STUDENT DECLARATION My self BHAWANA student of BBA here by declared that the research report entitled ‘A MARKET SURVEY OF HOME LOAN WITH SPECIAL REFERENCE TO ICICI BANK” is completed and submitted under the guidance of Mr. Amit faculty of management is my original work. The imperial finding in this report is based on the data collected by me. I have not submitted this project report to Pt.DDUMC,Meerut or any other University for the purpose of compliance of any requirement of any examination or degree. BHAWANA BBA VI SEM ROLL NO.9732548 1
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STUDENT DECLARATION
My self BHAWANA student of BBA here by declared that the research
report entitled ‘A MARKET SURVEY OF HOME LOAN WITH
SPECIAL REFERENCE TO ICICI BANK” is completed and
submitted under the guidance of Mr. Amit faculty of management is
my original work. The imperial finding in this report is based on the data
collected by me. I have not submitted this project report to
Pt.DDUMC,Meerut or any other University for the purpose of compliance
of any requirement of any examination or degree.
BHAWANA
BBA VI SEM
ROLL NO.9732548
1
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PREFACE
Marketing is a social & managerial process by which an individual and group obtain what they
need and want through creating offering and exchanging products of value with others.
Marketing is getting the right good and services to the right people to the right place, at the right
time at the right place with the right communication and promotion. It is the art of creating and
satisfying customer at a profit.
Advertising is one of the major tools of companies to direct pervasive communication to target
buyers and publics. An identified sponsor defines it as any paid from and non personal presentation
and promotion of ideas, goods or services.
Advertising is a cost effective way to disseminate message whether it is to saving account of ICICI
bank and give best service in Loan.
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ACKNOWLEDGEMENT
Presenting a Summer Training project of this type is an arduous task, demanding a lot of
time. I cannot in full measure appreciate and acknowledgement the kindness shown and
help extended by various persons in this endeavor. I will remember all of them with
gratitude.
I must, however, especially Render & My special sincere thanks towards
Mr. AVNISH SRIVASTAVA (Regional Credit Manager), for giving me a chance to take
this project and for his valuable guidance, which helped me on all those points, which I
needed to include in, with full intensity.
My sincere thanks are also due to Mr.Amit Faculty of Management , &
for their significant help extended for the successful completion of the project. I highly the
help I got from them in providing me and lot of information regarding the functioning of
this organization.
I am really appreciative this organization (ICICI Bank, including all employees) for full co-
operation, support and motivation that they extended to me in completing my project here.
I am always beholden to my God, for always being with me and showing me the
right ways, my family, for always doing favors to me and my friends and colleagues
consistently helped with encouragement and criticism throughout the project work, for
always lifting my sights to higher vision, raising my personality beyond normal limitation
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and for realizing me my strengths and potential, as I did not always welcome her
exhortation, “try again; you can do better.” But this project owes a great deal to it – and so
do I.
BHAWANA
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CONTENTS
• INTRODUCTION 8
• COMPANY PROFILE 22
• HISTORY OF THE COMPANY 27
• PRODUCT PROFILE 33
• HOME LOAN IN ICICI BANK 56
• RESEARCH METHODOLOGY 75
• OBJECTIVE OF THE STUDY 77
• COLLECTION OF DATA 84
• DATA ANALYSIS 87
• FINDINGS 97
• RECOMMENDATIONS AND SUGGESTIONS 99
• LIMITATIONS 102
• BIBLIOGRAPHY 104
• QUESTIONNAIRE 105
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INTRODUCTION
Banking is the backbone of a modern economy. Health of banking industry is one of the
most important pre-conditions for sustained economic progress of any country. The world of
banking has assumed a new dimension at the dawn of the 21st century with the advent of tech
banking, thereby lending the industry a stamp of universality. In general, banking may be classified
as retail and corporate banking. Retail banking, which is designed to meet the requirements of
individual customers and encourage their savings, includes payment of utility bills, consumer
loans, credit cards, checking account balances, ATMs, transferring funds between accounts and the
like. Corporate banking, on the other hand, caters to the needs of corporate customers like bills
discounting, opening letters of credit and managing cash.
The Indian banking scene has changed drastically with the private sector making inroads in
an area hitherto dominated by large public sector banks. Growing disinvestment is likely to impact
the banking industry as well. There is every possibility of privatization of public sector banks,
leading to greater operational autonomy.
The development of the Indian banking sector has been accompanied by the introduction of
new norms such as Income Recognition and Capital Adequacy, by the government. The latter
implies that banks can lend on the basis of their respective capital base. These norms have caused
banks to construct equity on their own, before going in for debt. Disintermediation is a real threat
for banks. Of late, banks are adopting the EVA (Economic Value Added) concept wherein
revenues are viewed in the context of the risk associated with them.
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The New World order has ensured "Survival of the Fittest". New services are the order of
the day, in order to stay ahead in the rat race. Banks are now foraying into net banking, securities,
consumer finance, housing finance, treasury market, merchant banking and insurance.
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BANKING STRUCTURE
The Indian banking industry, which has Reserve Bank of India as its regulatory authority,
is a mix of the public sector, private sector, and foreign banks. The private sector banks are again
split into old banks and new banks.
SCHEDULED BANKS
Scheduled commercial banks are those that come under the purview of the Second
Schedule of Reserve Bank of India (RBI) Act, 1934. The banks that are included under this
schedule are those that satisfy the criteria laid down vide section 42 (60 of the Act). Some co-
operative banks come under the category of scheduled commercial banks though not all co-
operative banks.
PUBLIC SECTOR BANKS
Public sector banks are those in which the Government of India or the RBI is a majority
shareholder. These banks include the State Bank of India (SBI) and its subsidiaries, other
nationalized banks, and Regional Rural Banks (RRBs). Over 70% of the aggregate branches in
India are those of the public sector banks. Some of the leading banks in this segment include ICICI
Bank, Canara Bank, Bank of Maharashtra, Central Bank of India, Indian Overseas Bank, State
Bank of India, State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Travancore,
Bank of Baroda, Bank of India, Oriental Bank of Commerce, UCO Bank, Union Bank of India,
Dena Bank and Corporation Bank.
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PRIVATE SECTOR BANKS
Private banks are essentially comprised of two types: the old and the new. The old private
sector banks comprise those, which were operating before Banking Nationalization Act was passed
in 1969. On account of their small size, and regional operations, these banks were not nationalized.
These banks face intense rivalry from the new private banks and the foreign banks. The banks that
are included in this segment include: Bank of Madura Ltd. (now a part of ICICI Bank), Bharat
Overseas Bank Ltd., Bank of Rajasthan, Karnataka Bank Ltd., Lord Krishna Bank Ltd., The
Catholic Syrian Bank Ltd., The Dhanalakshmi Bank Ltd., The Federal Bank Ltd., The Jammu &
Kashmir Bank Ltd., The Karur Vysya Bank Ltd., The Lakshmi Vilas Bank Ltd., The Nedungadi
Bank Ltd. and Vysya Bank. The new private sector banks were established when the Banking
Regulation Act was amended in 1993. Financial institutions promoted several of these banks. After
the initial licenses, the RBI has granted no more licenses. These banks are gearing up to face the
foreign banks by focusing on service and technology. Currently, these banks are on an expansion
spree, spreading into semi-urban areas and satellite towns. The leading banks that are included in
this segment include Bank of Punjab Ltd., Centurion Bank Ltd., Global Trust Bank Ltd., HDFC
Bank Ltd., ICICI Banking Corporation Ltd., IDBI Bank Ltd., Induced Bank Ltd. and UTI Bank
Ltd.
FOREIGN BANKS
The operations of foreign banks, though similar to that of other commercial Indian banks,
are mainly confined to metropolitan areas. Foray of foreign banks depends on reciprocity,
economic and political bilateral relations. An inter-departmental committee has been set up to
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endorse applications for entry and expansion. Foreign banks, in the wake of the liberalization era,
are looking to expand and diversify. Some of the leading foreign banks that operate in India are
Citibank, Standard Chartered Grindlays Bank, Hong Kong Shanghai Banking Corporation, Bank
of America, Deutsche Bank, Development Bank of Singapore and Banque National De Paris.
PUBLIC SECTOR BANKING – AT A DISADVANTAGE
Functioning of Public Sector Banks (PSBs), which are yet to achieve computerization
across the board, is at a relative disadvantage when compared to the private sector, which is
offering state-of-the-art facilities such as ATMs, doorstep banking, banking on phone, and net
banking. PSBs also suffer from huge costs of labor and low levels of automation. At this rate, it
may not be long before new channels devised by private banks effectively surpass the number of
branch networks offered by the PSBs.
This apart, the problems which have assumed enormous proportion today as far as Public
Sector banks are concerned are ballooning NPA levels, declining margins, poor credit off-take,
high overheads, and lack of good quality assets. Banks are sticking to reliable borrowers for fear of
bad debts. In fact, banks largely invest in government securities, which have zero risk. With GOI
being the single largest borrower, the yields on these securities determine the interest rates.
The government aims to decrease its shareholding in PSBs to 33%, however, at the same
time it also wants to retain the controlling stake. This, it is feared, is not going to solve the
problems which PSBs are coping with now.
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PRIVATE SECTOR BLOOMS
Corporate governance and self-regulation are the ground rules for the private sector.
Government interference is not preferred. While some private banks such as ICICI Bank, UTI
Bank and IDBI Bank have financial institutions backing them, others are opting for foreign
partnerships for technology and monetary resources.
Private banks have emerged relatively strong, with about 60% growth reported in net
profits in the year ended March 2000. With a net profit of Rs.120 crores (+46%), HDFC was the
clear leader. IDBI Bank, however took the cake by doubling its net profit, which reached Rs.60.99
crores in March 2000.The jump in profits can mainly be attributed to non-traditional sectors such
as commission, exchange, brokerage, and profit on sale of investments.
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RBI POLICIES
The RBI does not interfere in determining the prime lending rates for commercial banks.
The onus is on banks to do so. RBI regulates interest rates on savings accounts, export credit, and
credit for small and tiny sectors. The rates fixed by RBI are quite low at 7%, 5%, and 4%
respectively for Bank Rate, Repo Rate, and savings account rate. Fixing rates on bank credit is the
discretion of the banks. Though banks are allowed to offer variable interest rates on longer-term
deposit rates, they continue to offer fixed deposit rates.
Current account transaction norms eased
Norms on current account transactions were eased, in line with the Foreign Exchange
Management Act (FEMA). The Basic Travel Quota (BTQ) has been raised from US$3,000 to
US$5,000, without the need for central bank’s approval. Capital account restrictions related to
dealing in assets with residents and non-residents have also been relaxed.
RBI to launch liquidity adjustment facility
The Reserve Bank of India (RBI) is launching its new liquidity adjustment facility (LAF),
effective June 5. The first phase would see the withdrawal of additional collateralised lending
facilities, and Tier-II refinance to banks. The 5% fixed rate Repo will also be withdrawn. The
facilities of collateralised lending and Tier-I refinance facilities will continue.
The Central government has granted approval to banks during the current financial year to make a
foray into forward trading in gold by including gold on the list of commodities eligible for hedging
under the Forward Contract (Regulation) Act, 1952.
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MEASURES ADOPTED BY RBI
Measures to increase liquidity and decrease the cost of funds to banks
• Bank rate cut by 1% from 8% to 7%
• CRR cut by 0.5%, from 8% to 7.5%
• Repo rate cut by 1%, from 6% to 5%
Savings deposit rate for scheduled commercial banks cut from 4.5% to 4.0%
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MAJOR COMPETITORS
STATE BANK OF INDIA
It is India's largest bank with assets worth Rs.2, 615 billion. SBI also has the distinction of having
the world’s largest branch network of 9,000 branches. The bank has a share of about 22% of
India's loans and deposits, and is a top player in trade finance and forex. Through its subsidiaries,
SBI is also a leading provider of other financial products like mutual funds, investment banking,
housing finance and factoring. SBI has a market share of one-fifth of the banking sector in India.
Nationalized banks and SBI and its subsidiaries form the heart of the Indian banking system. These
two entities operate 70% of the total branches spread across the length and breadth of India.
BANK OF INDIA
As one of the leading public sector Indian banks, Bank of India has the distinction of being the first
bank to open a branch outside India. The bank, which currently has overseas operations in about 10
countries, is one of the leaders in financing foreign trade. It is one of the few Indian banks that
provide tele-banking facilities, Remote Access Terminals for corporate clients, and Signature
Retrieval System. Some of the recent forays made by the bank in terms of its business operations
include bullion business and demat services.
SYNDICATE BANK
It is a pioneer in terms of the introduction and adoption of a model banking policy that suits India
and other developing countries. The bank, which is synonymous with progressive banking in India,
has a strong presence in rural India. The bank was nationalized in 1969. Syndicate Bank has
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correspondent relations with 400 banks from all over the globe. The bank is also one of the leading
players in the foreign exchange market.
Citibank, idbi, hdfc,hsbc
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CHALLENGE FOR THE INDIAN BANKING SECTOR
Indian banks have a long way to go before they reach the size of their international counterparts.
Even the biggest Indian bank, State Bank of India, is nowhere on the international scale, with
assets in the range of $50billion. Absence of significant scale benefits and higher implicit costs of
several services are perpetuating the poor ranking of Indian banks in the international league
tables.
Shareholding structure, government regulations and sheer size of the country ensure that the
existence of Indian banks is not at stake at this stage. What is at stake is the banking support that is
available for Indian economic activity, and thereby the international competitiveness of various
sectors. What is also at stake is the scope for the banking industry to earn superior returns through
differentiated wider services.
Further, it is quite conceivable that with passage of time, as government holding in banks is
progressively divested, regulatory authorities will be unable to hold back the international giants
from buying out Indian banks. Even economies with a "domestic mindset", such as France and
Germany, have been forced to bow before the international capital market forces.
It would be a shame if painstakingly built retail strength is offered on a platter to some predator.
The challenge can be met through some concerted action -
Government
The Government needs to do away with artificial fragmentation of the financial
sector. A case in point is the segregation of banks and financial institutions induced by
policy. If this is changed, we may well see mergers between the two sectors to create
19
organizations of size. Why not a merger of Industrial Development Bank of India with
Bank of Baroda, or even better with State Bank of India? This would definitely lead to a
merger between ICICI and ICICI Bank and for that matter between HDFC and HDFC
Bank. The possibilities are interesting and numerous.
Domestic Banks
Domestic Banks - private as well as public - need to continuously explore options to acquire
or merge with other institutions to enhance their size, service or skill-set. This could also
mean looking beyond the national boundaries as truly global corporations do.
New Initiatives
The recent crisis in the Far East has demonstrated the need for a robust banking
sector. Therefore the whole structure of Regional Rural Banks (RRBs) and Urban Co-
operative Banks (UCBs) needs to be strengthened. The focus that FMCG companies such
as Hindustan Lever have given to the rural sector proves that private sector interest is not
limited to the cities and major towns. Technological changes (such as wireless
communication, net etc.) have drastically changed the communications scenario. This may
be the time to come out with interesting initiatives with regard to structure of RRBs and
UCBs so that private sector organizations - banks as well as non-banks - play a greater role
in meeting the needs and aspirations of hitherto neglected parts of the country.
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Social considerations
The full benefit of mergers can only be realized if they are followed up with some hard
measures such as re-location / closure of branches, rationalization of employee strength etc. It
would be a welcome change if the management and unions collaborate in seeking appropriate
social security from the Government - financed out of the divestment of stake in these banks.
Indian banking has to operate with a global mindset even while fulfilling local banking
requirements. By joining in the effort to make this happen, we will get the banking service we
need. Else, we will deserve the banking service we get.
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COMPANY PROFILE
ICICI Bank is India's second-largest bank with total assets of about Rs. 1 trillion and a network of
about 540 branches and offices and over 1,000 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, asset management and information technology. ICICI
Bank's equity shares are listed in India on stock exchanges at Chennai, Delhi, Kolkata and
Vadodara, 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).
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 services group offering a wide
variety of products and services, both directly and through a number of subsidiaries and affiliates
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like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial
institution from non-Japan Asia to be listed on the NYSE.
After consideration of various corporate structuring alternatives in the context of the emerging
competitive scenario in the Indian banking industry, and the move towards universal banking, the
managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank
would be the optimal strategic alternative for both entities, and would create the optimal legal
structure for the ICICI group's universal banking strategy. The merger would enhance value for
ICICI shareholders through the merged entity's access to low-cost deposits, greater opportunities
for earning fee-based income and the ability to participate in the payments system and provide
transaction-banking services. The merger would enhance value for ICICI Bank shareholders
through a large capital base and scale of operations, seamless access to ICICI's strong corporate
relationships built up over five decades, entry into new business segments, higher market share in
various business segments, particularly fee-based services, and access to the vast talent pool of
ICICI and its subsidiaries. In October 2001, the Boards of Directors of ICICI and ICICI Bank
approved the merger of ICICI and two of its wholly owned retail finances 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 Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai
and the Reserve Bank of India in April 2002. Consequent to the merger, the ICICI group's
financing and banking operations, both wholesale and retail, have been integrated in a single entity.
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BOARD MEMBERS:
MR. N. VAGHUL, CHAIRMAN
MR. UDAY M. CHITALE
MR. P.C. GHOSH
DR. SATISH C. JHA
MR. L. N. MITTAL
MR. ANUPAM PURI
MR. VINOD RAI
MR. SOMESH R. SATHE
MR. P.M. SINHA
MR. R. SESHASAYEE
MR. M.K. SHARMA
PROF. MARTI G. SUBRAHMANYAM
MR. K.V. KAMATH, MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER
MS. LALITA D. GUPTE, JOINT MANAGING DIRECTOR
MS. KALPANA MORPARIA, EXECUTIVE DIRECTOR
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MR. S. MUKHERJI, EXECUTIVE DIRECTOR
MS. CHANDA KOCHHAR, EXECUTIVE DIRECTOR
DR. NACHIKET MOR, EXECUTIVE DIRECTOR
26
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HISTORY OF COMPANY
1994
The Bank was incorporated on 5th January at Baroda. ICICI Bank was promoted by ICICI and
erstwhile SCICI Ltd. and received the Certificate for Commencement of Business on 24th
February. It does banking business of all kinds. It was founded as an institution to provide quality-
banking services using state-of-the-art technology.
1996
The deposit products and other services of the bank were branded with names such as
`Maxicash' for services accounts, `Money Plus' for Current Account, `Quantum' for fixed deposit
account, `Power Pay' for payroll accounts treasure chest for locker facilities and `Trice' for
automated teller machine facility.
The Bank had, in compliance with a directive issued by RBI, deposited in aggregate Rs 88.16
crores with small Industrial Development Bank of India and National Bank for Agricultural &
Rural Development.
The `B' category branches were authorised to handle full range of foreign exchange transaction
of customers and five other branches were placed in `C' category to handle limited foreign
exchange transactions.
Seven branches of the bank with substantial foreign exchange business were linked to the
society for worldwide Interbank Telecommunication (SWIFT) network which enables them to
transmit Letter of Credit and fund transfer messages promptly world wide.
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700 No. Of equity shares subscribed for by signatories to the Memorandum of Association.
1500,00,000 No. Of equity shares allotted to ICICI Ltd.
1997
The bank introduced electronic funds transfer facility. The bank has a full-fledged vigilance and
inspection department.
The Bank offered 150,00,000 No. Of equity shares of Rs 10 each at a prem., of Rs 25 per share
to ICICI.
The Bank offered for sale 412,50,200 No. Of equity shares of Rs 10 each at a price of Rs 35 per
share.
Sicom Ltd. has entered into an agreement with ICICI Bank and Dresdner Bank for providing a
counter guarantee against letters of credits (LCs) opened by its clients.
The merger of SCICI with ICICI effective from April 1, the bank has become a wholly owned
subsidiary of ICICI.
ICICI Banking Corporation, a fully-owned subsidiary of Industrial Credit & Investment Corp of
India Ltd, has finalized an offer for sale of 4 crore equity shares of Rs.10 each at a premium of
Rs.30 per share, according to merchant banking sources.
1998
ICICI Bank, which introduced Internet banking in India, is set to launch various technology-
based new services in the near future. Some of the new services include setting up of call centres
and the introduction of fund transfers between own accounts in its branches.
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ICICI Banking Corporation Ltd, the first bank in the country to go in for Internet banking, is
now all set to provide its account-holders with the facility of transferring funds across their
accounts on the Net.
1999
ICICI Bank has signed an agreement to use the NCR switchmark technology for online-
networking all its ATMs, the officials said they network would come into place in September.
ICICI Bank recently restructured its organizational structure by setting up strategic business
units for retail banking, corporate banking and forex and treasury operations, as independent profit
centres.
ICICI is all set to launch a 60-second television commercial on August 15, 1999.
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2000
ICICI Bank became the first Indian bank to list on the New York Stock Exchange with its $175-
million American depository shares issue generating a demand book 13 times its size at $2.2
billion.
The Bank proposes to bring credit cards to the "large, underserved population" in rural and
semi-urban areas.
SkyCell Communications Ltd, one of the two cellular service providers in Chennai, has
launched `Sky Banking', for which the company has tied up with ICICI Bank and HDFC Bank.
The ICICI has announced the launch of mobile banking services for its customers, using the
wireless application protocol (WAP) technology.
Ford India has tied up with ICICI Bank to introduce a scheme, enabling non-resident Indians
(NRIs) to purchase a Ford Ikon car for their friends and relatives in India.
ICICI Bank has set up an ATM facility at an Indian Oil Corporation petrodiesel outlet at
Chennai.
ICICI Bank has tied up with Chennai Telephones to provide Internet bill payment facility to its
customers.
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CEO’s DESK
During the year, ICICI Venture has successfully laid the foundation to emerge as one of the
most successful private equity players in India. Through a series of strategic measure, the
company has been modeled on the lines of international private equity players and is on a
sound platform to gain a dominant presence in VC and PE business in the current year.
The company focussed on realizing value in each of its portfolio companies in a manner that
maximized gains for all stakeholders. This was achieved through consolidation within the
portfolio, proactive exits, additional funding support and improved corporate governance. The
Company also internally reorganized itself to create two separate teams - one to manage past
funds and the other to build sector expertise and identify attractive investment opportunities in
private equity. Special emphasis was put on managing investor expectations in terms of timely
reporting, transparency, audit etc.
These efforts have been applauded both by domestic and international investors.
Reckoned, as a pioneer for Venture Capital in India, the opportunity and timing today is right
for ICICI Venture to affirm its presence in Private Equity as well. The company has now
launched 'India Advantage Fund'
The Fund's investment philosophy is to pursue transactions with established companies that are
leaders in their own right and where there is a clear proposition for value creation. The Fund
will provide expansion capital, acquisition finance and funding for buy-out of restructured
assets/spin-off. The Fund also intends to selectively pursue opportunities arising out of
Privatization initiative of the Government.
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PRODUCT PORTFOLIO
CORPORATE BANKING RETAIL BANKING
Corporate Solutions Home Loans
Government Solutions Car & Two Wheeler Loans
Capital Market Services Consumer/Personal Loans
Agriculture Finance Saving & Term Deposit
Structured Finance Salary Account
Project Finance Roaming Current Accounts
Infrastructure Finance Investment Products
Term Loans Private Banking
Working Capital Finance NRI Services
Cash Management Services Demat Services
Trade Finance Services Credit & Debit Cards
International Banking Smart Cards
Treasury Services Bill Payment Services
Corporate Internet Banking E-Cheques
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Corporate Advisory Branches
Custodial Services ATMs
Professional Clearing Internet Banking
Membership Services Phone Banking
Youngstar account
35
PROMOTION
What's on offer
Hello ICICI brings you a host of services at your fingertips 365 days a year. A user friendly
automated service menu offers you convenient access to your account coupled with security as, all
your transactions are protected by a TPIN - The Personal password to your account. But if you do
need any assistance our officers will be glad to help you.
Whats more... this facility comes to you totally free of charge! Some of the services offered are
listed below
Savings account :
o Balance Enquiry Statement of account
o Cheque status enquiry Stop Payment
o Cheque book request
o Dial-a- draft/payorder
o ATM lost card reporting
o Request for a new ATM PIN
Fixed Deposits:
o Opening a Fixed Deposit
o Checking Fixed Deposit details
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o Request for TDS statement
Credit Cards:
o Balance and account related inquiries Statement of account
o Dial a draft/payorder
o Lost/Replacement card
o ATM pin re-issue
o Payment instructions (maybe through a letter to the Call Centre)
Others:
o Standing Instructions
o Complaints and suggestions
o Inquire about any ICICI retail product
37
RISK MANAGEMENT
Risk is an integral part of the banking business and ICICI Bank aims at the delivery of
superior shareholder value by achieving an appropriate trade-off between risk and returns. ICICI
Bank is exposed to various risks, including credit risk, market risk and operational risk. Our risk
management strategy is based on a clear understanding of various risks, disciplined risk-
assessment and measurement procedures and continuous monitoring. The policies and procedures
established for this purpose are continuously benchmarked with international best practices. A
comprehensive range of quantitative and modelling tools developed by a dedicated risk analytics
team supports the risk management function at ICICI Bank.
The Risk, Compliance & Audit Group (RCAG) is responsible for assessment, management
and mitigation of risk in ICICI Bank. This group, forming a part of the Corporate Centre, is
completely independent of all business operations and accountable to the Risk and Audit
Committees of the Board of Directors. RCAG is organised into six sub-groups: Credit Risk