Project Report On CUSTOMER SATISFACTION CORPORATE GUIDE FACULTY GUIDE Mr. Ravi Parmar Mr. Rajnish mallick Relationship Manager Submitted in Partial Fulfillment of the requirement of Post Graduate Diploma in management Submitted By Ankur Singh 1 Ankur PGDM
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Project ReportOn
CUSTOMER SATISFACTION
CORPORATE GUIDE FACULTY GUIDE Mr. Ravi Parmar Mr. Rajnish mallickRelationship Manager
Submitted in Partial Fulfillment of the requirement of Post Graduate Diploma in management
Submitted ByAnkur Singh
PGDM-III, Semester Batch- 2008-10
Roll no. 014908005
Centre for Management TechnologyKnowledge Park I Gr. Noida
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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.Remay Verma, Branch Manager and Mr. Ravi Parmar (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. Anant Jyoti,(HOD of PGDM), who has sincerely supported me with the
valuable insights into the completion of this project.
I am grateful to all faculty members of C-Mat and my friends who have helped me in the
successful completion of this project.
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CONTENTS
Sr. No. Subject Covered Page No.
1 Acknowledgements 2
2 Executive Summary 4
3 My Project Objective 7
4 Banking Structure in India 8
5 Introduction 9
6History of Banking in India
10
7Bank In India
17
8Fact Files of Banks in India
19
9 Indian Banking Industries 26
10 ICICI Bank 28
11 ICICI Group
33
12 Technology used in ICICI Bank 39
13 Product and Customer segments 41
11 Product 44
14 SWOT Analysis 55
15 Research Methodology 57
16Company Efforts To Ensure Customer Satisfaction
59
17Data Analysis
69
18 Comparison With SBI 79
19 SWOT Analysis(comparative) 87
20
Questionnaire 93
21 Finding 98
22 Suggestion 99
23 Conclusion 102
24 Bibliography 103
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.
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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.
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BANKING STRUCTURE IN INDIA
Scheduled Banks in India
(A) Scheduled Commercial Banks
Public sector Banks Private sector Banks Foreign Banks in India
Regional Rural Bank
(28) (27) (29) (102) Nationalized Bank Other Public Sector
Banks (IDBI) SBI and its Asso-
ciates
Old Private Banks New Private
Banks
(B) Scheduled Cooperative Banks
Scheduled Urban Cooperative Banks (55)
Scheduled State Cooperative 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.
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INTRODUCTION
The banking section will navigate through all the aspects of the Banking System in India. It
will discuss upon the matters with the birth of the banking concept in the country to new
players adding their names in the industry in coming few years.
The banker of all banks, Reserve Bank of India (RBI), the Indian Banks Association (IBA)
and top 20 banks like IDBI, HSBC, ICICI, ABN AMRO, etc. has been well defined under
three separate heads with one page dedicated to each bank.
However, in the introduction part of the entire banking cosmos, the past has been well
explained under three different heads namely:
History of Banking in India
Nationalization of Banks in India
Scheduled Commercial Banks in India
The first deals with the history part since the dawn of banking system in India. Government
took major step in the 1969 to put the banking sector into systems and it nationalized 14
private banks in the mentioned year. This has been elaborated in Nationalization Banks in
India. The last but not the least explains about the scheduled and unscheduled banks in India.
Section 42 (6) (a) of RBI Act 1934 lays down the condition of scheduled commercial banks.
The descriptions along with a list of scheduled commercial banks are given on this page.
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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
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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
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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.
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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 exposure.
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BANKS IN INDIA
In India the banks are being segregated in different groups. Each group has their own benefits
and limitations in operating in India. Each has their own dedicated target market. Few of them
only work in rural sector while others in both rural as well as urban. Many even are only
catering in cities. Some are of Indian origin and some are foreign players.
All these details and many more is discussed over here. The banks and its relation with the
customers, their mode of operation, the names of banks under different groups and other such
useful information’s are talked about.
One more section has been taken note of is the upcoming foreign banks in India. The RBI has
shown certain interest to involve more of foreign banks than the existing one recently. This
step has paved a way for few more foreign banks to start business in India.
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
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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.
BUSINESS OBJECTIVES
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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 realisation of India’s potential. maintain a healthy financial profile and diversify our earnings across businesses and
geographies. Maintain high standards of governance and ethics. Contribute positively to the various countries and markets in which we operate. Create value for our stakeholders.
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 financ-ing, deal assessment, and land evaluation are investment banking services offered to corporate clients. Global trade and cash management transaction services facilitate remittances and re-
ceipts 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
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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 fis-
cal. 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 neces-
sary 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 config-
ured 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 pass-
words carefully such that no unauthorized access is made by a third party. To make the pass-
word complex and difficult for others to guess, the customers should use combination of al-
phabets, numbers and special characters (like! @, #, $ etc.). The customers should undertake
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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
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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 Fi-
nancial 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 sec-
tion 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 Re-
serve 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 tak-
ing 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 re-
ducing the huge manpower through Golden handshake schemes and computerizing its opera-
tions.The State Bank Group, with over 16000 branches , has the largest branch network in In-
dia. It has a market share among Indian commercial banks of about 20% in deposits and ad-
vances, 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
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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
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Bank has established itself as a one stop solution (Universal Bank) for all financial need of in-
dividuals 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 eas-
ier, especially for those who face the external customers. You do not have to justify your or -
ganization, it is only the product that has to be pitched. As far as employee benefits are con-
cerned, ICICI Bank offers a lot of financial benefits ranging from your family health insur-
ance 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 organi-
zation 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 com-
petition between the eployee to achieve theo goal.
BUSINESS OBJECTIVES:
VisionTo 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 realisation of India’s potential. maintain a healthy financial profile and diversify our earnings across businesses and
32Ankur PGDM
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.
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 financ-ing, deal assessment, and land evaluation are investment banking services offered to corporate clients. Global trade and cash management transaction services facilitate remittances and re-ceipts 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 fis-cal. 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 neces-sary 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 config-ured accordingly) will display an appropriate message ensuring the best level of secrecy for the customer's information.
33Ankur PGDM
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 pass-words carefully such that no unauthorized access is made by a third party. To make the pass-word complex and difficult for others to guess, the customers should use combination of al-phabets, 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 Fi-nancial 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 sec-tion 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 Re-serve 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 tak-ing 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 re-ducing the huge manpower through Golden handshake schemes and computerizing its opera-tions.The State Bank Group, with over 16000 branches , has the largest branch network in In-dia. It has a market share among Indian commercial banks of about 20% in deposits and ad-vances, 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:
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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 in-dividuals 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 eas-ier, especially for those who face the external customers. You do not have to justify your or -ganization, it is only the product that has to be pitched. As far as employee benefits are con-cerned, ICICI Bank offers a lot of financial benefits ranging from your family health insur-ance 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 organi-zation 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 com-petition 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, mo-bile banking electronic display sy ICICI Bank was using Teradata for its data warehouse.
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However, due to its proprietary hardware, the cost of procurement, upgrades and administra-tion 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 cur -rent 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 so-lution would have to address not only current issues, but accommodate future growth expecta-tions 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 plan-ning (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, phar-maceuticals, 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 seg-ment 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-config-ured. 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.
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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 IntegrationPinnacle 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 Soft-ware 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 excel-lence, 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:
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Understanding the needs of customers and offering them superior products and ser-vice
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 sig-nificant 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.
Shri 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 DirectorMr. Kevin Wright, Executive Vice President - Sales & DistributionMs. Madhavi Soman, Chief - Strategic InitiativesMr. V. Rajagopalan, Appointed Actuary Mr. Sandeep Batra, Chief Financial Officer & Company SecretaryMr. Saugata Gupta, Chief - Marketing & ServiceMr. Shubhro J. Mitra, Chief - Human Resources
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 en-gaged in general insurance, reinsurance, insurance claims management and Investment man-agement. 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
Mr K V Kamath, 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 :
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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.
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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.
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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, mo-
bile 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 administra-
tion 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 cur -
rent data. ICICI Bank was also dependent on Teradata for support and other activities: The
bank was completely tied down to that solution.
42Ankur PGDM
These issues compelled ICICI Bank to look for more efficient and flexible solutions. The so-
lution would have to address not only current issues, but accommodate future growth expecta-
tions 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