Submitted to H.P university, Shimla
In the partial fulfillment of
Award of the degree of
Bachelor of business administration
Submitted by: Under the Guidance of:
GAURAV NARANG MR. ANKUR MAHAJAN
University Roll no. 4329 Govt. college, Dharmshala.
Dept. of business administration
Govt. post graduate college, Dharmshala(H.P)
TO WHOM IT MAY CONCERN
This is to certify that the Project Report entitled “FINANCIAL ANALYSIS OF ICICI
Bank” has been completed by: GAURAV NARANG” under my supervision. To the best
of my knowledge, this is his own work and he has not submitted the same elsewhere for
the award of any other degree or diploma.
I approve it for submission in the partial fulfillment of the requirement for the degree of
Bachelor of Business Administration.
Place Lecturer B.B.A,
Gaurav Narang 2
No task is single man’s effort .Any job in this world however trivial or tough cannot be
accomplished without the assistance of others. An assignment puts the knowledge and
experience of an individual to litmus test. There is always a sense of gratitude that one
likes to express towards the persons who helped to change an effort in a success. The
opportunity to express my indebtness to people who have helped me to accomplish this
I deem it a proud privilege to extend my greatest sense of gratitude to my Project Guide
MR. ANKUR MAHAJAN (lecturer B.B.A) for the keen interest, inspiring guidance,
continuous encouragement, valuable suggestions and constructive criticism throughout
the pursuance of this report.
I am thankful to Coordinator sir DR. UTTAM CHAND for giving me the opportunity to
undertake the study. I am highly indebted to MR. DINESH JAMWAL (PROF.
REGIONAL CENTRE,H.P.U,SHIMLA) for sparing time from their busy schedule for
providing me with their able guidance at the time of need and helping me to achieve the
ultimate goal of the study. I would also like to thank MR. RAJ (Branch Manager,
ICICI Bank, Dharmshala) for their valuable support in helping me to gain this
opportunity of being associated with an organization of such esteem.
Last but not the least, it would be unfair if I don’t express my indebtness to my parents
and all my friends for their active cooperation which was of great help during the course
of my training project.
Gaurav Narang 3
In any organization, the two important financial statements are the Balance Sheet and
Profit & Loss Account of the business. Balance Sheet is a statement of financial position
of an enterprise at a particular point of time. Profit & Loss account shows the net profit or
net loss of a company for a specified period of time. When these statements of the last
few year of any organization are studied and analyzed, significant conclusions may be
arrived regarding the changes in the financial position, the important policies followed
and trends in profit and loss etc. Analysis and interpretation of financial statement has
now become an important technique of credit appraisal. The investors, financial experts,
management executives and the bankers all analyze these statements. Though the basic
technique of appraisal remains the same in all the cases but the approach and the
emphasis in the analysis vary. A banker interprets the financial statement so as to
evaluate the financial soundness and stability, the liquidity position and the profitability
or the earning capacity of borrowing concern. Analysis of financial statements is
necessary because it helps in depicting the financial position on the basis of past and
current records. Analysis of financial statements helps in making the future decisions and
strategies. Therefore it is very necessary for every organization whether it is a financial or
manufacturing, to make financial statement and to analyze it.
Gaurav Narang 4
Table of content
Chapter PARTICULARS Page no.
1. Introduction Of Banking 6-18
a. Introduction of banking…………………. 7
b. History of banking in India……………… 8
c. Banks in India…………………………… 11
d. Fact files of banks in India……………… 17
e. Indian banking industry…………………. 18
2. Company’s Profile 19-55
a. Introduction to ICICI Bank………… 21
b. ICICI Bank today…………………… 27
c. Business profile……………………... 28
d. Board of directors…………………… 29
e. Board committee……………………. 30
f. Business objective…………………… 31
g. Technology used in ICICI Bank…….. 32
h. Products and services………………... 34
i. Awards and recognition……………… 54
3. Research Methodology 56-62
a. Objective of study…………………… 58
b. Importance of study…………………. 58
c. Meaning of research………………… 59
d. Research problem…………………… 59
e. Research design……………………... 60
f. Data collection method……………… 61
g. Analysis and interpretation of data….. 62
h. Limitation of study………………….. 62
4. Financial Analysis 63-92
a. Introduction of the topic………………. 64
b. Method/Tools of financial analysis……. 67
c. Balance sheet of ICICI Bank….. 73
d. Profit and Loss Account of ICICI
e. Financial statement analysis…………… 76
1) Comparative financial
5. Findings ,Suggestions And 93-98
Gaurav Narang 5
INTRODUCTION OF BANKING
Definition Of Bank:
Banking Means "Accepting Deposits for the purpose of lending or Investment of deposits
of money from the public, repayable on demand or otherwise and withdraw by cheque,
draft or otherwise."
-Banking Companies (Regulation) Act,1949
ORIGIN OF THE WORD “ :
The origin of the word bank is shrouded in mystery. According to one view point the
Italian business house carrying on crude from of banking were called banchi bancheri"
According to another viewpoint banking is derived from German word "Branck" which
mean heap or mound. In England, the issue of paper money by the government was
referred to as a raising a bank.
ORIGIN OF BANKING :
Its origin in the simplest form can be traced to the origin of authentic history. After
recognizing the benefit of money as a medium of exchange, the importance of banking
was developed as it provides the safer place to store the money. This safe place ultimately
evolved in to financial institutions that accepts deposits and make loans i.e., modern
Banking system 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
Gaurav Narang 7
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
HISTORY OF BANKING IN INDIA
Banking in India has its origin as early or Vedic period. It is believed that the transitions
from many lending to banking must have occurred even before Manu, the great Hindu
furriest, who has devoted a section of his work to deposit and advances and laid down
rules relating to the rate of interest. During the mogul period, the indigenous banker
played a very important role in lending money and financing foreign trade and commerce.
During the days of the East India Company it was the turn of agency house to carry on
the banking business. The General Bank of India was the first joint stock bank to be
established in the year 1786. The other which followed was the Bank of Hindustan and
Bengal Bank. The Bank of Hindustan is reported to have continued till 1906. While other
two failed in the meantime. In the first half of the 19th century the East India Company
established there banks, The bank of Bengal in 1809, the Bank of Bombay in 1840 and
the Bank of Bombay in1843. These three banks also known as the Presidency banks were
the independent units and functioned well. These three banks were amalgamated in 1920
and new bank, the Imperial Bank of India was established on 27th January, 1921.
With the passing of the State Bank of India Act in 1955 the undertaking of the Imperial
Bank of India was taken over by the newly constituted SBI. The Reserve Bank of India
(RBI) which is the Central bank was established in April, 1935 by passing Reserve bank
of India act 1935. The Central office of RBI is in Mumbai and it controls all the other
banks in the country.
In the wake of Swadeshi Movement, number of banks with the Indian management were
established in the country namely, Punjab National Bank Ltd., Bank of India Ltd., Bank
of Baroda Ltd., Canara Bank. Ltd. on 19th July 1969, 14 major banks of the country were
nationalized and on 15th April 1980, 6 more commercial private sector banks were taken
over by the government.
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 areas mentioned below:
Early phase from 1786 to 1969 of Indian Banks
Nationalization of Indian Banks and up to 1991 prior to Indian banking sector
Gaurav Narang 8
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
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
These three banks were amalgamated in 1920 and Imperial Bank of India was established
which started as private shareholders banks, mostly Europeans shareholders.
In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab
National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and
1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank,
and Bank of Mysore were set up. Reserve Bank of India came in 1935.
During the first phase the growth was very slow and banks also experienced periodic
failures between 1913 and 1948. There were approximately 1100 banks, mostly small. To
streamline the functioning and activities of commercial banks, the Government of India
came up with The Banking Companies Act, 1949 which was later changed to Banking
Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of
India was vested with extensive powers for the supervision of banking in India as the
Central Banking Authority.
During those day’s public has lesser confidence in the banks. As an aftermath deposit
mobilization was slow. Abreast of it the savings bank facility provided by the Postal
department was comparatively safer. Moreover, funds were largely given to traders.
Government took major steps in this Indian Banking Sector Reform after independence.
In1955, 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.
Gaurav Narang 9
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
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
The following are the steps taken by the Government of India to Regulate
BankingInstitutions 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.
This phase has introduced many more products and facilities in the banking sector in its
reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was
set up by his name which worked for the liberalization of banking practices.
The country is flooded with foreign banks and their ATM stations. Efforts are being put
to give a satisfactory service to customers. Phone banking and net banking is introduced.
The entire system became more convenient and swift. Time is given more importance
The financial system of India has shown a great deal of resilience. It is sheltered from any
crisis triggered by any external macroeconomics shock as other East Asian Countries
suffered. This is all due to a flexible exchange rate regime, the foreign reserves are high,
the capital account is not yet fully convertible, and banks and their customers have
limited foreign exchange exposure.
Gaurav Narang 10
BANKS IN INDIA
In India the banks are being segregated in different groups. Each group has their own
benefits and limitations in operating in India. Each has their own dedicated target market.
Few of them only work in rural sector while others in both rural as well as urban. Many
even are only catering in cities. Some are of Indian origin and some are foreign players.
All these details and many more is discussed over here. The banks and its relation with
the customers, their mode of operation, the names of banks under different groups and
other such useful information’s are talked about.
One more section has been taken note of is the upcoming foreign banks in India. The RBI
has shown certain interest to involve more of foreign banks than the existing one recently.
This step has paved a way for few more foreign banks to start business in India.
BANKING STRUCTURE IN INDIA
SCHEDULED BANKS IN INDIA
(1) Scheduled Commercial Banks
Public Sector Banks Private Sector Banks Foreign Banks In Regional Rural
(26) (25) (29) (95)
Nationalized Old Private
Other Public New Private
Sector Banks Banks
SBI And Its
(2) Scheduled Cooperative Banks
Scheduled Urban Cooperative Banks Scheduled State Cooperative Banks
Gaurav Narang 11
Public Sector Banks
Public sector banks are those banks which are owned by the Government. The Govt. runs
these Banks. In India 14 banks were nationalized in 1969 & in 1980 another 6 banks were
also nationalized. Therefore in 1980 the number of nationalized bank 20. At present there
are total 26 Public Sector Banks in India (As on 26-09-2009). Of these 19 are nationalised
banks, 6(STATE BANK OF INDORE ALSO MERGED RECENTLY) belong to SBI &
associates group and 1 bank (IDBI Bank) is classified as other public sector bank.
Welfare is their primary objective.
Nationalised banks Other SBI & its Associates
• Allahabad Bank
Sector • State Bank of India
• Andhra Bank
• Bank Of Baroda Banks
• State Bank of Hyderabad
• Bank Of India
• Bank Of Maharastra IDBI • State Bank of Mysore
• Canara Bank (Industrial
• Central Bank Of India Development • State Bank of Patiala
• Corporation Bank Bank Of
• Dena Bank India)Ltd. • State Bank of Travancore
• Indian Bank
• Indian Overseas Bank • State Bank of Bikaner And
• Oriental Bank Of Jaipur
• Punjab & Sind Bank
• Punjab National Bank
• Syndicate Bank (State Bank of Saurastra merged with SBI in the
year 2008 and State Bank of Indore In 2010)
• UCO Bank
• Union Bank Of India
• United Bank Of India
• Vijaya Bank
Gaurav Narang 12
Private Sector Banks
These banks are owned and run by the private sector. Various banks in the country such as ICICI
Bank, HDFC Bank etc. An individual has control over there banks in preparation to the share of
the banks held by him.
Private banking in India was practiced since the beginning of banking system in India. The first
private bank in India to be set up in Private Sector Banks in India was IndusInd Bank. It is one of
the fastest growing Bank Private Sector Banks in India. IDBI ranks the tenth largest development
bank in the world as Private Banks in India and has promoted world class institutions in India.
The first Private Bank in India to receive an in principle approval from the Reserve Bank of India
was Housing Development Finance Corporation Limited, to set up a bank in the private sector
banks in India as part of the RBI's liberalization of the Indian Banking Industry. It was
incorporated in August 1994 as HDFC Bank Limited with registered office in Mumbai and
commenced operations as Scheduled Commercial Bank in January 1995. ING Vysya, yet another
Private Bank of India was incorporated in the year 1930
Private sector banks have been subdivided into following 2 categories:-
Gaurav Narang 13
Old Private Sector Banks New Private Sector Banks
• Bank of Rajasthan Ltd.
• Catholic Syrian Bank Ltd. • Bank of Punjab Ltd. (since merged
• City Union Bank Ltd. with Centurian Bank)
• Dhanalakshmi Bank Ltd. • Centurian Bank of Punjab (since
• Federal Bank Ltd. merged with HDFC Bank)
• ING Vysya Bank Ltd. • Development Credit Bank Ltd.
• Jammu and Kashmir Bank Ltd. • HDFC Bank Ltd.
• Karnataka Bank Ltd. • ICICI Bank Ltd.
• Karur Vysya Bank Ltd. • IndusInd Bank Ltd.
• Lakshmi Vilas Bank Ltd. • Kotak Mahindra Bank Ltd.
• Nainital Bank Ltd. • Axis Bank (earlier UTI Bank)
• Ratnakar Bank Ltd. • Yes Bank Ltd.
• SBI Commercial and International
• South Indian Bank Ltd.
• Tamilnad Mercantile Bank Ltd.
• United Western Bank Ltd.
Foreign Banks In India
Gaurav Narang 14
ABN AMRO Bank N.V. HSBC (Hongkong &
Abu Dhabi Commercial Shanghai Banking
Bank Ltd Corporation)
American Express Bank JPMorgan Chase Bank
Antwerp Diamond Bank Krung Thai Bank
Arab Bangladesh Bank Mashreq Bank
Bank International Mizuho Corporate Bank
Indonesia Oman International Bank
Bank of America Shinhan Bank
Bank of Bahrain & Kuwait Société Générale
Bank of Ceylon Sonali Bank
Bank of Nova Scotia Standard Chartered Bank
Bank of Tokyo Mitsubishi State Bank of Mauritius
Cooperative banks in India
Gaurav Narang 15
The Cooperative bank is an important constituent of the Indian Financial System, judging
by the role assigned to co operative, the expectations the co operative is supposed to
fulfil, their number, and the number of offices the cooperative bank operate. Though the
co operative movement originated in the West, but the importance of such banks have
assumed in India is rarely paralleled anywhere else in the world. The cooperative banks
in India plays an important role even today in rural financing. The businessess of
cooperative bank in the urban areas also has increased phenomenally in recent years due
to the sharp increase in the number of primary co-operative banks.
Co operative Banks in India are registered under the Co-operative Societies Act. The
cooperative bank is also regulated by the RBI. They are governed by the Banking
Regulations Act 1949 and Banking Laws (Co-operative Societies) Act, 1965.
Rural banks in India
Rural banking in India started since the establishment of banking sector in India. Rural
Banks in those days mainly focussed upon the agro sector. Regional rural banks in India
penetrated every corner of the country and extended a helping hand in the growth process
of the country.
SBI has 30 Regional Rural Banks in India known as RRBs. The rural banks of SBI is
spread in 13 states extending from Kashmir to Karnataka and Himachal Pradesh to North
East. The total number of SBIs Regional Rural Banks in India branches is 2349 (16%).
Till date in rural banking in India, there are 14,475 rural banks in the country of which
2126 (91%) are located in remote rural areas.
Apart from SBI, there are other few banks which functions for the development of the
rural areas in India. Few of them are as follows.
Haryana State Cooperative Apex Bank Limited
The Haryana State Cooperative Apex Bank Ltd. commonly called as HARCOBANK
plays a vital role in rural banking in the economy of Haryana State and has been
providing aids and financing farmers, rural artisans, agricultural labourers, entrepreneurs,
etc. in the state and giving service to its depositors.
National Bank for Agriculture and Rural Development (NABARD) is a development
Gaurav Narang 16
bank in the sector of Regional Rural Banks in India. It provides and regulates credit and
gives service for the promotion and development of rural sectors mainly agriculture,
small scale industries, cottage and village industries, handicrafts. It also finance rural
crafts and other allied rural economic activities to promote integrated rural development.
It helps in securing rural prosperity and its connected matters.
Sindhanur Urban Souharda Co-operative Bank
Sindhanur Urban Souharda Co-operative Bank, popularly known as SUCO BANK is the
first of its kind in rural banks of India. The impressive story of its inception is interesting
and inspiring for all the youth of this country.
United Bank of India
United Bank of India (UBI) also plays an important role in regional rural banks. It has
expanded its branch network in a big way to actively participate in the developmental of
the rural and semi-urban areas in conformity with the objectives of nationalisation.
Syndicate Bank was firmly rooted in rural India as rural banking and have a clear vision
of future India by understanding the grassroot realities. Its progress has been abreast of
the phase of progressive banking in India especially in rural banks.
Fact Files of Banks in India
The first Bank in India to be given an ISO certification. Canara Bank
Gaurav Narang 17
The first Bank in Northern India to get ISO 9002 certification Punjab and Sind
for their selected branches. Bank
The first Indian Bank to have been started solely with Indian capital. Punjab National
The first among the Private Sector Banks in Kerala to become Scheduled South Indian Bank
Bank in 1946 under the RBI act.
India’s oldest,largest and the most successful commercial bank offering the State Bank of India
widest possible rang of domestic,international and NRI products and
services,through its vast network in India and overseas.
India’s second largest Private Sector Bank and is now the largest scheduled The Federal Bank
commercial bank in India. Limited
Bank which started as Private Shareholders Banks,mostly European Imperial Bank of
The first Indian Bank to open a branch outside India in London in 1946 and Bank of India,
the first to open a branch in continental Europe at Paris in 1974 founded in 1906 in
The oldest Public Sector Bank in India having branches all over India and Allahabad Bank
serving the customers for the last 132 years.
The first Indian Commercial Bank which was wholly owned and managed by Central Bank of
INDIAN BANKING INDUSTRY
Gaurav Narang 18
The Indian banking market is growing at an astonishing rate, with Assets expected to
reach US$1 trillion by 2010. An expanding economy, middleclass, and technological
innovations are all contributing to this growth.
The country’s middle class accounts for over 320 million People. In correlation with the
growth of the economy, rising income levels, increased standard of living, and
affordability of banking products are promising factors for continued expansion.
The Indian banking Industry is in the middle of an IT revolution, Focusing on the
expansion of retail and rural banking. Players are becoming increasingly customer
-centric in their approach, which has resulted in innovative methods of offering new
banking products and services. Banks are now realizing the importance of being a big
playerand are beginning to focus their attention on mergers and acquisitions to take
advantage of economies of scale and/or comply with Basel II regulation.“Indian banking
industry assets are expected to reach US$1 trillion by 2010 and are poised to receive a
greater infusion of foreign capital,” says Prathima Rajan, analyst in Celent's banking
group and author of the report. “The banking industry should focus on having a small
number of large players that can compete globally rather than having a large number of
Gaurav Narang 19
BSE & NSE:ICICI,
Capital Markets and allied
Founded 1955 (as Industrial Credit and
Investment Corporation of India)
Headquarters ICICI Bank Ltd.,
ICICI Bank Towers,
Chanda Kochhar, Managing
Director & CEO
Key people Sandeep Bakhshi, Deputy Managing
N.S. Kannan, Executive Director &
K. Ramkumar, Executive Director
Sonjoy Chatterjee, Executive
Products Loans, Credit Cards, Savings,
Investment vehicles, Insurance etc.
Revenue ▲ USD 15.06 billion
Total assets ▲ USD 120.61 billion (at March
Gaurav Narang 31, 2009.) 20
INTRODUCTION TO ICICI BANK
History Of ICICI
1955: The Industrial Credit and Investment Corporation of India
Limited (ICICI) was incorporated at the initiative of World Bank,
the Government of India and representatives of Indian industry,
with the objective of creating a development financial institution
for providing medium-term and long-term project financing to
Indian businesses. Mr.A.Ramaswami Mudaliar elected as the first
Chairman of ICICI Limited. ICICI emerges as the major source of
foreign currency loans to Indian industry. Besides funding from the
World Bank and other multi-lateral agencies, ICICI was also
among the first Indian companies to raise funds from international
1956 : ICICI declared its first dividend of 3.5%.
1958 : Mr.G.L.Mehta appointed the second Chairman of ICICI
1960 : ICICI building at 163, Backbay Reclamation, inaugurated.
1961 : The first West German loan of DM 5 million from
1967 : ICICI made its first debenture issue for Rs.6 crore, which
1969 : The first two regional offices in Calcutta and Madras set up.
1972 : The second entity in India to set up merchant banking
services. : Mr. H. T. Parekh appointed the third Chairman of ICICI.
1977 : ICICI sponsored the formation of Housing Development
Finance Corporation. Managed its first equity public issue.
1978 : Mr. James Raj appointed the fourth Chairman of ICICI.
1979 : Mr.Siddharth Mehta appointed the fifth Chairman of ICICI.
1982 : 1982 : ICICI became the first ever Indian borrower to raise
European Currency Units. : ICICI commences leasing business.
1984 : Mr. S. Nadkarni appointed the sixth Chairman of ICICI.
1985 : Mr. N.Vaghul appointed the seventh Chairman and
Managing Director of ICICI.
1986 : ICICI became the first Indian institution to receive ADB
Loans. : ICICI, along with UTI, set up Credit Rating Information
Gaurav Narang 21
Services of India Limited, India's first professional credit rating
agency. : ICICI promotes Shipping Credit and Investment
Company of India Limited. : The Corporation made a public issue
of Swiss Franc 75 million in Switzerland, the first public issue by
any Indian entity in the Swiss Capital Market.
1987 : ICICI signed a loan agreement for Sterling Pound 10
million with Commonwealth Development Corporation (CDC), the
first loan by CDC for financing projects in India.
1988 : Promoted TDICI - India's first venture capital company.
1993 : ICICI Securities and Finance Company Limited in joint
venture with J. P. Morgan set up. : ICICI Asset Management
Company set up.
1994: ICICI established Banking Corporation as a banking
subsidiary.formerly Industrial Credit and Investment Corporation
of India. Later, ICICI Banking Corporation was renamed as 'ICICI
Bank Limited'. ICICI founded a separate legal entity, ICICI Bank,
to undertake normal banking operations - taking deposits, credit
cards, car loans etc.
1996 : ICICI Ltd became the first company in the Indian financial
sector to raise GDR. : SCICI merged with ICICI Ltd. : Mr.
K.V.Kamath appointed the Managing Director and CEO of ICICI
1997 : ICICI Ltd was the first intermediary to move away from
single prime rate to three-tier prime rates structure and introduced
yield-curve based pricing. : The name The Industrial Credit and
Investment Corporation of India Ltd changed to ICICI Ltd. : ICICI
Ltd announced the takeover of ITC Classic Finance.
1998 : Introduced the new logo symbolizing a common corporate
identity for the ICICI Group. : ICICI announced takeover of
1999 : ICICI launched retail finance - car loans, house loans and
loans for consumer durables. : ICICI becomes the first Indian
Company to list on the NYSE through an issue of American
2000 : ICICI Bank became the first commercial bank from India to
list its stock on NYSE.
2001: ICICI acquired Bank of Madura (est. 1943). Bank of Madura
was a Chettiar bank, and had acquired Chettinad Mercantile Bank
(est. 1933) and Illanji Bank (established 1904) in the 1960s. In
October 2001, the Boards of Directors of ICICI and ICICI Bank
Gaurav Narang 22
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.
2002 : 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.
At the same time, ICICI started its international expansion by
opening representative offices in New York and London. In India,
ICICI Bank bought the Shimla and Darjeeling branches that
Standard Chartered Bank had inherited when it acquired Grindlays
2003 : The first Integrated Currency Management Centre launched
in Pune. ; ICICI Bank announced the setting up of its first ever
offshore branch in Singapore. ; The first offshore banking unit
(OBU) at Seepz Special Economic Zone, Mumbai, launched. ;
ICICI Bank’s representative office inaugurated in Dubai. ;
Representative office set up in China. : ICICI Bank’s UK
subsidiary launched. ; India’s first ever "Visa Mini Credit Card", a
43% smaller credit card in dimensions launched. ; ICICI Bank
subsidiary set up in Canada. ; Temasek Holdings acquired 5.2%
stake in ICICI Bank. ; ICICI Bank became the market leader in
retail credit in India. In the UK it established an alliance with
Lloyds TSB. It also opened an Offshore Banking Unit (OBU) in
Singapore and representative offices in Dubai and Shanghai.
2004 : Max Money, a home loan product that offers the dual
benefit of higher eligibility and affordability to a customer,
introduced. : Mobile banking service in India launched in
association with Reliance Infocomm. : India’s first multi-branded
credit card with HPCL and Airtel launched. : Kisan Loan Card and
innovative, low-cost ATMs in rural India launched. : ICICI Bank
and CNBC TV 18 announced India’s first ever awards recognizing
the achievements of SMEs, a pioneering initiative to encourage the
contribution of Small and Medium Enterprises to the growth of
Indian economy. : ICICI Bank opened its 500th branch in India. :
ICICI Bank introduced partnership model wherein ICICI Bank
would forge an alliance with existing micro finance institutions
(MFIs). The MFI would undertake the promotional role of
Gaurav Narang 23
identifying, training and promoting the micro-finance clients and
ICICI Bank would finance the clients directly on the
recommendation of the MFI. : ICICI Bank introduced 8-8 Banking
wherein all the branches of the Bank would remain open from
8a.m. to 8 p.m. from Monday to Saturday. : ICICI Bank introduced
the concept of floating rate for home loans in India. At the same
time, ICICI opened a representative office in Bangladesh to tap the
extensive trade between that country, India and South Africa.
2005 : First rural branch and ATM launched in Uttar Pradesh at
Delpandarwa, Hardoi. ; "Free for Life" credit cards launched
wherein annual fees of all ICICI Bank Credit Cards were waived
off. ; ICICI Bank and Visa jointly launched mChq – a
revolutionary credit card on the mobile phone. ; Private Banking
Masters 2005, a nationwide Golf tournament for high networth
clients of the private banking division launched. This event is the
largest domestic invitation amateur golf event conducted in India. ;
First Indian company to make a simultaneous equity offering of
$1.8 billion in India, the United States and Japan. ; ICICI acquired
Investitsionno-Kreditny Bank (IKB), a Russia bank with about
US$4mn in assets, head office in Balabanovo in the Kaluga region,
and with a branch in Moscow. ICICI renamed the bank ICICI Bank
Eurasia. Also, ICICI established a branch in Dubai International
Financial Centre and in Hong Kong.ICICI Bank became the largest
bank in India in terms of its market capitalization. ; ICICI Bank
became the first private entity in India to offer a discount to retail
investors for its follow-up offer.
2006 : ICICI Bank became the first Indian bank to issue hybrid
Tier-1 perpetual debt in the international markets. : ICICI Bank
subsidiary set up in Russia. ; Introduced a new product - ‘NRI
smart save Deposits’ – a unique fixed deposit scheme for
nonresident Indians. : Representative offices opened in Thailand,
Indonesia and Malaysia. ; ICICI Bank UK opened a branch in
Antwerp, in Belgium ; ICICI Bank became the largest retail player
in the market to introduce a biometric enabled smart card that
allow banking transactions to be conducted on the field. A low-cost
solution, this became an effective delivery option for ICICI Bank’s
micro finance institution partners. ; Financial counseling centre
Disha launched. Disha provides free credit counseling, financial
planning and debt management services. ; Bhoomi puja conducted
for a regional hub in Hyderabad, Andhra Pradesh.
Gaurav Narang 24
2007 : ICICI Bank‘s USD 2 billion 3-tranche international bond
offering was the largest bond offering by an Indian bank. ; ICICI
amalgamated Sangli Bank, which was headquartered in Sangli, in
Maharashtra State, and which had 158 branches in Maharashtra
and another 31 in Karnataka State. Sangli Bank had been founded
in 1916 and was particularly strong in rural areas. With respect to
the international sphere, ICICI also received permission from the
government of Qatar to open a branch in Doha. Also, ICICI Bank
Eurasia opened a second branch, this time in St. Petersburg. ;
ICICI Bank raised Rs 20,000 crore (approx $5 billion) from both
domestic and international markets through a follow-on public
offer. ; ICICI Bank’s GBP 350 million international bond offering
marked the inaugural deal in the sterling market from an Indian
issuer and also the largest deal in the sterling market from Asia. ;
Launched India’s first ever jewellery card in association with
jewelry major Gitanjali Group. ; ICICI Bank became the first bank
in India to launch a premium credit card -- The Visa Signature
Credit Card. ; Foundation stone laid for a regional hub in
Gandhinagar, Gujarat. ; Introduced SME Toolkit, an online
resource centre, to help small and medium enterprises start, finance
and grow their business. ; ICICI Bank signed a multi-tranche dual
currency US$ 1.5 billion syndication loan agreement in Singapore.
; ICICI Bank became the first private bank in India to offer both
floating and fixed rate on car loans, commercial vehicles loans,
construction equipment loans and professional equipment loans. ;
In a first of its kind, nation wide initiative to attract bright graduate
students to pursue a career in banking, ICICI Bank launched the
"Probationary Officer Programme". ;Launched Bank@home
services for all savings and current a/c customers residing in India ;
ICICI Bank Eurasia LLC inaugurated its first branch at St
Gaurav Narang 25
2008 : ICICI Bank enters US The US Federal Reserve permitted
ICICI to convert its representative office in New York into a
branch.; ICICI Bank enters Germany, opens its first branch in
Frankfurt ; ICICI Bank launched iMobile, a breakthrough
innovation in banking where practically all internet banking
transactions can now be simply done on mobile phones. ; ICICI
Bank concluded India's largest ever securitization transaction of a
pool of retail loan assets aggregating to Rs. 48.96 billion
(equivalent of USD 1.21 billion) in a multi-tranche issue backed by
four different asset categories. It is also the largest deal in Asia (ex-
Japan) in 2008 till date and the second largest deal in Asia (ex-
Japan & Australia) since the beginning of 2007. ; ICICI Bank
launches ICICIACTIVE - Banking Interactive Service - along with
DISHTV, which will allow viewers to see information about the
Bank's products and services and contact details on their DISHTV
screens. ; ICICI Bank and British Airways launch co-branded
credit card, which is designed to earn accelerated reward points to
the card holders with every British Airways flight or by spending
on everyday purchases.
2009: ICICI Bank Board appoints Mr K. V. Kamath as non-
executive Chairman and Ms Chanda Kochhar as Managing
Director & CEO effective May 1, 2009, while the existing non-
executive Chairman Mr N Vaghul retires after completing his term
on April 30, 2009 ; ICICI bank ties up with BSNL Cell One for
bill payments, it will facilitate bill payment for BSNL Cell One
users through www.icicibank.com across all the 27 circles of
BSNL. ; ICICI Bank Limited acting through its Hong Kong
Branch (ICICI Bank) signed an agreement on Export Credit Line
totaling up to US$100 million with the Japan Bank for
International Cooperation (JBIC) which constitutes the
international wing of Japan Finance Corporation. ; ICICI Bank
Limited acting through its Hong Kong Branch (ICICI Bank) signed
a loan agreement with the Export-Import Bank of China (China
Exim) for USD 98 million under the Two- step Buyer Credit
(Export Credit) arrangement. ICICI Bank is the first Indian Bank to
have entered into this arrangement with China Exim ; ICICI Bank
with Singapore Airlines launched “ICICI Bank Singapore Airlines
Visa Platinum Credit Card”, the Card has exclusive privileges
especially designed for the members. ; ICICI Bank announced an
association with mChek, India’s leading mobile payment solutions
provider, to facilitate mChek services to all ICICI Bank Debit and
Credit Card customers. These are electronic cards issued to the
customers with mChek application on their mobile phone. ; Ms
Gaurav Narang 26
Chanda Kochhar took charge as the Managing Director & CEO of
ICICI Bank from May 1, 2009.
ICICI BANK TODAY
ICICI Bank (BSE: ICICI) (formerly Industrial Credit and Investment Corporation of
India) is India's largest private sector bank by market capitalisation and second largest
overall in terms of assets. Trotal assets of Rs. 3,562.28 billion (US$ 77 billion) at
December 31, 2009 and profit after tax Rs. 30.19 billion (US$ 648.8 million) for the nine
months ended December 31, 2009. The Bank also has a network of 1,640+ branches (as
on February 11, 2010) and about 4,721 ATMs in India and presence in 18 countries, as
well as some 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 specialised subsidiaries and affiliates in the
areas of investment banking, life and non-life insurance, venture capital and asset
management. (These data are dynamic.) ICICI Bank is also the largest issuer of credit
cards in India. ICICI Bank has got its equity shares listed on the stock exchanges at
Kolkata and Vadodara, Mumbai and the National Stock Exchange of India Limited, and
its ADRs on the New York Stock Exchange (NYSE). The Bank is expanding in overseas
markets and has the largest international balance sheet among Indian banks. ICICI Bank
now has wholly-owned subsidiaries, branches and representatives offices in 18 countries,
including an offshore unit in Mumbai. This includes wholly owned subsidiaries in
Canada, Russia and the UK (the subsidiary through which the HiSAVE savings brand is
operated), offshore banking units in Bahrain and Singapore, an advisory branch in Dubai,
branches in Belgium, Hong Kong and Sri Lanka, and representative offices in
Bangladesh, China, Malaysia, Indonesia, South Africa, Thailand, the United Arab
Emirates and USA. Overseas, the Bank is targeting the NRI (Non-Resident Indian)
population in particular.
ICICI reported a net profit of Rs. 3,758 crore (US$ 741 million) for FY2009. The bank's
Current and savings account (CASA) ratio increased to 28.7% at March 31, 2009 from
26.1% at March 31, 2008. Increase of Rs. 5,286 crore in CASA deposits in quarter ended
ICICI Bank is one of the Big Four Banks of India with State Bank of India, Axis Bank
and HDFC Bank
ICICI Bank Group
Gaurav Narang 27
Products & Services
• Demat Services
• Wealth Management
• Money Transfer
• Bank Accounts
• Property Solutions
• Corporate Net Banking
• Cash Management
• Trade Services
• SME Services
• Online Taxes
• Custodial Services
9th Floor, South Towers
Bandra Kurla Complex
Phone: 91-022-653 7914
Gaurav Narang 28
The Authorized Capital of ICICI Bank is 214.75 Crores. The Issued, Subscribed and Paid Up
Capital is divided into 1113250642 equity shares @ Rs.10/- each.
Board of Directors
Mr. K. V. Kamath, Chairman
Mr. Sridar Iyengar
Mr. Homi R. Khusrokhan
Mr. Lakshmi N. Mittal
Mr. Narendra Murkumbi
Dr. Anup K. Pujari
Mr. Anupam Puri
Mr. M.S. Ramachandran
Mr. M.K. Sharma
Mr. V. Sridar
Prof. Marti G. Subrahmanyam
Mr. V. Prem Watsa
Ms. Chanda D. Kochhar,
Managing Director & CEO
Mr. Sandeep Bakhshi,
Deputy Managing Director
Mr. N. S. Kannan,
Executive Director & CFO
Mr. K. Ramkumar,
Gaurav Narang 29
Mr. Sonjoy Chatterjee,
Board Governance Remuneration &
Mr. Sridar Iyengar, Chairman Mr. M. K. Sharma, Chairman
Mr. M. K. Sharma, Alternate Chairman Mr. K. V. Kamath
Mr. Narendra Murkumbi Mr. Anupam Puri
Mr. V. Sridar Prof. Marti G. Subrahmanyam
Corporate Social Responsibility Customer Service Committee
Mr. M. K. Sharma, Chairman Mr. K. V. Kamath, Chairman
Dr. Anup K. Pujari Mr. Narendra Murkumbi
Ms. Chanda D. Kochhar Dr. Anup K. Pujari
Mr. M. S. Ramachandran
Mr. M.K. Sharma
Ms. Chanda D. Kochhar
Credit Committee Fraud Monitoring Committee
Mr. K. V. Kamath, Chairman Mr. M. K. Sharma, Chairman
Mr. Narendra Murkumbi Mr. K. V. Kamath
Mr. M. S. Ramachandran Mr. M .K. Mr. Narendra Murkumbi
Sharma Ms. Chanda D. Kochhar
Ms. Chanda D. Kochhar Mr. Sandeep Bakhshi
Risk Committee Share Transfer & Shareholders'/
Investors' Grievance Committee
Mr. K. V. Kamath, Chairman Mr. M. K. Sharma, Chairman
Mr. Sridar Iyengar Mr. Narendra Murkumbi
Dr. Anup K. Pujari Mr. N. S. Kannan
Prof. Marti G. Subrahmanyam
Mr. V. Prem Watsa
Ms. Chanda D. Kochhar
Committee of Executive Directors
Ms. Chanda D. Kochhar, Chairperson
Mr. Sandeep BakhshiMr. N. S. Kannan
Mr. K. Ramkumar
Gaurav Narang 30
Mr. Sonjoy Chatterjee
To be the leading provider of financial services in India and a major global bank.
• 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
• Expand the frontiers of our business globally.
• Play a proactive role in the full realisation of India’s potential.
• Maintain a healthy financial profile and diversify our earnings across businesses
• Maintain high standards of governance and ethics.
• Contribute positively to the various countries and markets in which we operate.
• Create value for our stakeholders.
Gaurav Narang 31
TECHNOLOGY Used In ICICI Bank
ICICI use many type of advance technological software like Pinnacle 7.0 and
Pinnacle7.016.Among from this software ICICI bank uses the e-banking, core banking,
mobile banking electronic display sy ICICI Bank was using Teradata for its data
warehouse. However, due to its proprietary hardware, the cost of procurement, upgrades
and administration was soaring. The closed box architecture of Teradata imposed
restrictions on scalability. Secondly, querying and loading could not happen
simultaneously. Queries could only be run during business hours because the loading of
data had to take place during off business hours. This meant that the refresh rate of EDW
was delayed, so queries may not reflect the most current data. ICICI Bank was also
dependent on Teradata for support and other activities: The bank was completely tied
down to that solution.
These issues compelled ICICI Bank to look for more efficient and flexible solutions. The
solution would have to address not only current issues, but accommodate future growth
expectations and business requirements. ICICI Bank evaluated numerous data
warehousing solutions in the pursuit of solving its issues, and developed a shortlist of
alternatives for its migration proof-of-concept: Sybase, SAS and Netezza. The primary
criteria for evaluation was the price-to-performance ratio where Sybase IQ emerged the
clear winner. During this rigorous testing, Sybase IQ delivered faster results on
independent hardware and operating systems with minimum infrastructure. Commending
the improvements achieved, Amit Sethi, Joint General Manager, ICICI bank says, "What
impressed us wasthat even with overall lower costs, we could achieve significantly better
query performanceafter implementing the Sybase enterprise warehouse solution." ICICI
Infotech today launched an enterprise resourceplanning (ERP) solution for the small and
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
An ERP package helps a manufacturer or any other business implementing it to manage
all the important parts in the company such as product planning, parts purchasing,
maintaining inventory and interacting with suppliers and customers.
ICICI Infotech officials told a press conference here today that Orion Advantage offered
a set of business practice solutions for industry segments such as engineering, auto
Gaurav Narang 32
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
smalland 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
packagefor 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 preconfigured. Besides the high cost of generic ERP packages, their
implementation time as far as SMEs were concerned was also long. Orion Advantage
could be installed in 45 days.
ICICI Infotech had signed up six customers so far for the package and hoped to garner a
15 per cent market share of the SME segment, whose number in the country was
estimated at 2.30 lakh.
Mr. K.S. Natarajan, Managing Director, Trident Pneumatics Pvt Ltd of Coimbatore, one
of the companies that had installed Orion Advantage, said that the company had tried
three other ERP packages, all of which had failed, before settling on Orion Advantage.
Mr Kunkalienkar said that ICICI Infotech planned to move the two development centers
in Chennai into a single location and double the staff strength from 300 now in the next
The Chennai centers were involved in research and development of Orion ERP solutions
and Premia, an insurance package.
We can see that the how technology gives the best results in the below diagram. There are
drastically changes seen in the use of Internet banking, in a year 2001 (2%) and in the
year 2008 (25%).
These type of technology gives the freedom to retail customers.
Centralized Processing Units Derived Economies Of Scale
Electronic Straight through Processing Reduced Transaction Cost
Data Warehousing,CRM Improve Cost Efficiency,Cross Sell
Innovative Technology Application Provide New Or Superior Products
The country’s middle class accounts for over 320 million people. In correlation with
thegrowth of the economy, rising income levels, increased standard of living, and
affordability of banking products are promising factors for continued expansion.
Gaurav Narang 33
PRODUCTS AND SERVICES
Loan Product Deposit Product Investment &
• Auto loan • Savings A/C • Mutual Funds
• Loan against • Current A/C • Bonds
security • Fixed Deposits • Knowledge Centre
• Loan against • Demat A/C • Insurance
property • Safe Deposit • General And Health
• Personal loan Lockers Insurance
• Credit card • Equity And
• 2- wheeler loan Derivatives
• Commercial • Mudra Gold Bar
• Home loans
• Retail business
• Tractor loan
• Working capital
• Equipment finance
• Health care finance
• Education loan
• Gold loan
Cards Payment Services Access To Bank
• Credit Card • Net Safe • Net Banking
• Debit Card • Merchant • One View
• Prepaid Card • Prepaid Refill • InstaAlert Mobile
• Bill Pay Banking
-------------------------------- • Visa Bill Pay • ATM
Forex services • InstaPay • Phone Banking
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-------------------------------- • Direct Pay • Email Statements
• Product And • VisaMoney • Branch Network
• Trade Services • E-Monies Electronic
• Forex Service Funds Transfer
Branch Locater • Online Payment Of
• RBI Guidelines Direct Tax
Corporate Small and Medium Financial Institutions
• Funded Services • Funded Services BANKS
• Non Funded • Non Funded
Services Services • Clearing Sub-Membership
• Value Added • Specialized Services • RTGS Sub-Membership
Services • Value Added • Fund Transfer
• Internet Banking Services • ATM Tie- Ups
• Internet Banking • Corporate Salary A/C
• Tax Collection
Gaurav Narang 35
Accounts & Deposits Remittances
• Rupee Saving A/C • North America
• Rupee Current A/C • Uk
• Rupee Fixed Deposits • Europe
• Foreign Currency Deposits • South East Asia
• Accounts For Returning Indians • Middle East
Check Lock Box
Telegraphic/ Wire Transfer
Fund Transfer Cheques/Dds/Tcs
Investment & Insurances Loans
• Mutual Funds • Home Loans
• Insurance • Loans Against Securities
• Private Banking • Loans Against Deposits
• Portfolio Investment Scheme • Gold Card Credit
Payment Services Access To Bank
• Net Safe • Net Banking
• Bill Pay • One View
• InstaPay • InstaAlert
• DirectPay • ATM
Gaurav Narang 36
• VisaMoney • Phone Banking
• Online Donation • Email Statements
• Branch Networks
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 its
deposit products and provide your details online and their representative will contact you
for Account Opening.
ICICI Bank offers customers a power packed Savings Account with a host
of convenient features and banking channels to transact through. So now
customers can bank at their convenience, without the stress of waiting in
Special Savings Account:
The Special Savings Account has been designed keeping in mind the specific needs of
organizations such as Trusts, Associations, Societies, Councils, Clubs etc. It provides
organizations solutions with added value and is ideal for tax exempted entities.
“LIFE PLUS”Senior citizens savings account
LIFE PLUS,a special savings account for senior citizens
from ICICI Bank is packed with a host of
benefits,designed keeping your unique financial
requirements in mind.
• Special senior citizens desk to cater to all banking
transactions, so that you don’t wait in queues.
Gaurav Narang 37
• Higher interest rate on FD/RD:avail the combined benefits of safety,felexibility and
attractive returns with ICICI Bank Fixed Deposit and Recurring Deposit.
• Free special senior citizen LIFE PLUS debit card.
• Money multiplies facility.
• Extended banking hours allows you to visit our branches,as per your convenience.
• Anywhere banking access to various services,ICICI Bank has to offer –
anytime,anywhere and from any place,including branches,ATMs and phone banking.
• Nomination facility available.
• Quarterly average balance(QAB) requirement of Rs.5000.
• Quarterly physical statements are delivered to your doorstep to absolutely free of
• Passbook on request.
Young Stars Account:
Young Stars is a banking service for children, aged 1day -18
years, brought to you by ICICI Bank to help the parents meet
the present and future aspirations that they hold for their
child. It offers various savings and investment options to the
parent along with teaching the child to manage his/her
personal finance in a more responsible and independent
manner.Young Stars will guide your child through the world of banking -through checking the
account balance, fun zones and special pages on the internet. It makes banking a pleasure and of
course teaches your child to manage their personal finances.With the pocket money that you
transfer to your child's account, you can even shop with him / her at Young Stars very own
shopping page. You can even open a recurring deposit in your child's name.
Once you are done with your 'banking', you can access your child's account with all the fun links
to special zones designed to suit your child's area of interests and also impart knowledge on the
current events of the world.
Advantage woman savings account
The ICICI Bank Advantage Woman Account enables today’s
independent women to enjoy hassle-free banking services.
Besides the core ICICI Bank advantage, the Advantage Woman
Savings Account is packed with special benefits for our women
customers. Enjoy your present and plan for the future with ICICI
Bank’s Advantage Woman Savings Account.Advantage Woman
offers a specially designed woman's debit card which helps you shop and save simultaneously,
manages your household expenditures and comes with a bag full of offers attached to it.
• Special International Woman’s Debit Card with lots of offers.
• Free unlimited access to any bank’s ATM.
• Bill Pay facility & Multi Channel Access.
• Payable-at-par cheque book.
Gaurav Narang 38
• Nomination facility available.
• Zero balance facility with an RD of Rs.2000 or Quarterly Average Balance (QAB)
requirement of Rs. 10,000.
Every business requires efficient banking facilities to support its business activities. ICICI Bank
offers premium quality service, unfolding a wide array of class products. With technology
leadership and service the bank is able to meet some of the most challenging financial needs of
clients.A Current Account is one that is required by Businessman, Joint stock companies,
Institutions, Public authorities, public corporations etc. Any business that has
numerous banking tranactions need a current account as it
•Allows running account supporting unlimited withdrawals and deposits.
• Is meant for convenience and not to save money.
Roaming Current Account
Only Roaming Current Account from ICICI Bank travels the distance with customers
business. With advanced technological features such as MCC and LCC, banking needs are
well taken care of, customers can access their accounts at over 500 networked branches
across the country.
So while customers take care of their business, ICICI Bank’s Roaming Current Account
simplifies banking for them.
Salary Account is a feature rich corporate payroll account with benefits for both corporates and its
•The process of drawing cheques for salaries is replaced by
sending a single ASCII file to the bank and the amount is directly
credited into the employees salary account
•Cuts down payroll processing workload
•Salary Account can be opened with minimum 10 employees
•Instant credit of salaries
ICICI Bank Salary Account is a benefit-rich payroll account for Employers and Employees.As an
organization, you can opt for our Salary Accounts to enable easy disbursements of salaries and
enjoy numerous other benefits too.With ICICI Bank Salary Accounts your employees will enjoy
the convenience of :
• Having the largest network of ATMs at their command,
• Free 24 hour Phone Banking,
• Free Internet Banking.
Gaurav Narang 39
All that the organization would require to do is to send ICICI Bank an advice (in form of a
cheque/debit instruction, ecs, etc) for the total salary amount along with the salary details of the
designated employees in a soft and hard copy format and we will credit the respective employees'
accounts as per your statement of advice.ICICI Bank Salary Accounts benefits you in more than
• Reduces paperwork.
• Saves remittance costs.
Employees receive instant credit of salaries. More convenient than ECS. Besides all of the above,
employees automatically become ICICI Bank account holders with special benefits and privileges
of 8-8 banking, Investment advisory and much more...
Fixed deposits are options which help you grow your money
thus creating wealth in a safer and secure way.
ICICI provides its customers with various kinds of Fixed
deposit facilities that are flexible and cater to customers who
have different needs and wants in their fixed deposits.
ICICI provides a Fixed Deposit that allows customers to
deposit their money for just as long as you wish.
• Wide range of tenures – 15 days to 10 years.
• Choice of investment plan – traditional and cumulative deposits.
• Partial withdrawal allowed.
• Loan facility available – you can avail loan up to 90% of principal and accrued interest.
• Auto renewal facility – you can choose this option so that the deposit can be renewed on
• Interest compounded quarterly.
• Additional interest rate of 0.5% for senior citizens.
ICICI Bank Recurring Deposits are an ideal way to invest
small amounts of money every month and end up with a large
kitty on maturity.High recurring billing and recurring
payments can be a drain on your finances and hence large
investments may seem a plan away.
Recurring deposits aims to encourage savings without putting
any stress on customers finances by making them to put a
lump sum amount in fixed deposit in one go.The recurring deposit also attracts high rate of return
Gaurav Narang 40
that are identical to the fixed deposit rates and most importantly no TDS is applicable in it .the
minimum balance of deposit is of Rs.500 and thereafter in multiples of Rs.100 the minimum
period is 6 months and thereafter in multiples of 3 months,nomination facility is also available.
A few Corporates stipulate to their new employees to provide
Security Deposit to reduce attrition. ICICI Bank’s proposal for
the employee is to keep the Security Deposit in the form of a
Fixed Deposit (FD) with the Bank. The employee cannot
withdraw such FDs without the consent of the company and
the company has the right to withdraw the FD in the event of
employee leaving the organization before a certain stipulated
ICICI Bank Tax-Saver Fixed Deposit
ICICI Bank’s Tax-Saver Fixed Deposit enables you to save tax and earn high returns. A dual
benefit option structured to maximise your advantage. ICICI Bank’s Tax Saver FD is the perfect
solution for your investment needs.
Indian exports have surged over the last decade owing to an unprecedented boom in sectors like
software, biotechnology, gems, jewellery, textiles etc. As a result of this, the volume of inward
remittances has also increased significantly. To shield the firms engaged in regular export and
import from the exchange rate fluctuations RBI has allowed parking of foreign currency by
exporters in an account designated as Exchange Earners Foreign Currency Account (EEFC).
EEFC accounts are Current Accounts held in foreign currency with authorized dealers of foreign
exchange in the country.
Resident Foreign Currency (Domestic) Account
Do you want to save money while buying foreign currency for travelling abroad? You can buy
traveller’s cheques, foreign currency in cash and foreign currency demand draft for your expenses
overseas. If you are a frequent traveller, you may not want to go through the hassles of buying
foreign currency every time you travel abroad.
The Reserve Bank of India has now made it easier for you to access foreign currency by
permitting a foreign currency account (domestic) for resident Indians. In line with RBI guidelines,
ICICI Bank has come up with a scheme that helps you get rid of all your forex worries. You can
park your foreign currency in ICICI Bank under RFC (D) account. Non-interest bearing Resident
Foreign Currency (D) (RFC (D)) with ICICI Bank can be maintained in four major currencies
(USD, EURO, GBP and Japanese Yen)
Gaurav Narang 41
Privilege banking service ensures preferential treatment to its customers.
Silver privilege A/c
• Waiver of multi-city cheque book usage up to Rs. 1,00,000 per month.
• Waiver of DD/PO charges for upto Rs.50,000 per day.
• Preferential rates of gold coins,deposits lockesr &foreign exchange.
• Quarterly average balance requirement of Rs.25000.
Gold privilege A/c
• Priority processing at all ICICI Bank branches and customer care.
• Free usage of payable -at-par chequebook.
• Free international gold debit card with higher daily withdrawal and spend limit.
• Waiver of DD/PO charges for up to Rs.100,000 per day.
• Free anywhere banking facility.
• Prefrential rates for gold coins,deposit lockers and foreign exchange.
• Quarterly Average Balance(QAB) requirement of Rs.50000.
Titanium privilege A/c
• Branch relationship manager supported with phone banking relationship
• Priority processing at ICICI Bank brancghes and customer care.
• Free international titanium debit card with higher daily withdrawal and spend
• Free anywhere banking facility.
• Free usage of multy-city cheque book.
• Free physical monthly account statement.
• Complete waiver on DD/PO charges.
• Preferential rates for gol coins,deposit lockers and foreign exchange.
• Quarterly average balance (QAB)requirement of Rs.75000 and Total
Relationship Value(TRV)of Rs. 5,00,000.
Superior product benefits of privilige banking,wealth management and
global private client(GPC) available to all the members of your family
while the required minimum balance can be maintained in any of the
• Access to superior benefits for the entire family.
• Flexibility to maintain balances across account.
• Lower minimum balance requirement at individual customer level.
Gaurav Narang 42
• Single family bank – convenience for the entire family and easier funds management.
Send money to your loved ones abroad
ICICI Bank offers you a simple way to send money outside India. Our Outward Remittance
facilities make remitting money abroad quick, and reliable. ICICI Bank’s Outward Remittance is
the solution for your all your needs. Be it money for education, gift money or maintenance for
loved ones or donation for a cause. Our extensive network gives us reach to most parts of the
Advantage Deposit is a combination of fixed deposit and mutual fund investment, offering you
the safety of a fixed deposit and the returns of an equity fund. Advantage Deposit counters equity-
market fluctuations through Systematic Investment Plans.
• Combination of a Fixed Deposit (with monthly interest payout) and Systematic
Investment Plan (SIP) of a Mutual Fund.
• Re-investment of monthly interest payout of Fixed Deposit into systematic investment
plan of Mutual Fund.
• Automatic debits to account through Standing Instruction / ECS debit mandate.
New Pension System of Government of India
ICICI Bank with 49 branches is a Point of Presence (POP) for the NEW PENSION SYSTEM
launched on May 1, 2009 by the Government of India. The scheme, promoted by the PFRDA
(Pension Fund Regulatory and Development Authority, Government of India), is a first of its kind
in India and is being launched pan-India by 22 other POP's as well.
The purpose of this pension scheme is to promote security of income to its subscribers in their old
age. The scheme will empower a subscriber to plan his own retirement and pension. It not only
will help him save for life after retirement but also is a good investment tool as the returns are
market-driven. For optimum returns, the Government has appointed six fund managers for
subscribers to choose from.
Interest rates on home loans have come down considerably in the last
few years. Individuals who opted for housing loans in the years gone
by, are still servicing them at 17% to 21% per annum. Quite a price
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to pay, since one can get a loan today for around 12% per annum. In such a case, you can opt for
a balance transfer. Under this scheme, customers can replace their existing old high interest loan
by a cheaper (equal to applicable current rates) loan. ICICI Home Finance will not only finance
the balance amount of outstanding loan but also your prepayment charges to the old housing
• A lower EMI with the same tenure .
• A reduced tenure with the same EMI.
• A reduced tenure and EMI .
• The same EMI and tenure but an additional amount as a loan.
ICICI Bank Personal Loans are easy to get and absolutely hassle free.
minimum documentation you can now secure a loan for an amount
up to Rs.
•Loans for salaried & self employed individuals.
•Loans are available from Rs. 20,000 to Rs. 15 Lakhs.
•Repayment tenures from 12 - 60 months.
•No Security,Collateral or Guarantors required.
•Loans can be used for any purpose with no questions asked regarding the end use of the
•A balance transfer facility available for those who want to retire any higher debt.
•All loan repayments are done via equated monthly instalments (EMI).
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.
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COMMERCIAL VEHICLE LOAN
• Reaches you through more than 700 locations
across the country.
• Range of products under one umbrella.
• Funding of various products like HCVs, Buses,
MCVs, LCVs, 3 wheelers & used vehicle.
• 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, Xtend
product, working capital loans & other banking products..
• Preferred financier status with most of the leading manufacturers.
• Simple documentation.
• Quick turn around time.
• Flexible financing solutions to meet the individual requirement.
TWO WHEELER LOANS:
"Zoom" away in your favourite two wheeler. ICICI provides attractive
schemes at competitive interest rates.
• Finance facility available for all two wheelers ranging from
mopeds to motor bikes.
• Now avail Finance upto 90%* of the On Road Cost of the
vehicle, repayable in convenient tenure options ranging from 6
months to 36 months*.
• Ride Easy Pay Easy with ICICI Bank Two Wheeler Loans.
• In an unlikely case of your not meeting our norms NO PROBLEM - you can still avail
our loan, any blood relative can be your co-applicant.
• Existing ICICI Bank Customers ride away on your favourite Two Wheeler by availing
Loan On Phone*-- a facility to get an instant loan over the phone!! Apply for loan online,
call or through sms.
FARM EQUIPMENT LOANS:
• ICICI is the preferred financier for almost all leading
tractor manufacturers in the country.
• ICICI finances farm equipments in over 381 locations
spread across the country.
• Provides fast processing of files with easy documentation.
• Flexible repayment options in tandem with the farmer's
• Monthly, Quarterly and Half-yearly repayment patterns to
choose from. Comfortable repayment tenures from 1 year to 6 years.
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CONSTRUCTION EQUIPMENT LOAN
Having funded infrastructure for over 4 decades, ICICI
understands the need of the customers better. ICICI Bank offers
attractive financial packages through their excellent distribution
network. The products are customised for new entrepreneur to
large business houses. ICICI has tie-up with leading construction
equipment manufacturers for wide range of products. The Bank
take over existing high cost loans at competitive terms resulting in huge savings and is quick
in processing due to easy formalities and one time sanction of loans for disbursement over a
period of time.
OFFICE EQUIPMENT LOAN:
► Minimum documentation required . ► Doorstep Service. ►Competitive Interest rates.
►Flexible repayment structure. ►Hassle-free application process with the click of a mouse.
►Details on your application status online.
MEDICAL EQUIPMENT LOAN:
Professional doctors are aware of the distinct advantages that the latest medical equipment
can give their patients. ICICI Bank Medical Equipment Loans supports professionals in their
effort to give the best to their patients. It's our humble way of being involved in a noble
Loans are offered for:
• Purchase of New equipments.
• Takeover of Existing loans.
Our Key features are:
• Doorstep Service.
• Funding in more than 150 locations across the country.
• The bank provides Competitive interest rates.
• ICICI also offers flexible repayment structure.
LOAN AGAINST SECURITIES
Loans against Securities enables customers to obtain loans against their securities. So they get
instant liquidity without having to sell their securities.
All customers have to do is pledge your securities in favour of ICICI Bank The Bank will then
grant them an overdraft facility upto a value determined on the basis of the securities pledged by
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them. A current account will be opened and customer can withdraw money as and when they
require. Interest will be charged only on the amount withdrawn and for the time span utilised.
ICICI offer loans against:
• Demat Shares
• RBI Relief Bonds
• Mutual Funds Units
• India Millennium Deposits (IMDs)
• ICICI Bank Bonds
• Life Insurance Policies (Single Premium)
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 timefree cards, Insurance benefits, global emergency
assistance service,discounts, utility payments, travel discounts and
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
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.
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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.
ICICI Bank cares about all
needs. Along with Deposit
products and Loan
offerings, ICICI Bank
assists people to manage
their finances by providing various investment options ranging from ICICI Bank Tax Saving
Bonds to Equity Investments through Initial Public Offers and Investment in Pure Gold.
ICICI Bank facilitates following investment products:
• 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
Customers can invest in above products through any of ICICI bank branches. For select products
ICICI Bank also provides the ease of investing through electronic channels like ATMs and
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.
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