A

PROJECT REPORT ON

‘CUSTOMER SATISFACTION ’

FOR

ICICI BANK

SUBMITTED TO

UNIVERSITY OF PUNE

IN PARTIAL FULFILMENT OF TWO YEAR FULL TIME

COURSE
MASTER OF BUSINESS ADMINSTRATION (MBA)

SUBMITTED BY

DEEPAK KUMAR MISHRA

(BATCH 2009-2011)

ROLL NO-234

RAJMATA JIJAU SHISHAN PRASARAK MANDAL’S

INSTITUTE OF COMPUTER AND MANAGEMENT RESEARCH (ICMR),

DUDULGAON, PUNE-412105

UNDER GUIDENCE OF

PROF. SAMBHAJI DORGE

JULY 2010
 ACKNOWLEDGEMENTS

If words are considered to be signs of gratitude then let these words Convey the
very same My sincere gratitude to ICICI BANK for providing me with an opportunity
to work with bank and giving necessary directions on doing this project to the best of
my abilities. I am highly indebted to Mr. DEEP CHANDRA (RM) company project
guide, who has provided me with the necessary information and also for the support
extended out to me in the completion of this report and his valuable suggestion and
comments on bringing out this report in the best way possible.
I also thank Prof. SAMBHAJI DORGE,who has sincerely supported me with the
valuable insights into the completion of this project.
I am grateful to all faculty members of my college and my friends who have helped
me in the successful completion of this project.

Thanking You

Deepak Kumar Mishra

 INDEX

PAGE
SR.NO. CHAPTER TITTLE NO.

1 INTRODUCTION

2 INDUSTRY/SECTOR PROFILE

3 COMPANY PROFILE

4 PRODUCT PROFILE

5 LITERATURE SURVEY

6 OBJECTIVE AND SCOPE OF THE PRODUCT

7 RESEARCH METHODOLOGY

8 DATA ANALYSIS &INTERPRETATION

9 OBSERVATION & FINDINGS

10 SUGGENTION AND RECOMMENDATION

11 CONCLUSION

13 BIBLIOIGRAPHY

14 QUESTIONNAIRES
 EXECUTIVE SUMMARY

Private banking is a concept which is new and fast emerging in the world of
banking where changes have become a necessity in order for banks to survive in this
competitive environment vis-à-vis not only from the public and private sector banks but
also from the foreign banks. The objective of the research is to explore the various
products, which a private banker deals into and the systematic process involved to match
client requirements with the right kind of product.

Through this research one of the main objectives is to explore the reason why most
of the banks are injecting private banking as business profile to their set of service
offerings.

Though private banking evolved in late 80’s in Asia, in India its not more than 5
years old. ICICI started it in Aug 2002 and since then it has been a remarkable success.
Today there are enormous solutions to cater client needs but what suits best to a client is
where private banking fits in. Every client will have different needs, liking and
preferences. So a customized portfolio for every client is the need of the day.

This research will highlight more on the product portfolio of ICICI Private Banking,
how they have changed or innovatively structured to be attractive and competitive.
 INTRODUCTION

The banking section will navigate through all the aspects of the Banking System in
India. It will discuss upon the matters with the birth of the banking concept in the
country to new players adding their names in the industry in coming few years.

The banker of all banks, Reserve Bank of India (RBI), the Indian Banks Association
(IBA) and top 20 banks like IDBI, HSBC, ICICI, PNB, etc. has been well defined under
three separate heads with one page dedicated to each bank.

However, in the introduction part of the entire banking cosmos, the past has been well
explained under three different heads namely:

• History of Banking in India

• Nationalization of Banks in India

• Scheduled Commercial Banks in India

The first deals with the history part since the dawn of banking system in India.
Government took major step in the 1969 to put the banking sector into systems and it
nationalized 14 private banks in the mentioned year. This has been elaborated in
Nationalization Banks in India. The last but not the least explains about the scheduled
and unscheduled banks in India. Section 42 (6) (a) of RBI Act 1934 lays down the
condition of scheduled commercial bank.
 Banking structure in India

SCHEDULED BANKS IN INDIA

(A) Scheduled Commercial Banks

Public sector Banks Private sector Foreign Banks in Regional Rural Bank
Banks India
(28) (27) (29) (102)
• Nationalized • Old Private
Bank Banks
• Other Public • New Private
Sector Banks Banks
(IDBI)
• SBI and its
Associates

(B) Scheduled Cooperative Banks

Scheduled Urban Cooperative Scheduled State Cooperative

Banks (55) Banks (31)

Here we more concerned about private sector banks and competition among them. Today,
there are 27 private sector banks in the banking sector: 19 old private sector banks and 8
new private sector banks.
These new banks have brought in state-of-the-art technology and aggressively marketed
their products. The Public sector banks are facing a stiff competition from the new private
sector banks.

The banks which have been setup in the 1990s under the guidelines of the Narasimham
Committee are referred to as NEW PRIVATE SECTOR BANKS.

HISTORY OF BANKING IN INDIA

Without a sound and effective banking system in India it cannot have a healthy
economy. The banking system of India should not only be hassle free but it should be
able to meet new challenges posed by the technology and any other external and internal
factors.

For the past three decades India's banking system has several outstanding achievements
to its credit. The most striking is its extensive reach. It is no longer confined to only
metropolitans or cosmopolitans in India. In fact, Indian banking system has reached
even to the remote corners of the country. This is one of the main reasons of India's
growth process.

The government's regular policy for Indian bank since 1969 has paid rich dividends with
the nationalization of 14 major private banks of India.

Not long ago, an account holder had to wait for hours at the bank counters for getting a
draft or for withdrawing his own money. Today, he has a choice. Gone are days when
the most efficient bank transferred money from one branch to other in two days. Now it
is simple as instant messaging or dial a pizza. Money have become the order of the day.

The first bank in India, though conservative, was established in 1786. From 1786 till
today, the journey of Indian Banking System can be segregated into three distinct
phases. They are as mentioned below:

• Early phase from 1786 to 1969 of Indian Banks

 • Nationalization of Indian Banks and up to 1991 prior to Indian banking sector
Reforms.

• New phase of Indian Banking System with the advent of Indian Financial &
Banking Sector Reforms after 1991.

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

Phase I

The General Bank of India was set up in the year 1786. Next came Bank of Hindustan
and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of
Bombay (1840) and Bank of Madras (1843) as independent units and called it
Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of
India was established which started as private shareholders banks, mostly Europeans
shareholders.

In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab
National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and
1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank,
and Bank of Mysore were set up. Reserve Bank of India came in 1935.

During the first phase the growth was very slow and banks also experienced periodic
failures between 1913 and 1948. There were approximately 1100 banks, mostly small.
To streamline the functioning and activities of commercial banks, the Government of
India came up with The Banking Companies Act, 1949 which was later changed to
Banking Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965).
Reserve Bank of India was vested with extensive powers for the supervision of banking
in India as the Central Banking Authority.

During those day’s public has lesser confidence in the banks. As an aftermath deposit
mobilization was slow. Abreast of it the savings bank facility provided by the Postal
department was comparatively safer. Moreover, funds were largely given to traders.
Phase II

Government took major steps in this Indian Banking Sector Reform after independence.
In 1955, it nationalized Imperial Bank of India with extensive banking facilities on a
large scale especially in rural and semi-urban areas. It formed State Bank of India to act
as the principal agent of RBI and to handle banking transactions of the Union and State
Governments all over the country.

Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on 19th
July, 1969, major process of nationalization was carried out. It was the effort of the then
Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country
was nationalized.

Second phase of nationalization Indian Banking Sector Reform was carried out in 1980
with seven more banks. This step brought 80% of the banking segment in India under
Government ownership.

The following are the steps taken by the Government of India to Regulate Banking
Institutions in the Country:

• 1949: Enactment of Banking Regulation Act.

• 1955: Nationalization of State Bank of India.

• 1959: Nationalization of SBI subsidiaries.

• 1961: Insurance cover extended to deposits.

• 1969: Nationalization of 14 major banks.

• 1971: Creation of credit guarantee corporation.

• 1975: Creation of regional rural banks.

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

After the nationalization of banks, the branches of the public sector bank India rose to
approximately 800% in deposits and advances took a huge jump by 11,000%.

Banking in the sunshine of Government ownership gave the public implicit faith and
immense confidence about the sustainability of these institutions.

Phase III

This phase has introduced many more products and facilities in the banking sector in its
reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was
set up by his name which worked for the liberalization of banking practices.

The country is flooded with foreign banks and their ATM stations. Efforts are being put
to give a satisfactory service to customers. Phone banking and net banking is introduced.
The entire system became more convenient and swift. Time is given more importance
than money.

The financial system of India has shown a great deal of resilience. It is sheltered from
any crisis triggered by any external macroeconomics shock as other East Asian
Countries suffered. This is all due to a flexible exchange rate regime, the foreign
reserves are high, the capital account is not yet fully convertible, and banks and their
customers have limited foreign exchange exposur
 INDUSTRY/SECTOR PROFILE

The Indian banking market is growing at an astonishing rate, with

Assets expected to reach US$1 trillion by 2010. An expanding
economy, middle class, and technological innovations are all
contributing to this growth.

The country’s middle class accounts for over 320 million People. In
correlation with the growth of the economy, rising income levels,
increased standard of living, and affordability of banking products are
promising factors for continued expansion.

The Indian banking market is growing at an astonishing rate, with

Assets expected to reach US$1 trillion by 2010. An expanding
economy, middle class, and technological innovations are all
contributing to this growth.

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

Focusing on the expansion of retail and rural banking. Players
are becoming increasingly customer - centric in their approach,
which has resulted in innovative methods of offering new banking
products and services. Banks are now realizing the importance
of being a big player and are beginning to focus their attention on
mergers and acquisitions to take advantage of economies of
scale and/or comply with Basel II regulation.“Indian banking
industry assets are expected to reach US$1 trillion by 2010 and are
poised to receive a greater infusion of foreign capital,” says Prathima
Rajan, analyst in Celent's banking group and author of the report.
“The banking industry should focus on having a small number of large
players that can compete globally rather than having a large number
of fragmented players."

COMPANY PROFILE

HISTORY

ICICI Bank (formerly Industrial Credit and Investment Corporation of India). ICICI
Limited was established in 1955 by the World Bank, the Government of India and the
Indian Industry, for the promotion of industrial development in India by giving project
and corporate finance to the industries in India.

ICICI Bank has grown from a development bank to a financial conglomerate and has
become one of the largest public financial institutions in India. ICICI Bank has financed
all the major sectors of the economy, covering 6,848 companies and 16,851 projects. As
of March 31, 2000, ICICI had disbursed a total of Rs.1,13,070 crores, since inception.

ICICI BANK FACT FILES:

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

Network: 530 branches

ATMs: Over 1,880

Abroad Subsidiaries: United Kingdom and Canada

Abroad branches: Singapore and Bahrain

Representative offices: United States, China, United Arab Emirates, and Bangladesh
and South Africa.

ICICI Bank is India's second-largest bank with total assets of about Rs. 2,513.89 bn
(US$ 56.3 bn) at March 31, 2006 and profit after tax of Rs. 25.40 bn (US$ 569 mn) for
the year ended March 31, 2006 (Rs. 20.05 bn (US$ 449 mn) for the year ended March
31, 2005). ICICI Bank has a network of about 614 branches and extension counters and
over 2,200 ATMs. ICICI Bank offers a wide range of banking products and financial
services to corporate and retail customers through a variety of delivery channels and
through its specialized subsidiaries and affiliates in the areas of investment banking, life
and non-life insurance, venture capital and asset management. ICICI Bank set up its
international banking group in fiscal 2002 to cater to the cross border needs of clients
and leverage on its domestic banking strengths to offer products internationally.

ICICI Bank (BSE: ICICI) ( Industrial Credit and Investment Corporation of India) is
India's largest private sector bank in market capitalization and second largest overall in
terms of assets. Bank has total assets of about USD 100 billion (at the end of March
2008), a network of over 1,491 branches, 22 regional offices and 49 regional processing
centers, about 4,485 ATMs (at the end of September 2008), and 24 million customers (at
the end of July 2007). ICICI Bank offers a wide range of banking products and financial
services to corporate and retail customers through a variety of delivery channels and
specialized subsidiaries and affiliates in the areas of investment banking, life and non-
life insurance, venture capital and asset management. (These data are dynamic.) ICICI
Bank is also the largest issuer of credit cards in India. ICICI Bank has got its equity
shares listed on the stock exchanges at Kolkata and Vadodara, Mumbai and the National
Stock Exchange of India Limited, and its ADRs on the New York Stock Exchange
(NYSE).

The Bank is expanding in overseas markets and has the largest international balance
sheet among Indian banks. ICICI Bank now has wholly-owned subsidiaries, branches
and representatives offices in 18 countries, including an offshore unit in Mumbai. This
includes wholly owned subsidiaries in Canada, Russia and the UK (the subsidiary
through which the hisave savings brand is operated), offshore banking units in Bahrain
and Singapore, an advisory branch in Dubai, branches in Belgium, Hong Kong and Sri
Lanka, and representative offices in Bangladesh, China, Malaysia, Indonesia, South
Africa, Thailand, the United Arab Emirates and USA. Overseas, the Bank is targeting
the NRI (Non-Resident Indian) population in particular.

ICICI reported a 1.15% rise in net profit to Rs. 1,014.21 crore on a 1.29% increase in
total income to Rs. 9,712.31 crore in Q2 September 2008 over Q2 September 2007. The
bank's current and savings account (CASA) ratio increased to 30% in 2008 from 25% in
2007.

ICICI Bank currently has subsidiaries in the United Kingdom, Russia and Canada,
branches in Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai International Finance
Center and representative offices in the United States, United Arab Emirates, China,
South Africa and Bangladesh. Our UK subsidiary has established a branch in Belgium.
ICICI Bank is the most valuable bank in India in terms of market capitalization.
 ICICI Bank's equity shares are listed in India on the Bombay Stock Exchange and the
National Stock Exchange of India Limited and its American Depositary Receipts
(ADRs) are listed on the New York Stock Exchange (NYSE).

ICICI Bank has formulated a Code of Business Conduct and Ethics for its Directors
and employees. At June 5, 2006, ICICI Bank, with free float market capitalization of
about Rs. 480.00 billion (US$ 10.8 billion) ranked third amongst all the companies
listed on the Indian stock exchanges.

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial
Institution, and was its wholly owned subsidiary. ICICI's shareholding in ICICI Bank
was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity
offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's
acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and
secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002.
ICICI was formed in 1955 at the initiative of The World Bank, the Government of India
and representatives of Indian industry.

The principal objective was to create a development financial institution for

Providing medium-term and long-term project financing to Indian businesses. In the
1990s, ICICI transformed its business from a development financial institution offering
only project finance to a diversified financial service group offering a wide variety of
products and services, both directly and through a number of subsidiaries and affiliates
like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or
financial institution from non-Japan Asia to be listed on the NYSE.

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the
merger of ICICI and two of its wholly owned retail finance subsidiaries, ICICI Personal
Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The
merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the
High Court of Gujarat at Ahmadabad in March 2002, and by the High Court of
Judicature at Mumbai and the Reserve Bank of India in April 2002. Consequent to the
merger, the ICICI group's financing and banking Operations, both wholesale and retail,
have been integrated in a single entity.
Free float holding excludes all promoter holdings, strategic investments and Cross
holdings among public sector entities.

VISION

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

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

 Expand the frontiers of our business globally.

 Play a proactive role in the full realization 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

RESEARCH OBJECTIVE

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

2. To identify the major attributes of customer satisfaction.

3. To study customer perception about ICICI BANK Ltd.

4. To identify and study the various ways of ensuring customer satisfaction adopted by
ICICI BANK Vs HDFC & SBI.
PRODUCT AND SERVICES

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

banking and NRI banking services.

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

Business banking – Business banking services of ICICI Bank are exhaustive. Project
financing, deal assessment, and land evaluation are investment banking services offered
to corporate clients. Global trade and cash management transaction services facilitate
remittances and receipts across important cities. Capital market and custodial services
enable business houses to participate in equity trading and transfer across major stock
markets of world.

CUSTOMER

ICICI bank targets all segment of customer with various types of products and services.
I interacted with a a lot of customers and collect their feedback on the given services of
company, and feedback are positive response from all point of view. Customers are
beneficiary from both sides monetary as well as non monetary. The bank targets to add
nearly 500,000 customers under the new scheme in the next one year and plans to offer
auto loans through the new online channel in the future, ICICI Bank's Executive
Director, V Vaidyanathan, said here.

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

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

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

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

• ICICI bank undertakes not to disclose the information provided by the customers
to any person, unless such action is necessary to:
• Conform to legal requirements or comply with legal process;
• Protect and defend ICICI bank's or its affiliates rights, interests or property;
• Enforce the terms and conditions of the products or services; or
• Act to protect the interests of ICICI bank, its affiliates, or its members,
constituents or of other persons.

COMPETITOR

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

HDFC Bank Ltd. is a commercial bank of India, incorporated in August 1994, after the
Reserve Bank of India allowed establishing private sector banks. The Bank was
promoted by the Housing Development Finance Corporation, a premier housing finance
company (set up in 1977) of India. HDFC Bank has 1,500 branches and over 2,890
ATMs, in 530 cities in India, and all branches of the bank are linked on an online real-
time basis. As of September 30, 2008 the bank had total assets of INR 1006.82 billion.

State Bank of India is the largest bank in India. It is also, measured by the number of
branch offices and employees, the second largest bank in the world.[citation needed]
The bank traces its ancestry back through the Imperial Bank of India to the founding in
1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian
Subcontinent. The Government of India nationalised the Imperial Bank of India in 1955,
with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of
India. In 2008, the Government took over the stake held by the Reserve Bank of
India.SBI provides a range of banking products through its vast network in India and
overseas, including products aimed at NRIs. With an asset base of $126 billion and its
reach, it is a regional banking behemoth. SBI has laid emphasis on reducing the huge
manpower through Golden handshake schemes and computerizing its operations.The
State Bank Group, with over 16000 branches , has the largest branch network in India. It
has a market share among Indian commercial banks of about 20% in deposits and
advances, and SBI accounts for almost one-fifth of the nation’s loans.There are some
other banks which gives challenging some how in the banking and service sectorthey
are:

• Allahabad Bank
 • Andhra Bank
• Bank of Baroda
• Bank of India
• Bank of Maharashtra
• Canara Bank
• Central Bank of India
• Corporation Bank
• Dena Bank
• IDBI Bank
• Indian Bank
• Indian Overseas Bank
• Oriental Bank of Commerce
• Punjab & Sind Bank
• Punjab National Bank
• Syndicate Bank
• UCO Bank
• Union Bank of India
• United Bank of India
• Vijaya Bank

ENVIRONMENT

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

TECHNOLOGY

ICICI use many type of advance technological software like Pinnacle 7.0 and
Pinnacle7.016.Among from this software ICICI bank uses the e-banking, core banking,
mobile banking electronic display sy ICICI Bank was using Teradata for its data
warehouse. However, due to its proprietary hardware, the cost of procurement,
upgrades and administration was soaring. The closed box architecture of Teradata
imposed restrictions on scalability. Secondly, querying and loading could not happen
simultaneously. Queries could only be run during business hours because the loading of
data had to take place during off-business hours. This meant that the refresh rate of
EDW was delayed, so queries may not reflect the most current data. ICICI Bank was
also dependent on Teradata for support and other activities: The bank was completely
tied down to that solution.

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

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

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

all the important parts in the company such as product planning, parts purchasing,
maintaining inventory and interacting with suppliers and customers.

ICICI InfoTech officials told a press conference here today that Orion Advantage
offered a set of business practice solutions for industry segments such as engineering,
auto ancillary, pharmaceuticals, chemicals and IT distribution. Besides the cost
advantage, the ERP package also came pre-configured. ICICI InfoTech had mapped the
processes specific to each industry segment into the package.

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

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

ICICI Infotech had signed up six customers so far for the package and hoped to garner a
15 per cent market share of the SME segment, whose number in the country was
estimated at 2.30 lakh.

Mr. K.S. Natarajan, Managing Director, Trident Pneumatics Pvt Ltd of Coimbatore, one
of the companies that had installed Orion Advantage, said that the company had tried
three other ERP packages, all of which had failed, before settling on Orion Advantage.
Mr Kunkalienkar said that ICICI Infotech planned to move the two development centers
in Chennai into a single location and double the staff strength from 300 now in the next
two years.

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

ERP Systems Integration

Pinnacle Software Solutions has the expertise and experience to assist you with your
enterprise systems integration. From developing your strategy, through implementation
and support, we bring the right combination of resources, management skillsets, and
technical know-how. We will help you successfully integrate your Enterprise Resource
Planning (ERP) systems into your overall business and technology infrastructure.

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

replacement of a legacy application and platform, we can help you improve your
financial, human resources, electronic mail, and other business systems. We work with
the leading ERP systems, including the latest versions of the Oracle and PeopleSoft
applications:

 General Ledger  Project Costing

 Accounts Payable  Human Resources
 Accounts Receivable  Payroll
 Purchasing  Benefits
 Asset Management  Compensation

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

ICICI Prudential Life Insurance Company Limited

ICICI Prudential life Insurance Company Limited was incorporated on 20th July
2000.The authorized capital of the company is Rs.2300 million and the paid up capital is
Rs.1500 million. The company is joint venture of ICICI (74%) and UK based company
Prudential Plc (26%). The company was granted certificate of registration for carrying
business, by Insurance Regulatory and Development Authority on 24th November 2000.
It commenced commercial operation from 19th December 2000 and becoming a leading
private sector life insurance company.
The company recognizes that the driving force for gaining sustainable competitive
advantage in this business is superior customer experience and investment behind the
brand. The company aims to achieve this by striving to provide world class service level
trough constant innovation in product, distribution channels and technology based
delivery.

Vision and Mission

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

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

• Understanding the needs of customers and offering them superior products and
service
• Building long lasting relationships with their partners
• Providing an enabling environment to foster growth and learning for their
employees

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

Board of Directors

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

Mr.K.V.Kamath (Chairman)
Mr. Mark Tucker
Smt. Lalita D. Gupte
Mr. Danny Bardin
Mrs. Kalpana Morparia
Shri M.P. Modi
Mr. John Caouette
Shri S.P.Subhedar, (Alternate Director to Mr. Danny Bardin)
Mr. Derek Stott, (Alternate Director to Mr. Mark Tucker)
Smt. Shikha Sharma, Managing Director
Management Team

Ms. Shikha Sharma, Managing Director

Mr. Kevin Wright, Executive Vice President - Sales & Distribution
Ms. Madhavi Soman, Chief - Strategic Initiatives
Mr. V. Rajagopalan, Appointed Actuary
Mr. Sandeep Batra, Chief Financial Officer & Company Secretary
Mr. Saugata Gupta, Chief - Marketing & Service
Mr. Shubhro J. Mitra, Chief - Human Resources
Corporate Office:

ICCI Prulife Towers,

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

ICICI Lombard General Insurance Company

ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between
ICICI Bank Limited and Canada based Fairfax Financial Holdings Limited. ICICI
Bank is India's second largest bank, while Fairfax Financial Holdings is a diversified
financial corporate engaged in general insurance, reinsurance, insurance claims
management and Investment management. Lombard Canada Ltd, a group company of
Fairfax Financial Holdings Limited, is one of Canada's oldest property and casualty
insurers. ICICI Lombard General Insurance Company received regulatory approvals to
commence general insurance business in August 2000.

Board Members

 Chairman
 Mr R Athappan, Director
 Mr B V Bhargava, Director
 Mr Dileep Choksi, Director
 Mr James F Dowd, Director
 Ms Lalita D Gupte, Director
 Ms Kalpana Morparia, Director
 Mr S Mukherji, Director
 Mr Chandran Ratnaswami, Director
 Mr H N Sinor, Director
 Mr Sandeep Bakhshi, Managing Director & CEO

Audit Committee

 Mr. S Mukherji, Chairman

 Mr. Dileep Choksi, Director
 Mr. James F Dowd, Director
 Mr. H.N. Sinor, Director

Investment Committee
  Mr. Chandran Ratnaswami, Chairman
 Ms. Kalpana Morparia, Director
 Mr. Sandeep Bakhshi,, Managing Director & CEO
 Mr. S Gopalakrishnan, Head – Investments
 Mr. Rakesh Jain, Head-Finance & Accounts
 Mr. Liyaquat Khan, Appointed Actuary

Board Governance Committee

 Ms. Kalpana Morparia, Chairperson

 Mr. Chandran Ratnaswami, Director
 Mr. H. N. Sinor, Director

Retail Segment of ICICI Lombard General Insurance :

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

Home, Motor and Travel insurances.

Health Insurance

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

Indian health Insurance sector. Be it the floater concept, the critical illness cover or the
tax gain policy, all these were first introduced by ICICI Lombard. It was also one of the
first general insurance companies in India to have a robust online system in place for
buying and renewing policies.

The various plans offered by ICICI Lombard include Family Floater Plan - where one
policy covers the entire family, Health Advantage Plus - where they cover OPD and
dental expenses, also help save maximum tax under section 80D and Critical Illness
plan - a special policy covering a list of critical illnesses. They also have a
basic Personal Accident Plan which covers against accidents. ICICI Lombard health
plans also provide coverage against terrorism.

Home Insurance

Home Insurance is actually one of the most neglected areas in the general insurance
category. Simply, because people in general, especially in India, do not give much
importance to it. However, in the recent years, due to the increase in awareness, and the
great extent of damage caused to property due to natural calamities and terrorism, it has
been gaining importance. The Home Insurance Policyoffered by ICICI Lombard covers
both the structure and the contents of the house. You can opt for either of the covers or
both. Unlike other policies, it also covers damage due to terrorist activities, loss of cash,
public liability, temporary resettlement and others.

Motor Insurance

As Motor Insurance is mandatory in India and is governed by the Motor Tariff Act, the
policies offered by various companies are more or less the same. There is not much
room for innovation in this category. ICICI Lombard too offers Car Insurance and Two
Wheeler Insurance. They are known to offer one of the best rates in the market. As the
entire buying process is online and is instant, without any submission of documents or
other formalities, people generally opt it for convenience.

Travel Insurance

Travel insurance is one of the most prominent sector of general insurance, especially
overseas travel insurance and student medical insurance. ICICI Lombard offers various
options in both the categories. The Overseas Travel Plans and Student Medical
Plans offered cover medical and non-medical expenses, including compensation for
flights hijacked and pre existing diseases in case of emergency. They charge on a per
day basis if the travel is more than 7 days. ICICI Lombard has tied up with United
Health Group to facilitate access to all its clinics while in U.S.

The Student Medical Plans are accepted in almost universities worldwide. They also
have a section in their website, University Search, where one can find specific plans for
specific universities.

All the above retail policies can be bought online, without any documentation through
their website www.icicilombard.com .One can not only buy, but also manage and renew
their insurance policies online.
NRI Services

ICICI Lombard has developed insurance policies for Non-resident Indians that can be
bought, renewed and tracked online.

Parents' Health Insurance covers hospitalization and medical expenses incurred by

parents of the policyholder in India. For parents' travelling outside India, ICICI Lombard
offers a Parents' Overseas Travel Insurance policy.
An NRI can insure his children/ dependents travelling abroad to study, under the Student
Medical Insurance plan. Likewise, the Home Insurance and Car Insurance schemes
enables an NRI to secure his assets in India.

Channels
Channel is the term used for the various approaches a company uses to tap its customers.
ICICI Lombard uses a multi channel approach to ensure the sales, service and other
allied activities are carried out in the most effective manner.
Retail

The Retail channel consists of sales executves, sales officers, brokers and agents. They
are the one who are in direct contact with the customers and bring the innovative
insurance solutions to their doorsteps.
Online

ICICI Lombard has developed a web-based system to meet all the pre and post-policy
transaction. One can get quotes, buy, renew and track their policies onlin e through the
website [www.icicilombard.com]. With the do-it-yourself architecture, the online
channel is fast, convenient, easy to understand and operate.

PRODUCT AND CUSTOMER SIGMENT

ICICI Bank offers wide variety of Deposit Products to suit your requirements. Coupled
with convenience of networked branches/ ATMs and facility of E-channels like Internet
and Mobile Banking, ICICI Bank brings banking at your doorstep. Select any of our
deposit products and provide your details online and our representative will contact you
for Account Opening.

SAVING ACCOUNTS
 ICICI Bank offers you a power packed Savings Account with a host of
convenient features and banking channels to transact through. So now
you can bank at your convenience, without the stress of waiting in
queues

SENIOR CITIZEN SERVICES

We understand that as you reach the age to retire, you do have certain
concerns … whether your hard earned money is safe and secure …
whether your investments give you the kind of returns that you need.
That's why we have an ideal Banking Service for those who are 60
years and above. The Senior Citizen Services from ICICI Bank has several advantages
that are tailored to bring more convenience and enjoyment in your life.

YOUNG STARS

It's really important to help children learn the value of finances and
money management at an early age. Banking is a serious business,
but we make banking a pleasure and at the same time children learn
how to manage their personal finances.

FIXED DEPOSITS

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

unbeatable features of the Fixed Deposit from ICICI Bank.

RECURRING DEPOSITS
When expenses are high, you may not have adequate funds to make big investments.
But simply going ahead without saving for the future is not an
option for you. Through ICICI Bank Recurring Deposit you can
invest small amounts of money every month that ends up with a
large saving on maturity. So you enjoy twin advantages- affordability and
higher earnings

HOME LOAN

The No. 1 Home Loans Provider in the country, ICICI Bank Home
Loans offers some unbeatable benefits to its customers - Doorstep
Service, Simplified Documentation and Guidance throughout the
Process. It's really easy.

PERSONAL LOANS

If you're looking for a personal loan that's easy to get, your search ends
here. ICICI Bank Personal Loans are easy to get and
absolutely hassle free. With minimum documentation you
can now secure a loan for an amount up to Rs. 15 lakhs.

CAR LOAN

The NO 1 financier for car loans in the country. Network of more than
1500 channel partners in over 780 locations. Tie-ups with all leading
automobile manufacturers to ensure the best deals. Flexible schemes &
quick processing. Hassle-free application process on the click of a
mouse.

COMMERCIAL VEHICLE LOANS

Range of services on existing loans & extended products like funding

of new vehicles, refinance on used vehicles, balance transfer on high
cost loans, top up on existing loans, Extend product, working capital loans & other
banking products.

TWO WHEELER LOANS

Avail attractive schemes at competitive interest rates from the No 1

Financier for Two Wheeler Loans in the country. Finance facility up to
90% of the On Road Cost of the vehicle, repayable in convenient
repayment options and comfortable tenors from 6 months to 36 months. Ride home on
your Dream Two Wheeler with our hassle free finance.

FARM EQUIPMENT LOANS

Preferred financier for almost all leading tractor manufacturers in the

country. Flexible repayment options in tandem with the farmer's
seasonal liquidity. Monthly, Quarterly and Half-yearly repayment
patterns to choose from. Comfortable repayment tenures from 1 year to 9 year

CREDIT CARDS

ICICI Bank Credit Cards give you the facility of cash, convenience and
a range of benefits, anywhere in the world. These benefits range from
life time free cards, Insurance benefits, global emergency assistance
service, discounts, utility payments, travel discounts and much more.

DEBIT CARDS

The ICICI Bank Debit Card is a revolutionary form of cash that allows
customers to access their bank account around the clock, around the
world. The ICICI Bank Debit Card can be used for shopping at more
than 100,000 merchants in India and 13 million merchants worldwide.

TRAVEL CARD
 Presenting ICICI Bank Travel Card. The Hassle Free way to Travel the
world. Traveling with US Dollar, Euro, Pound Sterling or Swiss Francs;
Looking for security and convenience; take ICICI Bank Travel Card.
Issued in duplicate. Offers the Pin based security. Has the convenience of usage of
Credit or Debit card.

PRE PAID CARDS

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

providing payment solutions at your fingertips. ICICI Bank pre-paid
cards are a safe & convenient way for associate payments,
disbursements, gifting & small ticket transactions. Pre-paid cards are available on a
VISA platform thus providing accessibility to over one lakh merchant establishments &
cash withdrawal from all VISA ATMs in India.

INVESTMENTS

At ICICI Bank, we care about all your needs. Along with Deposit products and Loan
offerings, ICICI Bank assists you to manage your finances by providing various
investment options ranging from ICICI Bank Tax Saving Bonds to Equity Investments
through Initial Public Offers and Investment in Pure Gold. ICICI Bank facilitates
following investment products:

• ICICI Bank Tax Saving Bonds

• Government of India Bonds
• Investment in Mutual Funds
• Initial Public Offers by Corporate
• Investment in "Pure Gold"
 • Foreign Exchange Services
• Senior Citizens Savings Scheme, 2004
You can invest in above products through any of our branches. For select products ICICI
Bank also provides the ease of investing through electronic channels like ATMs and
Internet (ICICIdirect.com)

ICICI Bank Bonds

• All ICICI Bank Bonds have been rated "AAA" by CARE and "LAAA"
by ICRA indicating the highest degree of safety for your money
• All Investment in ICICI Bank Tax Saving Bonds issued up to March
2005 are eligible for tax rebate under Sec 88 to the full extent possible
• Bonds are listed on BSE, NSE

GOI Bonds

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

• Reasonable investment tenure.
• Nomination facility available.
• Cannot be traded in secondary market.
• Interest income taxable.

Mutual Funds

Mutual Funds pool money of various investors to purchase a wide variety of securities
while pursuing a specific goal. Selection of Securities for the purpose is done by
specialists from the field. Returns generated are distributed to the Investors. Mutual
Fund Companies offer various schemes. Investors can choose any particular
Fund/Scheme or mix of Funds/Schemes depending upon their perception towards risk.
Investment is done on the basis of prevailing Net Asset Values of various schemes.
Mutual Funds Investments are subject to Market Risks.

Types of Funds Sold

We will help you determine which types of funds you need to meet your investment
goals. This may include the following types of funds:

• Debt: Liquid schemes, Income schemes, G-sec schemes, Monthly Income

Schemes etc.
• Equity: Diversified Equity Schemes, Sector Schemes, Index Schemes etc.
• Hybrid Funds: Balanced Schemes, Special Schemes - Pension Schemes, Child
education Schemes etc.

At ICICI Bank we will help you identify an appropriate mix of Mutual Fund schemes
for your portfolio using asset allocation strategies. Through ICICI Bank you can invest
in various schemes of multiple mutual funds with decent performance record. You can
take the aid of our various research reports on mutual funds and their schemes before
choosing a scheme for investment. ICICI Bank offers investment in Mutual Funds
through Multiple Channels. With ICICI Bank, you can invest in Mutual Funds through
following channels.

• ICICI Bank Branches

• ICICIdirect.com
• Dedicated workforce to serve you
• Before being deputed, our officers complete a comprehensive training
program and, once deputed, they receive thorough instructions in
financial planning skills and techniques. Throughout their careers
officers also attend programs to update their skills.
• All officers in charge of Mutual Funds are certified professionals by
AMFI (Association of Mutual Funds in India)
• Many of these officers also hold professional degrees like - MBA, CA,
ICWA, and CFA etc.

IPO:
You can invest in IPOs online through www.icicidirect.com with same convenience of
investing in equities - hassle-free and with zero paper work. Also, get in-depth analyses
of new IPOs issues (Initial Public Offerings) which are about to hit the market. IPO
calendar, recent IPO listings, prospectus/offer documents and live prices will help you
keep on top of the IPO markets.

ICICI Bank Pure Gold

Gold has been traditionally the most favored form of investment for Indians. In fact,
India, even today is amongst the highest consumers of Gold in the world. However, the
Gold market remains largely unorganized with reliability and convenience remaining the
key issues for gold buyers in the country.ICICI Bank with its `Pure Gold' offer attempts
to bridge the gap between the need of the customers for buying gold and availability of
an organized avenue to satisfy that need, by taking care of the two key components
Reliability and Convenience. Reliability 24 Carat ICICI Bank Pure Gold is imported
from Switzerland. This Gold carries a 99.99% Assay Certification, signifying highest
level of purity, as per international standards.

Convenience

ICICI Bank Pure Gold is competitively priced based on daily prices in the international
bullion market. Currently, gold is available in 2.5g, 5g, 8g, 20g and 50g categories.

FOREX Services

ICICI Bank's Foreign Exchange Services will help you organize your foreign exchange
in the most hassle free manner. Whether its Foreign Currency, Travelers Cheques or
Travel Card, ICICI Bank Foreign Exchange Services is a one-stop solution to your
foreign exchange requirement.
 RESEARCH METHODOLOGY

Data Collection Techniques:

This project consists of two parts :-

The first part is a study of the banking industry, ICICI Bank using secondary data
sources. This secondary information has been sourced from the internet and from
business related magazines and newspapers.
The second part of the study has been done using an exploratory research process and a
structured questionnaire was developed for this purpose. For the collection of primary
data this was the only method used. The reason I used this method is because a need
was felt for the free influx of information about the products. Also this method allowed
the use of skills gained in class.

Sample Design:

The population considered for the purpose of the survey was people residing in Delhi
and the National Capital Region (NCR).

Sampling Technique Used:

Since the information required was not of a very technical nature and also looking at the
scope of the project and the extent of the target segment, the sampling technique
employed was Convenience Sampling. I administered the questionnaires.

Sample Size:

I have restricted the sample size to 50 respondents. This was done keeping in mind the
time constraints and the fact that I felt that this number would be enough to serve the
information needs required to show the trends.

Customer satisfaction:

Customer satisfaction is equivalent to making sure that product and service performance
meets customer expectations. It is the perception of the customer that the outcome of a
business transaction is equal to or greater than his/her expectation. Customer satisfaction
occurs when the acquisition of products and /or services provides a minimum negative
departure from expectations when compared with other acquisitions and when the
marginal utility of a transaction is equal to or greater than preceding acquisitions.
Customer satisfaction occurs when the perception of the reward from the purchase of
goods or services by the customer meets or exceeds his/her perceived sacrifice. The
perception is a consequence of matching past purchase and consumption experience
with the current purchase.

Customer Service and Satisfaction:

When we talk about customer service and/or satisfaction, we talk about creativity.
Creativity allows us to handle or diffuse problems at hand or later on rather in the
process of conducting the everyday business. We talk about how, or what, does the
organization have to do to gain not only the sale but also the loyalty of the customer. We
want to know the payoff of the transaction both in the short and long term. We want to
know what our customers Want? We want to know if our customers are satisfied.
Satisfaction, Of course, means that what we delivered to a customer met the customer’s
Approval. We want to know if customers are delighted and willing to come

Back, and so on. Fleiss 2 and Feldman 3 present examples of that delightfulness in their
writings. Fleiss has written about Ben and Jerry’s ice cream and Feldman has discussed
excellence in a cab ride. As important as delightfulness is, some of us minimize it, or
even totally disregard it. At this point, we fail. Some of the issues that will guarantee
failure in sales, satisfaction, and loyalty are:

• Employees must adhere to a rigid chain of command

• Employees are closely supervised

• Conflict—in whatever form—is not allowed

• Rewards are based on carrot-and-stick principles

• Wrong objectives are measure.

We must understand customer expectation levels concerning quality. We must also understand
the strategy for customer service quality, and next we must understand the measurement and
feedback cycles of Customer satisfaction.
The customer is the person or unit receiving the output of a process on the system. In fact, it is
worth emphasizing that a customer can be the immediate, intermediate, or ultimate customer.

Also, a customer may be a person or persons, or a process or processes. Customer

satisfaction, however, is when the customer is satisfied with a product/service that meets
the customer’s needs, wants, and expectations.

There are at least three levels of customer expectations about quality:

Level 1. Expectations are very simple and take the form of assumptions, must have, or
take it for granted. For example, I expect the airline to be able to take off, fly to my
destination, and land safely. I expect to get the correct blood for my blood transfusion
and I expect the bank to deposit my money to my account and to keep a correct tally for
me.

Level 2. Expectations are a step higher than that of level 1 and they require some form
of satisfaction through meeting the requirements and/or specifications. For example, I
expect to be treated courteously by all airline personnel. I went to the hospital expecting
to have my hernia repaired, to be in some pain after it was done, to be out on the same
day, and to receive a correct bill. And I went to the bank expecting the bank teller to be
friendly, informative, and helpful with my transactions.

Level 3. Expectations are much higher than for levels 1 and 2. Level 3 requires some
kind of delightfulness or a service that is so good that it attracts me to it. For example,
an airline gives passengers traveling coach class the same superior food service that
other airlines provide only for first-class passengers. In fact, I once took a flight where
the flight attendants actually baked

cookies for us right there on the plane. When I went to the hospital, I expected staff to
treat me with respect and they carefully explained things to me. But I was surprised
when they called me at home the next day to find out how I was doing. And at my house
closing, the bank officer, representing the bank holding my mortgage, not only treated
me with respect and answered all my questions about my new mortgage, but just before
we shook hands to close the deal, he gave me a housewarming gift.
Customer satisfaction surveys help to:

• Improve customer, client, or employee loyalty.

React quickly to changes in the market.

Identify and capitalize on opportunities.

Beat the competition.

Retain or gain market share.

Increase revenue.

COMPANY’S EFFORT TO ENSURE SATISFACTION OF CUSTOMERS:

Objectives of ICICI

• Promote good and fair banking practices by setting minimum standards

in dealing with you

• Increase transparency so that you can have a better understanding of what

you can reasonably expect of the services;

• Encourage market forces, through competition, to achieve higher

operating standards;

• Promote a fair and cordial relationship between you and your bank;

• Foster confidence in the banking system

To Help You To Understand How Our Financial Products And Services Work By:
 • Giving you information about them in any one or more of the following
languages: Hindi, English or the appropriate local language.

• Ensuring that our advertising and promotional literature is clear and not
misleading

• Ensuring that you are given clear information about our products and services,
the terms and conditions and the interest rates/service charges, which apply to
them.

• Giving you information on what are the benefits to you, how you can avail of the
benefits, what are their financial implications and whom you can contact for
addressing you queries .

To Help You Use Your Account Or Service By:

• Providing you regular appropriate updates.

• Keeping you informed about changes in the interest rates, charges or terms and
conditions.

Information

You can get information on interest rates, common fees and charges through any one of
the following:

• Looking at the notices in our branches ;

• Phoning our branches or help-lines;

• Looking on our website;

• Asking our designated staff/help desk ;or

• Referring to the service guide/Tariff Schedule.

Before You Become a Customer we will:

 • give you clear information explaining the key features of the services and
products you tell us you are interested in;

• give you information on any type of products and services which we offer and
that may suit your needs;

• tell you if we offer products and services in more than one way [for example,
through

• ATMs, on the Internet, over the phone, in branches and so on] and tell you how
to find out more about them;

• tell you what information we need from you to prove your identity and address,
for us to comply with legal, regulatory and internal policy requirements.

Advertising, Marketing and Sales

• We will make sure that all advertising and promotional material is clear, and not
misleading.

• In any advertising in any media and promotional literature that draws attention to
banking service or product and includes a reference to an interest rate, we will
also indicate whether other fees and charges will apply and that full details of the
relevant terms and conditions are available on request.

• If we avail of the services of third parties for providing support services, we will
require that such third parties handle your personal information (if any available
to such third parties) with the same degree of confidentiality and security as we
would.

• We may, from time to time, communicate to you various features of our products
availed by you. Information about our other products or promotional offers in
respect of our products/services, will be conveyed to you only if you have given
your consent to receive such information/ service either by mail or by registering
for the same on our website or on our phone banking/customer service number.
• We have prescribed a code of conduct for our Direct Selling Agencies (DSAs)
whose services we may avail to market our products/ services which amongst
other matters requires them to identify themselves when they approach you for
selling our products personally or through phone.

• In the event of receipt of any complaint from you that our representative/courier
or DSA has engaged in any improper conduct or acted in violation of this Code,
we shall take appropriate steps to investigate and to handle the complaint and to
make good the loss.

Privacy and Confidentiality

We will treat all your personal information as private and confidential [even
when you are no longer a customer], and shall be guided by the following
principles and policies.

DATA ANALYSIS

1. WHICH OF THE FOLLOWING ATTRIBUTES COMPELLED

YOU TO MOST OPEN SAVING ACCOUNT IN ANY BANK?
 PeopleLike To Open an A/c

10%
37%
21% ATM
CHEQUE BOOK
Internet Banking
15% working Hour
17%
Value added Services

2:-WHICH TYPE OF SERVICE PREFERS THE MOST BY YOU

3:-WHICH OF FOLLOWING BANKS DO YOU HAVE ACCOUNT?

4:-WHAT TYPE OF ACCOUNT DO YOU HAVE IN BANK?
5:-HOW MANY SERVICES OFFERED BY YOUR BANKS HAVE BEEN USED
BY YOU?

6:-HOW WOULD YOU KNOW ABOUT THESE SERVICES?

7:-WHAT THE PEOPLE THINK ABOUT THE BANKS?
8:-What a respondent see in purchase of new plan from Banks?

9:-Is ICICI Bank Provide better facilities than SBI & HDFC Bank?
10:-Do you know what type of value added services provide by ICICI BANKS?

11:-How would you rate product offered ICICI Bank than other?
 Very Good Good Moderate Less Poor
Rating 5 4 3 2 1

12:-How would you rate product service / product vs. cost by ICICI Bank?
13:-How would you divide 100 points on the basis of service provide by ICICI Bank?

14:-How would you rate services offered by ICICI Bank?

 COMPARISON OF ICICI WITH SBI

ICICI bank is the largest private sector bank in India and the second largest commercial
bank in India. It has branches all over India and even in smaller towns in South India
after the takeover of Bank of Madurai. The bank also has foreign subsidiaries like ICICI
bank, Canada in Canada, Britain and Russia ,representative offices in USA, China,
UAE, Bangladesh, South Africa and branches in Bahrain, Singapore .

• It offers a platform for online share trading through ICICI Direct and insurance
services - ICICI Prudential. NRI services include money transfer through
Money2India, which offer better foreign exchange rates for lower amounts
compared to other services.

• Like most private sector banks, all ICICI bank branches in India are networked.
You can access your account from any ICICI bank branch in India. Anyone can
also deposit cash/local cheque in your account at any branch of ICICI bank.

• Also they have very convenient bank timings and are open for 12 hours from
8.00 a.m to 8 p.m from Monday to Saturday. When you deposit a cheque at their
branch, they will readily give you a stamped acknowledgement for deposit. You
can only deposit cash in your own account at the ATM, for depositing cash into a
third party account, you have to visit the branch. You have to select the deposit
cash option, you will get an envelope for depositing cash, which you can then fill
in the details and deposit it back. At locations where ICICI bank does not have a
branch, the queue at the ATMs is very long. Just after office hours , between 6
pm - 7.30 pm, customers sometimes have to wait for 15-20 minutes on some
days, to access the ATM.

• Since ICICI bank was established after 1991 it offers online banking where you
can check the balance in your account any time. The interface for savings
accounts is much better and user friendly compared to that for their roaming
current account
• However, unlike other banks like HDFC bank, their online bank statement does
not indicate the branch at which the amount is deposited. The information is
available in the email statement sent to you the next day. You have to contact
phone banking, enter CRN and TPIN, during working hours to get this
information. Very often, the system is slow, so you have to hold on for 10
minutes.

• For savings account, up to 3 cash deposits per quarter (3 months) at the non base
branch can be made at no cost. For additional cash deposits, the bank charges the
recipient Rs 100 (+ service tax) per deposit, irrespective of the amount deposited.
When the bank implemented this change, the ICICI bank customers were not
informed about the revision in the charges. For outstation cheques, ICICI bank
charges a minimum of Rs 30 (+ service tax) for savings accounts . This is very
inconvenient for account holders in small towns, who receive the dividend
warrant payable in major cities only. These warrants can be for small amounts
like Rs 20. For salary accounts, the minimum AQB required is zero and you
retain the account even after you leave the job. If your AQB is more than Rs
100000, you get a free at par chequebook. For an AQB of more than Rs 500000
(fixed deposit + savings account balance), you are eligible for private banking
services. For non maintenance of average quarterly balance, not only do they
deduct Rs 750 from your balance, they also deduct an additional service tax.

• Many of the ICICI bank customers are salary account holders, who are forced by
their employers to open an account with ICICI bank to receive their salary. The
account is opened at a branch which is convenient for the employer, but
extremely inconvenient for the employee. If want any clarification or
information, their customer support (through phone banking or email) will
instruct you visit the nearest branch - where the concerned person may or may
not be available. For savings account customers if you send an email asking for
clarifications, it is usually answered after a week.

• They have discontinued the auto sweep-in facility (earlier called Quantum
Optima), where the amount in savings accounts was automatically converted into
 a fixed deposit, if it exceeded Rs 15000. With the decline in interest rates for
loans, providing this facility is no longer profitable for the bank. You now have
to give an application at the branch if you wish to continue with this facility now.
The form for making the application was sent along with the monthly bank
statement. You can alternately open a recurring deposit, where a fixed amount is
added to your fixed deposit every month.

• Making a new Fixed Deposit with ICICI bank for current accounts is extremely
time consuming, especially when compared to HDFC bank. They will insist that
you withdraw cash from your account for making the FD. Since withdrawals of
amounts more than Rs 25000 are subject to cash withdrawal tax, for larger
amounts , you will have to split the fixed deposit and visit the branch on 2
different days. ICICI bank is probably the only bank in India where they will not
accept a ICICI bank cheque for making a fixed deposit. We had given a cheque
with the fixed deposit form , but the bank officer insisted that we pay cash. She
said she would fill the form for us, but she did not select the options which were
initially indicated, causing further problems for us.

• (SBI) is the largest public sector bank in India

SBI has branches and ATMs all over India, details of which are available at
their website. State Bank of Hyderabad, State Bank of Patiala, State Bank of
Saurashtra, State Bank of Bikaner and Jaipur ,State Bank of Indore, State Bank
of Mysore and State Bank of Travancore are the seven subsidary banks of SBI.
As of March 2006, SBI holding in these banks varies from 74% to 100% , but is
likely to decrease in future. SBI has one of the largest network of ATMs in the
Asia Pacific region. Many branches of State Bank of India are computerized. In
places where the Reserve Bank of India, (RBI) the central bank of India does
have an office, SBI carries out many of its functions. SBI timings vary according
to location, for example the Powai, Mumbai branch of State Bank of India is
open between 10.15 am to 2pm (Monday-Friday
• You can open a public provident fund (PPF) account at any State Bank of India
branch. PPF accounts are one of the few savings instruments which offer a high
tax free interest rate of 8% per year. All deposits made on or before 5th of a
month earn interest for the entire month. If you deposit a cheque in your PPF
account on the 5th of the month, you will get interest for the month, though your
account may be debited at a later date. The interest is credited to the account at
the end of the accounting year in India.

• If you know an agent who is registered with that particular branch of State
Bank , he will pay you back, a part of the commission he receives from the bank.
So you can get back 0.5% - 0.6% of the amount deposited immediately by cash.
Usually larger the amount, the higher the commission paid back by the agent (it
is negotiable) . The pay-in slip for PPF has 3 sections - depositors copy, agents
copy and bank copy. The agents copy has to be given to the agent and he will
give part of the commission. Earlier financial services firm like Blue-chip in
Mumbai, would also give a commission of 0.25% , but they have stopped in the
last 2 years.

• The minimum amount that can be invested in one year is Rs 500 and maximum
amount is Rs 70000. This investment has a lock in period of 15 years. No
withdrawals are allow till 6 years after account opening and one withdrawal is
allowed per year there after. It offers rebate under section 80C and the interest is
tax free under section 10C.

• For cash withdrawals, you can either use a withdrawal slip or cheque. If an
account is inactive for a long time, State Bank of India does not charge any fee
for reactivation. However, they have a verification process, which may take a
long time. Payment of income tax, advance tax, sales tax can be done at SBI
branches. Foreign currency drafts can also be obtained at the branches. Since
SBI offers a variety of banking services, their branches are usually very
crowded.
• State Bank of India has increase home loan interest rates by 25-75 basis points.
Also no fixed rate loans will be available for periods more than 10 years. These
changes have come into effect from March 1, 2006.

• SBI Railway Visa Card allows booking of railway tickets online at the Indian
Railways website at zero transaction charges. Users of this credit card can get
back up to 10% of ticket fare as railway points. These points can be redeemed
later, like frequent flyer miles offered by airlines. State Bank of India is the
largest issuer of debit cards (Maestro) in India

• State Bank customers who have to wait a long time to process a bank transaction
can register their complaint through a touch screen device for customer feedback
service at the branch. The information is recorded and processed in the central
server. As of March 2006, it is implemented in 10 branches of SBI in Mumbai.
When SBI employees go on strike, the Reserve Bank of India takes over all
clearing operations. However, banking operations are affected since SBI has
nearly 30% of the total customers of banks in India. Cheques/DD drawn on SBI
was not cleared due to the strike. All government taxes like income tax, sales tax,
service tax can be paid at any branch of SBI.

• State Bank of India has 52 foreign offices in 34 countries including Australia,

UK, USA, Canada, Bahrain, Nigeria, Bangladesh, Nepal, and Bhutan Sri Lanka.
These are useful for foreign trade transactions like opening of Letter of Credit.
 • SWOT ANALYSIS

STRENGTHS WEAKNESSES

P S – O Strategies W – O Strategies

O Strength: Large Capital base. Weakness: Workforce

T Opportunity: Market Expansion. Responsiveness.

N Opportunity: Outsourcing of Non –

I Strategy: Deep Penetration into Core Business.

I Rural Market. Strategy: Outsource Customer

E Care & other E-Helps.

S – T Strategies W – T Strategies

H Strength: Low operating costs Weakness: Not Equal to

R International Standards.

E
A Threat: Increased Competition Threat: Entry of many Foreign

T from others Pvt. Banks. Banks.

Strategy: Steps to Ensure

Loyalty by old Strategy: Consider additional

Customers. benefits

FINDINGS
1. It was found from the study that bank believes in quality service rather than quantity
of service.

2. The officials employed are very much enthusiastic about their job.

3. The officials try to make best relation with the customers.

4. There is separate counter for NRI services.

5. The limit of cash vault is Rs. 10, 00,000 for a day.

6. The registers and files are maintained on a daily basis.

7. The registers are maintained in a well organized manner.

8. The marketing strategy of the bank is very attractive.

9. The bank always tries to attract customers with innovative offers.

10. The bank is very keen to implement 5's plan in all its branch.

11. ICICI and SBI credit deposit ratio is on the side though ICICI banks show a little
decreasing trend to the exten of 2.24 % Over mar2007 _ mar 2008.

12. Both the bank investment deposit ratio is on the declining trend

13. Both the banks has shown better utilization of cash portfolio

14. ICICI bank Interest expences to interest earned remains the same Over 2 Years
whereas SBI shows reduction.

15. Other Income ratio remains fluctuation in both the banks.

16. Operating expences to total income shows a decresing trend in ICICI bank whereas
it was on the rising side in SBI.

17. Interest income to total funds shows rising mode in ICICI whereas In SBI more or
less it remains at the level; The ratio of interest expenses to total funds shows an
increase in Value in ICICI Bank whereas in SBI interest expences shows a Rising mode.

18. The ratio of Non Interest income remains the same for ICICI for The past 2 Years
whereas in SBI at shows a decline.
 19. The stock witness some selling pressure in the coming days in ICICI Bank .

20. The continuation pattern negates immediate bearish momentum on the stock and
it's advisable to buy at declines. Short term investor can initiate a buy above 500 with a
target of 560 570.

SUGGESTIONS
 A. Best play in a buoyant environment Favorable macro, buoyant Market related
revenues and a benign environment for asset quality.

1· ICICI as a player focused on maintaining and /or improving Market share in key
business segments, particularly retail lending- Will, in our view, benefit immensely form
a positive operating Environment.

2. ICICI is viewed as it is benefited from the procyclicality effect of The economic

cycle as its borrowers in the legacy project financing Activity witnessed their debt
servicing ability increasing considerably. It is believed that the profitability of this
segment has improved as a Result of lower loan loss provisions and lower taxable rates
of Income from this source. Expectations is on the procyclical benefit ,To continue and
hence profitability of legacy lending to be sustained At levels seen earlier.

3. Market related revenues is believed to contribute 14% - 15% to ICICIB's operating

revenues and have boosted its preprovision RoAA. Buoyant environment to sustain the
contribution from market -related revenues is expected and hence the operating
profitability.

4. Pricing power in consumer financing segment profitability Against potential shocks.

5. ICICIB enjoys a dominant market position across customer Categories in retail

lending.The strong market position and robust Demand for consumer financing vests
significant pricing power With ICICIB is believed either by allowing a hike in lending
rats, Negotiating higher subvention form manufacturers of cutting Distribution costs.

6. Strong pricing power and a balance sheet that is significantly Biased towards retail
lending buffers ICICB's profitability from Potential shocks in the bank's funding cost.

7. ICICB has an adverse mismatch profile between assets and Liabilities. High
volatility in interest rates could adversely effect Profitability in the short term; however,
as the back book gets Reprised at new lending rates upon maturity, the bank's NIM will
Likely show improvement. This phenomenon to play out through FY1002E and
FY2009E is expected.
8. In line with consensus, but we recommend buy ICICIB for growth Reasons and not
for the relative valuation appeal. It is not so much about ICICIB versus HSFC or
HDFCB, but about Their respective operating metrics and growth conditions. Market
Has rewarded both strategies: ICICIB's broad-based strategy allows capturing value
across the Value chain in a customer segment; and ICICIB, like other large players in
the private sector, enjoys Favorable conditions arising from a restrictive
regulatory/policy Environment towards new entrants and foreign banks and slow Pace of
reforms for state-owned banks is believed.

B. Increasing contribution from strategic investments Yet another driver

1. The value accruing from subsidiaries to be 17% of ICICIB's Current marke

capitization. This to rise to 20% of ICICIB's target Price over the next 12 months is
expected with banking and life Insurance being the key drivers.

2. The life insurance business of ICICIB has been incurring losses On an accounting
basis due to continued investment in expznding The scale and scope of the business. The
life insurance business is Believed in creating wealth for its shareholders through market
Share gains, increasing penetration of life insurance and improving operating efficiency.

3.S The asset management and venture capital fund of ICICB makes A negligible
contribution currently; however, these businesses is Believed to hold significant upside
potential as they achieve scale Economies.
 CONCLUSION

Thus, ICICI has been able to use technology to provide value-added service to its
customers during the last few years. For ICICI, technology is an integral part of their
business. However, their overall progress could have been smoother but for certain
internal and extraneous factors and also a pressure on spreads due to a competitive
market (Annual report, 2000 –01). E-banking has become a necessary survival weapon
and is fundamentally changing the banking industry worldwide. To day, the click of the
mouse offers customers banking services at a much lower cost and also empowers them
with unprecedented freedom in choosing vendors for their financial service needs. No
country today has a choice- whether to implement E-banking or not given the global and
competitive nature of the economy. ICICI have toupgrade and constantly think of new
innovative customized packages and services to remain competitive. The invasion of
banking by technology has created an information age and commoditization of banking
services. ICICI have come to realize that survival in the new e-economy depends on
delivering some or all of their banking services on the Internet while continuing to
support their traditional infrastructure. The rise of E-banking is redefining business
relationships and the most successful banks will be those that can truly strengthen their
relationship with their customers. Without any doubt, the international scope of E-
banking provides new growth perspectives and Internet business is a catalyst for new
technologies and new business processes.
BIBLIOGRAPHY

www.rbi.org.in

www.moneycontrol.com

www.nseindia.com

www.icicibank.com

www.google.com

Economic times

Business world
 QUESTIONNAIRES

Dear SIR/MADAM, I am conducting survey on ICICI. I shall be very thankful to

give your few minutes to me for answering my few questions below.

Name: _____________________________________

Add: ________________________________________

Contact no: ____________________________________

Gender Male Female

E-mail Id : _______________________________________________________
Age Group: 18—25 25—35 35— 45 45—55
55+

Occupation:

Journalist

Student

Professional

Retired Person

Technical expert

Other, please specify:

Income: ≤ 1 laces 1—3 laces 3—5 laces 5—7 laces 7—10

laces +10 laces
1:- WHICH OF THE FOLLOWING ATTRIBUTES COMPELLED YOU TO MOST OPEN

SAVING ACCOUNT IN ANY BANK?

(a) ATM cum debit cards

(b) Cheque book

(c) internet banking/ phone banking

(d) working hours

(e) value added services

2:-WHICH TYPE OF SERVICE PREFERS THE MOST BY YOU?

(a) atm service

(b) internet banking

(c) mobile banking

(d) core banking

(e) retail banking

3:-WHICH OF FOLLOWING BANKS DO YOU HAVE ACCOUNT?

(a) ICICI bank

(b) SBI bank

(c) HDFC bank

(d) AXIS bank

(e) other pls specify __________________

 4:-WHAT TYPE OF ACCOUNT DO YOU HAVE IN BANK?

(a) Saving

(B) Current

(c) Fixed

(d) NRI

(e) Others Pls specify ________

________________________________

5:-HOW MANY SERVICES OFFERED BY YOUR BANKS HAVE BEEN USED BY YOU?

(a) D-Mat A/C

(b) Mutual Funds

(c) e-Instructions

(d) LI & GI

(e) Digitally Signed Statement

6:-HOW WOULD YOU KNOW ABOUT THESE SERVICES?

(a) Advertisements

(b) Friends and Relatives

(c) Direct Selling Agents

(d) Others Pls specify _______________

7:-WHAT THE PEOPLE THINK ABOUT THE BANKS?

(a) Necessity for protection security

(b) Imposition of a burden of expenses

(c) A compulsory tool for SAVING

(d) Others Pls specify ________________

8:-WHAT A RESPONDENT SEE IN PURCHASE OF NEW PLAN FROM BANKS?

(a) Standing and goodwill of the company
(b) Product range of the company

(c) Advertisement being released by the company

(d) Services being given by the company

9:-IS ICICI BANK PROVIDE BETTER FACILITIES THAN SBI & HDFC BANK?

(a) Yes

(b) No

(c)Can`t Say

10:-DO YOU KNOW WHAT TYPE OF VALUE ADDED SERVICES PROVIDE BY ICICI

BANKS?

(a)-Young star

(b)-Senior citizen

(c)-Pre paid card

(d)-Recurring deposits

(e)-other

11:-HOW WOULD YOU RATE PRODUCT OFFERED ICICI BANK THAN OTHER?

Low 1 – 2 – 3 – 4 – 5 High

12:-HOW WOULD YOU RATE PRODUCT SERVICE / PRODUCT VS. COST BY ICICI

BANK?
 Low 1- 2 -3 -4 -5 High

13:-HOW WOULD YOU DIVIDE 100 POINTS ON THE BASIS OF SERVICE PROVIDE BY

ICICI BANK?

(a)-Less formality

(b)-Flexibility

(c)-Less documentation

(d)-others

14:-HOW WOULD YOU RATE SERVICES OFFERED BY ICICI BANK?

(a) Extremely Satisfied

(b) Satisfied

(c) Moderate

(d) Dissatisfied

(e) Extremely Dissatisfied

15:-WOULD YOU LIKE ANY RECOMMENDATION TO ICICI BANK?