Professional Documents
Culture Documents
EXECUTIVE SUMMARY
The main object of the project was to learn about the various products
that the bank had to offer to the customers, learn about the latest 5 S
Philosophy that the bank has implemented, also learn the Retail Business
Development Model that is basically a new dimension of selling product to
customers, analyze the awareness of the Bank@home service with existing
customers, educate them regarding the same and motivate them to enroll for
the service and also try to assess why the customers are resisting to use the
service and finally encourage corporate organizations that maintain their
salary accounts with the bank to get a corporate box installed in their office
premises.
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OBJECTIVE:
Limitations:
Paucity of time
Concentrating on the happenings on specific branch and not
on the bank policies on a whole
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RESEARCH METHODOLOGY
Secondary Data:
Was collected from internet and intranet within the company for:
Understanding the product and the features .
Understanding the functioning of Bank@home.
Obtaining the documents for Corporate Boxes.
Information collected form guidance of superior managers to
understand the RBD process
Primary Data:
The data consisted of:
Information collected with the help of Questionnaire for
analyzing Bank@home service. Sample size of which was 200
existing customers. Personal interview was done with the walk
ins.
Observation method was used for understanding various products
and their features and understanding the 5 S Philosophy
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sectors such as real estate, equity, etc, strict control over off-
balance sheet activities, larger holdings of government bonds
(which helps limit credit risk), relatively well- diversified credit
portfolios, statutory restrictions on connected lending, adequate
control over currency and maturity mismatches, etc, which has
insulated them from the adverse impact of financial crisis and
contagion. Banks in India have played a significant role in the
development of the Indian economy.
However, with the structural reforms initiated in the real
economy from the early 1990s, it was imperative that a vibrant
and competitive financial system should be put in place to
sustain the ongoing process of reforms in the real sector.
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ICICI Bank's equity shares are listed in India on the Stock Exchange,
Mumbai and the National Stock Exchange of India Limited and its American
Depositary Receipts (ADRs) are listed on the New York Stock Exchange
(NYSE).
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BOARD MEMBERS
Board Members
Mr. N. Vaghul, Chairman
Mr. Uday M. Chitale
Mr. Sridar Iyengar
Mr. Lakshmi N. Mittal
Mr. Anupam Puri
Mr. Vinod Rai
Mr. Somesh R. Sathe
Mr. M.K. Sharma
Mr. P.M. Sinha
Prof. Marti G. Subrahmanyam
Mr. T.S.Vijayan
Mr. V. Prem Watsa
Mr. K.V. Kamath, Managing Director & CEO
Ms. Lalita D. Gupte, Joint Managing Director
Ms. Kalpana Morparia, Deputy Managing Director
Ms. Chanda Kochhar, Executive Director
Dr. Nachiket Mor, Executive Director
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ICICI Bank's social sector initiatives aim to resolve some of the most
fundamental developmental problems facing India today. Its involvement is
primarily in terms of non-commercial support to fill knowledge and practice
gaps in specific thematic areas Early Child Health, Elementary Education
and Micro Financial Services.
The mission statement of the SIG is "to identify and support initiatives
designed to improve the capacities of the poorest of the poor to participate in
the larger economy". The SIG believes that the three fundamental capacities
any individual should possess to be able to participate in the larger economy
are in the areas of health, education and access to basic financial services.
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Within these broad areas, infant health at birth, elementary education and
micro financial services define the areas in which the SIGs work focuses
Elementary Education
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SAVINGS ACCOUNT:
ICICI Bank offers customers a power packed Savings Account with a
host of convenient features and banking channels to transact through. So
now customers can bank at their convenience, without the stress of waiting
in queues. ICICI Bank provides its customers with various types of savings
accounts keeping in mind different needs of different people.
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FIXED DEPOSITS:
ICICI provides its customers with various
kinds of Fixed deposit facilities that are flexible and cater to customers who
have different needs and wants in their fixed deposits.
RECURRING DEPOSIT:
ICICI Bank's Recurring Deposits are the ideal way to invest small
amounts of money every month and end up with a large saving on maturity.
It aims to encourage savings without putting any stress on customers
finances by making them to put a lump sum amount in fixed deposit in one
go. The recurring deposit also attracts high rate of return that are identical to
the fixed deposit rates and most importantly no TDS is applicable on it. The
minimum balance of deposit is of Rs.500 and thereafter in multiples of
Rs.100 the minimum period is 6months and thereafter in multiples of
3months, nomination facility is also available.
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CURRENT ACCOUNTS:
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LOANS:
Personal loans :
As a special offering, our Salary Account customers would be extended
personal loans.
Home loans:
Home Loans from ICICI Bank comes to you with attractive interest rates
and personalised service in the comfort of your home
Car loans :.
Loans from ICICI Bank come to you with instant approval, hassle-free
documentation and competitive interest rates.
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INVESTMENT SERVICES
Demat services:
Gold coin:
Employees can buy 24 karats Pure Gold, which ICICI Bank brings to
you. Each coin comes to you straight from Switzerland. Refined to 99.99%
fine gold and sealed with a unique Certificate of Authencity- guaranteeing
you its purity.
LOANS:
Salient Features:
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Home Loan:
Interest rates on home loans have come down considerably in the last few
years. Individuals who opted for housing loans in the years gone by, are still
servicing them at 17% to 21% per annum. Quite a price to pay, since one can
get a loan today for around 12% per annum. In such a case, you can opt for a
balance transfer. Under this scheme, customers can replace their existing old
high interest loan by a cheaper (equal to applicable current rates) loan. ICICI
Home Finance will not only finance the balance amount of outstanding loan
but also your prepayment charges to the old housing finance company.
The result:
Personal Loans:
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Loans can be used for any purpose with no questions asked regarding
the end use of the loan.
A balance transfer facility available for those who want to retire any
higher debt.
All loan repayments are done via equated monthly instalments (EMI).
Car Loans:
ICICI is the number one financier for car loans in the country.
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Finance facility available for all two wheelers ranging from mopeds to
motor bikes.
Now avail Finance upto 90%* of the On Road Cost of the vehicle,
repayable in convenient tenure options ranging from 6 months to 36
months*.
Ride Easy Pay Easy with ICICI Bank Two Wheeler Loans.
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CARDS:
CREDIT CARD:
Features of ICICI Credit Cards:
Bandhan:
Customers can freely present a maximum of two add-on Cards to their
wife, sister, brother, parents or children above 18 years of age. To apply for
this add-on Card, referred to as "Bandhan", customers can just call the ICICI
Bank 24-hour Customer Care Centre and place their request with an
executive. A form will be sent to them. Also if customer has linked your
Credit Card with your Internet banking User-id then the customer can also
place their request for an add-on Card online.
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PHOTO-CARD:
Customers have the option of having their photograph and signature
digitally imprinted on the front of the Card. This provides extra security at
any of the merchant establishments. In fact, it can be used as a proof of
identification. In the interest of their own security, we strongly recommend
that customers opt for a photo-Card. If customers had decided not to opt for
a photo Card when applying, just call the ICICI Bank 24-hour Customer
Care Centre and place your request with the executive. A form will be sent to
you.
You are then required to mail the completed form to the bank. A photo-Card
will be yours at no extra cost
Benefits
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Exclusive Benefits
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CLASSIC CARDS:
A Card that offers special benefits to all members of your family starting
with a Free "Bandhan" add-on Card.
Comprehensive Insurance for both primary and add-on Cards upto Rs.
10 lakhs. Household insurance upto Rs.20,000. Baggage insurance
upto Rs. 10000. Hospitalisation Benefit policy upto Rs.25,000.
Purchase protection of Rs.20,000. Comprehensive travel related
insurance.Zero Lost Card liability.Dial a draft at 1%. Balance transfer
at 1.75%. Most powerful catalogue based rewards Program.
Comprehensive Travel Benefits. Accepted at over 22 million merchant
establishments globally. Complimentary Teleoptima Calling Card.
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ICICI Bank Visa Mini Card is Indias first Mini Card, is designed
keeping customers in mind. Customers discover a whole new way of
carrying your money. Sling it around your neck, or wrap it around your
wrist, or just dangle it from your key chain whichever way. Whats more, it
comes along with a normal sized companion Card to enables customers to
use it at ATMs and at certain merchant establishments that do not have the
electronic swiping machine. Making sure that customers do not need to carry
your wallet at all.
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Exclusive Features
India's first value for money Card. A no-frills Card packed with benefits
that matter.
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Personal Accident Insurance of Rs.3 lakhs (air) and Rs. 1 lakh (any
other accident).
Access to 24-hour Customer Care Centre and all VISA and
MasterCard approved ATMS
Mobile Alerts and Statement by E-mail
India's only Internationally valid value for money photo Card offering
unmatched combination of features and convenience.
A powerful Gold Rush lucky draw offer that gives over 400 gms of
Gold as prize money every month on spends of over Rs.500/- per
month
Most attractive EMI offer at just 7.5% interest p.a. with NO
processing fee - available at just phone call with no guarantor.
Free Add on Card for life.
International validity at over 12 million Visa approved merchants.
Balance transfer at only 1.75 % p.a.
Personal loan upto the available credit limit available at just 10% p.a.
and 1% processing fee after 6 months of Card usage
Personal Accident Insurance of upto Rs.3 lakhs (air) and upto Rs. 1
lakh (any other accident).
Purchase protection of Rs.10,000.
Dial-a-draft facility at only 1%
Utility bill payment facility.
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Corporate Cards:
Cost Savings:
Improved cash float: The Corporate Card minimizes the need for
cash advances and the administrative burden involved in tracking &
reconciling them. Moreover, Card Members are billed once every
month, which helps improve the Companies cash flow.
Better rates from Suppliers: Management Information (MIS)
generated by the ICICI Bank Corporate Card System helps the
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Attractive spending limit. Unlike most other Cards the ICICI Bank
Corporate Card provides the flexibility to the corporate to set
spending limit for the company nominees. For the Classic Corporate
Card the minimum spend limit is Rs.40,000/- and the maximum spend
limit is Rs. 3,00,000/-, for the Gold Corporate Card the minimum
spend limit is Rs. 50,000/- and the maximum spend limit is Rs.
10,00,000/-. Frequent travelers find this facility extremely useful
when handling large expenses and during unexpected situations such
as extended business trips
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-Limited loss Card liability. Post reporting the loss of Card, liability is Nil.
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INVESTMENTS
ICICI Bank cares about all needs. Along with Deposit products and Loan
offerings, ICICI Bank assists people to manage their 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:
BONDS:
All ICICI Bank Bonds have been rated "AAA" by CARE and
"LAAA" by ICRA indicating the highest degree of safety for your
money
Investment in ICICI Bank Bonds are eligible for tax rebate under Sec
88 to the full extent possible
Bonds are listed on BSE, NSE
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GOI Bonds
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MUTUAL FUNDS
Risk Diversification
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Convenience
Liquidity
Reduction in Costs
Mutual funds have a pool of money that they have to invest. So they are
often involved in buying and selling of large amounts of securities that will
cost much lower than when you invest on your own
Tax Advantages
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Other Advantages
Indian Mutual fund industry also presents several other benefits to the
investor like: transparency - as funds have to make full disclosure of
investments on a periodic basis, flexibility in terms of needs based choices,
very well regulated by SEBI with very strict compliance requirements to
investor friendly norms.
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
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as per international standards. The gold coins that come in 5gm, 8gm, and
10gm are packed in tamper proof packages.
Convenience
ICICI Bank Pure Gold is competitively priced based on daily prices in
the international bullion market. Currently, gold is available in 8 gram and 5
gram categories, subsequently other denominations will also be introduced.
PRIVATE BANKING:
Benefits
Comprehensive range of products and services
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NRI SERVICES:
Wherever people may be, in India or abroad, ICICI Bank has created a
wide range of products and services that provide customers complete
financial solutions. Helping them to make the right decisions at the right
time and can be rest assured that they are in the safe and trustworthy hands
of ICICI bank.
Deposit Products
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any authorization from RBI. The Account can be opened and funded in any
permissible currency, and is later converted into Indian Rupees. This
Account offers dual benefits of high returns as offered by the fixed deposits
and liquidity as offered by the savings account. The Account helps
customers take care of all their financial needs, quickly and conveniently. In
addition to attractive rupee interest rates customers get free money transfers,
easy access for the customer as well as for his/her family back in India, and
a free mandate card for the loved ones in India.
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THE 5 S PHILOSOPHY
ICICI Bank has always been looking to make banking comfortable and
convenient as far as possible for its customers, and to manage the tedious
paper work it uses the 5 S philosophy to help its staff retrieve and manage
papers in the most efficient and the smartest way.
ICICI Bank was quick to understand that to be a leader it has to satisfy its
customer needs, be it product or service. Simple aspects like a, well
organized and systematic work place increases efficiency and brings about
customer satisfaction. The 5 S philosophy helps the staff to understand the
importance of being organized at the work place.
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Sorting
Systematic Arrangement
Spic n Span
Standardization
Self Discipline
SORTING:
Sorting basically means to divide the all the objects at the area where the
philosophy is to be deployed into 5 broad categories
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SYSTEMATIC ARRANGEMENT:
SPIC N SPAN:
Once all the items have been identified and systematically arranged,
the emphasis is turned on being clean and keeping the files and the
documents and all items in top condition. SPIC N SPAN is basically
cleaning with meaning. Each person is responsible to inspect and look out
for damages, defects; potential problems identify them and fix them. They
should also keep a check whether the work area is sorted and systematically
arranged or not. Staff should look out for reasons and think out ways to
overcome the problems. SPIC N SPAN needs to be done on a regular basis
and is an ongoing process. Places should be thoroughly cleaned.
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STANDARDISATION:
SELF DISCIPLINE:
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ICICI soon realized that they have to be customer oriented and have to
understand the current status of lifestyle of the people. They were quick to
understand that with the hectic work schedule of people, banks have to
change, their style, their working hours etc. ICICI is the first and the only
branch so far in India that have working hours from 8 am to 8 pm. ICICI are
the only bank that have been granted permission by RBI to start its service
of Bank@home the later part of the report deals with the subject.
With the new banks entering into the market and margins filling up
the competition has got tougher, but ICICI has been quick to understand the
needs of its customer and has molded itself and in fact made itself flexible.
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ICICI also understands that customer demands value for their money
the service quality standards at ICICI bank allow them to deliver better
products faster.
It is a fact that banks have been under immense pressure due to new
entrants. The competition has been on a high. It is very clear customers
would be willing to shift their money to new banks where they find a better
rate of interest, however the rate difference between banks as very marginal
and therefore the situation has not come into action and thus what is left is
which banks can actually provide customers with meaningful and unique
services. ICICI definitely stands out for the various services it offers to its
customers also it has been able build a very strong trust with its customers
which actually is the key to success.
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2. Movie Tickets: A yearly contest for our HNI customers who use Cash
On Tap, the customer with the most number of transaction through
Cash On Tap will be given an option to choose from either 2movie
tickets or a year free news paper subscription.
4. Point Gather Scheme: This scheme can be used in 2 ways, firstly for
our non HNI customers who use Cash On Tap, whenever they use our
service they get 2 points for availing the service, when they collect
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500 points they are eligible for 3 unique gift items from which they
can choose any 1or they can wait and collect 1000 points to avail
better gifts. Secondly if we look at BANK@HOME as way to migrate
our customers to this channel we can apply this scheme to both Cash
On Tap (HNI and Non-HNI customers) and Remote Service Delivery.
6. Early Bird: The very first request through Cash On Tap every day can
be kept free for the customers.
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CONCLUSION
The study allowed us get answers regarding the service awareness among
people and the problems it faces. The key findings and analysis of the survey
shoed the following :
All the respondents wanted to carry out the banking needs from the
convenience of their home.
Customers were not aware that the service was a free one, this is clear
that almost all the attributes of the services are favorable to the
customers still customers are not using the service and are not even
aware of it.
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Almost all customers once educated about the service readily enrolled
WEBLIOGRPHY
WWW.GOOGLE.COM
WWW.MANAGEMENT PARADISE.COM
WWW.SCRIBD.COM
WWW.MBASKOOL.COM
WWW.ICICI BANK.COM
WWW.ABOUTUSICICIBANK.COM
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