Management Thesis

“To study on ICICI Financial Services for

Investor in Nanded city”.

Submitted By:
Waghmare Shashikant
Bhagwanrao .

1
 CERTIFICATE

This is to certify that the Management Thesis titled “To study on ICICI

Financial Services for Investor in Nanded city” submitted by Waghmare

Shashikant Bhagwanrao Enroll No: 8NBND050 during Semester III of the

MBA Program (The Class of 2010) embodies original work done by him.

Signature of the
Faculty Supervisor

Name : Mrs.Sarika Lohana

Designation : Faculty Member of INC Nanded
Campus : Nanded

Table of Contents
2
Certificate……………………………………………………………………………I
Acknowledgements………………………………………………………………….II
List of table & Illustration…………………………………………………………..III
Abbreviation………………………………………………………………………....IV
Summary……………………………………………………………………………..V

Chapter 1 Introduction
1.1 Introduction……………………………………………………………………….. 1-2
1.2 Objective and Limitation………………………………………………………….. 3-4
1.3 Methodology………………… ……………………………………………………,5-6
1.4 7 P’s of ICICI Bank………………………………………………………………..9

Chapter 2 Industrial Profile

2.1 Definition of Banking………………………………………………………………10
2.2 Overview of Banking...……………………………………………………………..11-12
2.3 Nature of Banking…..………………………………………………………………13-14
2.4 Banking Product………..…………………………………………………………...17
2.5 Meaning of the Banking…………………………………………………………….18
2.6 Type of Banking…………………………………………………………………….19-22
Chapter 3 Company Profile
3.1 About ICICI Bank………………………………………………………………….23-24
3.2 Company Profile……………………………………………………………….........25
3.2 Company Vision and Mission ………………………………………………….......26
3.3 Company Value….……………………………………………………………….....27
3.4 Company achievement……. …………………………………………………….....27-29
3.5 Product of the Bank…………………………………………………………….......30-48
Chapter 4 Finding and Analysis
4.1 Finding……………………………………………………………………………49-54
4.2 Review of Literature……………………………………………………………...55-58
4.3 Conclusion and/or Recommendations…………………………………. …………59
4.4Questionnaire ……………………………………………………………………....60

Chapter 5 Summary
5.1 Glossary …………………………………………………………………………..61
5.2 References …………………………………………………………………….…62
5.3 Appendix ………………………………………………………………………...63

Acknowledgement
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 It has been a great pleasure for me to work as a management trainee in an esteem

organization ICICI Company. Ltd that made me aware of culture followed in the

organization & gave great exposure. I would like to thank to Mr. Shivanand Bhosle

Branch Manager of ICICI Co. Ltd. for the moral support, encouragement and generous

assistance.

I express my heartfelt gratitude towards my faculty guide, Mis.Sarika lohana. I wish to

thank her for the constructive criticism, continuous encouragement and guidance provided by

her time to time during the course of studies. This project would not have been possible

without her help. I express my sincerely thanks to Campus Coordinator Mr. Rajandra

dongre. I wish to thank him for the constructive criticism, continuous encouragement.

A heartfelt thanks to the many respondents surveyed whose ideas; critical insights and

suggestions have been invaluable in the preparation of this report. I would also like to thank

my friends, colleagues and well-wisher who directly or indirectly helped me in the project.

Last but by no means the least I would like to convey my special thanks all the faculty

members of ICFAI National College, Nanded for giving valuable guidance and

encouragement to work on this project.

Guided Center Coordinate

Mrs.Sarika Lohana Mr.Rajandra Dongre

Introduction

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 Banking in India can be categorized into non scheduled and scheduled banks.

Scheduled banks constitutes of commercial banks and co operative banks. There are

about 67,000 branches of scheduled banks increase across India. During the first

phase of financial reforms there was nationalization of 14 banks in 1969 .This crucial

step lead to a shift of class banking to mass banking .Banking industry is in the

transition phase it is considered as fairly mature in terms of supply, product range and

reach-even though reach in rural India still remains a challenge for the private sector

and foreign banks. Even in terms of quality of assets and capital adequacy, Indian

banks are considered to have clean, strong and transparent balance sheets-as

compared to other banks in comparable economies in its region. Public sector bank

which constitute 78 percent of the total banking assets ,but the private sector bank are

making an immense progress they are leaders in mobile ,internet and phone banking.

The Public Sector Banks (PSBs), which are the base of the Banking sector in India

account for more than 78 per cent of the total banking industry assets. Unfortunately

they are burdened with excessive Non Performing assets (NPAs), massive manpower

and lack of modern technology. On the other hand the Private Sector Banks are

making tremendous progress. They are leaders in Internet banking, mobile banking,

phone banking, ATMs. As far as foreign banks are concerned they are likely to

succeed in the Indian Banking Industry. The Reserve Bank of India is an autonomous

body, with minimal pressure from the government. The growth in the Indian Banking

Industry has been more qualitative.

Introduction of company

5
 ICICI Financial Services, Ltd., a holding company, operates in life insurance,

general insurance, and mutual fund businesses. It was formerly known as ICICI

Holdings, Ltd. and changed its name in 2006. The company was founded in 2007 and

is based in Mumbai, India. ICICI Financial Services, Ltd. operates as a subsidiary of

ICICI Bank, Ltd

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

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

Holdings Limited. ICICI Bank is India's second largest bank; while Fairfax Financial

Holdings is a diversified financial corporate engaged in general insurance,

reinsurance, insurance claims management and investment management. Lombard

Canada Ltd., a group company of Fairfax Financial Holdings Limited, is one of

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

Company received regulatory approvals to commence general insurance business in

August 2001.

Objective
 To study the awareness of ICICI Financial services.

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  To understand the performance of ICICI Financial services.

 To study how many customers invest his money in ICICI?

 To study the market share of ICICI.

 To study the customer satisfaction level.

Limitation
 Customer provides good services for customer and do not take more gift

and facilities.
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  Though the present study aims to achieve the above-mentioned objectives

in full earnest and accuracy, it may be hampered due to certain limitations

 It covers only satisfaction level of customer and strategy apply to retention

management.

 To do the study on measuring the satisfaction levels of customer and

strategy to retain them its need much time. It is not possible to do the study

with in the minimum time.

 The sample size was quite large and the time period was less.

METHODLOGY

Research Design

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 A research design is purely and simply framework or a plan for study that guides is

collection of data.  Descriptive research design is adopted for analyzing the data.

Sampling Design

Population under study

Customers in and around City are the targeted respondents for the study details about

these customers are collected from merchant association

Sample size
Once the population is determined the sample size has to be fixed.  Two hundred fifty

sample respondents are taken based on simple random sampling method.  The various

variables like awareness, usage level & satisfaction of respondent are gathered to be

studied.

Sampling Frame

The frame refers to the customers who have been selected for the study.

Sampling Technique

A convenient sampling was followed to have sufficient discretion in selecting the

sample.

Data Collection Method

Data collection is the most impeccant aspects in the research methodology.  The data

was collected based on interview technique and personally handed out structured
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 questionnaire questions were resented is exactly the same words is the same order to

all the respondents.

The questionnaire was conceived in such a way that the questions as well as the

answers were standardized.  This is accomplished by employing fixed alternative.

Such a questionnaire facilitates easy administration & tabulation and analysis closed

ended questionnaire was used in the study.

Group companies

 ICICI Prudential Life Insurance Company Limited

 ICICI Lombard General Insurance Company Limited

 ICICI Securities Limited

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  ICICI Venture Funds Management Company Limited

 ICICI Home Finance Company Limited

 ICICI Investment Management Company Limited

 ICICI Trusteeship Services Limited

 ICICI Brokerage Services Limited *

 ICICI Distribution Finance Private Limited

ICICI Bank
The Bank was incorporated on 5th January 1994 at Baroda. ICICI Bank was promoted

by ICICI and erstwhile SCICI Ltd. and received the Certificate for Commencement of

Business on 24th February. It does banking business of all kinds. It was founded as an

institution to provide quality banking services using state-of-the-art technology.

The Bank has established a well diversified branch network with 24 branches in 15 centers

covering 12 states. The bank set up a fully computerized environment with the State-of-the-

art technology at all offices continuously upgrading its strong systems and procedures with

special emphasis on risk management.

Feature of ICICI bank

 Second largest bank in India with asset size of over US $ 24 billion

 A network of 540 branches /offices and over 1,700 ATMs

 Presence across all financial products

 Only FI in India to pierce sovereign rating

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  Technology-enabled products and processes

Product of ICICI bank

 Savings Account

 Fixed Deposit

 Demat Account

 Senior Citizen's Account

 Credit Card – Gold Card

7 P's of marketing of ICICI Bank

Product Mix

 - Deposits

 - Investments

 - Anywhere Banking

 - Loans

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 - Cards

 - Demat Services

 - Mobile Banking

 - NRI Services

Pricing Mix

Place

 - Location of Branchs

 - Location of ATM's

Promotion Mix

Process

Physical Evidences

People

Chapter 2
Industrial Profile

Definition of Banking
 The Banking Regulation Act, 1949 is the basis for regulation of banking in India.

Section 5(b) of the Act defines banking as “banking” means the accepting, for the purpose of

lending or investment, of deposits of money from the public, repayable on demand or

otherwise, and withdraw able by cheque, draft, order or otherwise.

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“A bank is a financial institution licensed by a government. Its primary activity is to lone

money. Many other financial activities were allowed over time. For example banks are

important players in financial markets

In general terms, “the business activity of accepting and safeguarding money owned by other

individuals and entities, and then lending out this money in order to earn a profit”.

“An organization, usually a corporation, chartered by a state or federal government, which

does most or all of the following: receives demand deposits and time deposits, honors

instruments drawn on them, and pays interest on them; discounts notes, makes loans, and

invests in securities; collects checks, drafts, and notes and offer financial services such as

investment funds”.; certifies depositor's checks; and issues drafts and cashier's checks”.

Overview of Banking Sector

The banking system in India is significantly different from that of other Asian nations

because of the country’s unique geographic, social, and economic characteristics. India has a

large population and land size, a diverse culture, and extreme disparities in income, which are

marked among its regions. There are high levels of illiteracy among a large percentage of its

population but, at the same time, the country has a large reservoir of managerial and

technologically advanced talents. Between about 30 and 35 percent of the population resides

in metro and urban cities and the rest is spread in several semi-urban and rural centers. The
14
country’s economic policy framework combines socialistic and capitalistic features with a

heavy bias towards public sector investment. India has followed the path of growth-led

exports rather than the “exported growth” of other Asian economies, with emphasis on self-

reliance through import substitution.

These features are reflected in the structure, size, and diversity of the country’s banking and

financial sector. The banking system has had to serve the goals of economic policies

enunciated in successive five year development plans, particularly concerning equitable

income distribution, balanced regional economic growth, and the reduction and elimination

of private sector monopolies in trade and industry. In order for the banking industry to serve

as an instrument of state policy, it was subjected to various nationalization schemes in

different phases (1955, 1969, and 1980). As a result, banking remained internationally

isolated (few Indian banks had presence abroad in international financial centers) because of

preoccupations with domestic priorities, especially massive branch expansion and attracting

more people to the system. Moreover, the sector has been assigned the role of providing

support to other economic sectors such as agriculture, small-scale industries, exports, and

banking activities in the developed commercial centers (i.e., metro, urban, and a limited

number of semi-urban centers).

The banking system’s international isolation was also due to strict branch licensing controls

on foreign banks already operating in the country as well as entry restrictions facing new

foreign banks. A criterion of reciprocity is required for any Indian bank to open an office

abroad.

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These features have left the Indian banking sector with weaknesses and strengths. A big

challenge facing Indian banks is how, under the current ownership structure, to attain

operational efficiency suitable for modern financial intermediation. On the other hand, it has

been relatively easy for the public sector banks to recapitalize, given the increases in

nonperforming assets (NPAs), as their Government dominated ownership structure has

reduced the conflicts of interest that private banks would face.

Nature of Banking

Nature and Scope of Banking

Banking activities are considered to be the life blood of the national economy. Without

banking services, trading and business activities cannot be carried on smoothly. Banks are the

distributors and protectors of liquid capital which is of vital significance to a developing

country. Efficient administration of the banking system helps in the economic growth of the

nation. Banking is useful to trade and commerce.

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Banking activities are useful to trade and industry in the following ways.

a) Money deposited in a bank remains safe. Precious articles too can be kept in the safe

custody of banks in lockers.

b) Banks provide credit facilities to their customers. Customers with bank accounts also enjoy

better credit in the business world.

c) Banks encourage the habit of saving and thrift among people. They mobilize savings and

invest them in productive activities. Thus, they help in increasing the rate of savings and

investment in the country.

d) Banks provide a convenient and safe means of transferring money from one place to

another and facilitate business dealings/ transactions.

e) Banks collect and realize bills, cheque, interest and dividend warrants etc. on behalf of

their customers.

f) Foreign trade is facilitated considerably with the help of banks which receive and make

payments, provide credit and deal in foreign exchange. They protect importers from the risk

of loss on account of exchange rate fluctuations. They issue letter of credit and provide

information on the credit worthiness of importers. They also act as referees of their

customers.

g) Banks meet the financial needs of small-scale business units which are located in

economically backward areas.

h) Farmers and artisans in rural areas can also avail of bank credit for financing their

activities.

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i) Commercial banks provide many other services to the general public which includes locker

facility, issue of traveler’s cheque and gift cheque, payment of insurance premium, etc.

Service activities of banks

Service activities of banks may be categorized as follows:

i) Agency services

ii) General services

Agency services

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Banks undertake/various agency services for their customers. These are

outlined below.

a) Collection of cheques, drafts, and bills of exchange on behalf of customers.

b) Collection of dividend and interest warrants of customers.

c) Collection of pension of government employees.

d) Purchase and sale of securities on the instructions of customers.

e) Executing standing orders for payment of rent, electricity bill, insurance

premium etc.

f) Acting as correspondent or representative of customers in dealing with other

banks.

g) Acting as trustee or executor when so nominated.

General Services

A commercial bank also performs the following services of general utility to

the public:

a) Issue of letters of credit, traveller’s cheques and circular notes.

b) Safe custody of valuables like gold, jewellery and important

documents in safe deposit vaults (lockers) available on hire.

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 c) Supply of trade information.

d) Acting as a referee as regards financial status of customers.

e) Acceptance of bills of exchange on behalf of customers.

f) Underwriting loans floated by government and public bodies.

Banking Products

Online banking with Principal Bank offers everything but the big lobby and the short hours.
We offer the same complete line of products you need and use everyday, but in a convenient,
economical way.

Checking Accounts
A truly free account that offers online convenience with FREE, unlimited online BillPay.

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Money Market & Savings Accounts
Different products for savers age one to one hundred. Check out the benefits of opening one
today!

Health Savings Account (HSA)

Accumulate significant tax-advantaged savings, along with the option to use in conjunction
with a High Deductible Health Plan to provide the security of quality group medical
insurance protection

Certificates of Deposit
Products for long-term investing in various terms and styles.

Individual Retirement Arrangement (IRA)

Traditional, Roth or Safe Harbor; long-term or short-term. Whatever you're looking for we
can help.

Loans
Home remodeling, debt consolidation, college tuition, or a second honeymoon. Principal
Bank has a loan product to cover it all.

Credit Cards
Two different ways to make your card work for you! VISA name, great rewards! Find out
more today.

Gift Cards
A convenient, easy-to-use debit card that can be used anywhere Visa® is accepted.

Meaning of the Banking

Bank is an institution which deals in money and credit. It accepts deposits from the public
and grants loans and advances to those who are in need of funds for various purposes.
Banking is an activity which involves acceptance of deposits for the purpose of lending or
investing. In addition to accepting deposits and lending funds, banking also involves
providing various other services along with its main banking activity. These are mainly
agency services, but include several general services as well. A banker is one who undertakes

21
banking activities, accepting deposits and lending money for different purposes. The Banking
Regulation Act, 1949 defines banking as an activity of accepting funds from the public for
the purpose of lending or investment. The essential features of banking activities are as
follows:-

i) Accepting deposits from public;

ii) Lending or investment of such deposits;

iii) Incidental to the activities of accepting deposits for lending or investing, banks undertake
activities like —

a) Promoting and mobilizing savings of the public;

b) Providing funds to trade and industry by way of discounting bills, overdraft, cash credit
facility, and transfer of funds from one place to another;

c) Providing agency services to customers, such as collection of bills, payment of insurance

premium, purchase and sale of securities, etc., and other general services, such as issue of
travelers’ cheques, credit cards, locker facility, etc; Money deposited with the bank is assured
as far as its safety is concerned. Further the depositor is allowed to withdraw it whenever
required. Banks allow interest on deposits. Such interest helps in the growth of funds
deposited with the bank. Thus the rate of interest provided on deposits acts as an incentive to
the depositors.

Type of Indian Banking

(1)Central Bank (RBI)

(2) Commercial Banks

(3) Industrial Banks

(4) Foreign Exchange Banks

(5) Development Banks

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 (6) Regional Rural Banks

(7) Co-operative Banks

Reserve Bank of India (Central Bank)

In every country, the bank which is entrusted with the responsibility of guiding and
regulating the banking system is known as the Central Bank. In India the central banking
authority is the Reserve Bank of India. The Reserve Bank does not deal directly with the
members of public. It acts as bankers’ bank maintaining deposit accounts of all other banks
and advances money to banks whenever needed. It regulates the volume of currency and
credit, and has powers of control and supervision over all banking institutions.

The Reserve Bank also acts as goverment banker and maintains the record of goverment
receipts, payments and borrowings under various heads. It advises the government on
monetary and credit policy, besides deciding on the rate of interest on bank deposits and bank
loans. It is the custodian of currency reserves consisting of foreign exchange, gold and other
securities. Another important function of the Reserve Bank is the issue of currency notes and
regulation of the money supply.

Commercial banks

Commercial banks are banking institutions which accept deposits from the public and grant
short-term loans and advances to their customers. In India, there are nationalised (public
sector) commercial banks as well as private sector banks which are corporate organisations.
The largest commercial bank is the State Bank of India which was established in 1955 under
a special Act. The main source of income of commercial

banks is the difference between the interest they charge on loans and the interest they allow
on deposits. Commercial banks generally grant short-term loans repayable within one year.
But they also meet the medium-term and long-term requirements of business enterprises.
Besides accepting deposits and lending money, commercial banks provide other services such
as issue of bank drafts, traveller’s cheques and letters of credit, collection of bills, dividends
and interest safe keeping of Valuables, transfer of money from one place to another, payment
of insurance premium etc. All these functions are discussed in the next lesson under the head
“Functions of Banks”.
23
Industrial Banks

Industrial Banks are corporate organisations which specialise in providing industrial capital
by subscribing to the share and debenture issues of public companies. Industrial banks
normally meet the long term requirements of funds for purchase of land, plant and machinery,
and financing of expansion and diversification activities of industrial companies. These banks
generally secure representation on the board of directors, and provide technical guidance in
the management of industrial companies.

Foreign Exchange Banks

Business firms engaged in foreign trade receive and make payment through foreign currency.
In order to facilitate such transactions and also help exporters and importers, there are
banking institutions which primarily engage in transactions involving foreign exchange.
These are known as Foreign Exchange Banks. In India, Export and Import Bank of India
(EXIM Bank) has been set up by the Government to help export and import trade and other
related activities. Such activities are also undertaken by the foreign exchange division of
commercial banks. Exchange banks which are foreign in origin have their head offices
located outside India. Besides financing foreign trade, the exchange banks also render
services incidental to their main function, such as

acting as referees, collecting and supplying information about the foreign customers,
providing remittance facilities. They engage in other kinds of banking business as well, like
acceptance of deposits, grant of loans and advances, etc. However, financing foreign trade
remains their field of specialisation. Licensing of these banks is required under the Banking
Regulation Act 1949. Their operations are subject to general control of the Reserve Bank of
India. Regarding their foreign exchange transactions, these banks are governed by the
Exchange Control Regulations.

Development Banks

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Development banks are special financial institutions which provide longterm capital to
industry. Rapid development of industries in India after independence requiring huge
financial investment and promotional efforts led to the establishment of these instutions.
Development banks assist the promotion, expansion and modernisation of industries, Besides
providing long-term finance, these banks also subscribe to the capital issues of industrial
undertakings, if the public subscription falls short of the total issue. Thus they act as
underwriters as well. Moreover, these banks provide technical advice and assitance, if
needed. Development banks which have been established and functioning in India are:

Industrial Finance Corporation of India (I.F.C.I)

State Finance Corporation (S.F.Cs.)

Industrial Credit and Investment Corporation of India (ICICI)

Industrial Development Bank of India (I.D.B.I.)

Industrial Reconstruction Bank of India (I.R.B.I.)

Industrial Development Bank of India acts as an apex oganisation to co-ordinate and assist in
long term industrial finance by other institutions.

Regional Rural Banks

Commercial and industrial banks cater to the financial needs of trade and industry. In rural
areas, there are small farmers, farm labourers, artisans and small entrepreneurs, who need
financial assistance. To meet their financial needs, a separate category of banks known as
Regional Rural Banks have been set up in India. These banks are financed by nationalised
banks. The central goverment specifies the local limits within which regional rural banks
shall operate. The banks are allowed to establish their own branches or agencies within the
specified area. They grant loans at lower rates of interest than the rates charged by other
banks. These banks are rural based, rural oriented and organized like commercial banks. The
purpose of these banks is to finance agricultural operations and provide employment to rural
educated youth who possess the requisite orientations. Regional Rural Banks have been
conceived to combine the strong points of both the co-operative and commercial banks

25
eliminating the weaknesses of both. The Regional Rural Banks have been included in the
second schedule of the Reserve Bank of India Act and, therefore, they enjoy the same
privileges and facilities as the scheduled banks, including access to the Reserve Bank for
financial accommodation.

Co-operative Banks/Society

Co-operative Banks in India are established under the provisions of the Co-operative
Societies Act 1912. These are organised on co-operative basis. It was with a view to provide
adequate credit at economical rates of interest to the farmers, that co-operative credit societies
were first, organised in villages for providing financial help to agriculturist and rural artisans.
Co-operatives banks are organised both at primary and district level. Co-operative Credit
Societies (banks) at the primary level/local level are members of central co-operative banks at
the district level. Similarly, at the state level, there are state co-operative bank, which finance,
co-ordinate and control the central co-operative banks in each state. Thus the structure of co-
operative banks in India is

Pyramidal in nature. A co-operative credit society (bank) at the primary level can be formed
by the local people having common interest and common purposes. The co-operative banks
generally grant loans for productive purposes but they can also do so for other purposes. The
rate of interest charged is very moderate. The mode of recovery of loan is not very rigid.

Chapter 3

Company Profile

About ICICI

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

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

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

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

26
Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by

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

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

industry. The principal objective was to create a development financial institution for

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

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

finance to a diversified financial services group offering a wide variety of products and

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

1999, ICICI become the first Indian company and the first bank or financial institution from

non-Japan Asia to be listed on the NYSE.

After consideration of various corporate structuring alternatives in the context of the

emerging competitive scenario in the Indian banking industry, and the move towards

universal banking, the managements of ICICI and ICICI Bank formed the view that the

merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities,

and would create the optimal legal structure for the ICICI group's universal banking strategy.

The merger would enhance value for ICICI shareholders through the merged entity's access

to low-cost deposits, greater opportunities for earning fee-based income and the ability to

participate in the payments system and provide transaction-banking services. The merger

would enhance value for ICICI Bank shareholders through a large capital base and scale of

operations, seamless access to ICICI's strong corporate relationships built up over five

decades, entry into new business segments, higher market share in various business segments,

particularly fee-based services, and access to the vast talent pool of ICICI and its subsidiaries.

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

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

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

27
approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of

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

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

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

entity

Company Profile

Company Name : ICICI financial services.

Exchanges : OTH BOM

Head Quarter : Bombay.

Major Industry : Financial.

Sub Industry : Commercial Banks.

Country : INDIA.

Products : Financial.

Founded : 1994.

28
 Key persons : Mr. K.V. Kamath
Managing Director & CEO.

Company’s Vision

Vision:

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

 To be the preferred bank for total financial and banking solutions for both

corporate and individuals

Company’s Mission

Mission:

 We will leverage our people, technology, speed and financial capital to:

29
 be the banker of first choice for our customers by delivering high quality, world-class

products and services.

 expand the frontiers of our business globally.

 play a proactive role in the full realisation of India’s potential.

 maintain a healthy financial profile and diversify our earnings across businesses and

geographies.

 maintain high standards of governance and ethics.

 contribute positively to the various countries and markets in which we operate.

 create value for our stakeholders

Company’s Values

ICICI bank second largest bank in India. Customer invests his money in ICICI because

customer knows the value of the company. ICICI bank is a privet sector bank in India ICICI

value more as compare to other privet players. ICICI bank provides very good facilities to

customer that’s why customer focuses on ICICI. It is also providing to customer 24 hours

ATM services, personal banking, NRI banking, Mobile banking and Internet banking. And it

is also provide to customer easy lone service mean customer gating very fast lone within one

week. These are the total value of the ICICI Company. It share value is also good customer

gating good return form ICICI shares.

30
 Achievements OF The Companys

 Ms Chanda Kochhar, MD and CEO was awarded with the Indian Business Women

Leadership Award at NDTV Profit Business Leadership Awards , October 26, 2009.

 ICICI Bank received two awards in CNBC Awaaz Consumer Awards; one for the most

preferred auto loan and the other for most preferred credit Card, on September 30, 2009

 Ms. Chanda Kochhar, Managing Director & CEO ranked in the top 20 of the World's 100

Most Powerful Women list compiled by Forbes, August 2009

 Financial Express at its FE India's Best Banks Awards, honoured Mr. K.V. Kamath,

Chairman with the Lifetime Achievement Award , July 25, 2009

 ICICI Bank won Asset Triple A Investment Awards for the Best Derivative House, India. In

addition ICICI Bank were Highly commended , Local Currency Structured product, India for

1.5 year ADR GDR linked Range Accrual Note., July 2009

 ICICI bank won in three categories at World finance Banking awards on June 16, 2009
  •Best NRI Services bank
  •Excellence in Private Banking,APAC Region
   • Excellence in Remittance Business, APAC Region
 ICICI Bank Mobile Banking was adjudged "Best Bank Award for Initiatives in Mobile

Payments and Banking" by IDRBT, on May 18, 2009 in Hyderabad.

 ICICI Bank's b2 branchfree banking was adjudged "Best E-Banking Project Implementation

Award 2008" by The Asian Banker, on May 11, 2009 at the China World Hotel in Beijing.

 ICICI Bank bags the “Best bank in SME financing (Private Sector)” at the Dun & Bradstreet

Banking awards 2009.

 ICICI Bank NRI services wins the “Excellence in Business Model Innovation Award” in the

eighth Asian Banker Excellence in Retail Financial Services Awards Programme.

31
 ICICI Bank's Rural Micro Banking and Agri-Business Group wins WOW Event &

Experiential Marketing Award in two categories - “Rural Marketing programme of the year”

and “Small Budget On Ground Promotion of the Year”. These awards were given for Cattle

Loan 'Kamdhenu Campaign' and 'Talkies on the move campaign' respectively.

 ICICI Bank's Germany Branch has been certified by “Stiftung Warrentest”. ICICI Bank is

ranked 2nd amongst 57 savings products across 19 banks

 The ICICI Bank was awarded the runner's up position in Gartner Business Intelligence and

Excellence Award for Asia Pacific for its Business Intelligence functions.

 ICICI Bank Germany won the yearly banking test of the investor magazine €uro in the “call

money”category.

 ICICI Bank's Organisational Excellence Group was recently awarded ISO 9001:2008

certification by TUV Nord. The scope of certification comprised processes around consulting

and capability building on methods of quality & improvements

 ICICI Bank has been awarded the following titles under The Asset Triple A Country Awards

for 2009:

   • Best Transaction Bank in India

   • Best Trade Finance Bank in India

   • Best Cash Management Bank in India

   • Best Domestic Custodian in India

 ICICI Bank has bagged the Best Cash Management Bank in India award for the second year

in a row. The other awards have been bagged for the third year in a row.

 ICICI Bank Canada received the prestigious Canadian Helen Keller Award at the Canadian

Helen Keller Centre's Fifth Annual Luncheon in Toronto. The award was given to ICICI

Bank its long-standing support to this unique training centre for people who are deaf-blind.

32
 Product of the ICICI Bank

 Account

 Investment

 Any where Banking

 Lone

 Cards

 Demat Service

 Mobile Banking

 Phone Banking

 Internet Banking

 NRI Services

 ATM

Account

1. Savings Account

An ICICI Bank Savings Account offers you a valuable banking experience.

 Debit-cum-ATM Card

 Money Multiplier Facility

 Internet Banking

33
  Customer Care

 Mobile Banking

 Standing Instructions

 Nomination facility

 DD Call and Collect

Debit-cum-ATM Card

With an ICICI Bank Savings Account you will get a debit card that you can use to withdraw

cash from any ATM. Charges are applicable if you use a non-ICICI Bank ATM.

You may also use your debit card to directly make purchases through a Visa POS (Point of

Sale) machine available at most stores! This will help you access your high interest account

from anywhere.

Money Multiplier Facility

Allow us to take care of your idle money by moving it into high interest savings account

earning.

Internet Banking

Banking could not have been more convenient. Just log in with your user ID and password

and make banking a hassle-free routine. For details, or for the list of transactions that you can

do online.

If you have forgotten your Internet Banking password or user ID and wish to access your

high interest savings account, please.

34
 Customer Care

Our 24-hour Customer Care is always available to answer any query or take your

instructions. For Customer Care numbers.

Mobile Banking

Transferring funds or getting to know your balance is as easy as sending an SMS. For details

on Mobile Banking.

Standing Instructions

ICICI Bank accepts and supports Standing Instructions. You don’t have to worry about the

ch€ore of carrying out a routine transaction. Just set up a Standing Instruction and leave it to

us to manage.

Nomination Facility

You may nominate a person as beneficiary to your account proceeds.

DD Call and Collect

Don’t waste even a minute in a queue to collect a Demand Draft or Pay Order. On the way to

the branch, just call Customer Care, provide details of the DD to be prepared and collect it

ready and signed at the branch.

Features

 The ICICI Bank International debit card is a debit-cum-ATM card providing you with the

convenience of acceptance at merchant establishments and cash withdrawals at ATMs.

35
 The next time you want to withdraw cash from your ICICI Bank Savings account, just walk

into any bank's ATM and use your ICICI Bank ATM-cum-Debit card for free. The above

benefit is available to individual domestic Savings Account holders on maintenance of a

quarterly average balance of more than Rs.10, 000 in the savings account in a quarter. The

above benefit can be availed in the same quarter.

 Money Multiplier Facility

 Internet Banking is offered free of cost.

 Anywhere Banking - This facility entitles the account holder to withdraw or deposit cash upto

a limit of Rs.50,000 across all ICICI Bank branches.

 You can give us various types of standing instructions like transferring to fixed deposit

accounts at regular intervals.

 An average quarterly balance of Rs.10,000 only in metro and urban locations and Rs.5,000

only in semi-urban and rural locations.

 Nomination facility is available.

 Interest is payable half-yearly.

Fixed Deposit
36
 Wouldn't you like a Fixed Deposit that allows you to deposit your money for just as long as

you wish? Our Fixed Deposit allows you just that - deposits can be opened for periods

ranging from 15 days to 10 years.

 Wide range of tenures

 Choice of investment plans

 Partial withdrawal permitted

 Safe custody of fixed deposit receipts

 Auto renewal possible

 Loan facility available

Features

You can deposit any amount of money in our Fixed Deposit for as long as you wish between

15 days to 10 years.

All fixed deposits come with a set choice of investment plans. Fixed Rate Deposit accounts

also provide Fixed Loans. Re-investment Fixed Deposit rates do not change but work like a

Recurring Debit Account transaction. In other words, Re-investment Plans are compounded

over traditional deposits and hence are more lucrative over different time periods.

Benefits

37
Fixed Deposits at ICICI Bank comes with nomination facility. We also offer online access to

your Fixed Deposits through our Internet Banking channel. Internet Banking at ICICI Bank

allows you to connect your Credit Card, Loan and your Fixed Deposit with your savings

account.

In re-investment deposits, the interest is compounded quarterly and reinvested with the

principal.

Traditional term deposits provide tax shelter and shield you from factors affecting fixed

deposits in India over longer periods of fixed time.

3. Salary Account

38
 ICICI Bank Salary Account is a benefit-rich payroll account for Employers and Employees.

As an organization, you can opt for our Salary Accounts to enable easy disbursements of

salaries and enjoy numerous other benefits too.

With ICICI Bank Salary Accounts your employees will enjoy the convenience of

 Having the largest network of ATMs at their command,

 Free 24 hour Phone Banking.

 Free Internet Banking.

All you would require to do is to send ICICI Bank an advice (in form of a cheque/debit

instruction, ecs, etc) for the total salary amount along with the salary details of the designated

employees in a soft and hard copy format and we will credit the respective employees'

accounts as per your statement of advice.

ICICI Bank Salary Accounts benefits you in more than one ways:-

 Reduces your paperwork.

 Saves remittance costs.

 Employees receive instant credit of salaries.

 More convenient than ECS

Besides all of the above, employees will automatically become ICICI Bank account holders

with special benefits and privileges of 8-8 banking, Investment advisory and much more...

ICICI Bank also has a special offering: Defense Banking Services designed exclusively for

the armed forces.

Advantage - Employers

39
 As an organization, you can opt for our Salary Accounts to enable easy disbursements of

salaries and enjoy numerous other benefits too.

With ICICI Bank Salary Accounts your employees will enjoy the convenience of:

 Having the largest network of ATMs at their command

 Free 24 hour Phone Banking

 Free Internet Banking

All you would require to do is to send ICICI Bank an advice (in form of a cheque

/debit instruction, ecs, etc) for the total salary amount along with the salary details of the

designated employees in a soft and hard copy format and we will credit the respective

employees' accounts as per your statement of advice.

Investment

40
 At ICICI Bank, we care about all your needs. Along with Deposit products and Loan

offerings, ICICI Bank assists you to manage your finances by providing various investment

options ranging from ICICI Bank Tax Saving Bonds to Equity Investments through Initial

Public Offers and Investment in Pure Gold. ICICI Bank facilitates following investment

products:

 ICICI Bank Tax Saving Bonds

 Government of India Bonds

 Investment in Mutual Funds

 Initial Public Offers by Corporates

 Investment in "Pure Gold"

 Foreign Exchange Services

 Senior Citizens Savings Scheme, 2004

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

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

Internet

41
 Anywhere Banking
ICICI Bank is the second largest bank in the country. It services a customer accounts

through a multi-channel access network. This includes branches and extension

counters, ATMs, call center and internet banking.

Thus, one can access the various services ICICI Bank has to offer at anytime, anywhere and

from anyplace. To learn more about the various channels, please click on the topic of your

interest mentioned in the left menu.

 AnyWhere Banking is a highly secure and convenient system for online, real-time inter

branch transactions across the Bank. 

 This system has facilitated Any-where Banking facility through all our Branches and

Extension Counters.

 This system has enabled us to launch host of customer friendly services.

 - ATMs : Installation of ATMs at each of our branches/ extension counters, Offsite locations

is in process, out of which 74 onsite ATMs have already been commissioned.

Loans
42
 1. Home Loans

2. Personal Loans

3. Car Loans

4. Commercial Vehicle Loans

Home loan

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

unbeatable benefits to its customers - Doorstep Service, Simplified Documentation and

Guidance throughout the Process.  It's really easy !

Personal Loan

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

Personal Loans are easy to get and absolutely hassle free. With minimum documentation

you can now secure a loan for an amount upto Rs. 15 lakhs.

Car Loan

The most preferred financier for car loans in the country. Network of more than 1000

channel partners in over 200 locations. Tie-ups with all leading automobile manufacturers to

ensure the best deals. Flexible schemes & quick processing.

Commercial Vehicle Loans

43
Range of services on existing loans & extended products like funding of new vehicles,

refinance on used vehicles, balance transfer on high cost loans, top up on existing loans,

Xtend product, working capital loans & other banking products.

Cards
44
 1. Credit Card

2. Travel Card

3. Debit Cards

4. Corporate Cards

5. Prepaid Cards

6. Purchase Card

7. Business Card

Credit card

ICICI Bank Credit Cards give you a smart way to shop, and offer you flexibility and

convenience in managing your finances. Choose from a wide range of credit cards designed

to cater to your specific lifestyle requirements.

Travel card

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

with US Dollar, Euro, Pound Sterling or Swiss Francs; Looking for security and convenience;

take ICICI Bank Travel Card. Issued in duplicate. Offers the Pin based security. Has the

convenience of usage of Credit or Debit card.

Debit card

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

their bank account around the clock, around the world. The ICICI Bank Debit Card can be

45
used for shopping at more than 3.5 Lakh merchants in India and 24 million merchants

worldwide.

Carporat card

ICICI Bank Corporate Cards offer better management of employee's travel and entertainment

expenditure; control on employee spends and facilitates cashless transactions for the

employee and the corporate.

Prepaid card

ICICI Bank brings to you a complete bouquet of prepaid cards providing payment

solutions at your fingertips. ICICI Bank prepaid cards are a safe & convenient way for

associate payments, disbursements, gifting & small ticket transactions. Prepaid cards are

available on a VISA platform thus providing accessibility to over one lakh merchant

establishments & cash withdrawal from all VISA ATMs in India.

Purchase Card

The ICICI Bank Purchase Card is a card based payment solution that streamlines and

effectively controls procurement processes of corporates. Purchase card can be used for

expenses like Travel & Entertainment (T&E), Telecommunications, MRO, Office products,

Professional services & Utility payments. A credit limit is assigned to the corporate on the

card and the corporate can thereafter use the card for making payments to all vendors &

suppliers. The corporate gets a credit period of up to 50 days and can thereafter repay ICICI

Bank as per the billing due date. And ICICI Bank Purchase card can be used on any VISA or

MasterCard Network.

Business card

The ICICI Bank Business Card is aimed at SMEs as an enabler for their business.

46
The Business card is a smart alternative to cheques, cash, and personal credit cards. With its

purchasing convenience, cost savings, available credit, and detailed reporting facilities, the

ICICI Bank Business Credit Card offers what your business needs to stay on top.

Demat Services
ICICI Bank Demat Services boasts of an ever-growing customer base of over 16.29 lacs
customer base as on 30.09.09 account holders. In our continuous endeavor to offer best of the
class services to our customers we offer the following features:

e-Instructions: You can transfer securities 24 hours a day, 7 days a week through Internet &
Interactive Voice Response (IVR) at a lower cost. Now with "Speak to transfer", you can also
transfer or pledge instructions through our customer care officer.

Digitally Signed Statement: Receive your account statement and bill by email.

Corporate Benefit Tracking: Track your dividend, interest, bonus through your
account statement.

Mobile Request: Access your demat account by sending SMS to enquire about
Holdings, Transactions, Bill & ISIN details.

Mobile Alerts: Receive SMS alerts for all debits/credits as well as for any request
which cannot be processed.
Dedicated customer care executives specially trained at our call centre, to handle all your
queries.
Countrywide network of over 580 branches, you are never far from an ICICI Bank
Demat Services outlet

Mobile Banking

47
 Mobile Banking we have an option to remain updated while we are on the move,
without even having to make a phone call or a visit or logging on the Internet. ICICI Bank
Mobile Banking for Demat Accounts can be divided into two broad categories:
 Request facility
 Alter facility
The registration is common for both facilities. Please fill Mobile Alerts Registration
Form and submit to any ICICI Bank branch offering demat services. The facility is
completely FREE. You are not charged a single rupee by ICICI Bank for alerts received by
you.
Request Facility
Through this facility, you can query for demat account information in respect of your
demat account anytime at your convenience. You can enquire for:
 Holdings
 Transactions Status
 Bill Details
 ISIN Search
In Request facility, to check your holdings you can use any scrip descriptor like
Company name, Webtrade scrip code, NSE symbol, BSE code in the message
Alert Facility
Through this facility, you will receive SMS alert from ICICI Demat on the following
events:
 Demat account getting credited
 Demat account getting debited
 Pledge creation

Phone Banking
A user friendly automated service menu offers you convenient access to your account
coupled with security as, all your transactions are protected by a ATM Pin - The Personal

48
 password to your Banks & Credit card Account and Tpin for your Demat Account. But if you
do need any assistance our officers will be glad to help you.

Self Phone Banking (IVR) access Mechanisms are as follows:

 For Deposits -The customer would need to key-in his ATM/Debit Card Number and its
corresponding ATM PIN.
 For Demat Account Holders -The customer would need to key-in his 14 Digit Demat
Account Number and its TPIN.
 For Bond Account Holders -The customer would need to key in his Bonds holder Number
only.
 Services offered are listed below -
 Banks Functionalities:
 Enter Debit Card number + ATM PIN
Instant Readout: Available Balance, Funds in Clearing (Dynamic).

NRI Banking
In NRI banking which person he is not resident in India that person it is very help full
because sometime he is send his money in India

With a view to attract the savings and other remittance into India through banking
channels from the person of Indian Nationality / Origin who are residing abroad and bolster
the balance of payment position, the Government of India introduced in 1970 Non-
Resident(External) Account Rules which are governed by the Exchange Control Regulations

Internet Banking

ICICI Bank.com uses the sophisticated multi layered architecture with digital
certification from Verisign and 128 bit encryption facility to ensure security of your online
49
 transactions and confidentiality of your data.
However the following information is provided as a guide to assist you in protecting the
information on your computer. It is not an exhaustive list and is intended for information
purposes only.

 You need to enter your Internet Banking User id and password each time you access your
internet banking account. Since your access is protected by this password it is very important
that you protect your password, by making it known ONLY to you.
 The system prompts you to change the password on first time login. We recommend that you
change both login and transaction password.
 Your password must be atleast 8 characters.Passwords are case sensitive.
 Do not use your date of birth, telephone number, address, your name or the name of a friend
or relative in your password.
 Your internet banking account is locked in case of 3 wrong tries on entering user id and
password.
 Passwords are case sensitive.
 Ensure that you are not observed while entering the password.
 Never leave your computer unattended while you are logged in to ICICI Bank.com
 Always Logoff from Internet Banking upon completion of your session. Use the Log out
button for closing the session. It is preferable not to shut the window to Log off.
 Disable the option on browsers for storing user names and passwords. You can refer to the
help section available on your browser for instructions

ATM services
ATM
ICICI Bank's 24 Hour ATM network is one of the largest and most widespread ATM
Network in India. Our ATMs are located in commercial areas, residential localities, major

50
petrol pumps, airports, near railway stations and other places which are conveniently
accessible to our customers.
ICICI Bank ATMs features user-friendly graphic screens with easy to follow
instructions. We have introduced ATMs which interact with customers in their local language
for increased convenience.
Following are the features available on our ATMs, which can be accessed from
anywhere at anytime.
Cash Withdrawal: Withdraw upto Rs. 25,000/- per day from your account (50,000 for
HNI's). Fast Cash option provides the facility of withdrawing prefixed amounts. Ultra Fast
Cash option allows you to withdraw Rs.3000/- in one shot.
Cash Withdrawal: Withdraw upto Rs. 25,000/- per day from your account (50,000 for
HNI's). Fast Cash option provides the facility of withdrawing prefixed amounts. Ultra Fast
Cash option allows you to withdraw Rs.3000/- in one shot.
Balance Enquiry : Know your ledger balance and available balance
Mini Statement : Get a printout of your last 8 transactions and your current balance.

Chapter 4

Finding and Analysis

51
 Market Share amongst private players

ANALYSIS AND INTERPRETATION

1. Educational Qualification

52
Educational HSC Graduate Professionals Other Total
qualification

Numbers of 22 95 81 2 200
Respond
ants

Interpretation
The study shows that the graduates and professional are the majority of
the prospective clients and that is what company is also looking for the future
customers.

53
2. Analysis of Income Group per annum

Income Group Nos. of

sample

Less than 1 Lakh 32

1 Lakh to 2.5 Lakh 92

2.5 Lakh to 4 Lakh 64

More than 4 Lakh 12

Total 200

Interpretation
According to the study-conducted majority of the population in
Nanded are in income group of Rs.1,00,000 lakh to 2,50,000 lakh which can
be more potential for the Company.

3. Do you know about Type of Banking?

54
 Awareness of Banking No. Of Sample

Yes 200

No 50

Total 250

4. Investment Preference in ICICI Company?

Choice of preference Preference of investment No. of Responses

55
 Ist preference Saving account 100

IInd preference Fixed Account 80

IIIrd preference Investment 30

IV th preference Salary account 40

Interpretation
Though the Banking Sector is booming, more than half of the
population is still away from this and most of the people are investing for the
purpose of life Saving A/c and Fixed A/c.

5. Parameters of top most Banking companies according to customers.

56
Parameter of USP ICICI HDFC Axsis ING TOTAL

Security of money 16 20 14 10 6
60

Brand name 26 18 22 10 7
46

Lone return 22 14 20 8 6
64

TOTAL 64 58 44 34 200

Interpretation
From the above graph it can be concluded that most of the respondents are
aware about the other private player and they are ready to invest their money with
these companies.

Literature Review
57
ICICI Bank Credit Cards: Excellent Offers With Feasible Terms And

Conditions

Article sachin sanokh

The main advantage of carrying a card lies in the fact that, it is easy to carry and is

also safe. What is most notable here is that these cards come preloaded with certain line of

credits that is provided by the issuer. Anyone who uses it, is also liable to pay back the

amount spent to their respective banks along with interest, within a stipulated period of time.

Sometimes it also comes with various offers like frequent flyer points, gift certificates as well

as cash back offers.

Coming to the market point of view, a number of banks have come up with such alternative

payment schemes. For instance, the ICICI Bank credit cards and the Deutsche Bank credit

cards have got a considerable response from people because of their multiple offers and easy

accessibility. As for the offers, it has a long list of lucrative offers ranging from global

emergency assistance services, lifetime free cards, travel discounts etc. Other than this, it also

provides special offers like monthly EMI payments, insurance plans like family plus that is

flexible enough to support all the members of your family. Sometimes it also comes up with

exclusive discount offers on branded products. For instance, it provides 50% discount on

Reebok shoes.

Infact, ICICI Bank credit cards have extensive offers on almost every field starting from

58
sports to jeweleries and food plazas to PVRs.. One of the famous offer that has created

headlines for its long list of lucrative terms and conditions is the Titanium Golf offer. Under

this offer, anyone having an ICICI card can be assisted by only one guest every time. What is

most appreciating is the fact that, there are no limits to the number of days any card holder

wants to play. Neither does it require any advanced payments or cancellation fees. This card

is easily available and can be booked just two days in advance. Other than this, it also has

various other value added services like bill pay service, health insurance services, merchant

services etc.

Unlike the ICICI Bank credit cards, various other banks have also come up with such options

with distinctive offers and features. In this context, the Deutsche Bank credit cards, have

come up with excellent offers that have created waves in the market. The most impressive

fact about this card is that, it provides easy loan options. The subscriber can now take a loan

or convert it into EMI's. It consists of db EMI's also that helps the subscriber to make big

purchases and also helps him/her to pay it back in small flexible EMI's. Other than this, what

is more stunning is the fact that it does not require any documentation. The tenure of the card

can be changed as and when required and it also has the option of pre-closure that can be

done any time. What is more impressive is, that, no-a-days even carrying a card is not always

necessary. You can even opt for online credit card options. The main advantage of online

banking is that, it can be accessed anywhere. All you need to do is log on to any of the

Internet banking websites and fill up a form to register for online credit cards.

Ensure your future with insurance policies

59
 Article Rajan sahi

When it comes to the insurance policies, trust and confidence of a person interested in buying

one, gets tested largely. However, despite attending this issue with due care and caution,

people still make mistake of choosing a wrong policy that does not suits to their needs nor

does it fits in their budgetary bill. Some two decades back the insurance industry in the Indian

economy was not that developed. There were only few recognizable names that were

monopolizing this segment. However, inception of Foreign Direct Investment in the

economic plans opened gates for private players from almost every corner of the world to

come in India and try their luck in Insurance business here.

Meanwhile, the event also triggered the surge of many domestic corporate players who were

interested in exploring the untapped insurance potential locked in the Indian masses. Many

players such Reliance two wheeler insurance, Iffco-Tokio general insurance, ICICI

Lombard and many more rose to the occasion and went on to occupy a special place in the

insurance Segment of the country

The story was going good until recessional blues surfaced throwing every possible business

equation of the above-mentioned players in turmoil. Sabotaged by liquidity crisis, insurance

industry in India and abroad, went for a crash. However, after a prolonged stretch of

suffering, these insurance bodies bounced back. Recovery period soon followed as

recessional chills also got diluted.

Foreseeing the green shoots, many players restructured their business plans and strategies and

employed them effectively. Fortunately for them, resurgence was definitive and so was the

60
end-result. Interestingly, companies such as Reliance & Iffco Tokio general insurance did

quite an outstanding job by bouncing back. In fact the customer base too reacted favourably

to their scheme of things and suddenly business profits started pouring in although profit

figures were not exactly the same as they were before the recession hit the shores but even

that is turning out to be encouraging enough. Talk about faith, and even this element was also

getting restored.

Talking from a business point of view, policies like Reliance two wheeler insurance proved

to be a success and that is despite the fact that auto-industry till some time back was going

through a low phase. This product appealed to their senses and no wonder made history in

terms of success. The policy manufacturers too realized the fact that after recession, it will

not be the cheesy one-liners advertisements & billboards but the actual product service that

will be drawing in buyers. They worked on it and made it a success.

The reason for the recent success of Iffco Tokio general insurance product is also more or

less same. The market was relatively fresher and invited out-of-box insurance product ideas

that are primarily focused to deliver service assumed satisfactory according to user level.

CONCLUSIONS

61
 Though the Banking Sector is booming, more than half of the population is still away from

this and most of the people are not having accurate knowledge about ICICI.

The size of the market has grown and the size of the insurable population in India is indeed

vast and the existing player has managed to cover about one-fourth of it. The opportunities

before the players are therefore plenty in terms of target audience.

The increasing interest rates, the emerging Banking and entry of new player like Axsis,

HDFC Bank, HSDC Bank and ING gives a signal that insurance in an lucrative industry.

Also, the promise of e-commerce is some of the other opportunities knocking at the doors of

the insurance majors.

From analysis of the questionnaire it can be concluded that Banking Sector is booming

 SBI is a market leader & facing stiff competition from Private Insurance Company.

 After during survey it can be concluded that most people are aware about the Banking

 Most of the people are not still aware from the benefits of ULIP and are interested in getting

information.

 As private players are also in Banking, investors are looking for the brand name and return of

that company where they want to invest their money.

 From the survey it has been found that, HDFC Bank has just entered inn the market but most

of the customer are ready to invest in that company. For customer ICICI Bank one of the big

business empire of India.

 ICICI Bank is having a good Brand image in the minds of customers and according to them

ICICI Bank can be a safe place to invest their money.

Questionnaire:-
 Do you know about ICICI Financial services?
62
 Do you have ICICI bank account?

 Do you Invested your Money in ICICI financial services?

 Do you provide very good services?

 In which bank do you have bank account?

 Why you choose ICICI financial services?

 Do you have another account in other bank?

 Which services do you provide your financial services?

Glossary

63
Accountability: when a person has been assigned the necessary authority and responsibility
to undertake a particular task, he is accountable or answerable to others for his performance.

Authority: The right to give orders and power to extract obedience.

Bonus: An extra payment given to employees beyond their wage/salary.

Branch mark: A measurable variable used as a baseline or reference in evaluating the

performance of an organization.

Beneficiary: A person who is not a party to a contract who is designed by a party to receive
the benefits of the contract

Career Planning: The process by which an individual selects career goals and he path to
achieve these goals.

Communication: The transfer of information from one person to another.

Compensation: The reward that employees receive in exchange for their contribution to an
organization.

Conflict: It occurs when the parties involved, practices perceive an incompatibility of goals
or difference of opinions.

Co-ordination: The task of integrating efforts to ensure successful achievement of an

objective.

Discipline: A force that prompts individuals or groups to observe the rules, regulations and
procedures which are deemed to be necessary for effective functioning of an organization.

Deflation: It can be define as a situation where price of essential goods and services are
decaling over time.

E- commerce: Conducting business over electronic network, usually via the internet.

Economic of scale: It refers to decreasing of cost of overall operation and performance by

virtue of large size of operations.

References

Article

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  Article use for authors. sachin sanokh, Rajan sahi, John and Addi varma.

 Business research method. ICFAI University.

 ICFAI journal of banking.

 Business world magazine.

 Performance management concept.

Book

 Banking overview book. ICFAI university

 Privet Banking. ICFAI university

 Overview of Banking. ICFAI University.

 Private Banking an Introduction. B SUJATA NANCY JOHN

Web Side

 www.icicibank.com

 www.performance-appraisal.org

Appendix

1) Name of the person______________________________________________

Address_______________________________________________________
Phone No._____________________________________________________
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 Education- HSC [ ] Graduate [ ] Professional [ ] Other [ ]
Annual Income- Less than 1,00,000 lakh [ ]
1,00,000 to 2,50,000 lakh [ ]
2,50,000 to 4,00,000 lakh [ ]
More than 4,00,000 lakh s [ ]
2) Do you know about Banking?
Yes [ ] No [ ]
3) Why you invest in Banking?
Saving a/c [ ] Fixed a/c [ ] Investment [ ] salary a/c[ ]

4) Which is the factor you considered most while taking any Bank ?
Brand name of the company [ ] Past Returns [ ] Security of money [ ]
5) Mention top five Banking companies you know?
1. -------------- 2. -------------- 3. ----------------- 4. --------------- 5. --------
6) How would you Interest rate in ICICI?
Fair [ ] Average [ ] Good [ ] Best [ ]
7) Do you know about the Type of Banking?
Yes [ ] No [ ]

8) If yes, which Bank you would like to take and why?

Axsis [ ] ICICI [ ] HDFC [ ] ING [ ] HSBC[ ]

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