
3
My Project Objective
4
Banking Structure in India
5
Introduction
6
History of Banking in India
Bank In India
8
Fact Files of Banks in India
9
Indian Banking Industries
10
ICICI Bank
Page 5
11
ICICI Group
12
Technology used in ICICI Bank
13
Product and Customer segments
11
Product
14
SWOT Analysis
15
Research Methodology
16
Company Efforts To Ensure Customer Satisfaction
Page 6
17
Data Analysis
18
19
SWOT Analysis(comparative)
20
Questionnaire
21
Finding
22
Suggestion
23
Conclusion
24
Bibliography
Page 7
EXECUTIVE SUMMARY
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--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 80s 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.
R.A College Washim
Page 8
Research objective
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.
Page 9
Private sector
Banks
Foreign Banks
in India
Regional Rural
Bank
(28)
(27)
(29)
(102)
Nationalized
Bank
Other Public
Sector Banks
(IDBI)
SBI and its
Associates
Old Private
Banks
New Private
Banks
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 newprivate sectorbanks.Thesenew bankshave brought in state-of-the-art
technology andaggressively marketed their products. The Public sector banks are
facing a stiff competition from thenew private sector banks.
Page 10
The banks which have been setup in the 1990s under the guidelinesof the
Narasimham Committee are referred to as NEW PRIVATE SECTOR BANKS.
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.
R.A College Washim
Page 11
Page 12
Page 13
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 days 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.
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.
R.A College Washim
Page 14
The banks and its relation with the customers, their mode of operation, the names
of banks under different groups and other such useful informations 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
IndusInd Bank
Andhra Bank
Allahabad Bank
Bank of Baroda
Karnataka Bank
Bank of India
KarurVysya Bank
Bank of Maharastra
Bank of Punjab
Bank of Rajasthan
Bank of Ceylon
Scotia Bank
Canara Bank
Centurion Bank
Corporation Bank
Page 16
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
List of State Bank of India and its subsidiary, a Public Sector Banks
State Bank of India
o State Bank of Bikaner & Jaipur
o State Bank of Hyderabad
o State Bank of Indore
o State Bank of Mysore
o State Bank of Saurastra
Page 17
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.
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.
Page 18
middle class,
and
Page 19
class,
banking. Players
are becoming
Banks are
and acquisitions to
take
advantage of
regulation.Indian banking
industry assets are expected to reach US$1 trillion by 2010 and are poised to
receive a greater infusion of foreign capital, says PrathimaRajan, analyst in
Celent's banking group and author of the report. The banking industry should
focus on having a small number of large players that can compete globally rather
than having a large number of fragmented players."
Page 20
Type
Founded
Headquarters
Key people
Industry
Products
Revenue
Total assets
BandraKurla
Mumbai, India
N Vaghul, K.V. Kamath,
ChandaKochhar, V
Vaidyanathan, MadhabiPuri
Banking
Insurance
Capital Markets and allied
industries
Loans, Credit Cards, Savings,
Investment vehicles,
Insurance etc.
USD 5.79 billion
Rs. 3,997.95 billion (US$ 100
billion) at March 31, 2008.
OVERVIEW
Page 21
Page 22
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.
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, worldclass
service.
Expand the frontiers of our business globally.
Play a proactive role in the full realisation of Indias potential.
maintain a healthy financial profile and diversify our earnings across
businesses and
geographies.
R.A College Washim
Page 23
Page 24
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 the Housing Development Finance Corporation, a premier
housing finance company (set up in 1977) of India. HDFC Bank has 1,500
R.A College Washim
Page 25
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. 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
R.A College Washim
Page 26
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
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
R.A College Washim
Page 27
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.
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, worldclassservice.
expand the frontiers of our business globally.
play a proactive role in the full realisation of Indias potential.
maintain a healthy financial profile and diversify our earnings across
businesses andgeographies.
maintain high standards of governance and ethics.
contribute positively to the various countries and markets in which we
operate.
create value for our stakeholders.
CUSTOMER
ICICI bank targets all segment of customer with various types of products and
services. I interacted with aa 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 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.
R.A College Washim
Page 28
"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 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;
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.
Page 29
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 its a lifetime experience to work
with such a behemoth organization. It might not be the best paymaster but it
definitely 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.
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
R.A College Washim
Page 30
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.
General Ledger
Accounts Payable
Accounts Receivable
Purchasing
Asset Management
Project Costing
Human Resources
Payroll
Benefits
Compensation
Page 31
Board of Directors
The ICICI Prudential Life Insurance Company Limited Board comprises reputed
people from the finance industry both from India and abroad.
Shri K.V. Kamath, Chairman
Mr. Mark Tucker
Smt. Lalita D. Gupte
Mr. Danny Bardin
Mrs. KalpanaMorparia
Shri M.P. Modi
Mr. John Caouette
ShriS.P.Subhedar, (Alternate Director to Mr. Danny Bardin)
Mr. Derek Stott, (Alternate Director to Mr. Mark Tucker)
Smt. Shikha Sharma, Managing Director
Management Team
Ms. Shikha Sharma, Managing Director
Mr. Kevin Wright, Executive Vice President - Sales & Distribution
Ms. MadhaviSoman, Chief - Strategic Initiatives
Mr. V. Rajagopalan, Appointed Actuary
Mr. SandeepBatra, Chief Financial Officer & Company Secretary
Mr. Saugata Gupta, Chief - Marketing & Service
Mr. Shubhro J. Mitra, Chief - Human Resources
Corporate Office:
ICCI Prulife Towers,
1089, AppasahabMaratheMarg,
Prabhadevi,
Mumbai 400 025.
Telephone Number: 022-462 1600
Website : www.iciciprulife.com
ICICI Lombard General Insurance Company
ICICI Lombard General Insurance Company Limited is a 74:26 joint venture
between ICICI Bank Limited and Canada based 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 Investmentmanagement. Lombard Canada Ltd, a group company of Fairfax
R.A College Washim
Page 32
Page 33
Page 34
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 offers Car
Insurance and 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
Plans and 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 with United 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.
Technology
R.A College Washim
Page 35
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 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
R.A College Washim
Page 36
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 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, Indias 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).
Page 37
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.
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 SECURITIES Indias Leading Investment Bank
ICICI Securities Limited is Indias 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.
PRUDENTIAL ICICI
Prudential ICICI Asset Management Company enjoys the strong parentage of
Prudentialplc, one of UK's largest players in the insurance & fund management
R.A College Washim
Page 38
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 Prudentialplc- 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.
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
Page 39
expertise.
The success of the organisation will be founded on its strong focus on values and
clarity of purpose. These include:
Corporate Office:
ICCI Prulife Towers,
1089, AppasahabMaratheMarg,
Prabhadevi,
Mumbai 400 025.
Telephone Number: 022-462 1600
Website : 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
Page 40
Page 41
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 offers Car
Insurance and 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
Plans and Student Medical Plans offered cover medical and non-medical expenses,
including compensation for flights hijacked and pre existing diseases in case of
emergency.
R.A College Washim
Page 42
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 NRI can insure his children/ dependents travelling abroad to study, under the
Student Medical Insurance plan. Likewise, the Home Insurance and Car Insurance
schemes enables an NRI to 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 postpolicy 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.
Technology Used in ICICI Bank
Page 43
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.
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 everyindustries and gives the optimum return from the limited
resources.
Centralized Processing Units
Electronic
Processing
Straight
Through
PERSONAL BANKING
Page 44
Loan Product
Auto Loan
Loan
Against
Security
Loan
Against
Property
Personal loan
Credit card
2-wheeler loan
Commercial
vehicles finance
Home loans
Retail business
banking
Tractor loan
Working Capital
Finance
Construction
Equipment
Finance
Health
Care
Finance
Education Loan
Gold Loan
Deposit Product
Saving a/c
Current a/c
Fixed deposit
Demat a/c
Safe
Deposit
Lockers
PRODUCT
R.A College Washim
Page 45
Mutual Fund
Bonds
Knowledge Centre
Insurance
General and Health
Insurance
Equity
and
Derivatives
Mudra Gold Bar
ICICI Bank offers wide variety of Deposit Products to suit your requirements.
Coupled with convenience of networked branches/ ATMs and facility of Echannels 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.
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
Page 46
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 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
R.A College Washim
Page 47
Page 48
Page 49
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 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
R.A College Washim
Page 50
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.
STRENGHTS
Page 51
1) Online Services: ICICI Bank provides online services of all its 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
Page 52
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.
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
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 4th quadrant so the bank should neglect it.
THREATS
Page 53
Page 54
RESEARCH METHODOLOGY
employed was
Convenience
questionnaires.
Sample Size:
R.A College Washim
Page 55
Sampling. I
administered
the
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 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.
Page 56
Page 57
Page 58
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:
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;
R.A College Washim
Page 59
Page 60
Page 61
10%
15%
Internet Banking
37%
21%
working Hour
Value added
Services
17%
Net Banking
50%
20%
Core Banking
Mobile Banking
Retail Banking
Page 62
20
15
11
10
8
6
5
0
SBI
ICICI
Axis
Hdfc
Others
50
40
43
Customer Having A/C
30
20
10
0
12
10
Saving
Current
Fixed Deposit
Others
5:-How many services offered by your banks have been Used By you?
R.A College Washim
Page 63
47
Customer Using Services
Offered by Their Bank
27
22
19
LI & GI
Awareness
Others; 14%
Adtiesment; 36%
Selling agent; 21%
Friends & Relative; 29%
11%
7% 49%
33%
Page 64
9:-Is ICICI Bank Provide better facilities than SBI & HDFC Bank?
Services
Yes
No
Can`t Say
17%
38%
45%
10:-Do you know what type of value added services provide by ICICI
BANKS?
Page 65
50
40
30
31
20
16
10
31
11
11:-How would you rate product offered ICICI Bank than other?
Rating
Very Good
5
Good
4
Moderate
3
Less
2
Poor
1
Page 66
through Money2India, which offer better foreign exchange rates for lower
amounts compared to other services.
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.
FINDINGS, SUGGESTIONS & CONCLUSION
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.
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.
Page 67
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
provisions and lower taxable rates of Income from this source. Expectations is on
the procyclicalbenefit ,To continue and hence profitability of legacy lending to be
sustained At levels seen earlier.
3. Market related revenues is believed to contribute 14% - 15% to ICICIB's
operating revenues and have boosted its preprovisionRoAA. 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.
Page 68
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
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.
Page 69
Bibliography
www.rbi.org.in
www.moneycontrol.com
www.nseindia.com
www.icicibank.com
www.google.com
Economic times
Business world
Page 70