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A

PROJECT REPORT ON

CUSTOMER SATISFACTION

FOR

ICICI BANK

SUBMITTED TO

UNIVERSITY OF PUNEIN PARTIAL FULFILMENT OF TWO YEAR FULL TIME

COURSEMASTER OF BUSINESS ADMINSTRATION (MBA)

SUBMITTED BY

DEEPAK KUMAR MISHRA

(BATCH 2009-2011)

ROLL NO-234

RAJMATA JIJAU SHISHAN PRASARAK MANDALS

INSTITUTE OF COMPUTER AND MANAGEMENT RESEARCH (ICMR),

DUDULGAON, PUNE-412105

UNDER GUIDENCE OF

PROF. SAMBHAJI DORGE

JULY 2010

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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. DEEP CHANDRA (RM) company project

guide, who has provided me with the necessary information and also for the support

extended out to me in the completion of this report and his valuable suggestion and

comments on bringing out this report in the best way possible.

I also thank Prof. SAMBHAJI DORGE,who has sincerely supported me with the

valuable insights into the completion of this project.

I am grateful to all faculty members of my college and my friends who have helped

me in the successful completion of this project.

Thanking You

Deepak Kumar Mishra

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INDEX

SR.NO. CHAPTER TITTLE

PAGE

NO.

1 EXCUTIVE SUMMARY

2 INTRODUCTION

3 RESEARCH OBJECTIVE

4 COMPANY PROFILE

5 PRODUCT AND CUSTOMER SEGMENTS

6 RESEARCH METHODOLOGY

7 COMPANY EFFORTS TO ENSURE CUSTOMER SATISFACTION

8 DATA ANALYSIS

9 COMPARISON WITH SBI

10 SWOT ANALYSIS

11 FINDING

12 SUGGESTION

13 CONCLUSION

14 BIBLIOIGRAPHY

15 QUESTIONNAIRES

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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--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 80s 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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INT TION

The banking secti n 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 comingfew years.

The banker of all banks, Reserve Bank of India (RBI), the Indian Banks Association

(IBA) and top 20 banks like IDBI, HSBC, ICICI, AB AMR , etc. has been well

defined underthree separate heads with one page dedicated to each bank.

However, in the introduction part ofthe entire banking cosmos, the past has been well

explained underthree different heads namely:

History ofBanking in India

Nationali ation ofBanks in India

Scheduled CommercialBanks 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

nationali ed 14 private banks in the mentioned year. This has been elaborated in

Nationali ation 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 commercialbank.

Banking structure in India

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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)

y NationalizedBank

y Other PublicSector Banks(IDBI)

y SBI and itsAssociates

y Old PrivateBanks

y New PrivateBanks

(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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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.

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Phase I

The General Bank of India was set up in the year 1786. Next came Bank of Hindustan

and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of

Bombay (1840) and Bank of Madras (1843) as independent units and called it

Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of

India was established which started as private shareholders banks, mostly Europeans

shareholders.

In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab

National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and

1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank,

and Bank of Mysore were set up. Reserve Bank of India came in 1935.

During the first phase the growth was very slow and banks also experienced periodic

failures between 1913 and 1948. There were approximately 1100 banks, mostly small.

To streamline the functioning and activities of commercial banks, the Government of

India came up with The Banking Companies Act, 1949 which was later changed to

Banking Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965).

Reserve Bank of India was vested with extensive powers for the supervision of banking

in India as the Central Banking Authority.

During those days 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.

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Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on 19th

July, 1969, major process of nationalization was carried out. It was the effort of the then

Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country

was nationalized.

Second phase of nationalization Indian Banking Sector Reform was carried out in 1980

with seven more banks. This step brought 80% of the banking segment in India under

Government ownership.

The following are the steps taken by the Government of India to Regulate Banking

Institutions in the Country:

1949: Enactment of Banking Regulation Act.

1955: Nationalization of State Bank of India.

1959: Nationalization of SBI subsidiaries.

1961: Insurance cover extended to deposits.

1969: Nationalization of 14 major banks.

1971: Creation of credit guarantee corporation.

1975: Creation of regional rural banks.

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

After the nationalization of banks, the branches of the public sector bank India rose to

approximately 800% in deposits and advances took a huge jump by 11,000%.

Banking in the sunshine of Government ownership gave the public implicit faith and

immense confidence about the sustainability of these institutions.

Phase III

This phase has introduced many more products and facilities in the banking sector in its

reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was

set up by his name which worked for the liberalization of banking practices.

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The country is flooded with foreign banks and their ATM stations. Efforts are being put

to give a satisfactory service to customers. Phone banking and net banking is introduced.

The entire system became more convenient and swift. Time is given more importance

than money.

The financial system of India has shown a great deal of resilience. It is sheltered from

any crisis triggered by any external macroeconomics shock as other East Asian

Countries suffered. This is all due to a flexible exchange rate regime, the foreign

reserves are high, the capital account is not yet fully convertible, and banks and their

customers have limited foreign exchange exposur

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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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COMPANY PROFILE

HISTORY

ICICI Bank (formerly Industrial Credit and Investment Corporation of India). ICICI

Limited was established in 1955 by the World Bank, the Government of India and the

Indian Industry, for the promotion of industrial development in India by giving project

and corporate finance to the industries in India.

ICICI Bank has grown from a development bank to a financial conglomerate and has

become one of the largest public financial institutions in India. ICICI Bank has financed

all the major sectors of the economy, covering 6,848 companies and 16,851 projects. As

of March 31, 2000, ICICI had disbursed a total of Rs.1,13,070 crores, since inception.

ICICI BANK FACT FILES:

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

Network: 530 branches

ATMs: Over 1,880

Abroad Subsidiaries: United Kingdom and Canada

Abroad branches: Singapore and Bahrain

Representative offices: United States, China, United Arab Emirates, and Bangladesh

and South Africa.

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ICICI Bank is India's second-largest bank with total assets of about Rs. 2,513.89 bn

(US$ 56.3 bn) at March 31, 2006 and profit after tax of Rs. 25.40 bn (US$ 569 mn) for

the year ended March 31, 2006 (Rs. 20.05 bn (US$ 449 mn) for the year ended March

31, 2005). ICICI Bank has a network of about 614 branches and extension counters and

over 2,200 ATMs. ICICI Bank offers a wide range of banking products and financial

services to corporate and retail customers through a variety of delivery channels and

through its specialized subsidiaries and affiliates in the areas of investment banking, life

and non-life insurance, venture capital and asset management. ICICI Bank set up its

international banking group in fiscal 2002 to cater to the cross border needs of clients

and leverage on its domestic banking strengths to offer products internationally.

ICICI Bank (BSE: ICICI) ( Industrial Credit and Investment Corporation of India) is

India's largest private sector bank in market capitalization and second largest overall in

terms of assets. Bank has total assets of about USD 100 billion (at the end of March

2008), a network of over 1,491 branches, 22 regional offices and 49 regional processing

centers, about 4,485 ATMs (at the end of September 2008), and 24 million customers (at

the end of July 2007). ICICI Bank offers a wide range of banking products and financial

services to corporate and retail customers through a variety of delivery channels and

specialized subsidiaries and affiliates in the areas of investment banking, life and non-

life insurance, venture capital and asset management. (These data are dynamic.) ICICI

Bank is also the largest issuer of credit cards in India. ICICI Bank has got its equity

shares listed on the stock exchanges at Kolkata and Vadodara, Mumbai and the National

Stock Exchange of India Limited, and its ADRs on the New York Stock Exchange

(NYSE).

The Bank is expanding in overseas markets and has the largest international balance

sheet among Indian banks. ICICI Bank now has wholly-owned subsidiaries, branches

and representatives offices in 18 countries, including an offshore unit in Mumbai. This

includes wholly owned subsidiaries in Canada, Russia and the UK (the subsidiary

through which the hisave savings brand is operated), offshore banking units in Bahrain

and Singapore, an advisory branch in Dubai, branches in Belgium, Hong Kong and Sri

Lanka, and representative offices in Bangladesh, China, Malaysia, Indonesia, South

Africa, Thailand, the United Arab Emirates and USA. Overseas, the Bank is targeting

the NRI (Non-Resident Indian) population in particular.

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ICICI reported a 1.15% rise in net profit to Rs. 1,014.21 crore on a 1.29% increase in

total income to Rs. 9,712.31 crore in Q2 September 2008 over Q2 September 2007. The

bank's current and savings account (CASA) ratio increased to 30% in 2008 from 25% in

2007.

ICICI Bank currently has subsidiaries in the United Kingdom, Russia and Canada,

branches in Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai International Finance

Center and representative offices in the United States, United Arab Emirates, China,

South Africa and Bangladesh. Our UK subsidiary has established a branch in Belgium.

ICICI Bank is the most valuable bank in India in terms of market capitalization.

ICICI Bank's equity shares are listed in India on the Bombay Stock Exchange and the

National Stock Exchange of India Limited and its American Depositary Receipts

(ADRs) are listed on the New York Stock Exchange (NYSE).

ICICI Bank has formulated a Code of Business Conduct and Ethics for its Directors

and employees. At June 5, 2006, ICICI Bank, with free float market capitalization of

about Rs. 480.00 billion (US$ 10.8 billion) ranked third amongst all the companies

listed on the Indian stock exchanges.

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

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

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

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

acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and

secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002.

ICICI was formed in 1955 at the initiative of The World Bank, the Government of Indiaand 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

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only project finance to a diversified financial service group offering a wide variety of

products and services, both directly and through a number of subsidiaries and affiliates

like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or

financial institution from non-Japan Asia to be listed on the NYSE.

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

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

Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The

merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the

High Court of Gujarat at Ahmadabad in March 2002, and by the High Court of

Judicature at Mumbai and the Reserve Bank of India in April 2002. Consequent to the

merger, the ICICI group's financing and banking Operations, both wholesale and retail,

have been integrated in a single entity.

Free float holding excludes all promoter holdings, strategic investments and Cross

holdings among public sector entities.

VISION

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

MISSION

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

service.

Expand the frontiers of our business globally. Play a proactive role in the full realization of Indias potential.

maintain a healthy financial profile and diversify our earnings across businessesand 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.

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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. Projectfinancing, deal assessment, and land evaluation are investment banking services offeredto corporate clients. Global trade and cash management transaction services facilitate

remittances and receipts across important cities. Capital market and custodial servicesenable business houses to participate in equity trading and transfer across major stockmarkets 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

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cost, he said ICICI bank, presently, has above 2 crore customers. The lender opened

nearly 470 branches in the last fiscal. The lender has also plans to launch 'SMS n Cash'

scheme later this week under which ICICI account holders can transfer funds to those

who do not have a bank account. ICICI bank is strongly committed to protecting the

privacy of its customers and has taken all necessary and reasonable measures to protect

the confidentiality of the customer information and its transmission through the world

wide web and it shall not be held liable for disclosure of the confidential information

when in accordance with this privacy commitment or in terms of the agreements, if any,

with the customers.

ICICI bank Endeavours to safeguard and ensure the security of the information

provided by the customer. ICICI bank uses 128-bit encryption, for the transmission of

the information, which is currently the permitted level of encryption in India. When the

information provided by the customers is not transmitted through this encryption, the

customer's system (if configured accordingly) will display an appropriate message

ensuring the best level of secrecy for the customer's information.

The customer would be required to cooperate with ICICI bank in order to ensure the

security of the information, and it is recommended that the customers necessarily choose

their passwords carefully such that no unauthorized access is made by a third party. To

make the password complex and difficult for others to guess, the customers should use

combination of alphabets, numbers and special characters (like! @, #, $ etc.). The

customers should undertake not to disclose their password to anyone or keep any written

or other record of the password such that a third party could access it.

ICICI bank undertakes not to disclose the information provided by the customersto 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.

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COMPETITOR

The main competitor of is ICICI bank is SBI because this bank is totally taken by

government after this bank HDFC bank is the main competitor of ICICI bank .There are

different types of segment operation semment, investment and services, demat and NRI

services.The competitor from the operation segment are State Bank of India(SBI), Axis,

Housing Development and Financial corporation(HDFC) etc.From the investment And

service sector HDFC standard life insurance corporation, Bharati Axa life insurance

,Reliance Life Insurance Corporation, Max new work life insurance SBI Life

insurance,Life Insurance Corporation of India.In demat section India

bull,Anangram,SBI,HDFC,India Infoline are the main competitor of ICICI bank.In the

NRI service section the Western Union bank is the main competitor of ICICI bank.Thereare some other company who also compete with the ICICI bank After the SBI the

HDFC bank is the main competitor of ICICI bank.

HDFC Bank Ltd. is a commercial bank of India, incorporated in August 1994, after the

Reserve Bank of India allowed establishing private sector banks. The Bank was

promoted by the Housing Development Finance Corporation, a premier housing finance

company (set up in 1977) of India. HDFC Bank has 1,500 branches and over 2,890

ATMs, in 530 cities in India, and all branches of the bank are linked on an online real-

time basis. As of September 30, 2008 the bank had total assets of INR 1006.82 billion.

State Bank of India is the largest bank in India. It is also, measured by the number of

branch offices and employees, the second largest bank in the world.[citation needed]

The bank traces its ancestry back through the Imperial Bank of India to the founding in

1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian

Subcontinent. The Government of India nationalised the Imperial Bank of India in 1955,

with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of

India. In 2008, the Government took over the stake held by the Reserve Bank of

India.SBI provides a range of banking products through its vast network in India and

overseas, including products aimed at NRIs. With an asset base of $126 billion and its

reach, it is a regional banking behemoth. SBI has laid emphasis on reducing the huge

manpower through Golden handshake schemes and computerizing its operations.The

State Bank Group, with over 16000 branches , has the largest branch network in India. It

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has a market share among Indian commercial banks of about 20% in deposits and

advances, and SBI accounts for almost one-fifth of the nations loans.There are some

other banks which gives challenging some how in the banking and service sectorthey

are:

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

ENVIRONMENT

An employer the bank extends a lot of authority along with justified accountability to

you. The working culture is very collaborative in nature. It can be owed to the fact that

the bank is highly segmented with a lot of overlapping and mostly distinct roles and

responsibility.ICICI Bank has established itself as a one stop solution (Universal Bank)

for all financial need of individuals and institutions alike. The credit for the same can be

attributed to its vast network, probably the largest among private sector banks.This

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makes the life of an employee a lot easier, especially for those who face the external

customers. You do not have to justify your organization, it is only the product that has to

be pitched. As far as employee benefits are concerned, ICICI Bank offers a lot of

financial benefits ranging from your family health insurance to your kids school

donations. The organization is sensitive to the needs of its employees as this quality is

one of the building blocks (DNA) of the organizational culture. The organization will

be giving you enough flexibility to innovate and come-up with new ideas. It will also

exhibit its in terms of well laid systems, processes and infrastructure. It will extend a fast

track growth for those with extraordinary talent at the same time offer stability to those

who are able to deliver satisfactorily.Overall, I would say its a lifetime experience to

work with such a behemoth organization. It might not be the best paymaster but it

definitely will impress you with its capability as the head master (Principal) of banking

industry.there are huge competition between the eployee to achieve theo goal.

TECHNOLOGY

ICICI use many type of advance technological software like Pinnacle 7.0 and

Pinnacle7.016.Among from this software ICICI bank uses the e-banking, core banking,

mobile banking electronic display sy ICICI Bank was using Teradata for its datawarehouse. However, due to its proprietary hardware, the cost of procurement,

upgrades and administration was soaring. The closed box architecture of Teradata

imposed restrictions on scalability. Secondly, querying and loading could not happen

simultaneously. Queries could only be run during business hours because the loading of

data had to take place during off-business hours. This meant that the refresh rate of

EDW was delayed, so queries may not reflect the most current data. ICICI Bank was

also dependent on Teradata for support and other activities : The bank was completely

tied down to that solution.

These issues compelled ICICI Bank to look for more efficient and flexible solutions.

The solution would have to address not only current issues, but accommodate future

growth expectations and business requirements. ICICI Bank evaluated numerous data

warehousing solutions in the pursuit of solving its issues, and developed a shortlist of

alternatives for its migration proof-of-concept: Sybase, SAS and Netezza. The primary

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criteria for evaluation was the price-to-performance ratio where Sybase IQ emerged the

clear winner. During this rigorous testing, Sybase IQ delivered faster results on

independent hardware and operating systems with minimum infrastructure.

Commending the improvements achieved, Amit Sethi, Joint General Manager, ICICI

bank says, "What impressed us wasthat even with overall lower costs, we could achieve

significantly better query performanceafter implementing the Sybase enterprise

warehouse solution." ICICI Infotech today launched an enterprise resource planning

(ERP) solution for the small and medium enterprises.

The ERP package - Orion Advantage - comes bundled with an HP dual processor Xeon

server, Oracle 9i database, Windows 2003 server and costs about Rs 9.90 lakh and has a

15-user license.

An ERP package helps a manufacturer or any other business implementing it to manageall the important parts in the company such as product planning, parts purchasing,

maintaining inventory and interacting with suppliers and customers.

ICICI InfoTech officials told a press conference here today that Orion Advantage

offered a set of business practice solutions for industry segments such as engineering,

auto ancillary, pharmaceuticals, chemicals and IT distribution. Besides the cost

advantage, the ERP package also came pre-configured. ICICI InfoTech had mapped the

processes specific to each industry segment into the package.

Mr. Manoj Kunkalienkar, Executive Director and President, ICICI Infotech, said that

small and medium enterprises (SMEs) offered a good market and ICICI Infotech hoped

to become a leading solution provider to this segment.

Mr. R.K. Kanthi, Deputy General Manager, ICICI Infotech, said there was no ERP

package for the SMEs that bundled the server, database and operating system right now.

That was the advantage ICICI Infotech offered to SMEs as Orion Advantage came

bundled and pre-configured. Besides the high cost of generic ERP packages, their

implementation time as far as SMEs were concerned was also long. Orion Advantage

could be installed in 45 days.

ICICI Infotech had signed up six customers so far for the package and hoped to garner a

15 per cent market share of the SME segment, whose number in the country was

estimated at 2.30 lakh.

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Mr. K.S. Natarajan, Managing Director, Trident Pneumatics Pvt Ltd of Coimbatore, one

of the companies that had installed Orion Advantage, said that the company had tried

three other ERP packages, all of which had failed, before settling on Orion Advantage.

Mr Kunkalienkar said that ICICI Infotech planned to move the two development centers

in Chennai into a single location and double the staff strength from 300 now in the next

two years.

The Chennai centers were involved in research and development of Orion ERP solutions

and Premia, an insurance package.

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and support, we bring the right combination of resources, management skillsets, and

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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 learnhow Pinnacle Software Solutions can help you develop solutions that fityourenterprise.

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

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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 newinsurer in the life insurance industry. This they hope to achieve through theircommitment to excellence, focus on service, speed and innovation, and leveraging ourtechnological expertise.

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

y Understanding the needs of customers and offering them superior products andservice

y Building long lasting relationships with their partnersy Providing an enabling environment to foster growth and learning for their

employees

And above all building transparency in all our dealings.They believe that they can play a

significant role in redefining and reshaping the sector. Given the quality of their

parentage and the commitment of their team, they feel that tere will be no limits to theirgrowth.

Board of Directors

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

Mr.K.V.Kamath (Chairman)Mr. Mark TuckerSmt. Lalita D. GupteMr. Danny Bardin

Mrs. Kalpana MorpariaShri M.P. ModiMr. John CaouetteShri S.P.Subhedar, (Alternate Director to Mr. Danny Bardin)Mr. Derek Stott, (Alternate Director to Mr. Mark Tucker)Smt. Shikha Sharma, Managing DirectorManagement Team

Ms. Shikha Sharma, Managing DirectorMr. Kevin Wright, Executive Vice President - Sales & Distribution

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Ms. Madhavi Soman, Chief - Strategic InitiativesMr. V. Rajagopalan, Appointed ActuaryMr. Sandeep Batra, Chief Financial Officer & Company SecretaryMr. Saugata Gupta, Chief - Marketing & ServiceMr. Shubhro J. Mitra, Chief - Human Resources

Corporate Office:

ICCI Prulife Towers,

1089, Appasahab Marathe Marg,

Prabhadevi,

Mumbai 400 025.

Telephone Number: 022-462 1600

Website :www.iciciprulife.com

ICICI Lombard General Insurance Company

ICICI Lombard General Insurance Company Limited is a 74:26 joint venture betweenICICI Bank Limited and Canada based Fairfax Financial Holdings Limited. ICICIBank is India's second largest bank, while Fairfax Financial Holdings is a diversifiedfinancial corporate engaged in general insurance, reinsurance, insurance claimsmanagement and Investment management. Lombard Canada Ltd, a group company ofFairfax Financial Holdings Limited, is one of Canada's oldest property and casualtyinsurers. ICICI Lombard General Insurance Company received regulatory approvals tocommence general insurance business in August 2000.

Board Members

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

Audit Committee

Mr. S Mukherji, Chairman Mr. Dileep Choksi, Director

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Mr. James F Dowd, Director Mr. H.N. Sinor, Director

Investment Committee

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

Board Governance Committee

Ms. Kalpana Morparia, Chairperson Mr. Chandran Ratnaswami, Director Mr. H. N. Sinor, Director

Retail Segment of ICICI Lombard General Insurance :

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

Home, Motor and Travel insurances.

Health Insurance

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

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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. Theyare 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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PRODUCT AND CUSTOMERSIGMENT

ICICI Bank offers wide variety of Deposit Products to suit your requirements. Coupled

with convenience of networked branches/ATMs and facility of E-channels like Internet

and Mobile Banking, ICICI Bank brings banking at your doorstep. Select any of our

deposit products and provide your details online and our representative will contact you

for Account Opening.

SAVING ACCOUNTS

ICICI Bank offers you a power packed Savings Account with a hostof

convenient features and banking channels to transact through. So now

you can bank at your convenience, without the stress of waiting in

queues

SENIORCITIZEN SERVICES

We understand that as you reach the age to retire, you do have certain

concerns whether your hard earned money is safe and secure

whether your investments give you the kind of returns that you need.

That s why we have an ideal Banking Service for those who are 60

years and above. The SeniorCiti en Services from ICICI Bank has several advantages

that are tailored to bring more convenience and enjoymentin yourlife.

YOUNG STAR

S

It s really important to hel p children learn the value of finances and

money management at an early age. Banking is a serious business,

but we make banking a pleasure and at the same time children learn

how to manage their personal finances.

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FIXED DEPOSITS

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

unbeatable features of the Fixed Deposit from ICICI Bank.

RECURRING DEPOSITS

When expenses are high, you may not have adequate funds to make big

investments. But simply going ahead without saving for the future is not an

option for you. Through ICICI Bank Recurring Deposit you can invest small

amounts of money every month that ends up with a large saving on maturity.

So you enjoy twin advantages- affordability and higher earnings

HOME LOAN

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

Loans offers some unbeatable benefits to its customers - Doorstep

Service, Simplified Documentation and Guidance throughout the

Process. It's really easy.

PERSONAL LOANS

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

here. ICICI Bank Personal Loans are easy to get and absolutely hassle

free. With minimum documentation you can now secure a loan for an

amount up to Rs. 15 lakhs.

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CAR LOAN

The NO 1 financier for car loans in the country. Network of more than

1500 channel partners in over 780 locations. Tie-ups with all leading

automobile manufacturers to ensure the best deals. Flexible schemes &

quick processing. Hassle-free application process on the click of a

mouse.

COMMERCIAL VEHICLE LOANS

Range of services on existing loans & extended products like funding

of new vehicles, refinance on used vehicles, balance transfer on high

cost loans, top up on existing loans, Extend product, working capital

loans & other banking products.

TWO WHEELER LOANS

Avail attractive schemes at competitive interest rates from the No 1

Financier for Two Wheeler Loans in the country. Finance facility up to

90% of the On Road Cost of the vehicle, repayable in convenient

repayment options and comfortable tenors from 6 months to 36 months. Ride home on

your Dream Two Wheeler with our hassle free finance.

FARM EQUIPMENT LOANS

Preferred financier for almost all leading tractor manufacturers in the

country. Flexible repayment options in tandem with the farmer's

seasonal liquidity. Monthly, Quarterly and Half-yearly repayment

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patterns to choose from. Comfortable repayment tenures from 1 year to 9 year

CREDIT CARDS

ICICI Bank Credit Cards give you the facility of cash, convenience and

a range of benefits, anywhere in the world. These benefits range from

life time free cards, Insurance benefits, global emergency assistance

service, discounts, utility payments, travel discounts and much more.

DEBIT CARDS

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

customers to access their bank account around the clock, around the

world. The ICICI Bank Debit Card can be used for shopping at more

than 100,000 merchants in India and 13 million merchants worldwide.

TRAVEL CARD

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

world. Traveling with US Dollar, Euro, Pound Sterling or Swiss Francs;

Looking for security and convenience; take ICICI Bank Travel Card.

Issued in duplicate. Offers the Pin based security. Has the convenience of usage of

Credit or Debit card.

PRE PAID CARDS

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

providing payment solutions at your fingertips. ICICI Bank pre-paid

cards are a safe & convenient way for associate payments,

disbursements, gifting & small ticket transactions. Pre-paid cards are available on a

VISA platform thus providing accessibility to over one lakh merchant establishments &

cash withdrawal from all VISA ATMs in India.

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INVESTMENTS

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

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

investment options ranging from ICICI Bank Tax Saving Bonds to Equity Investments

through Initial Public Offers and Investment in Pure Gold. ICICI Bank facilitates

following investment products:

ICICI Bank Tax Saving Bonds

Government of India Bonds

Investment in Mutual Funds

Initial Public Offers by Corporate

Investment in "Pure Gold"

Foreign Exchange Services

Senior Citizens Savings Scheme, 2004

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

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

Internet (ICICIdirect.com)

ICICI Bank Bonds

All ICICI Bank Bonds have been rated "AAA" by CARE and "LAAA"

by ICRA indicating the highest degree of safety for your money

All Investment in ICICI Bank Tax Saving Bonds issued up to March

2005 are eligible for tax rebate under Sec 88 to the full extent possible

Bonds are listed on BSE, NSE

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GOI Bonds

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

Reasonable investment tenure.

Nomination facility available.Cannot be traded in secondary market.

Interest income taxable.

Mutual Funds

Mutual Funds pool money of various investors to purchase a wide variety of securities

while pursuing a specific goal. Selection of Securities for the purpose is done byspecialists from the field. Returns generated are distributed to the Investors. Mutual

Fund Companies offer various schemes. Investors can choose any particular

Fund/Scheme or mix of Funds/Schemes depending upon their perception towards risk.

Investment is done on the basis of prevailing Net Asset Values of various schemes.

Mutual Funds Investments are subject to Market Risks.

Types of Funds Sold

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

Debt: Liquid schemes, Income schemes, G-sec schemes, Monthly IncomeSchemes etc.Equity: Diversified Equity Schemes, Sector Schemes, Index Schemes etc.Hybrid Funds: Balanced Schemes, Special Schemes - Pension Schemes, Childeducation Schemes etc.

At ICICI Bank we will help you identify an appropriate mix of Mutual Fund schemes

for your portfolio using asset allocation strategies. Through ICICI Bank you can invest

in various schemes of multiple mutual funds with decent performance record. You can

take the aid of our various research reports on mutual funds and their schemes before

choosing a scheme for investment. ICICI Bank offers investment in Mutual Funds

through Multiple Channels. With ICICI Bank, you can invest in Mutual Funds through

following channels.

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ICICI Bank BranchesICICIdirect.com

Dedicated workforce to serve you

Before being deputed, our officers complete a comprehensive training

program and, once deputed, they receive thorough instructions in

financial planning skills and techniques. Throughout their careers

officers also attend programs to update their skills.

All officers in charge of Mutual Funds are certified professionals by

AMFI (Association of Mutual Funds in India)

Many of these officers also hold professional degrees like - MBA, CA,

ICWA, and CFA etc.

IPO:

You can invest in IPOs online through www.icicidirect.com with same convenience of

investing in equities - hassle-free and with zero paper work. Also, get in-depth analyses

of new IPOs issues (Initial Public Offerings) which are about to hit the market. IPO

calendar, recent IPO listings, prospectus/offer documents and live prices will help you

keep on top of the IPO markets.

ICICI Bank Pure Gold

Gold has been traditionally the most favored form of investment for Indians. In fact,

India, even today is amongst the highest consumers of Gold in the world. However, the

Gold market remains largely unorganized with reliability and convenience remaining the

key issues for gold buyers in the country.ICICI Bank with its `Pure Gold' offer attemptsto bridge the gap between the need of the customers for buying gold and availability of

an organized avenue to satisfy that need, by taking care of the two key components -

Reliability and Convenience. Reliability 24 Carat ICICI Bank Pure Gold is imported

from Switzerland. This Gold carries a 99.99% Assay Certification, signifying highest

level of purity, as per international standards.

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Convenience

ICICI Bank Pure Gold is competitively priced based on daily prices in the international

bullion market. Currently, gold is available in 2.5g, 5g, 8g, 20g and 50g categories.

FOREX Services

ICICI Bank's Foreign Exchange Services will help you organize your foreign exchange

in the most hassle free manner. Whether its Foreign Currency, Travelers Cheques or

Travel Card, ICICI Bank Foreign Exchange Services is a one-stop solution to your

foreign exchange requirement.

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RESEARCH METHODOLOGY

Data Collection Techniques:

This project consists of two parts :-

The first part is a study of the banking industry, ICICI Bank using secondary data

sources. This secondary information has been sourced from the internet and from

business related magazines and newspapers.

The second part of the study has been done using an exploratory research process and a

structured questionnaire was developed for this purpose. For the collection ofprimary

data this was the only method used. The reason I used this method is because a need

was felt for the free influx of information about the products. Also this method allowed

the use of skills gained in class.

Sample Design:

The population considered for the purpose of the survey was people residing in Delhi

and the National Capital Region (NCR).

Sampling Technique Used:

Since the information required was not of a very technical nature and also looking at the

scope of the project and the extent of the target segment, the sampling technique

employed was Convenience Sampling. I administered the questionnaires.

Sample Size:

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I have restricted the sample size to 50 respondents. This was done keeping in mind the

time constraints and the fact that I felt that this number would be enough to serve the

information needs required to show the trends.

Customer satisfaction:

Customer satisfaction is equivalent to making sure that product and service performance meets

customer expectations. It is the perception of the customer that the outcome of a business

transaction is equal to or greater than his/her expectation. Customer satisfaction occurs when the

acquisition of products and /or services provides a minimum negative departure from

expectations when compared with other acquisitions and when the marginal utility of a

transaction is equal to or greater than preceding acquisitions. Customer satisfaction occurs when

the perception of the reward from the purchase of goods or services by the customer meets or

exceeds his/her perceived sacrifice. The perception is a consequence of matching past purchase

and consumption experience with the current purchase.

Customer Service and Satisfaction:

When we talk about customer service and/or satisfaction, we talk about creativity.

Creativity allows us to handle or diffuse problems at hand or later on rather in the

process of conducting the everyday business. We talk about how, or what, does the

organization have to do to gain not only the sale but also the loyalty of the customer. We

want to know the payoff of the transaction both in the short and long term. We want to

know what our customers Want? We want to know if our customers are satisfied.

Satisfaction, Of course, means that what we delivered to a customer met the customers

Approval. We want to know if customers are delighted and willing to come

Back, and so on. Fleiss 2 and Feldman 3 present examples of that delightfulness in their

writings. Fleiss has written about Ben and Jerrys ice cream and Feldman has discussed

excellence in a cab ride. As important as delightfulness is, some of us minimize it, or even

totally disregard it. At this point, we fail. Some of the issues that will guarantee failure in sales,

satisfaction, and loyalty are:

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Employees must adhere to a rigid chain of command

Employees are closely supervised

Conflictin whatever formis not allowed

Rewards are based on carrot-and-stick principles

Wrong objectives are measure.

We must understand customer expectation levels concerning quality. We must also understand

the strategy for customer service quality, and next we must understand the measurement and

feedback cycles of Customer satisfaction.

The customer is the person or unit receiving the output of a process on the system. In fact, it is

worth emphasizing that a customer can be the immediate, intermediate, or ultimate customer.

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

satisfaction, however, is when the customer is satisfied with a product/service that meets

the customers needs, wants, and expectations.

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

Level 1.Expectations are very simple and take the form of assumptions, must have, or

take it for granted. For example, I expect the airline to be able to take off, fly to my

destination, and land safely. I expect to get the correct blood for my blood transfusion

and I expect the bank to deposit my money to my account and to keep a correct tally for

me.

Level 2.Expectations are a step higher than that of level 1 and they require some form

of satisfaction through meeting the requirements and/or specifications. For example, I

expect to be treated courteously by all airline personnel. I went to the hospital expecting

to have my hernia repaired, to be in some pain after it was done, to be out on the same

day, and to receive a correct bill. And I went to the bank expecting the bank teller to be

friendly, informative, and helpful with my transactions.

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Level 3.Expectations are much higher than for levels 1 and 2. Level 3 requires some

kind ofdelightfulness or a service that is so good that it attracts me to it. For example,

an airline gives passengers traveling coach class the same superior food service that

other airlines provide only for first-class passengers. In fact, I once took a flight where

the flight attendants actually baked

cookies for us right there on the plane. When I went to the hospital, I expected staff to

treat me with respect and they carefully explained things to me. But I was surprised

when they called me at home the next day to find out how I was doing. And at my house

closing, the bank officer, representing the bank holding my mortgage, not only treated

me with respect and answered all my questions about my new mortgage, but just before

we shook hands to close the deal, he gave me a housewarming gift.

Customer satisfaction surveys help to:

Improve customer, client, or employee loyalty.

React quickly to changes in the market.

Identify and capitalize on opportunities.

Beat the competition.

Retain or gain market share.

Increase revenue.

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COMPANYS EFFORT TO ENSURE SATISFACTION OF CUSTOMERS:

Objectives of ICICI

Promote good and fair banking practices by setting minimum standards

in dealing with you

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

you can reasonably expect of the services;

Encourage market forces, through competition, to achieve higher

operating standards;

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

Foster confidence in the banking system

To Help You To Understand How Our Financial Products And Services Work By:

Giving you information about them in any one or more of the following

languages: Hindi, English or the appropriate local language.

Ensuring that our advertising and promotional literature is clear and not

misleading

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

them.

Giving you information on what are the benefits to you, how you can avail of the

benefits, what are their financial implications and whom you can contact for

addressing you queries .

To Help You Use Your Account Or Service By:

Providing you regular appropriate updates.

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

conditions.

Information

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

the following:

Looking at the notices in our branches ;

Phoning our branches or help-lines;

Looking on our website;

Asking our designated staff/help desk ;or

Referring to the service guide/Tariff Schedule.

Before You Become a Customer we will:

give you clear information explaining the key features of the services and

products you tell us you are interested in;

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

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

through

ATMs, on the Internet, over the phone, in branches and so on] and tell you how

to find out more about them;

tell you what information we need from you to prove your identity and address,

for us to comply with legal, regulatory and internal policy requirements.

Advertising, Marketing and Sales

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

misleading.

In any advertising in any media and promotional literature that draws attention to

banking service or product and includes a reference to an interest rate, we will

also indicate whether other fees and charges will apply and that full details of the

relevant terms and conditions are available on request.

If we avail of the services of third parties for providing support services, we will

require that such third parties handle your personal information (if any available

to such third parties) with the same degree of confidentiality and securityas we

would.

We may, from time to time, communicate to you various features of our products

availed by you. Information about our other products or promotional offers in

respect of our products/services, will be conveyed to you only if you have given

your consent to receive such information/ service either by mail or by registering

for the same on our website or on our phone banking/customer service number.

We have prescribed a code of conduct for our Direct Selling Agencies (DSAs)

whose services we may avail to market our products/ services which amongst

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other matters requires them to identify themselves when they approach you for

selling our products personally or through phone.

In the event of receipt of any complaint from you that our representative/courier

or DSA has engaged in any improper conduct or acted in violation of this Code,

we shall take appropriate steps to investigate and to handle the complaint and to

make good the loss.

Privacy and Confidentiality

We will treat all your personal information as private and confidential [even

when you are no longer a customer], and shall be guided by the following

principles and policies.

DATA ANALYSIS

1. WHICH OF THE FOLLOWING ATTRIBUTES COMPELLEDYOU TO MOST OPEN SAVING ACCOUNT IN ANY BANK?

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2:-WHICH TYPE OF SERVICEPREFERS THE MOSTBY YOU

3:-WHICH OF FOLLOWING BANKS DO YOU HAVE ACCOUNT

50%

20%

15%

5%10%

services prefer most by customer

ATM

Net Banking

Core Banking

Mobile Banking

Retail Banking

37%

17%

15%

21%

10%

People Like To Open an A/c

ATM

CHEQUE BOOK

Internet Banking

working Hour

Value added Services

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

20

8

65

0

5

0

5

20

25

SB

xs

fc

hes

Custo H ing B n A/C

s

me

v

B

/

50

10

43

12

0

10

20

30

40

50

60

Saving Current FixedDeposit

Others

Customer Having A/C

Customer Having A/C

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5:-HOW MANY SERVICES OFFERED BY YOURBANKS HAVEBEEN USED

BY YOU?

6:-HOW WOULD YOU KNOW ABOUTTHESE SERVICES?

19

27

22

47

0

5

10

15

20

25

30

35

40

45

50

De

at A

C Matual Fund E- tasaction LI & GI

Customer Usin Services Offered by TheirBank

Custo

er Using Services

O

ered by T

eir Bank

Adties

ent

36%

Friends & Relative

29%

Selling agent

21%

Ot ! ers

14%

Awareness

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7:-WHATTHEPEOPLETHINK ABOUTTHEBANKS?

8:-What a respondent see in purchase of new plan from Banks?

49%

33%

7%11%

People Think About Bank

Security Saving I"

position o#

a burden o#

e$penses Ot

%ers

Standing and

goodwill o & t' e

co(

pany

41%

Product range o & t

'e co

(pany

13%

Services being

given by t % e

co(

pany28%

Advertise" ent

being released by

t%

e co"

pany

18%

Peope See In Perchasin New Plan

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9:-Is ICICI Bank Provide better facilities than SBI & HDFC Bank?

10:-Do you know what type of value added services provide by ICICI BANKS?

38%

45%

1 ) %

Services

Yes No Can`t Say

10

50

31

11

31

0

10

20

30

40

50

0 0

Young Star Senior

Citizen

Recurring

Deposits

Ot1

ers Pre-Paid

Cards

Awareness About Value Add Services

Awareness About Value Add

Services

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11:-How would you rate product offered ICICI Bank than other?

Very Good Good Moderate Less Poor

Rating 5 4 3 2 1

12:-How would you rate product service / product vs. cost by ICICI Bank?

34%

2 3 %

17%

13%3 %

Product Ran e

Very Good Good Moderate Less Poor

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13:-How would you divide 100 points on the basis of service provide by ICICI Bank?

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

14%

30%

45%

11%

Cost

4 5r

6Hig

7Hig

7 8 9d

5rat

5 @ 5 A A

28%

43%

21%

8%

Services Provided by Bank

@ 5 A A

B 9

rC

alit6

Fl5 D

ibilit6 @ 5 A A

d9

cuC 5

ntati9

n9

t7 5

rA

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COMPARISON OF ICICI WITH SBI

EE treF ely

SatisG action

12%

SatisG action

34%

Moderate

20%

DissatisH action

26%

EItre

Pely

DissatisH action

8%

Satisfaction

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ICICI bankis the largest private sector bank in India and the second largest commercial

bank in India. It has branches all over India and even in smaller towns in South India

after the takeover of Bank of Madurai. The bank also has foreign subsidiaries like ICICI

bank, Canada in Canada, Britain and Russia ,representative offices in USA, China,

UAE, Bangladesh, South Africa and branches in Bahrain, Singapore .

It offers a platform for online share trading through ICICI Direct and insurance

services - ICICI Prudential. NRI services include money transfer through

Money2India, which offer better foreign exchange rates for lower amounts

compared to other services.

Like most private sector banks, all ICICI bank branches in India are networked.

You can access your account from any ICICI bank branch in India. Anyone can

also deposit cash/local cheque in your account at any branch of ICICI bank.

Also they have very convenient bank timings and are open for 12 hours from

8.00 a.m to 8 p.m from Monday to Saturday. When you deposit a cheque at their

branch, they will readily give you a stamped acknowledgement for deposit. You

can only deposit cash in your own account at the ATM, for depositing cash into a

third party account, you have to visit the branch. You have to select the deposit

cash option, you will get an envelope for depositing cash, which you can then fill

in the details and deposit it back. At locations where ICICI bank does not have a

branch, the queue at the ATMs is very long. Just after office hours , between 6

pm - 7.30 pm, customers sometimes have to wait for 15-20 minutes on some

days, to access the ATM.

Since ICICI bank was established after 1991 it offers online banking where you

can check the balance in your account any time. The interface for savings

accounts is much better and user friendly compared to that for their roaming

current account

However, unlike other banks like HDFC bank, their online bank statement does

not indicate the branch at which the amount is deposited. The information is

available in the email statement sent to you the next day. You have to contact

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phone banking, enter CRN and TPIN, during working hours to get this

information. Very often, the system is slow, so you have to hold on for 10

minutes.

For savings account, up to 3 cash deposits per quarter (3 months) at the non base

branch can be made at no cost. For additional cash deposits, the bank charges the

recipient Rs 100 (+ service tax) per deposit, irrespective of the amount deposited.

When the bank implemented this change, the ICICI bank customers were not

informed about the revision in the charges. For outstation cheques, ICICI bank

charges a minimum of Rs 30 (+ service tax) for savings accounts . This is very

inconvenient for account holders in small towns, who receive the dividend

warrant payable in major cities only. These warrants can be for small amounts

like Rs 20. For salary accounts, the minimum AQB required is zero and you

retain the account even after you leave the job. If your AQB is more than Rs

100000, you get a free at par chequebook. For an AQB of more than Rs 500000

(fixed deposit + savings account balance), you are eligible for private banking

services. For non maintenance of average quarterly balance, not only do they

deduct Rs 750 from your balance, they also deduct an additional service tax.

Many of the ICICI bank customers are salary account holders, who are forced by

their employers to open an account with ICICI bank to receive their salary. The

account is opened at a branch which is convenient for the employer, but

extremely inconvenient for the employee. If want any clarification or

information, their customer support (through phone banking or email) will

instruct you visit the nearest branch - where the concerned person may or may

not be available. For savings account customers if you send an email asking for

clarifications, it is usually answered after a week.

They have discontinued the auto sweep-in facility (earlier called Quantum

Optima), where the amount in savings accounts was automatically converted into

a fixed deposit, if it exceeded Rs 15000. With the decline in interest rates for

loans, providing this facility is no longer profitable for the bank. You now have

to give an application at the branch if you wish to continue with this facility now.

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The form for making the application was sent along with the monthly bank

statement. You can alternately open a recurring deposit, where a fixed amount is

added to your fixed deposit every month.

Making a new Fixed Deposit with ICICI bank for current accounts is extremely

time consuming, especially when compared to HDFC bank. They will insist that

you withdraw cash from your account for making the FD. Since withdrawals of

amounts more than Rs 25000 are subject to cash withdrawal tax, for larger

amounts , you will have to split the fixed deposit and visit the branch on 2

different days. ICICI bank is probably the only bank in India where they will not

accept a ICICI bank cheque for making a fixed deposit. We had given a cheque

with the fixed deposit form , but the bank officer insisted that we pay cash. She

said she would fill the form for us, but she did not select the options which were

initially indicated, causing further problems for us.

(SBI) is the largest public sector bank in India

SBI has branches and ATMs all over India, details of which are available at

their website. State Bank of Hyderabad, State Bank of Patiala, State Bank of

Saurashtra, State Bank of Bikaner and Jaipur ,State Bank of Indore, State Bank

of Mysore and State Bank of Travancore are the seven subsidary banks of SBI.

As of March 2006, SBI holding in these banks varies from 74% to 100% , but is

likely to decrease in future. SBI has one of the largest network of ATMs in the

Asia Pacific region. Many branches of State Bank of India are computerized. In

places where the Reserve Bank of India, (RBI) the central bank of India does

have an office, SBI carries out many of its functions. SBI timings vary according

to location, for example the Powai, Mumbai branch of State Bank of India is

open between 10.15 am to 2pm (Monday-Friday

You can open a public provident fund (PPF) account at any State Bank of India

branch. PPF accounts are one of the few savings instruments which offer a high

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tax free interest rate of 8% per year. All deposits made on or before 5th of a

month earn interest for the entire month. If you deposit a cheque in your PPF

account on the 5th of the month, you will get interest for the month, though your

account may be debited at a later date. The interest is credited to the account at

the end of the accounting year in India.

If you know an agent who is registered with that particular branch of State Bank

, he will pay you back, a part of the commission he receives from the bank.

So you can get back 0.5% - 0.6% of the amount deposited immediately by cash.

Usually larger the amount, the higher the commission paid back by the agent (it

is negotiable) . The pay-in slip for PPF has 3 sections - depositors copy, agents

copy and bank copy. The agents copy has to be given to the agent and he will

give part of the commission. Earlier financial services firm like Blue-chip in

Mumbai, would also give a commission of 0.25% , but they have stopped in the

last 2 years.

The minimum amount that can be invested in one year is Rs 500 and maximum

amount is Rs 70000. This investment has a lock in period of 15 years. No

withdrawals are allow till 6 years after account opening and one withdrawal is

allowed per year there after. It offers rebate under section 80C and the interest is

tax free under section 10C.

For cash withdrawals, you can either use a withdrawal slip or cheque. If an

account is inactive for a long time, State Bank of India does not charge any fee

for reactivation. However, they have a verification process, which may take a

long time. Payment of income tax, advance tax, sales tax can be done at SBI

branches. Foreign currency drafts can also be obtained at the branches. Since

SBI offers a variety of banking services, their branches are usually very

crowded.

State Bank of India has increase home loan interest rates by 25-75 basis points.

Also no fixed rate loans will be available for periods more than 10 years. These

changes have come into effect from March 1, 2006.

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SBI Railway Visa Card allows booking of railway tickets online at the IndianRailways website at zero transaction charges. Users of this credit card can get

back up to 10% of ticket fare as railway points. These points can be redeemed

later, like frequent flyer miles offered by airlines. State Bank of India is the

largest issuer of debit cards (Maestro) in India

State Bank customers who have to wait a long time to process a bank transaction

can register their complaint through a touch screen device for customer feedback

service at the branch. The information is recorded and processed in the central

server. As of March 2006, it is implemented in 10 branches of SBI in Mumbai.

When SBI employees go on strike, the Reserve Bank of India takes over all

clearing operations. However, banking operations are affected since SBI has

nearly 30% of the total customers of banks in India. Cheques/DD drawn on SBI

was not cleared due to the strike. All government taxes like income tax, sales tax,

service tax can be paid at any branch of SBI.

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

UK, USA, Canada, Bahrain, Nigeria, Bangladesh, Nepal, and Bhutan Sri Lanka.

These are useful for foreign trade transactions like opening of Letter of Credit.

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SWOT ANALYSIS

STRENGTHS WEAKNESSES

O

P

P

O

R

T

U

N

I

T

I

E

S

S O Strategies

Strength: Large Capital base.

Opportunity: Market Expansion.

Strategy: Deep Penetration into

Rural Market.

W O Strategies

Weakness: Workforce

Responsiveness.

Opportunity: Outsourcing of Non

Core Business.

Strategy: Outsource Customer

Care & other E-Helps.

T

H

R

E

A

T

S

S T Strategies

Strength: Low operating costs

Threat: Increased Competition

from others Pvt. Banks.

W T Strategies

Weakness: Not Equal to

International Standards.

Threat: Entry of many Foreign

Banks.

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FINDINGS

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

service.

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

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

4. There is separate counter for NRI services.

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

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

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

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

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

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

11. ICICI and SBI credit deposit ratio is on the side though ICICI banks show a little

decreasing trend to the exten of 2.24 % Over mar2007 _ mar 2008.

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

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

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

SBI shows reduction.

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

16. Operating expences to total income shows a decresing trend in ICICI bank whereas it was

on the rising side in SBI.

17. Interest income to total funds shows rising mode in ICICI whereas In SBI more or less it

remains at the level; The ratio of interest expenses to total funds shows an increase in Value in

ICICI Bank whereas in SBI interest expences shows a Rising mode.

18. The ratio of Non Interest income remains the same for ICICI for The past 2 Years whereas

in SBI at shows a decline.

19. The stock witness some selling pressure in the coming days in ICICI Bank .

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20. The continuation pattern negates immediate bearish momentum on the stock and it's

advisable to buy at declines. Short term investor can initiate a buy above 500 with a target of

560 - 570.

SUGGESTIONS

A. Best play in a buoyant environment - Favorable macro, buoyant Market - related revenues

and a benign environment for asset quality.

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1 ICICI -as a player focused on maintaining and /or improving Market share in key

business segments, particularly retail lending- Will, in our view, benefit immensely form a

positive operating Environment.

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

borrowers in the legacy project financing Activity witnessed their debt servicing ability

increasing considerably. It is believed that the profitability of this segment has improved as a

Result of lower loan loss provisions and lower taxable rates of Income from this source.

Expectations is on the procyclical benefit ,To continue and hence profitability of legacy lending

to be sustained At levels seen earlier.

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

and have boosted its preprovision RoAA. Buoyant environment to sustain the contribution from

market -related revenues is expected and hence the operating profitability.

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

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

strong market position and robust Demand for consumer financing vests significant pricing

power With ICICIB is believed either by allowing a hike in lending rats, Negotiating higher

subvention form manufacturers of cutting Distribution costs.

6. Strong pricing power and a balance sheet that is significantly Biased towards retail lending

buffers ICICB's profitability from Potential shocks in the bank's funding cost.

7. ICICB has an adverse mismatch profile between assets and Liabilities. High volatility in

interest rates could adversely effect Profitability in the short term; however, as the back book

gets Reprised at new lending rates upon maturity, the bank's NIM will Likely show

improvement. This phenomenon to play out through FY1002E and FY2009E is expected.

8. In line with consensus, but we recommend buy ICICIB for growth Reasons and not for the

relative valuation appeal. It is not so much about ICICIB versus HSFC or HDFCB, but about

Their respective operating metrics and growth conditions. Market Has rewarded both strategies:

ICICIB's broad-based strategy allows capturing value across the Value chain in a customer

segment; and ICICIB, like other large players in the private sector, enjoys Favorable conditions

arising from a restrictive regulatory/policy Environment towards new entrants and foreign banks

and slow Pace of reforms for state-owned banks is believed.

B. Increasing contribution from strategic investments - Yet another driver

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

to rise to 20% of ICICIB's target Price over the next 12 months is expected with banking and life

Insurance being the key drivers.

2. The life insurance business of ICICIB has been incurring losses On an accounting basis due

to continued investment in expznding The scale and scope of the business. The life insurance

business is Believed in creating wealth for its shareholders through market Share gains,

increasing penetration of life insurance and improving operating efficiency.

3.S The asset management and venture capital fund of ICICB makes A negligible contribution

currently; however, these businesses is Believed to hold significant upside potential as they

achieve scale Economies.

CONCLUSION

Thus, ICICI has been able to use technology to provide value-added service to its customers

during the last few years. For ICICI, technology is an integral part of their business. However,

their overall progress could have been smoother but for certain internal and extraneous factors

and also a pressure on spreads due to a competitive market (Annual report, 2000 01). E-

banking has become a necessary survival weapon and is fundamentally changing the banking

industry worldwide. To day, the click of the mouse offers customers banking services at a much

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lower cost and also empowers them with unprecedented freedom in choosing vendors for their

financial service needs. No country today has a choice- whether to implement E-banking or not

given the global and competitive nature of the economy. ICICI have toupgrade and constantly

think of new innovative customized packages and services to remain competitive. The invasion

of banking by technology has created an information age and commoditization of banking

services. ICICI have come to realize that survival in the new e-economy depends on delivering

some or all of their banking services on the Internet while continuing to support their traditional

infrastructure. The rise of E-banking is redefining business relationships and the most successful

banks will be those that can truly strengthen their relationship with their customers. Without any

doubt, the international scope of E-banking provides new growth perspecti