CHAPTER-II

INDUSTRY PROFILE

&

COMPANY PROFILE

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Evolution

Indian Stock Markets are one of the oldest in Asia. Its history dates back to nearly 200
years ago. The earliest records of security dealings in India are meager and obscure.
The East India Company was the dominant institution in those days and business in its
loan securities used to be transacted towards the close of the eighteenth century.

By 1830's business on corporate stocks and shares in Bank and Cotton presses took
place in Bombay. Though the trading list was broader in 1839, there were only half a
dozen brokers recognized by banks and merchants during 1840 and 1850.

The 1850's witnessed a rapid development of commercial enterprise and brokerage

business attracted many men into the field and by 1860 the number of brokers
increased into 60.

In 1860-61 the American Civil War broke out and cotton supply from United States of
Europe was stopped; thus, the 'Share Mania' in India begun. The number of brokers
increased to about 200 to 250. However, at the end of the American Civil War, in
1865, a disastrous slump began (for example, Bank of Bombay Share which had
touched Rs 2850 could only be sold at Rs. 87).

At the end of the American Civil War, the brokers who thrived out of Civil War in
1874, found a place in a street (now appropriately called as Dalal Street) where they
would conveniently assemble and transact business. In 1887, they formally
established in Bombay, the "Native Share and Stock Brokers' Association" (which is
alternatively known as " The Stock Exchange "). In 1895, the Stock Exchange
acquired a premise in the same street and it was inaugurated in 1899. Thus, the Stock
Exchange at Bombay was consolidated.

Other leading cities in stock market operations

Ahmadabad gained importance next to Bombay with respect to cotton textile industry.
After 1880, many mills originated from Ahmadabad and rapidly forged ahead. As
new mills were floated, the need for a Stock Exchange at Ahmadabad was realized
and in 1894 the brokers formed "The Ahmadabad Share and Stock Brokers'
Association".

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What the cotton textile industry was to Bombay and Ahmadabad, the jute industry
was to Calcutta. Also tea and coal industries were the other major industrial groups in
Calcutta. After the Share Mania in 1861-65, in the 1870's there was a sharp boom in
jute shares, which was followed by a boom in tea shares in the 1880's and 1890's; and
a coal boom between 1904 and 1913. On June 1913, some leading brokers formed
"The Calcutta Stock Exchange Association".

In the beginning of the twentieth century, the industrial revolution was on the way in
India with the Swadeshi Movement; and with the inauguration of the Tata Iron and
Steel Company Limited in 1907, an important stage in industrial advancement under
Indian enterprise was reached.

Indian cotton and jute textiles, steel, sugar, paper and flour mills and all companies
generally enjoyed phenomenal prosperity, due to the First World War.

In 1920, the then demure city of Madras had the maiden thrill of a stock exchange
functioning in its midst, under the name and style of "The Madras Stock Exchange"
with 150 members. However, when boom faded, the number of members stood
reduced from 150 to 3, by 1923, and so it went out of existence.

In 1935, the stock market activity improved, especially in South India where there
was a rapid increase in the number of textile mills and many plantation companies
were floated. In 1937, a stock exchange was once again organized in Madras - Madras
Stock Exchange Association (Pvt) Limited. (In 1957 the name was changed to Madras
Stock Exchange Limited).

Lahore Stock Exchange was formed in 1934 and it had a brief life. It was merged with
the Punjab Stock Exchange Limited, which was incorporated in 1936.

Indian Stock Exchanges - An Umbrella Growth

The Second World War broke out in 1939. It gave a sharp boom which was followed
by a slump. But, in 1943, the situation changed radically, when India was fully
mobilized as a supply base.

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On account of the restrictive controls on cotton, bullion, seeds and other commodities,
those dealing in them found in the stock market as the only outlet for their activities.
They were anxious to join the trade and their number was swelled by numerous
others. Many new associations were constituted for the purpose and Stock Exchanges
in all parts of the country were floated.

The Uttar Pradesh Stock Exchange Limited (1940), Nagpur Stock Exchange Limited
(1940) and Hyderabad Stock Exchange Limited (1944) were incorporated.

In Delhi two stock exchanges - Delhi Stock and Share Brokers' Association Limited
and the Delhi Stocks and Shares Exchange Limited - were floated and later in June
1947, amalgamated into the Delhi Stock Exchnage Association Limited.

Post-independence Scenario

Most of the exchanges suffered almost a total eclipse during depression. Lahore
Exchange was closed during partition of the country and later migrated to Delhi and
merged with Delhi Stock Exchange.

Bangalore Stock Exchange Limited was registered in 1957 and recognized in 1963.

Most of the other exchanges languished till 1957 when they applied to the Central
Government for recognition under the Securities Contracts (Regulation) Act, 1956.
Only Bombay, Calcutta, Madras, Ahmadabad, Delhi, Hyderabad and Indore, the well
established exchanges, were recognized under the Act. Some of the members of the
other Associations were required to be admitted by the recognized stock exchanges on
a concessional basis, but acting on the principle of unitary control, all these pseudo
stock exchanges were refused recognition by the Government of India and they
thereupon ceased to function.

Thus, during early sixties there were eight recognized stock exchanges in India
(mentioned above). The number virtually remained unchanged, for nearly two
decades. During eighties, however, many stock exchanges were established: Cochin
Stock Exchange (1980), Uttar Pradesh Stock Exchange Association Limited (at
Kanpur, 1982), and Pune Stock Exchange Limited (1982), Ludhiana Stock Exchange
Association Limited (1983), Gauhati Stock Exchange Limited (1984), Kanara Stock

4
Exchange Limited (at Mangalore, 1985), Magadh Stock Exchange Association (at
Patna, 1986), Jaipur Stock Exchange Limited (1989), Bhubaneswar Stock Exchange
Association Limited (1989), Saurashtra Kutch Stock Exchange Limited (at Rajkot,
1989), Vadodara Stock Exchange Limited (at Baroda, 1990) and recently established
exchanges - Coimbatore and Meerut. Thus, at present, there are totally twenty one
recognized stock exchanges in India excluding the Over The Counter Exchange of
India Limited (OTCEI) and the National Stock Exchange of India Limited (NSEIL).

The Table given below portrays the overall growth pattern of Indian stock markets
since independence. It is quite evident from the Table that Indian stock markets have
not only grown just in number of exchanges, but also in number of listed companies
and in capital of listed companies. The remarkable growth after 1985 can be clearly
seen from the Table, and this was due to the favouring government policies towards
security market industry.

Trading Pattern of the Indian Stock Market

Trading in Indian stock exchanges are limited to listed securities of public limited
companies. They are broadly divided into two categories, namely, specified securities
(forward list) and non-specified securities (cash list). Equity shares of dividend
paying, growth-oriented companies with a paid-up capital of atleast Rs.50 million and
a market capitalization of atleast Rs.150 million and having more than 20,000
shareholders are, normally, put in the specified group and the balance in non-specified
group.

Two types of transactions can be carried out on the Indian stock exchanges: (a) spot
delivery transactions "for delivery and payment within the time or on the date
stipulated when entering into the contract which shall not be more than 14 days
following the date of the contract" : and (b) forward transactions "delivery and
payment can be extended by further period of 14 days each so that the overall period
does not exceed 90 days from the date of the contract". The latter is permitted only in
the case of specified shares. The brokers who carry over the outstandings pay carry
over charges (cantango or backwardation) which are usually determined by the rates
of interest prevailing.

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A member broker in an Indian stock exchange can act as an agent, buy and sell
securities for his clients on a commission basis and also can act as a trader or dealer as
a principal, buy and sell securities on his own account and risk, in contrast with the
practice prevailing on New York and London Stock Exchanges, where a member can
act as a jobber or a broker only.

The nature of trading on Indian Stock Exchanges are that of age old conventional
style of face-to-face trading with bids and offers being made by open outcry.
However, there is a great amount of effort to modernize the Indian stock exchanges in
the very recent times.

Over The Counter Exchange of India (OTCEI)

The traditional trading mechanism prevailed in the Indian stock markets gave way to
many functional inefficiencies, such as, absence of liquidity, lack of transparency,
unduly long settlement periods and benami transactions, which affected the small
investors to a great extent. To provide improved services to investors, the country's
first ringless, scripless, electronic stock exchange - OTCEI - was created in 1992 by
country's premier financial institutions - Unit Trust of India, Industrial Credit and
Investment Corporation of India, Industrial Development Bank of India, SBI Capital
Markets, Industrial Finance Corporation of India, General Insurance Corporation and
its subsidiaries and CanBank Financial Services.

Trading at OTCEI is done over the centres spread across the country. Securities traded
on the OTCEI are classified into:

 Listed Securities - The shares and debentures of the companies listed on the
OTC can be bought or sold at any OTC counter all over the country and they
should not be listed anywhere else

 Permitted Securities - Certain shares and debentures listed on other exchanges

and units of mutual funds are allowed to be traded

 Initiated debentures - Any equity holding atleast one lakh debentures of a

particular scrip can offer them for trading on the OTC.

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OTC has a unique feature of trading compared to other traditional exchanges. That is,
certificates of listed securities and initiated debentures are not traded at OTC. The
original certificate will be safely with the custodian. But, a counter receipt is
generated out at the counter which substitutes the share certificate and is used for all
transactions.

In the case of permitted securities, the system is similar to a traditional stock

exchange. The difference is that the delivery and payment procedure will be
completed within 14 days.

Compared to the traditional Exchanges, OTC Exchange network has the following
advantages:

 OTCEI has widely dispersed trading mechanism across the country which
provides greater liquidity and lesser risk of intermediary charges.

 Greater transparency and accuracy of prices is obtained due to the screen-

based scripless trading.

 Since the exact price of the transaction is shown on the computer screen, the
investor gets to know the exact price at which s/he is trading.

 Faster settlement and transfer process compared to other exchanges.

 In the case of an OTC issue (new issue), the allotment procedure is completed
in a month and trading commences after a month of the issue closure, whereas
it takes a longer period for the same with respect to other exchanges.

Thus, with the superior trading mechanism coupled with information transparency
investors are gradually becoming aware of the manifold advantages of the OTCEI.

National Stock Exchange (NSE)

With the liberalization of the Indian economy, it was found inevitable to lift the
Indian stock market trading system on par with the international standards. On the
basis of the recommendations of high powered Pherwani Committee, the National
Stock Exchange was incorporated in 1992 by Industrial Development Bank of India,

7
Industrial Credit and Investment Corporation of India, Industrial Finance Corporation
of India, all Insurance Corporations, selected commercial banks and others.

Trading at NSE can be classified under two broad categories:

(a) Wholesale debt market and

(b) Capital market.

Wholesale debt market operations are similar to money market operations -

institutions and corporate bodies enter into high value transactions in financial
instruments such as government securities, treasury bills, public sector unit bonds,
commercial paper, certificate of deposit, etc.

There are two kinds of players in NSE:

(a) trading members and

(b) participants.

Recognized members of NSE are called trading members who trade on behalf of
themselves and their clients. Participants include trading members and large players
like banks who take direct settlement responsibility.

Trading at NSE takes place through a fully automated screen-based trading

mechanism which adopts the principle of an order-driven market. Trading members
can stay at their offices and execute the trading, since they are linked through a
communication network. The prices at which the buyer and seller are willing to
transact will appear on the screen. When the prices match the transaction will be
completed and a confirmation slip will be printed at the office of the trading member.

NSE has several advantages over the traditional trading exchanges. They are as
follows:

 NSE brings an integrated stock market trading network across the nation.

8
  Investors can trade at the same price from anywhere in the country since inter-
market operations are streamlined coupled with the countrywide access to the
securities.

 Delays in communication, late payments and the malpractice’s prevailing in

the traditional trading mechanism can be done away with greater operational
efficiency and informational transparency in the stock market operations, with
the support of total computerized network.

Unless stock markets provide professionalized service, small investors and foreign
investors will not be interested in capital market operations. And capital market being
one of the major source of long-term finance for industrial projects, India cannot
afford to damage the capital market path. In this regard NSE gains vital importance in
the Indian capital market system.

Preamble

Often, in the economic literature we find the terms ‘development’ and ‘growth’ are
used interchangeably. However, there is a difference. Economic growth refers to the
sustained increase in per capita or total income, while the term economic development
implies sustained structural change, including all the complex effects of economic
growth. In other words, growth is associated with free enterprise, where as
development requires some sort of control and regulation of the forces affecting
development. Thus, economic development is a process and growth is a phenomenon.

Economic planning is very critical for a nation, especially a developing country like
India to take the country in the path of economic development to attain economic
growth.

Why Economic Planning for India?

One of the major objective of planning in India is to increase the rate of economic
development, implying that increasing the rate of capital formation by raising the
levels of income, saving and investment. However, increasing the rate of capital
formation in India is beset with a number of difficulties. People are poverty ridden.
Their capacity to save is extremely low due to low levels of income and high

9
propensity to consume. Therefor, the rate of investment is low which leads to capital
deficiency and low productivity. Low productivity means low income and the vicious
circle continues. Thus, to break this vicious economic circle, planning is inevitable for
India.

The market mechanism works imperfectly in developing nations due to the ignorance
and unfamiliarity with it. Therefore, to improve and strengthen market mechanism
planning is very vital. In India, a large portion of the economy is non-monitised; the
product, factors of production, money and capital markets is not organized properly.
Thus the prevailing price mechanism fails to bring about adjustments between
aggregate demand and supply of goods and services. Thus, to improve the economy,
market imperfections has to be removed; available resources has to be mobilized and
utilized efficiently; and structural rigidities has to be overcome. These can be attained
only through planning.

In India, capital is scarce; and unemployment and disguised unemployment is

prevalent. Thus, where capital was being scarce and labour being abundant, providing
useful employment opportunities to an increasing labour force is a difficult exercise.
Only a centralized planning model can solve this macro problem of India.

Further, in a country like India where agricultural dependence is very high, one
cannot ignore this segment in the process of economic development. Therefore, an
economic development model has to consider a balanced approach to link both
agriculture and industry and lead for a paralleled growth. Not to mention, both
agriculture and industry cannot develop without adequate infrastructural facilities
which only the state can provide and this is possible only through a well carved out
planning strategy. The government’s role in providing infrastructure is unavoidable
due to the fact that the role of private sector in infrastructural development of India is
very minimal since these infrastructure projects are considered as unprofitable by the
private sector.

Further, India is a clear case of income disparity. Thus, it is the duty of the state to
reduce the prevailing income inequalities. This is possible only through planning.

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Planning History of India

The development of planning in India began prior to the first Five Year Plan of
independent India, long before independence even. The idea of central directions of
resources to overcome persistent poverty gradually, because one of the main policies
advocated by nationalists early in the century. The Congress Party worked out a
program for economic advancement during the 1920’s, and 1930’s and by the 1938
they formed a National Planning Committee under the chairmanship of future Prime
Minister Nehru. The Committee had little time to do anything but prepare programs
and reports before the Second World War which put an end to it. But it was already
more than an academic exercise remote from administration. Provisional government
had been elected in 1938, and the Congress Party leaders held positions of
responsibility. After the war, the Interim government of the pre-independence years
appointed an Advisory Planning Board. The Board produced a number of somewhat
disconnected Plans itself. But, more important in the long run, it recommended the
appointment of a Planning Commission.

The Planning Commission did not start work properly until 1950. During the first
three years of independent India, the state and economy scarcely had a stable structure
at all, while millions of refugees crossed the newly established borders of India and
Pakistan, and while ex-princely states (over 500 of them) were being merged into
India or Pakistan. The Planning Commission as it now exists, was not set up until the
new India had adopted its Constitution in January 1950.

Objectives of Indian Planning

The Planning Commission was set up the following Directive principles :

 To make an assessment of the material, capital and human resources of the

country, including technical personnel, and investigate the possibilities of
augmenting such of these resources as are found to be deficient in relation to
the nation’s requirement.

 To formulate a plan for the most effective and balanced use of the country’s
resources.

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  Having determined the priorities, to define the stages in which the plan should
be carried out, and propose the allocation of resources for the completion of
each stage.

 To indicate the factors which are tending to retard economic development, and
determine the conditions which, in view of the current social and political
situation, should be established for the successful execution of the Plan.

 To determine the nature of the machinery this will be necessary for securing
the successful implementation of each stage of Plan in all its aspects.

 To appraise from time to time the progress achieved in the execution of each
stage of the Plan and recommend the adjustments of policy and measures that
such appraisals may show to be necessary.

 To make such interim or auxiliary recommendations as appear to it to be

appropriate either for facilitating the discharge of the duties assigned to it or
on a consideration of the prevailing economic conditions, current policies,
measures and development programs; or on an examination of such specific
problems as may be referred to it for advice by Central or State Governments.

The long-term general objectives of Indian Planning are as follows:

 Increasing National Income

 Reducing inequalities in the distribution of income and wealth

 Elimination of poverty

 Providing additional employment; and

 Alleviating bottlenecks in the areas of : agricultural production, manufacturing

capacity for producer’s goods and balance of payments.

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Economic growth, as the primary objective has remained in focus in all Five Year
Plans. Approximately, economic growth has been targeted at a rate of five per cent
per annum. High priority to economic growth in Indian Plans looks very much
justified in view of long period of stagnation during the British rule

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 COMPANY PROFILE

ICICI Prudential Asset Management Company Ltd. is a joint venture between

ICICI Bank, India’s second largest commercial bank & a well-known and trusted
name in the financial services in India, & Prudential Plc, one of the United Kingdom’s
largest players in the financial services sectors.

In a span of over 18 years since inception and just over 18 years of the Joint Venture,
the company has forged a position of preeminence as one of the largest Asset
Management Company’s in the country, contributing significantly towards the growth
of the Indian mutual fund industry.

The company manages significant Mutual Fund Assets under Management (AUM), in
addition to our Portfolio Management Services (PMS) and International Advisory
Mandates for clients across international markets in asset classes like Debt, Equity
and Real Estate with primary focus on risk adjusted returns.

As an Asset Management Company, we have over 18 years of experience and are

currently managing a comprehensive range of schemes of more than 46 Mutual fund
schemes and a wide range of PMS Products for our investors spread across the
country. We service this investor base with our own branch network of around 168
branches and a distribution reach of over 42,000 channel partners.

ICICI Bank is India's second-largest bank with total assets of Rs. 4,736.47 billion
(US$ 93 billion) at March 31, 2017 and profit after tax Rs. 64.65 billion (US$ 1,271
million) for the year ended March 31, 2017. The Bank has a network of 2,890
branches and 15,021 ATMs in India, and has a presence in 19 countries, including
India.

ICICI Bank offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and through its
specialised subsidiaries in the areas of investment banking, life and non-life
insurance, venture capital and asset management.

14
The Bank currently has subsidiaries in the United Kingdom, Russia and Canada,
branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and
Dubai International Finance Centre and representative offices in United Arab
Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our
UK subsidiary has established branches in Belgium and Germany.

ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the
National Stock Exchange of India Limited and its American Depositary Receipts
(ADRs) are listed on the New York Stock Exchange (NYSE).
Corporate Profile
ICICI Bank is India's second-largest bank with total assets of Rs. 3,562.28 billion
(US$ 77 billion) as on December 31, 20018.

Board Members
Mr. K. V. Kamath, Chairman
Mr. Sridar Iyengar
Mr. Homi R. Khusrokhan
Mr. Lakshmi N. Mittal
Mr. Narendra Murkumbi
Dr. Anup K. Pujari
Mr. Anupam Puri
Mr. M.S. Ramachandran
Mr. M.K. Sharma
Mr. V. Sridar
Prof. Marti G. Subrahmanyam
Mr. V. Prem Watsa
Ms. Chanda D. Kochhar,
Managing Director & CEO
Mr. Sandeep Bakhshi,
Deputy Managing Director
Mr. N. S. Kannan,
Executive Director & CFO
Mr. K. Ramkumar,
Executive Director
15
Mr. Sonjoy Chatterjee,
Executive Director

Management ICICI Prudential Asset Management Company(AMC)

Mr.Nimesh Shah- Managing Director & CEO
Mr. B Ramakrishna - Executive Vice President
Mr. Raghav Iyengar - Executive Vice President & Head – Retail & Institutional
Business
Mr. Hemant Agarwal - Head - Operations
Mr. Rahul Rai - Head – Real Estate Business ICICI Prudential Asset Management
Company Limited

Mr. K. V. Kamath is a mechanical engineer and did his management studies from the
Indian Institute of Management, Ahmedabad. He joined ICICI in 1971 and worked in
the areas of project finance, leasing, resources and corporate planning. In 1988, he
joined the Asian Development Bank and spent several years in south-east Asia before
returning to ICICI as its Managing Director & CEO in 1996. He became Managing
Director & CEO of ICICI Bank in 2002 following the merger of ICICI with ICICI
Bank. Under his leadership, the ICICI Group transformed itself into a diversified,
technology-driven financial services group, that has leadership positions across
banking, insurance and asset management in India, and an international presence. He
retired as Managing Director & CEO in April 2014, and took up the position of non-
executive Chairman of ICICI Bank effective May 1, 2014. He was the President of the
Confederation of Indian Industry (CII) for 2013-14. He was awarded the Padma
Bhushan by the President of India in May 2013. He was conferred the Lifetime
Achievement Awards at the Financial Express Best Bank Awards 2013 and the
NDTV Profit Business Leadership Awards 2013; was named 'Businessman of the
Year' by Forbes Asia and The Economic Times' 'Business Leader of the Year' in
2007; Business Standard's "Banker of the Year" and CNBC-TV18's "Outstanding
Business Leader of the Year" in 2006; Business India's "Businessman of the Year" in
2005; and CNBC's "Asian Business Leader of the Year" in 2001. He has been
conferred with an honorary PhD by the Banaras Hindu University. He is a member of
the Board of the Institute of International Finance, a Director on the Board of Infosys

16
Technologies and a member of the Board of Governors of the Indian Institute of
Management, Ahmedabad.

Products

Insurance Solutions for Individuals

ICICI Prudential Life Insurance offers a range of innovative, customer-centric

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Savings & Wealth Creation Solutions

ICICI Pru LifeStage Wealth II is a unit linked insurance plan that offers multiple
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UIN - 155L168V02

ICICI Pru LifeTime Premier is a comprehensive savings plan that offers you a
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ICICI Pru Pinnacle Super is a unit linked insurance plan that gives you the
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ICICI Pru iAssure Single Premium a conventional non-participating single

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17
 ICICI Pru Guaranteed Savings Insurance Plan is a limited pay endowment product
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ICICI Pru Future Secure is a participating endowment life insurance plan that helps
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ICICI Pru Whole Life provides you with a unique double advantage of savings and
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ICICI Pru Save 'n' Protect is plan for those who want to accumulate funds on a
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ICICI Pru CashBak is a single policy that combines the triple benefit of protection,
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Protection Solutions

ICICI Pru iCare is a term insurance plan that you can buy online at your
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ICICI Pru Pure Protect is a flexible and affordable term product, with which you
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ICICI Pru LifeGuard is a protection plan, which offers life cover at low cost. It is
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18
Child Plans

ICICI Pru SmartKid Regular Premium is an endowment regular premium life

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ICICI Pru SmartKid Premier is a ULIP plan which ensures your child’s education
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performance of the underlying fund performance. UIN - 155L170V01

Retirement Solutions

ICICI Pru Immediate Annuity is a single premium annuity product that guarantees
income for life at the time of retirement. It offers the benefit of 5 payout options. UIN
- 155N014V06

Health Solutions

ICICI Pru Hospital Care II is a family floater plan covering your spouse and
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ICICI Pru Crisis Cover is a product that will provide long-term coverage against 35
critical illnesses, total and permanent disability, and death. UIN - 155N072V01

ICICI Pru Health Saver is a whole of life comprehensive health insurance policy
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19
Group Insurance Solutions

ICICI Prudential also offers Group Insurance Solutions for companies seeking to
enhance benefits to their employees.

Group Gratuity Plan: ICICI Prudential Life's group gratuity plan helps employers
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Group Leave encashment Plan: ICICI Prudential Life’s Group offers a market
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Group Term Insurance Plan: ICICI Prudential Life's flexible group term is a one-
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Group Term in lieu of EDLI Scheme: ICICI Prudential's Group Insurance Scheme
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Credit Assure With Credit Assure, we offer an innovative and affordable term life
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Flexible Rider Options

ICICI Prudential Life offers flexible riders, which can be added to the basic policy at
a marginal cost, depending on the specific needs of the customer.

20
 Accident & disability benefit: If death occurs as the result of an accident during the
term of the policy, the beneficiary receives an additional amount equal to the rider
sum assured under the policy. If an accident results in total and permanent disability,
15% of rider sum assured will be paid each year, from the end of the 1st year after the
disability date for the remainder of the base policy term or 15 years, whichever is
lesser.

Critical illness benefit: Critical Illness Benefit Rider provides protection against 9
critical illnesses to the policyholder when attached to the basic plan.

Income Benefit Rider: In case of death of the life assured during the term of the
policy, 15% of the rider sum assured is paid annually to the beneficiary, on each
policy anniversary till maturity of the rider. Income Benefit rider is available with
Smart Kid Child Plans. Premiums paid under this rider are eligible for tax benefits
under Section 80C.

Waiver of Premium Rider (WOP): On total and permanent disability due to an

accident, all future premiums for both the base policy and rider(s) will be waived till
the end of the term of the rider or death of the life assured, if earlier.

Waiver of Premium Rider on Critical Illness Rider: This rider waives all your
future premiums of your base policy on occurrence of specified 20 Critical Illnesses.
This ensures that your policy benefits continue as planned.

Awards:

 ICICI Bank has been adjudged winner at the Express IT Innovation Award
under the Large Enterprise category.
 ICICI Bank wins awards under the categories of 'Most Innovative Bank' and
'Most Innovative use of Multi-Channel Infrastructure' at the Indian Bank's
Association's BANCON Innovation Awards 2018.
 ICICI Bank won the Asian Banking & Finance Retail Banking Award 2018
for the Online Banking Initiative of the Year
 ICICI Bank won an award under the Social Media category at the
InformationWeek EDGE Award

21
 Ms. Chanda Kochhar, MD and CEO has been awarded as the Best CEO -
Private Sector category at the Forbes India Leadership Awards 2018
 ICICI Prudential Life Insurance has been pronounced winner in the 2nd
Excellence Awards and Recongnition for Shared Services, 2017. We won the
award in the category - Shared Services in India - Insurance Domain.
 These awards have been instituted by All India Management Association
(AIMA) & Delhi Management Association (DMA), in collaboration with
Rvalue Consulting as knowledge partners, to honour,recognize & promote
trasformative strategies for shared services.
 Ms. Chanda Kochhar, Managing Director & CEO was awarded the "CNBC
Asia India Business Leader Of The Year Award". She also received the
"CNBC Asia's CSR Award 2016"
 For the third year in a row ICICI Bank has won The Asset Triple A Country
Awards for Best Domestic Bank in India
 ICICI Bank won the Most Admired Knowledge Enterprises (MAKE) India
2014 Award. ICICI Bank won the first place in "Maximizing Enterprise
Intellectual Capital" category, October 28, 2014
 Ms Chanda Kochhar, MD and CEO was awarded with the Indian Business
Women Leadership Award at NDTV Profit Business Leadership Awards ,
October 26, 2014.
 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, 2014
 Ms. Chanda Kochhar, Managing Director & CEO ranked in the top 20 of the
World's 150 Most Powerful Women list compiled by Forbes, August 2014
 Financial Express at its FE India's Best Banks Awards, honoured Mr. K.V.
Kamath, Chairman with the Lifetime Achievement Award , July 25, 2014
 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 2014
 ICICI bank won in three categories at World finance Banking awards on June
16, 2014
o Best NRI Services bank
22
 o Excellence in Private Banking, APAC Region
o 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, 2014 in Hyderabad.
 ICICI Bank's b2 branchfree banking was adjudged "Best E-Banking Project
Implementation Award 2013" by The Asian Banker, on May 16, 2014 at the
China World Hotel in Beijing.
 ICICI Bank bags the "Best bank in SME financing (Private Sector)" at the
Dun & Bradstreet Banking awards 2014.
 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
 ICICI Bank Germany won the yearly banking test of the investor magazine
€uro in the "call money"category.
 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's Organisational Excellence Group was recently awarded ISO
9001:2013 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 2014:
o Best Transaction Bank in India
o Best Trade Finance Bank in India
o Best Cash Management Bank in India
o Best Domestic Custodian in India
23
 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.

ICICI Foundation for Inclusive Growth (ICICI Foundation) was founded by the ICICI
Group in early 2013 to give focus to its efforts to promote inclusive growth amongst
low-income Indian households.

We believe our fundamental challenge is to create a “just” society – one where

everyone has equal opportunity to develop and grow. Towards this end, ICICI
Foundation is committed to making India’s economic growth more inclusive,
allowing every individual to participate in and benefit from the growth process.

We hold a set of core beliefs and values that defines our pathway towards inclusive
growth and guides our five strategic partnerships.
Vision
Our vision is a world free of poverty in which every individual has the freedom and
power to create and sustain a just society in which to live.
Mission
Our mission is to create and support strong independent organisations which work
towards empowering the poor to participate in and benefit from the Indian growth
process.
As a key partner in India's economic growth for more than five decades, the ICICI
Group endeavours to promote growth in all sectors of the nation ’s economy. To give
focus to its efforts to promote inclusive growth amongst low-income Indian
households, the ICICI Group founded ICICI Foundation for Inclusive Growth in
January 2015.

24
The foundations of ICICI Group’s approach towards human and social development
were established with the Social Initiatives Group (SIG), a non-profit resource group
within ICICI Bank, in 2000.
ICICI Foundation for Inclusive Growth (ICICI Foundation) has been set up as a
public charitable trust registered at Chennai vide registration of the Trust Deed with
the Sub-Registrar’s Office at Chennai on January 04, 2015.

The application for registration of the Foundation under section 17AA of the Income
tax Act, 1961 (“the Act”) was filed on February 7, 2013 and the application under
section 80G of the Act was filed on February 14, 2013. Subsequently, ICICI
Foundation was registered as a “PUBLIC CHARITABLE TRUST” under Section
17AA of the Act with effect from February 7, 2013. Further, ICICI Foundation
received approval under Section 80G(5)(vi) of the Act on March 19, 2013. This
approval is valid in respect of donation received by ICICI Foundation from February
14, 2013 to March 31, 2014. Accordingly, ICICI Bank and Group Companies will be
eligible to get a deduction under section 80G on donations made during this period.
ICICI Foundation has also obtained its Permanent Account Number (PAN) and Tax
deduction Account Number (TAN).
ICICI Group Corporate Social Responsibility Programmers
Read to Lead
Read to Lead is an initiative of ICICI Bank to facilitate elementary education for
disadvantaged children in the age group of 6-18 years. An amount of Rs.25.00 million
has thus far been disbursed to 150,000 children through 30 NGOs. The balance
amount of Rs.75.00 million is planned to be disbursed during the period 2014-2015.
MITRA (ICICI Fellows Programme)
MITRA is an affiliate of CSO Partners that is focused on addressing the challenge of
human resources for civil society organisations (CSOs). In partnership with CSO
Partners and MITRA, ICICI Foundation proposes to launch an ICICI Fellows
Programme. An amount of Rs.55.00 million has been disbursed to MITRA for
developing and launching the programme over the period 2014-2015.
CARE (Disaster Management Unit)
A grant of Rs.5.00 million has been given to CARE in India to enable it to prepare for
any future disasters that may strike and respond immediately with the required relief
efforts.
25
Rang De (Micro Enterprise Development)
Rang De, an affiliate of CSO Partners, has partnered with ICICI Venture to roll out
funds for micro enterprise development in rural and semi-urban locations. The amount
of Rs.25.00 million that has been disbursed to them will support micro enterprises to
the extent of Rs.15.00 million and the balance amount of Rs.15.00 million will go
towards meeting their expenses to build the platform.

26
 CHAPTER-III
REVIEW OF LITERATURE

27
CUSTOMER RELATIONSHIP MANAGEMENT

CRM:
CRM stands for Customer Relationship Management. It is a strategy used to
learn more about customers' needs and behaviors in order to develop stronger
relationships with them. After all, good customer relationships are at the heart of
business success. There are many technological components to CRM, but thinking
about CRM in primarily technological terms is a mistake. The more useful way to
think about CRM is as a process that will help bring together lots of pieces of
information about customers, sales, marketing effectiveness, responsiveness and
market trends.

Goals of CRM:

The idea of CRM is that it helps businesses use technology and human resources
to gain insight into the behavior of customers and the value of those customers. If it
works as hoped, a business can:

 Provide better customer service

 Make call centers more efficient

 Cross sell products more effectively

 Help sales staff close deals faster

 Simplify marketing and sales processes

 Discover new customers

 Increase customer revenues

28
 It doesn't happen by simply buying software and installing it. For CRM to be truly
effective an organization must first decide what kind of customer information it is
looking for and it must decide what it intends to do with that information. For
example, many financial institutions keep track of customers' life stages in order to
market appropriate banking products like mortgages or IRAs to them at the right time
to fit their needs.

Next, the organization must look into all of the different ways information
about customers comes into a business, where and how this data is stored and how it
is currently used. One company, for instance, may interact with customers in a myriad
of different ways including mail campaigns, Web sites, brick-and-mortar

stores, call centers, mobile sales force staff and marketing and advertising efforts.
Solid CRM systems

Link up each of these points. This collected data flows between operational
systems (like sales and inventory systems) and analytical systems that can help sort
through these records for patterns. Company analysts can then comb through the data
to obtain a holistic view of each customer and pinpoint areas where better services are
needed. For example, if someone has a mortgage, a business loan, an IRA and a large
commercial checking account with one bank, it behooves the bank to treat this person
well each time it has any contact with him or her.

Need for a CRM project:

Not really. But one way to assess the need for a CRM project is to count the
channels a customer can use to access the company. The more channels you have, the
greater need there is for the type of single centralized customer view a CRM system
can provide.

How long will it take to get CRM in place

A bit longer than many software salespeople will lead you to think. Some
vendors even claim their CRM "solutions" can be installed and working in less than a
week. Packages like those are not very helpful in the long run because they don't
provide the cross-divisional and holistic customer view needed. The time it takes to

29
put together a well-conceived CRM project depends on the complexity of the project
and its components.

CRM cost:

A recent (2001) survey of more than 1,600 business and IT professionals,

conducted by The Data Warehousing Institute found that close to 50% had CRM
project budgets of less than $500,000. That would appear to indicate that CRM
doesn't have to be a budget-buster. However, the same survey showed a handful of
respondents with CRM project budgets of over $15 million.

What are some examples of the types of data CRM projects should be collecting?

 Responses to campaigns

 Shipping and fulfillment dates

 Sales and purchase data

 Account information

 Web registration data

 Service and support records

30
  Demographic data
 Web sales data

Customer relationship management is a broadly recognized, widely-implemented

strategy for managing and nurturing a company’s interactions with clients and sales
prospects. It involves using technology to organize, automate, and synchronize
business processes—principally sales activities, but also those for marketing,
customer service, and technical support. The overall goals are to find, attract, and win
new clients, nurture and retain those the company already has, entice former clients
back into the fold, and reduce the costs of marketing and client service. Once simply a
label for a category of software tools, today, it generally denotes a company-wide
business strategy embracing all client-facing departments and even beyond. When an
implementation is effective, people, processes, and technology work in synergy to
increase profitability, and reduce operational costs.

Benefits

These tools have been shown to help companies attain these objectives:

 Streamlined sales and marketing processes

 Higher sales productivity
 Added cross-selling and up-selling opportunities
 Improved service, loyalty, and retention
 Increased call center efficiency
 Higher close rates
 Better profiling and targeting
 Reduced expenses
 Increased market share
 Higher overall profitability
 Marginal costing
 Creates communication

31
Challenges

Tools and workflows can be complex to implement, especially for large enterprises.
Previously these tools were generally limited to contact management: monitoring and
recording interactions and communications. Software solutions then expanded to
embrace deal tracking, territories, opportunities, and at the sales pipeline itself. Next
came the advent of tools for other client-facing business functions, as described
below. These technologies have been, and still are, offered as on-premises software
that companies purchase and run on their own IT infrastructure. Perhaps the most
notable trend has been the growth of tools delivered via the Web, also known as cloud
computing and software as a service (SaaS). In contrast with traditional on-premises
software, cloud-computing applications are sold by subscription, accessed via a secure
Internet connection, and displayed on a Web browser. Companies don’t incur the
initial capital expense of purchasing software; neither must they buy and maintain IT
hardware to run it on.

Despite all this, many companies are still not fully leveraging these tools and services
to align marketing, sales, and service to best serve the enterprise. Often,
implementations are fragmented; isolated initiatives by individual departments to
address their own needs. Systems that start disunited usually stay that way: Siloed
thinking and decision processes frequently lead to separate and incompatible systems,
and dysfunctional processes.

Types/variations

Sales Force Automation

A sales force automation (SFA) system provides an array of capabilities to streamline

all phases of the sales process, minimizing the time that sales representatives need to
spend on manual data entry and administration. This allows them to successfully
pursue more clients in a shorter amount of time than would otherwise be possible. At
the heart of SFA is a contact management system for tracking and recording every
stage in the sales process for each prospective client, from initial contact to final
disposition. Many SFA applications also include insights into opportunities,
territories, sales forecasts and workflow automation, quote generation, and product

32
knowledge. Newly-emerged priorities are modules for Web 2.0 e-commerce and
pricing.

Marketing

Systems for marketing (also known as marketing automation) help the enterprise
identify and target its best clients and generate qualified leads for the sales team. A
key marketing capability is tracking and measuring multichannel campaigns,
including email, search, social media, and direct mail. Metrics monitored include
clicks, responses, leads, deals, and revenue. As marketing departments are
increasingly obliged to demonstrate revenue impact, today’s systems typically include
features for measuring the ROI of campaigns.

Customer Service and Support

Recognizing that service is an important differentiator, organizations are increasingly

turning to technology platforms to help them improve their clients’ experience while
aiming to increase efficiency and minimize costs. Even so, a 2014 study revealed that
only 39% of corporate executives believe their employees have the right tools and
authority to solve client problems. “The core for these applications has been and still
is comprehensive call center solutions, including such features as intelligent call
routing, computer telephone integration (CTI), and escalation capabilities.

Analytics

Relevant analytics capabilities are often interwoven into applications for sales,
marketing, and service. These features can be complemented and augmented with
links to separate, purpose-built applications for analytics and business intelligence.
Sales analytics let companies monitor and understand client actions and preferences,
through sales forecasting, data quality, and dashboards that graphically display key
performance indicators (KPIs).

Marketing applications generally come with predictive analytics to improve

segmentation and targeting, and features for measuring the effectiveness of online,
offline, and search marketing campaign Web analytics have evolved significantly
from their starting point of merely tracking mouse clicks on Web sites. By evaluating

33
“buy signals,” marketers can see which prospects are most likely to transact and also
identify those who are bogged down in a sales process and need assistance. Marketing
and finance personnel also use analytics to assess the value of multi-faceted programs
as a whole.

These types of analytics are increasing in popularity as companies demand greater

visibility into the performance of call centers and other support channels, in order to
correct problems before they affect satisfaction levels. Support-focused applications
typically include dashboards similar to those for sales, plus capabilities to measure
and analyze response times, service quality, agent performance, and the frequency of
various issues.

Integrated/Collaborative

Departments within enterprises—especially large enterprises—tend to function in

their own little worlds. Traditionally, inter-departmental interaction and collaboration
have been infrequent and rivalries not uncommon. More recently, the development
and adoption of the tools and services has fostered greater fluidity and cooperation
among sales, service, and marketing. This finds expression in the concept of
collaborative systems which uses technology to build bridges between departments.

For example, feedback from a technical support center can enlighten marketers about
specific services and product features clients are asking for. Reps, in their turn, want
to be able to pursue these opportunities without the time-wasting burden of re-
entering records and contact data into a separate SFA system. Conversely, lack of
integration can have negative consequences: system isn’t adopted and integrated
among all departments, several sources might contact the same clients for an identical
purpose. Owing to these factors, many of the top-rated and most popular products
come as integrated suites.

Small Business

Basic client service can be accomplished by a contact manager system, an integrated

solution that lets organizations and individuals efficiently track and record
interactions, including emails, documents, jobs, faxes, scheduling, and more. This

34
kind of solution is gaining traction with even very small businesses, thanks to the ease
and time savings of handling client contact through a centralized application rather
than several different pieces of software, each with its own data collection system. In
contrast these tools usually focus on accounts rather than individual contacts. They
also generally include opportunity insight for tracking sales pipelines plus added
functionality for marketing and service. As with larger enterprises, small businesses
are finding value in online solutions, especially for mobile and telecommuting
workers.

Social Media

Social media sites like Twitter and Facebook are greatly amplifying the voice of
people in the marketplace, and are predicted to have profound and far-reaching effects
on the ways companies manage their clients. This is because people are using these
social media sites to share opinions and experiences on companies, products, and
services. As social media isn’t moderated or censored, individuals can say anything
they want about a company or brand, whether pro or con.

Increasingly, companies are looking to gain access to these conversations and take
part in the dialogue. More than a few systems are now integrating to social
networking sites. Social media promoters cite a number of business advantages, such
as using online communities as a source of high-quality leads and a vehicle for crowd
sourcing solutions to client-support problems. Companies can also leverage client
stated habits and preferences to personalize and even “hyper-target” their sales and
marketing communications.

Some analysts take the view that business-to-business marketers should proceed
cautiously when weaving social media into their business processes. These observers
recommend careful market research to determine if and where the phenomenon can
provide measurable benefits for client interactions, sales, and support.

Non-profit and Membership-based

Systems for non-profit and membership-based organizations help track constituents

and their involvement in the organization. Capabilities typically include tracking the

35
following: fund-raising, demographics, membership levels, membership directories,
volunteering and communications with individuals.

Many include tools for identifying potential donors based on previous donations and
participation. In light of the growth of social networking tools, there may be some
overlap between social/community driven tools and non-profit/membership tools.

36
Strategy

Choosing and implementing a system is a major undertaking. For enterprises of any

appreciable size, a complete and detailed plan is required to obtain the funding,
resources, and company-wide support that can make the initiative successful. Benefits
must be defined, risks assessed, and cost quantified in three general areas:

 Processes: Though these systems have many technological components,

business processes lie at its core. It can be seen as a more client-centric way of
doing business, enabled by technology that consolidates and intelligently
distributes pertinent information about clients, sales, marketing effectiveness,
responsiveness, and market trends. Therefore, before choosing a technology
platform, a company needs to analyze its business workflows and processes;
some will likely need re-engineering to better serve the overall goal of
winning and satisfying clients. Moreover, planners need to determine the types
of client information that are most relevant, and how best to employ them.

 People: For an initiative to be effective, an organization must convince its staff

that change is good and that the new technology and workflows will benefit
employees as well as clients. Senior executives need to be strong and visible
advocates who can clearly state and support the case for change.
Collaboration, teamwork, and two-way communication should be encouraged
across hierarchical boundaries, especially with respect to process
improvement.

 Technology: In evaluating technology, key factors include alignment with the

company’s business process strategy and goals; the ability to deliver the right
data to the right employees; and sufficient ease of use that users won’t balk.
Platform selection is best undertaken by a carefully chosen group of
executives who understand the business processes to be automated as well as
the various software issues. Depending upon the size of the company and the
breadth of data, choosing an application can take anywhere from a few weeks
to a year or more.

37
Implementation

Implementation Issues

Dramatic increases in revenue, higher rates of client satisfaction, and significant

savings in operating costs are some of the benefits to an enterprise. Proponents
emphasize that technology should be implemented only in the context of careful
strategic and operational planning. Implementations almost invariably fall short when
one or more facets of this prescription are ignored:

 Poor planning: Initiatives can easily fail when efforts are limited to choosing
and deploying software, without an accompanying rationale, context, and
support for the workforce. In other instances, enterprises simply automate
flawed client-facing processes rather than redesign them according to best
practices.

 Poor integration: For many companies, integrations are piecemeal initiatives

that address a glaring need: improving a particular client-facing process or two
or automating a favored sales or client support channel. Such “point solutions”
offer little or no integration or alignment with a company’s overall strategy.
They offer a less than complete client view and often lead to unsatisfactory
user experiences.

 Toward a solution: overcoming siloed thinking. Experts advise organizations

to recognize the immense value of integrating their client-facing operations. In
this view, internally-focused, department-centric views should be discarded in
favour of reorienting processes toward information-sharing across marketing,
sales, and service. For example, sales representatives need to know about
current issues and relevant marketing promotions before attempting to cross-
sell to a specific client. Marketing staff should be able to leverage client
information from sales and service to better target campaigns and offers. And
support agents require quick and complete access to a client’s sales and
service history.

38
Adoption Issues

Historically, the landscape is littered with instances of low adoption rates. In 2003, a
Gartner report estimated that more than $1 billion had been spent on software that
wasn’t being used. More recent research indicates that the problem, while perhaps less
severe, is a long way from being solved. According to a CSO Insights less than 40
percent of 1,275 participating companies had end-user adoption rates above 90
percent.

In a 2007 survey from the U.K., four-fifths of senior executives reported that their
biggest challenge is getting their staff to use the systems they’d installed. Further, 43
percent of respondents said they use less than half the functionality of their existing
system; 72 percent indicated they’d trade functionality for ease of use; 51 percent
cited data synchronization as a major issue; and 67 percent said that finding time to
evaluate systems was a major problem. With expenditures expected to exceed $16
billion in 2015, enterprises need to address and overcome persistent adoption
challenges. Specialists offer these recommendations for boosting adoptions rates and
coaxing users to blend these tools into their daily workflow:

 Choose a system that’s easy to use: All solutions are not created equal. Some
vendors offer more user-friendly applications than others, and simplicity
should be as important a decision factor as functionality.

 Choose the right capabilities: Employees need to know that time invested in
learning and usage will yield personal advantages. If not, they will work
around or ignore the system.

 Provide training: Changing the way people work is no small task, and help is
usually a requirement. Even with today’s more usable systems, many staffers
still need assistance with learning and adoption. Provide consistent support.
Prompt, expert, always-accessible technical support goes a long way to
facilitate use and confidence with a new system

39
Successful CRM implantation

 Break your CRM project down into manageable pieces by setting up pilot
programs and short-term milestones.

 Starting with a pilot project that incorporates all the necessary departments
and groups that gets projects rolling quickly but is small enough and flexible
enough to allow tinkering along the way.

 Make sure your CRM plans include a scalable architecture framework.

 Don't underestimate how much data you might collect (there will be LOTS)
and make sure that if you need to expand systems you'll be able to.

 Be thoughtful about what data is collected and stored. The impulse will be to
grab and then store EVERY piece of data you can, but there is often no reason
to store data. Storing useless data wastes time and money.

 Recognize the individuality of customers and respond appropriately. A CRM

system should, for example, have built-in pricing flexibility.

CRM project to run:

The biggest returns come from aligning business, CRM and IT strategies
across all departments and not just leaving it for one group to run.

CRM projects to fail:

Many things from the beginning, lack of a communication between everyone

in the customer relationship chain can lead to an incomplete picture of the customer.
Poor communication can lead to technology being implemented without proper
support or buy-in from users.

For example, if the sales force isn't completely sold on the system's benefits,
they may not input the kind of demographic data that is essential to the program's

40
success. One Fortune 500 company is on its fourth try at a CRM implementation,
primarily because its sale force resisted all the previous efforts to share customer data.

15 Tips for implementing customer self-service

 Learn everything about your customers.

 Conduct focus groups to ensure that they want self-service.

 Define clear business goals.

 Evaluate the technology for its technical and financial merits.

 Does it match your customer base? Will it boost profitability?

 Work as a team. Have customer support, IT and other departments

involved every step of the way.

 Offer training to employees.

 Expect this to be an iterative process that requires making changes as

you learn more about your customers.

 Develop an effective way to measure results.

 Under promise and over deliver.

Customer relationship management is a business strategy to select and manage

the most valuable customer relationships. CRM requires a customer-centric business
philosophy and culture to support effective marketing, sales, and service processes.
CRM applications can enable effective customer relationship management, provided
that an enterprise has the right leadership, strategy, and culture.” -The CRM Primer,
www.crmguru.com

41
 Benefits of a CRM program

Cultural changes

The four phases of implementation

a. Research & Best practices: Ben

b. Casino case: Jason

IT’s role in CRM: Improved customer retention Greater retention results in a
larger future customer base CRM’s relation to the supply chain Conclusion &
Discussion

Benefits of CRM:

Improved customer retention

Purchase amount increases over time

– Average of 8%/year in the insurance industry

Reduction in costs

– Order processing
– Short-term acquisition costs
– Customer referrals

On the “gray markets”

– Often harmful to profits

– Frequently used to level inventories 2-way communications
– Improves customer satisfaction
–

42
Impact
Cultural changes:

Top executives must drive the initiative

– Shift from product orientation to customer

Shift in marketing type

– Away from mass, towards personal “1:1”
Change in attitude at all levels

– Compensation system must change to reinforce new behaviors

New positions or teams should be formed

Pre-implementation:

Classify customers based on diversity of value and needs

Classify customers based on diversity of value and needs

Determine who the customers are
– Wal-Mart, or Jimmy Joe-Bob?

Business categories Consumer categories

Identification Identification
Customer Rating Customer Rating
Background Background
Presale Communication Presale Communication
Decision makers Purchase behavior
Decision making Post purchase behavior
Influences Predicted behavior
Post purchase behavior Creditworthiness

43
Channels Attitudes and perceptions
Pricing
Predicted Behavior
Creditworthiness
Relevant information

– Don’t ask a customer the same thing more than once

– Interact in the medium of the customer’s choice

– When engaging in an interaction, start with the customer, not the

product

– Make the interactions personal and personalized

– Ensure that your interactions with customers are always welcomed

– Ensure that they are immediately identified and treated appropriately

– Protect the customer’s privacy

– Invite dialogue by printing toll-free numbers and web-site URLs on

everything

– Ensure that the customer can see the value from each interaction.
Deliver information or value that reflects what has been learned

– Be sensitive to the customer’s time. Don’t try to learn everything

about a customer at once.

44
IT’s role in CRM:

Three general types of e CRM packages

– Marketing Automation Systems (MAS)

» Customer database creation
» Analysis of customer attributes
» Automate several marketing functions

– Sales Force Automation (SFA)

» Intended to automate many functions performed by salespeople
» If completely successful, it will eliminate the “personal touch”
.
E CRM package types:

– Customer Service Automation systems

» Augments call center personnel
» Some can respond to e-mails on their own
» Ties-in to existing company software, including other eCRM
packages (generally…)

Selecting the right CRM packages

– Step 1: Size the package to your firm

– Step 2: Gather as much information on every package sized

appropriately

– Step 3: Using a standard formula, evaluate the packages and make a

choice

CRM and ERP

45
 – Determine if a package can be tied-in to the enterprise’s ERP system
before making a purchase decision

– Inventory, order processing, and accounts receivable features can be

used to augment the CRM program

– Goal: establish a closed-loop e CRM solution

Data mining tools:

– Market basket analysis and automatic cluster generation

– Decision trees and memory-based reasoning

– Neural net systems

CRM in the Supply Chain

Goals of Supply Chain Management:

– Reduce uncertainty and risks in supply chain

– Positively affect inventory levels, cycle time, processes, and end-
customer service levels

Customer Relationship Management

– Useful for forecasting and planning

– Improves customer service levels

CRM across Company Functions

Marketing – Account management expertise

46
 Research & Development – Specifications that define requirements

Logistics – Knowledge of customer service requirements

Production – Manufacturing strategy

Purchasing – Sourcing strategy

Finance – Customer Profitability Reports

Customer Relationship Management

Wrap-Up

Your customers improves profits

Focus on the best, treat mid-range as group, and Knowing discourage bottom-feeders
Customize product and service to retain good customers
Give CRM time to pay off; a good CRM program will be worth the investment

47
 CHAPTER-IV

DATA ANALYSIS & INTERPRETION

48
COMPONENTIAL ANALYSIS:

The componential analysis of the fixed assets of kesoram includes net blocks,

capital (work in progress) and construction stores and advances. The data relating to

different components of fixed assets of the ICICI BANK LTD for 5 years commencing

from 2013-14 to 2017-18 are set out in the following table analysis:

YEAR NETBLOCK CAPITAL TOTAL

(FIXEDASSETS) (W\P)

2013-14 4635.69 174.49 37.23745

2014-15 4941.68 174.49 39.6954

2015-16 16400.25 274.04 41.60068

2016-17 16634.82 274.07 42.45245

2017-18 18172.36 274.18 47.86038

14000

12000

10000

8000 NETBLOCK
CAPITAL
6000 TOTAL

4000

2000

INTERPRETATION:

By observing the above table it reveals that the investment in the net block is

in increasing trend .It was 37.23 over the total fixed assets during the year 2013 and it has

increased to 47.86 during the year 2017-18.

49
TREND ANALYSIS:

In financial analysis the direction of change over a period of years is of initial

importance. Time series and trend analysis of ratio indicates the direction of changes. This

kind of analysis is particularly applicable to the profit and loss account. It is advisable that

trends of sales and net income may be studied in the light of two factors. The general price

level that might be found in practice is that a number of firms would be shown at persistent

growth over period of years but to get a true trend of growth, the sales figure should be

adjusted by a suitable index of general prices.

In other words, sales figures should be deflated for raising price level. Another

method of securing trend of growth and the one which can be used instead of adjusted sales

figure or as to check on them is to tabulate and lot the output of physical volume of the

sales expressed in suitable units of measure. The general price level is not considered while

analyzing trend in growth as it can mislead management. They may become unduly

optimistic in period of prosperity and pessimistic in dual periods.

For trend analysis the use of index numbers is generally advocated, the procedure

followed is to assign the numbers to items of base years and at calculated percentage

change in each item of other years in relation to base year. This procedure may be called as

“Fixed percentage method”.This margin determines the direction of upward or downward

and involves the implementation of the percentage relationship of each statement item

means on the same in the base year. Generally the first year is taken as the base year. The

figures of the base year are taken as 150 and trend ratio for the other years is calculated on

the basis of first year. Here an attempt is made to know the growth rate in total investment

and fixed assets of the ICICI BANK LTD for 5 years that is 2013-14 to 2017-18.

50
GROWTH IN TOTAL INVESTMENT:

YEAR INVESTMENT TREND PERCENTAGE

2013-14 1534.80 150

2014-15 1669.55 161.340356

2015-16 3730.32 360.487051

2016-17 3788.77 366.185485

2017-18 5158.72 493.691535

GROWTH IN TOTAL INVESTMENT

6000

5000

4000

INVESTMENT
3000
TREND PERCENTAGE

2000

1000

INTERPRATATION:

From the analysis of above table it can be observed that Total Investment of ICICI BANK

LTD had change and the growth rate is increased and in the year 2016 it is the increasing

stage and in the year 2018 it is increased due to increased in the current block. It is constant

from 2013-14 to 2017-18.

51
GROWTH RATE IN FIXED ASSETS:

YEAR FIXEDASSETS TREND PERCENTAGE

2013-14 4365.38 150

2014-15 4716.99 158.054516

2015-16 15890.33 249.470378

2016-17 17166.18 278.695784

2017-18 14025.19 321.282225

GROWTH RATE IN FIXED ASSETS

TREND PERCENTAGE
16000

14000

12000

10000

8000 TREND PERCENTAGE

6000

4000

2000

INTERPRETATION:

The above table shows that the investments in fixed assets are increasing. So

this is a good sign for the company. When compared to 2014-2018 it is been continuously

increased in different ratio percent to 321.28%

RATIO ANALYSIS:

Ratio analysis is a powerful tool of financial analysis. A ratio is defined as the

indicated Quotient of two mathematical expressions and Ratios look at the relationship

52
between individual values and relate them to how a company has performed in the past, and

might perform in the future.

The absolute accounting figure reported in financial statement does not

provide a meaningful understanding of the performance and financial position of the firm.

Ratios help us to summarize large quantities of financial data and to make qualitative

judgment about firm’s financial performance.

1. FIXED ASSETS TO NET WORTH RATIO :

This ratio establishes the relationship between fixed assets and net worth .

Net worth = share capital + reserves and surplus + retained earnings

Fixed assets to net worth ratio = Fixed assets

Net worth

The ratio of “Fixed assets” to “Net worth” indicates the extent to which share

holders funds are sunk into the fixed assets. Generally, share holders should finance for

Purchasing fixed assets and equity including the reserves and surpluses and retained

earnings. If the ratio is less than 150% it implies that owner’s funds are more than total

fixed assets and the share holder provide a part of working capital.

When the ratio is more than 150% it implies that owner’s funds are not

sufficient to finance the fixed assets and financier has to depend upon outsiders to finance

the fixed assets. There is no “Rule of Thumb” to interpret but 60%-65% is considered to be

satisfactory ratio in case of industrial undertaking.

2. FIXED ASSET RATIO:

This ratio explains whether the firm has raised adequate long term fund to meet its fixed

assets required and is calculated as under:

= Fixed assets (after depreciation)

Capital employed

53
This ratio gives an idea as to what part of the capital employed has been used in purchasing

the fixed assets for the concern. If the ratio is less than 1 it is good for the concern.

3. FIXED ASSETS AS A PERCENTAGE TO CURRENT LIABILITIES:

The ratio measures the relationship between fixed assets and the funded debts and is

very useful to the long term erection. The ratio can be calculated as shown below

Fixed assets as a percent of current liabilities= Fixed Assets

Current liabilities

1. TOTAL ASSETS TURN OVER RATIO:

The ratio is calculated by dividing the net sales by the value of total assets that is (net

sales/total investment) or (sales/total investment).A high ratio is an indicator of over trading

of total assets while a low ratio reveals idle capacity. The traditional standard for the ratio is

two times. = Net sales

Total Assets

2. FIXED ASSETS TURNOVER RATIO:

The ratio expresses the no. of times fixed assets are being turned over in a

stated period. It is calculated under.

= _____________sales_____________

Net fixed assets (after depreciation)

This ratio shows how well the fixed assets are being used in business. The ratio is important

in case of manufacturing concern because sales are produced not only by use of current

assets but also by amount invested in fixed assets the higher ratio, the better is the

performance. On the other hand, a low ratio indicates that fixed assets are not being

effectively utilized.

54
5. RETURN ON TOTAL ASSETS:

= Profit after tax

Total assets

This ratio is calculated to measure the profit after tax against invested in total

assets to ascertain whether assets are being utilized properly or not.

The higher the ratio the better it is for the concern.

Let us use ratios in the (ICICI BANK LTD) information:

FIXED ASSETS TO NET WORTH RATIO

The ratio indicates the extent to where the shareholders funds are struck in the

fixed assets. The formula to compute fixed assets to net worth is calculated as follows:

Fixed assets (after depreciation)

Net worth

NET WORTH =share capital + reserves and surplus + retained earnings-net loss.

If the ratio is less than 150% it implies that owner’s funds are more than the fixed assets

and the shareholders and vice versa provide a part of working capital.

Fixed assets to net worth ratio = Net fixed assets

Net worth

YEAR NETFIXED ASSETS NET WORTH RATIO IN %

2013-14 4365.38 3602.15 1.2169

2014-15 4716.99 4613.65 1.02351

2015-16 15890.33 15666.04 1.02153

2016-17 17166.18 17859.82 0.94606

2017-18 14025.19 15234.82 0.92061

55
FIXED ASSETS TO NET WORTH RATIO

16000

14000

12000

10000 NETFIXED ASSETS

8000 NET WORTH

RATIO IN %
6000

4000

2000

INTERPRETATION:

The above table shows a continuous increase in net worth and fixed assets. This

shows the satisfactory position of the company.

FIXED ASSET RATIO:

Capital employed=shareholders fund + Long-Term borrowings

Fixed assets (after depreciation)

Capital Employed

YEAR NETFIXED ASSETS CAPITAL EMPLOYED RATIO IN %

2013-14 4365.38 1799.57 3.359146

2014-15 4716.99 978.68 4.819747

2015-16 15890.33 3063.83 3.554482

2016-17 17166.18 2286.16 5.321644

2017-18 14025.19 2421.52 5.791895

56
 16000

14000

12000

10000 NETFIXED ASSETS

8000 CAPITAL EMPLOYED

RATIO IN %
6000

4000

2000

INTERPRETATION

The above table shows growth in fixed assets satisfactory position of fixed

assets in the company. Long term funds show less fluctuation, there is no change the

highest percent 5.79 recorded in the year 2017-18. That shows the position of the company

is satisfactory.

FIXED ASSETS AS A PERCENTAGE TO CURRENT LIABILITIES:

Fixed assets as a percentage to current Liabilities

= __fixed assets__

Current Liabilities

YEAR NET FIXED ASSETS CURRENT LIABILITIES RATIO IN %

2013-14 4365.38 1982.39 2.202079

2014-15 4716.99 2153.61 2.190271

2015-16 15890.33 5345.56 2.037266

2016-17 17166.18 6420.48 1.894894

2017-18 14025.19 7716.26 1.818793

57
 16000

14000

12000

10000 NET FIXED ASSETS

8000 CURRENT LIABILITIES

RATIO IN %
6000

4000

2000

INTERPRETATION

The above table shows the relationship between fixed and current Liabilities. The

above table shows growth in fixed assets this shows the satisfactory position of fixed assets

in the company. Even the current liabilities are increasing. The highest percentage recorded

was in the year 2013-14 i.e., 2.20 and the lowest was in the year 2017-2018 i.e., 1.81.

TOTAL INVESTMENT TURN OVER RATIO:

The total investment turnover ratio can be calculated by the formula as given under

Total investment ratio = sales

Total investment

YEAR SALES INVESTMENT RATIO IN %

2013-14 6385.50 1534.80 6.170758

2014-15 7042.82 1669.55 4.218394

2015-16 18205.64 3730.32 3.540132

2016-17 18270.69 3788.77 4.822328

2017-18 20174.94 5158.72 3.949168

58
INTERPRETATION

From the above table we can see that sales had an increase Investment is

constant from 2014-2018 that signifies the company position is satisfactory.

FIXED ASSETS TURN OVER RATIO:

The fixed assets turnover ratio is a relation between the sales or cost of goods

and fixed/capital assets employed in a business.

Fixed assets turnover ratio = sales

Total fixed asset

YEAR SALES NETFIXED ASSETS RATIO IN %

2013-14 6385.50 4365.38 1.462759

2014-15 7042.82 4716.99 1.493075

2015-16 18205.64 15890.33 1.217602

2016-17 18270.69 17166.18 1.501767

2017-18 20174.94 14025.19 1.438478

25000

20000

15000 SALES
NETFIXED ASSETS

10000 RATIO IN %

5000

59
INTERPRETATION

The above table shows increases in Net fixed assets. That can also be seen clearly in sales,

that indicates a good sign.

RETURN ON TOTAL ASSETS:

The return on fixed assets can calculate as under:

Return on fixed assets = profit after tax

Total Assets

YEAR PROFIT AFTER TAX TOTAL ASSETS RATIO IN %

2013-14 977.02 5743.73 0.170152

2014-15 1593.24 6218.17 0.175955

2015-16 1404.23 14815.64 0.144817

2016-17 2446.19 16667.95 0.14676

2017-18 2655.43 19697.50 0.18481

20000
18000
16000
14000
12000 PROFIT AFTER TAX

10000 TOTAL ASSETS

8000 RATIO IN %

6000
4000
2000
0

60
INTERPRETATION

The above table shows increase in profit 2014-2018 profit has gone up. This shows

the favourable position of the company.

VALUATION OF FIXED ASSETS:

ICICI BANK LTD Follows

1) Historical cost method in the valuation of fixed assets.

2) The fixed assets do not include assets acquired on sale-cum-lease basis from various

Financial Institutions whereon the lease rent paid for the year is charged to revenue.

3) Plant and Machinery includes the value of Air Conditioning Plants at various units

which were transferred and vested with the Corporation under the transfer scheme. The

gross value and depreciation thereon are not segregated in the absence of break up

details under the transfer scheme. The value thereof, however, is insignificant.

4) Investments are intended for long term and are carried at cost. Income on investment is

accounted on accrual basis.

5) Capital expenditure on assets not owned by the company is reflected as a distinct items

in capital WIP till the period of completion and therefore in the Fixed assets.

6) The Company evaluates the impairment of losses on the fixed assets whenever events or

changes in circumstances indicate that their carrying amounts may not be recoverable.

If such assets are considered to be impaired the impairment loss is then recognized for

the amount by which the carrying amount of the assets exceeds its recoverable amount,

which is the higher of an asset's net selling price and value in use. For the purpose of

assessing impairment, assets are grouped at the smallest level for which, there are

separately identifiable cash flows.

61
7) Fixed assets is adjusted in their carrying cost in respect of foreign currency transactions

entered before 1-4-2018 and that related to current assets is recognized as

revenue/expenditure during the year.

8) In case of commissioned assets, where final settlement of bills with contractors is yet to

be effected, capitalization is done on provisional basis subject to necessary adjustment

in the year of final settlement.

CALCULATION OF DEPRECIATION:

Depreciation methods followed by ICICI BANK LTD is as follows:

1) Depreciation is charged on straight-line method as per rates notified by the Government

of India except where actual cost does not exceed Rs. 5354 in which case it is charged

150% in the same year. In respect of assets, where rate is not laid down, depreciation is

provided on straight-line method under the schedule XIV of the Companies Act 1956.

2) Depreciation is provided on pro-rata basis in the year in which the asset becomes

available for use.

3) Where the cost of depreciable assets has undergone a change during the year due to

increase/decrease in long term liabilities on account of exchange fluctuation, price

adjustment, change in duties or similar factors, the unamortized balance of such asset is

depreciated prospectively over residual life determined on the basis of the rate of

depreciation.

4) Internal electrical wiring, fittings etc., are treated as part of buildings and as such

depreciation applicable to buildings is charged thereon.

62
 CHAPTER-V

RECOMMENDATIONS
FINDINGS
SUGGESTIONS
CONCLUSION
ANNEXTURE
BIBLIOGRAPHY

63
 RECOMMENDATIONS

 The company should maintain their market position and try to increase their
customers.

 Enough spare parts for the latest models should be stocked, so as to meet
sudden break down calls.

 To enable the customers to get in touch with the service personal more easily,
the number of direct phones should be increase or provide the toll free
number.

 Periodically, review meetings with the customers in different areas should be

convinced, to have a general consensus regarding problems being faced by
them.

64
 FINDINGS

1. Most of the respondents were aware by the friends and relatives

(48%).Advertisements (28%) also helped in providing information to the
respondents.

2. 82% of the respondents were aware of ICICI BANK LTD brand.

3. In advertisement media newspapers (56%) were much affective and motor (38%)
was also a major advertising media.

4. Many factors like family members advertising were responsible for influencing
the customers to buy ICICI BANK LTD.

5. 6% of the customers were very much satisfied with ICICI BANK LTD. Whereas
58% was satisfied with ICICI BANK LTD.

6. 39% of the respondents were satisfied with the service of the ICICI BANK LTD.

7. After sales service at door step 38% was one of the factors which help the
purchaser to buy a ICICI BANK LTD. Prompt service 52% also help to attract the
purchaser.

8. 54% of the respondents considered the price of the ICICI BANK LTD. As higher
where as only 8% considered as economical and 38% of the respondent said it as
reasonable.

65
 SUGGESTIONS

1. The most important media for consumer durables is. So, they should go for
television advertisements rather going for newspaper, the television
advertisements influences more on the people. They should spend some
expenditure for T.V. advertisements.

2. Being the price of the ICICI BANK LTD is high they should try to reduce
prices because there are many other TV’s which can be purchased at lower
cost, and then these people are selling. If not, the sales may decrease.

3. More features should be added to the television according to the needs of the
customer, because their competitors are coming with new models. According
to the competitors changing models also these people should change the
models also these people should change the models or change the technology.

4. Company should give some incentives to the dealers for promoting the
products of ICICI BANK LTD. They should not neglect dealers. They should
select good dealers, b which they can give customer satisfaction.

5. Company should setup service centres at dealer level itself. They should train
some personnel for exclusive maintenance of these Televisions. They should
provide home service to the customers. The personnel should be appointed by
company to the dealers. The service should be accurate.

66
 CONCLUSION

a study was useful in understanding the customer relationship management of ing

among a various customers launching new formulations can make CEMENT to
the pioneer in many market segments.

CEMENT was inferred that most customers of high-income group preferred the
supply about 70% of customers is aware of CEMENT.

Most of the customers agree that ING is best quality with reasonable price the
attitude 50% of customers towards price of ACCOUNT is reasonable. But 15% of
the customers of asking for improvement in the quality.

67
 ANNEXTURE

Name of Respondent: ___________________________________________________

Designation: ________________________ Income:
___________________________
Address:
______________________________________________________________
Phone No._________________ Email id: ___________________________________

Introduction & purpose

Good ___________________. I’m __________________ from HSM on Customer
Relationship Management. As part of curriculum I am doing this survey for the award
of Master of Business Administration. Kindly, co-operate, the information given by
you will be used for academic purpose only.
……………………………………-o0o-………………………………………………

1. DO YOU OWN AN ACCOUNT? (YES / NO)

2. SOURCES OF AWARENESS: ()

(A)T.V (B) NEWSPAPER (C) FRIENDS (D) DEALERS

3. LEVEL OF SATISFACTION ()

(A)EXCELLENT (B) GOOD (C) AVERAGE (D) POOR

4. WHAT ARE THE VOLUBLE ATTRIBUTES YOU NORMALLY LOOK WHILE

PURCHASING AN ACCOUNT? ()

(A) SERVICE (B) PRICE (C) SAFETY (D) OTHERS

68
5. SUGGESTING TO FRIENDS: (YES/NO)

6) BANK EXECUTIVE PERFORMENS: ()

(A)EXCELLENT (B) GOOD (C) AVERAGE (D) POOR

7) DELIVERY TERMS: ()

(A) TIMELY/PROMPTLY (C) SAFELY (C) INCONDITION

8) AMBIENCE OF BANK: ()

(A) BANK AMBIENCE (B) DISTANCE

(C) APPEAL (C) OTHERS

9. What is your opinion on the serviced availability of fixed lines?

a) Easily available b) Not available
c) To some extent d) can’t say
15) Is CLIP facility providing by the service is sufficient & convenient to you?
a) Yes b) No
16) Do you feel that the instruments being provided along with the services is OK
or you want any change? (As per your choice)
a) Yes, we want change b) No, it is ok
17) Do you recommend this service to your friends, colleagues & family?
a) Yes b) No

18. ARE YOU SATISFIED WITH YOUR ACCOUNT SERVICE? (YES /

NO)

14. PLEASE RATE OVER ALL EXPERIENCE WITH REGARD TO THE ABOVE
ANS: ___________________________________

69
15. POST PURCHASE:

(A) DID THE SALES PERSONNEL CONTACT YOU ABOUT THE

SATISFACTION LEVEL AFTER DELIVERING THE ACCOUNT.? (YES
/ NO)

i) HOW MANY TIMES ( )

A) ONCE B) TWICE C) MORE THAN TWICE

I6) WERE THEY FRIENDLY (YES / NO)

17. PLEASE MENTION YOUR VALUABLE SUGGESTIONS:

_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________

Thanking You

70
 BIBLIOGRAPHY

 PHILIP KOTLER 2000/e - MARKETING MANAGEMENT

 PHILIP KOTLER &
GARY ARMSTRONG - PRINCIPLES OF MARKETING

 G.C. BERI - MARKETING RESEARCH

 Www. ultratechcementlimited.com
 Www. bankinghelp.com

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