2. Acknowledgements
If words are considered to be signs of gratitude then let these words Convey the very same
My sincere gratitude to ICICI BANK for providing me with an opportunity to work with
BANK and giving necessary directions on doing this project to the best of my abilities.
I am highly indebted to Mr.Remay Verma, Branch Manager 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 …………, Dr. AJAY SRIVASTAV(HOD), who has sincerely supported me
with the valuable insights into the completion of this project.
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SESSION 2011-12
3. CONTENTS
Sr. No. Subject Covered Page No.
1 Acknowledgements 2
2 Executive Summary 4
3 My Project Objective 7
4 Banking Structure in India 8
5 Introduction 9
6 10
History of Banking in India
7 17
Bank In India
8 19
Fact Files of Banks in India
9 Indian Banking Industries 26
10 ICICI Bank 28
11 ICICI Group 33
12 Technology used in ICICI Bank 39
13 Product and Customer segments 41
11 Product 44
14 SWOT Analysis 55
15 Research Methodology 57
Company Efforts To Ensure Customer Satisfaction
16 59
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SESSION 2011-12
5. EXECUTIVE SUMMARY
Private banking is a concept which is new and fast emerging in the world of banking where
changes have become a necessity in order for banks to survive in this competitive
environment vis-à-vis not only from the public and private sector banks but also from the
foreign banks. The objective of the research is to explore the various products, which a
private banker deals into and the systematic process involved to match client requirements
with the right kind of product.
Through this research one of the main objectives is to explore the reason why most of the
banks are injecting private banking as business profile to their set of service offerings.
Though private banking evolved in late 80‘s in Asia, in India its not more than 5 years old.
ICICI started it in Aug 2002 and since then it has been a remarkable success. Today there are
enormous solutions to cater client needs but what suits best to a client is where private
banking fits in. Every client will have different needs, liking and preferences. So a customized
portfolio for every client is the need of the day.
This research will highlight more on the product portfolio of ICICI Private Banking, how they
have changed or innovatively structured to be attractive and competitive.
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SESSION 2011-12
6. 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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SESSION 2011-12
7. BANKING STRUCTURE IN INDIA
Scheduled Banks in India
(A) Scheduled Commercial Banks
Public sector Banks Private sector Foreign Banks in Regional Rural Bank
Banks India
(28) (27) (29) (102)
Nationalized Old Private
Bank Banks
Other Public New Private
Sector Banks Banks
(IDBI)
SBI and its
Associates
(B) Scheduled Cooperative Banks
Scheduled Urban Cooperative Scheduled State Cooperative
Banks (55) 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.
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SESSION 2011-12
8. 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.
INTRODUCTION
The banking section will navigate through all the aspects of the Banking System in India. It
will discuss upon the matters with the birth of the banking concept in the country to new
players adding their names in the industry in coming few years.
The banker of all banks, Reserve Bank of India (RBI), the Indian Banks Association (IBA)
and top 20 banks like IDBI, HSBC, ICICI, ABN AMRO, etc. has been well defined under
three separate heads with one page dedicated to each bank.
However, in the introduction part of the entire banking cosmos, the past has been well
explained under three different heads namely:
History of Banking in India
Nationalization of Banks in India
Scheduled Commercial Banks in India
The first deals with the history part since the dawn of banking system in India. Government
took major step in the 1969 to put the banking sector into systems and it nationalized 14
private banks in the mentioned year. This has been elaborated in Nationalization Banks in
India. The last but not the least explains about the scheduled and unscheduled banks in India.
Section 42 (6) (a) of RBI Act 1934 lays down the condition of scheduled commercial banks.
The descriptions along with a list of scheduled commercial banks are given on this page.
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SESSION 2011-12
9. 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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SESSION 2011-12
10. 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 day‘s public has lesser confidence in the banks. As an aftermath deposit
mobilization was slow. Abreast of it the savings bank facility provided by the Postal
department was comparatively safer. Moreover, funds were largely given to traders.
Phase II
Government took major steps in this Indian Banking Sector Reform after independence. In
1955, it nationalized Imperial Bank of India with extensive banking facilities on a large scale
especially in rural and semi-urban areas. It formed State Bank of India to act as the principal
agent of RBI and to handle banking transactions of the Union and State Governments all over
the country.
Seven banks forming subsidiary of State Bank of India was nationalized in 1960 on 19th July,
1969, major process of nationalization was carried out. It was the effort of the then Prime
10
SESSION 2011-12
11. Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country was
nationalized.
Second phase of nationalization Indian Banking Sector Reform was carried out in 1980 with
seven more banks. This step brought 80% of the banking segment in India under Government
ownership.
The following are the steps taken by the Government of India to Regulate Banking
Institutions in the Country:
1949: Enactment of Banking Regulation Act.
1955: Nationalization of State Bank of India.
1959: Nationalization of SBI subsidiaries.
1961: Insurance cover extended to deposits.
1969: Nationalization of 14 major banks.
1971: Creation of credit guarantee corporation.
1975: Creation of regional rural banks.
1980: Nationalization of seven banks with deposits over 200 crore.
After the nationalization of banks, the branches of the public sector bank India rose to
approximately 800% in deposits and advances took a huge jump by 11,000%.
Banking in the sunshine of Government ownership gave the public implicit faith and immense
confidence about the sustainability of these institutions.
Phase III
This phase has introduced many more products and facilities in the banking sector in its
reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set up
by his name which worked for the liberalization of banking practices.
The country is flooded with foreign banks and their ATM stations. Efforts are being put to
give a satisfactory service to customers. Phone banking and net banking is introduced. The
entire system became more convenient and swift. Time is given more importance than money.
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SESSION 2011-12
12. 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.
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.
12
SESSION 2011-12
13. Major Banks in India
ABN-AMRO Bank Indian Overseas Bank
Abu Dhabi Commercial Bank IndusInd Bank
American Express Bank ING Vysya Bank
Andhra Bank Jammu & Kashmir Bank
Allahabad Bank JPMorgan Chase Bank
Bank of Baroda Karnataka Bank
Bank of India Karur Vysya Bank
Bank of Maharastra Laxmi Vilas Bank
Bank of Punjab Oriental Bank of Commerce
Bank of Rajasthan Punjab National Bank
Bank of Ceylon Punjab & Sind Bank
BNP Paribas Bank Scotia Bank
Canara Bank South Indian Bank
Catholic Syrian Bank Standard Chartered Bank
Central Bank of India State Bank of India (SBI)
Centurion Bank State Bank of Bikaner & Jaipur
China Trust Commercial Bank State Bank of Hyderabad
Citi Bank State Bank of Indore
City Union Bank State Bank of Mysore
Corporation Bank State Bank of Saurastra
Dena Bank State Bank of Travancore
Deutsche Bank Syndicate Bank
Development Credit Bank Taib Bank
Dhanalakshmi Bank UCO Bank
Federal Bank Union Bank of India
HDFC Bank United Bank of India
HSBC ICICI Bank United Bank Of India
IDBI Bank United Western Bank
Indian Bank UTI Bank
13
SESSION 2011-12
14. Fact Files of Banks in India
The first, the oldest, the largest, the biggest, get all such types of information‘s about Banking
in India in this section.
The first bank in India to be given an ISO Certification Canara Bank
The first bank in Northern India to get ISO 9002 certification for Punjab and Sind
their selected branches Bank
The first Indian bank to have been started solely with Indian Punjab National
capital Bank
The first among the private sector banks in Kerala to become a
South Indian Bank
scheduled bank in 1946 under the RBI Act
India's oldest, largest and most successful commercial bank,
offering the widest possible range of domestic, international and
State Bank of India
NRI products and services, through its vast network in India and
overseas
India's second largest private sector bank and is now the largest The Federal Bank
scheduled commercial bank in India Limited
Bank which started as private shareholders banks, mostly Imperial Bank of
Europeans shareholders India
The first Indian bank to open a branch outside India in London in Bank of India,
1946 and the first to open a branch in continental Europe at Paris founded in 1906 in
in 1974 Mumbai
The oldest Public Sector Bank in India having branches all over Allahabad Bank
14
SESSION 2011-12
15. India and serving the customers for the last 132 years
The first Indian commercial bank which was wholly owned and Central Bank of
managed by Indians India
Bank of India was founded in 1906 in Mumbai. It became the first Indian bank to open a
branch outside India in London in 1946 and the first to open a branch in continental Europe at
Paris in 1974.
15
SESSION 2011-12
16. PUBLIC SECTOR BANKS
Among the Public Sector Banks in India, United Bank of India is one of the 14 major
banks, which were nationalized on July 19, 1969. Its predecessor, in the Public Sector Banks,
the United Bank of India Ltd., was formed in 1950 with the amalgamation of four banks viz.
Camilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Camilla Union
Bank Ltd. (1922) and Hooghly Bank Ltd.(1932).
Oriental Bank of Commerce (OBC), Government of India Undertaking offers Domestic,
NRI and Commercial banking services. OBC is implementing a GRAMEEN PROJECT in
Dehradun District (UP) and Hanumangarh District (Rajasthan) disbursing small loans. This
Public Sector Bank India has implemented 14 point action plan for strengthening of credit
delivery to women and has designated 5 branches as specialized branches for women
entrepreneurs.
The following are the list of Public Sector Banks in India
Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharastra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
16
SESSION 2011-12
17. Punjab & Sind Bank
Punjab National Bank
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank
List of State Bank of India and its subsidiary, a Public Sector Banks
State Bank of India
o State Bank of Bikaner & Jaipur
o State Bank of Hyderabad
o State Bank of Indore
o State Bank of Mysore
o State Bank of Saurastra
o State Bank of Travancore
17
SESSION 2011-12
18. PRIVATE SECTOR BANKS:
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. Bangalore
has a pride of place for having the first branch inception in the year 1934. With successive
years of patronage and constantly setting new standards in banking, ING Vysya Bank has
many credits to its account.
List of Private Banks in India
Bank of Punjab
Bank of Rajasthan
Catholic Syrian Bank
Centurion Bank
City Union Bank
Dhanalakshmi Bank
Development Credit Bank
Federal Bank
HDFC Bank
ICICI Bank
IDBI Bank
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SESSION 2011-12
19. IndusInd Bank
ING Vysya Bank
Jammu & Kashmir Bank
Karnataka Bank
Karur Vysya Bank
Laxmi Vilas Bank
South Indian Bank
United Western Bank
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SESSION 2011-12
20. INDIAN BANKING INDUSTRY
The Indian banking market is growing at an astonishing rate, with Assets expected to reach
US$1 trillion by 2010. An expanding economy, middle class, 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 market is growing at an astonishing rate, with Assets expected to reach
US$1 trillion by 2010. An expanding economy, middle class, and technological
innovations are all contributing to this growth.
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 player
and 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$1 trillion by 2010 and are poised to receive a greater infusion
of foreign capital,‖ says Prathima Rajan, analyst in Celent's banking group and author of the
20
SESSION 2011-12
21. report. ―The banking industry should focus on having a small number of large players that can
compete globally rather than having a large number of fragmented players."
Type Private, BSE & NSE, NYSE
1955 (as Industrial credit and
Founded
Investment corporation of India)
ICICI Bank Ltd.,
ICICI Bank Towers,
Headquarters
Bandra Kurla
Mumbai, India
N Vaghul, K.V. Kamath, Chanda
Key people Kochhar, V Vaidyanathan, Madhabi
Puri
Banking
Industry Insurance
Capital Markets and allied industries
Loans, Credit Cards, Savings,
Products
Investment vehicles, Insurance etc.
Revenue ▲ USD 5.79 billion
Total assets Rs. 3,997.95 billion (US$ 100
billion) at March 31, 2008.
21
SESSION 2011-12
22. OVERVIEW
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.
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.
22
SESSION 2011-12
23. 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.
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.
23
SESSION 2011-12
24. 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 India and representatives of Indian
industry.
The principal objective was to create a development financial institution for Providing
medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI
transformed its business from a development financial institution offering only project finance
to a diversified financial service group offering a wide variety of products and services, both
directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI
become the first Indian company and the first bank or financial institution from non-Japan
Asia to be listed on the NYSE.
24
SESSION 2011-12
25. 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.
25
SESSION 2011-12
26. Customer
ICICI bank targets all segment of customer with various types of products and services. I
interacted with a a lot of customers and collect their feedback on the given services of
company, and feedback are positive response from all point of view. Customers are
beneficiary from both sides monetary as well as non monetary. The bank targets to add nearly
500,000 customers under the new scheme in the next one year and plans to offer auto loans
through the new online channel in the future, ICICI Bank's Executive Director, V
Vaidyanathan, said here.
"As of now, nearly 24 per cent of our customer transactions are happening through internet.
We are primarily targeting our urban customers, who constitute nearly 70 per cent of our total
customer-base," Vaidyanathan said.
Customers, opting for the service can also benefit from the quantum optima facility, wherein
if the balance exceeds Rs 5,000, the money will automatically be transferred to a fixed deposit
scheme, he said. The facility, which also enable customers to transact between an ICICI Bank
account and accounts in other banks, is being offered free of cost, he said ICICI bank,
presently, has above 2 crore customers. The lender opened nearly 470 branches in the last
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 Endeavour‘s to safeguard and ensure the security of the information provided by
the customer. ICICI bank uses 128-bit encryption, for the transmission of the information,
which is currently the permitted level of encryption in India. When the information provided
by the customers is not transmitted through this encryption, the customer's system (if
configured accordingly) will display an appropriate message ensuring the best level of secrecy
for the customer's information.
26
SESSION 2011-12
27. 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 customers to
any person, unless such action is necessary to:
Conform to legal requirements or comply with legal process;
Protect and defend ICICI bank's or its affiliates rights, interests or property;
Enforce the terms and conditions of the products or services; or
Act to protect the interests of ICICI bank, its affiliates, or its members, constituents or
of other persons.
27
SESSION 2011-12
28. 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.There are some other company who also compete with the ICICI bank After the SBI the
HDFC bank is the main competitor of ICICI bank.
HDFC Bank Ltd. is a commercial bank of India, incorporated in August 1994, after the
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
28
SESSION 2011-12
29. 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 has a market share among Indian commercial banks of
about 20% in deposits and advances, and SBI accounts for almost one-fifth of the nation‘s
loans.There are some other banks which gives challenging some how in the banking and
service sectorthey are:
Allahabad Bank
Andhra Bank
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
29
SESSION 2011-12
30. 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 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 it‘s a lifetime experience to
work with such a behemoth organization. It might not be the best paymaster but it definitely
will impress you with its capability as the head master (Principal) of banking industry.there
are huge competition between the eployee to achieve theo goal.
30
SESSION 2011-12
31. BUSINESS OBJECTIVES:
Vision
To be the leading provider of financial services in India and a major global bank.
Mission
We will leverage our people, technology, speed and financial capital to:
be the banker of first choice for our customers by delivering high quality, world-class
service.
expand the frontiers of our business globally.
play a proactive role in the full realisation of India‘s potential.
maintain a healthy financial profile and diversify our earnings across businesses and
geographies.
maintain high standards of governance and ethics.
contribute positively to the various countries and markets in which we operate.
create value for our stakeholders.
Product and Services
Service and banking of ICICI bank categorized in to personal banking, business banking and
NRI banking services.
Personal banking- Deposit in form of saving, recurring, term deposit, senior citizen deposit
and children depository account are there for individual customer can also avail of their
housing, automobile, farm equipment, business or personal loan scheme. Personal client can
also invest in mutual funds and participate in stock trading through ICICI bank.
Business banking – Business banking services of ICICI Bank are exhaustive. Project
financing, deal assessment, and land evaluation are investment banking services offered to
corporate clients. Global trade and cash management transaction services facilitate
remittances and receipts across important cities. Capital market and custodial services enable
business houses to participate in equity trading and transfer across major stock markets of
world.
CUSTOMER
ICICI bank targets all segment of customer with various types of products and services. I
interacted with a a lot of customers and collect their feedback on the given services of
company, and feedback are positive response from all point of view. Customers are
beneficiary from both sides monetary as well as non monetary. The bank targets to add nearly
500,000 customers under the new scheme in the next one year and plans to offer auto loans
through the new online channel in the future, ICICI Bank's Executive Director, V
Vaidyanathan, said here.
"As of now, nearly 24 per cent of our customer transactions are happening through internet.
We are primarily targeting our urban customers, who constitute nearly 70 per cent of our total
customer-base," Vaidyanathan said.
Customers, opting for the service can also benefit from the quantum optima facility, wherein
if the balance exceeds Rs 5,000, the money will automatically be transferred to a fixed deposit
scheme, he said. The facility, which also enable customers to transact between an ICICI Bank
account and accounts in other banks, is being offered free of cost, he said ICICI bank,
presently, has above 2 crore customers. The lender opened nearly 470 branches in the last
fiscal. The lender has also plans to launch 'SMS n Cash' scheme later this week under which
31
SESSION 2011-12
32. 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 Endeavour‘s to safeguard and ensure the security of the information provided by
the customer. ICICI bank uses 128-bit encryption, for the transmission of the information,
which is currently the permitted level of encryption in India. When the information provided
by the customers is not transmitted through this encryption, the customer's system (if
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 customers to
any person, unless such action is necessary to:
Conform to legal requirements or comply with legal process;
Protect and defend ICICI bank's or its affiliates rights, interests or property;
Enforce the terms and conditions of the products or services; or
Act to protect the interests of ICICI bank, its affiliates, or its members, constituents or
of other persons.
COMPETITOR
The main competitor of is ICICI bank is SBI because this bank is totally taken by government
after this bank HDFC bank is the main competitor of ICICI bank .There are different types of
segment operation semment, investment and services, demat and NRI services.The competitor
from the operation segment are State Bank of India(SBI), Axis, Housing Development and
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.There are some other company who also compete with the ICICI bank After the SBI the
HDFC bank is the main competitor of ICICI bank.
HDFC Bank Ltd. is a commercial bank of India, incorporated in August 1994, after the
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.
32
SESSION 2011-12
33. 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 has a market share among Indian commercial banks of
about 20% in deposits and advances, and SBI accounts for almost one-fifth of the nation‘s
loans.There are some other banks which gives challenging some how in the banking and
service sectorthey are:
Allahabad Bank
Andhra Bank
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 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
33
SESSION 2011-12
34. ideas. It will also exhibit its in terms of well laid systems, processes and infrastructure. It will
extend a fast track growth for those with extraordinary talent at the same time offer stability to
those who are able to deliver satisfactorily.Overall, I would say it‘s a lifetime experience to
work with such a behemoth organization. It might not be the best paymaster but it definitely
will impress you with its capability as the head master (Principal) of banking industry.there
are huge 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 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 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 manage all
the important parts in the company such as product planning, parts purchasing, maintaining
inventory and interacting with suppliers and customers.
ICICI Infotech officials told a press conference here today that Orion Advantage offered a set
of business practice solutions for industry segments such as engineering, auto ancillary,
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.
34
SESSION 2011-12
35. 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.
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.
ERP Systems Integration
Pinnacle Software Solutions has the expertise and experience to assist you with your
enterprise systems integration. From developing your strategy, through implementation and
support, we bring the right combination of resources, management skillsets, and technical
know-how. We will help you successfully integrate your Enterprise Resource Planning
(ERP) systems into your overall business and technology infrastructure.
Whether you are planning an upgrade of an existing ERP system, or a complete replacement
of a legacy application and platform, we can help you improve your financial, human
resources, electronic mail, and other business systems. We work with the leading ERP
systems, including the latest versions of the Oracle and PeopleSoft applications:
General Ledger Project Costing
Accounts Payable Human Resources
Accounts Receivable Payroll
Purchasing Benefits
Asset Management Compensation
Our technology management solutions will help you migrate hardware platforms, improve
network and database performance, develop or refresh policies and procedures, and develop
sound disaster recovery and backup solutions. Please contact us to learn how Pinnacle
Software Solutions can help you develop ―solutions that fit” your enterprise.
ICICI Prudential Life Insurance Company Limited
ICICI Prudential life Insurance Company Limited was incorporated on 20th July 2000.The
authorized capital of the company is Rs.2300 million and the paid up capital is Rs.1500
million. The company is joint venture of ICICI (74%) and UK based company Prudential Plc
(26%). The company was granted certificate of registration for carrying business, by
35
SESSION 2011-12
36. Insurance Regulatory and Development Authority on 24th November 2000. It commenced
commercial operation from 19th December 2000 and becoming a leading private sector life
insurance company.
The company recognizes that the driving force for gaining sustainable competitive advantage
in this business is superior customer experience and investment behind the brand. The
company aims to achieve this by striving to provide world class service level trough constant
innovation in product, distribution channels and technology based delivery.
Vision and Mission
Their vision is to make ICICI Prudential Life Insurance Company the dominant new insurer
in the life insurance industry. This they hope to achieve through their commitment to
excellence, focus on service, speed and innovation, and leveraging our technological
expertise.
The success of the organisation will be founded on its strong focus on values and clarity of
purpose. These include:
Understanding the needs of customers and offering them superior products and
service
Building long lasting relationships with their partners
Providing an enabling environment to foster growth and learning for their employees
And above all building transparency in all our dealings.They believe that they can play a
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 their growth.
Board of Directors
The ICICI Prudential Life Insurance Company Limited Board comprises reputed people from
the finance industry both from India and abroad.
Shri K.V. Kamath, Chairman
Mr. Mark Tucker
Smt. Lalita D. Gupte
Mr. Danny Bardin
Mrs. Kalpana Morparia
Shri M.P. Modi
Mr. John Caouette
Shri S.P.Subhedar, (Alternate Director to Mr. Danny Bardin)
Mr. Derek Stott, (Alternate Director to Mr. Mark Tucker)
Smt. Shikha Sharma, Managing Director
Management Team
Ms. Shikha Sharma, Managing Director
Mr. Kevin Wright, Executive Vice President - Sales & Distribution
Ms. Madhavi Soman, Chief - Strategic Initiatives
Mr. V. Rajagopalan, Appointed Actuary
Mr. Sandeep Batra, Chief Financial Officer & Company Secretary
Mr. Saugata Gupta, Chief - Marketing & Service
Mr. Shubhro J. Mitra, Chief - Human Resources
36
SESSION 2011-12
37. 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 between ICICI
Bank Limited and Canada based Fairfax Financial Holdings Limited. ICICI Bank is India's
second largest bank, while Fairfax Financial Holdings is a diversified financial corporate
engaged in general insurance, reinsurance, insurance claims management and Investment
management. Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited,
is one of Canada's oldest property and casualty insurers. ICICI Lombard General Insurance
Company received regulatory approvals to commence general insurance business in August
2000.
Board Members
Mr K V Kamath, Chairman
Mr R Athappan, Director
Mr B V Bhargava, Director
Mr Dileep Choksi, Director
Mr James F Dowd, Director
Ms Lalita D Gupte, Director
Ms Kalpana Morparia, Director
Mr S Mukherji, Director
Mr Chandran Ratnaswami, Director
Mr H N Sinor, Director
Mr Sandeep Bakhshi, Managing Director & CEO
Audit Committee
Mr. S Mukherji, Chairman
Mr. Dileep Choksi, Director
Mr. James F Dowd, Director
Mr. H.N. Sinor, Director
Investment Committee
37
SESSION 2011-12
38. 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 the Indian
health Insurance sector. Be it the floater concept, the critical illness cover or the tax gain
policy, all these were first introduced by ICICI Lombard. It was also one of the first general
insurance companies in India to have a robust online system in place for buying and renewing
policies.
The various plans offered by ICICI Lombard include Family Floater Plan - where one policy
covers the entire family, Health Advantage Plus - where they cover OPD and dental expenses,
also help save maximum tax under section 80D and Critical Illness plan - a special policy
covering a list of critical illnesses. They also have a basic Personal Accident Plan which
covers against accidents. ICICI Lombard health plans also provide coverage against terrorism.
Home Insurance
Home Insurance is actually one of the most neglected areas in the general insurance category.
Simply, because people in general, especially in India, do not give much importance to it.
However, in the recent years, due to the increase in awareness, and the great extent of damage
caused to property due to natural calamities and terrorism, it has been gaining importance.
The Home Insurance Policyoffered by ICICI Lombard covers both the structure and the
contents of the house. You can opt for either of the covers or both. Unlike other policies, it
also covers damage due to terrorist activities, loss of cash, public liability, temporary
resettlement and others.
38
SESSION 2011-12
39. Motor Insurance
As Motor Insurance is mandatory in India and is governed by the Motor Tariff Act, the
policies offered by various companies are more or less the same. There is not much room for
innovation in this category. ICICI Lombard too offers Car Insurance and Two Wheeler
Insurance. They are known to offer one of the best rates in the market. As the entire buying
process is online and is instant, without any submission of documents or other formalities,
people generally opt it for convenience.
Travel Insurance
Travel insurance is one of the most prominent sector of general insurance, especially overseas
travel insurance and student medical insurance. ICICI Lombard offers various options in both
the categories. The Overseas Travel Plans and Student Medical Plans offered cover medical
and non-medical expenses, including compensation for flights hijacked and pre existing
diseases in case of emergency. They charge on a per day basis if the travel is more than 7
days. ICICI Lombard has tied up with United Health Group to facilitate access to all its
clinics while in U.S.
The Student Medical Plans are accepted in almost universities worldwide. They also have a
section in their website, University Search, where one can find specific plans for specific
universities.
All the above retail policies can be bought online, without any documentation through their
website www.icicilombard.com .One can not only buy, but also manage and renew their
insurance policies online.
NRI Services
ICICI Lombard has developed insurance policies for Non-resident Indians that can be bought,
renewed and tracked online.
Parents' Health Insurance covers hospitalization and medical expenses incurred by parents of
the policyholder in India. For parents' travelling outside India, ICICI Lombard offers a
Parents' Overseas Travel Insurance policy.
An NRI can insure his children/ dependents travelling abroad to study, under the Student
Medical Insurance plan. Likewise, the Home Insurance and Car Insurance schemes enables
an NRI to secure his assets in India.
Channels
Channel is the term used for the various approaches a company uses to tap its customers.
ICICI Lombard uses a multi channel approach to ensure the sales, service and other allied
activities are carried out in the most effective manner.
39
SESSION 2011-12
40. Retail
The Retail channel consists of sales executves, sales officers, brokers and agents. They are the
one who are in direct contact with the customers and bring the innovative insurance solutions
to their doorsteps.
Online
ICICI Lombard has developed a web-based system to meet all the pre and post-policy
transaction. One can get quotes, buy, renew and track their policies onlin e through the
website [www.icicilombard.com]. With the do-it-yourself architecture, the online channel is
fast, convenient, easy to understand and operate.
40
SESSION 2011-12
41. 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 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 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 manage all
the important parts in the company such as product planning, parts purchasing, maintaining
inventory and interacting with suppliers and customers.
ICICI Infotech officials told a press conference here today that Orion Advantage offered a set
of business practice solutions for industry segments such as engineering, auto ancillary,
41
SESSION 2011-12
42. 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.
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.
42
SESSION 2011-12
43. ERP Systems Integration
Pinnacle Software Solutions has the expertise and experience to assist you with your
enterprise systems integration. From developing your strategy, through implementation and
support, we bring the right combination of resources, management skillsets, and technical
know-how. We will help you successfully integrate your Enterprise Resource Planning
(ERP) systems into your overall business and technology infrastructure.
Whether you are planning an upgrade of an existing ERP system, or a complete replacement
of a legacy application and platform, we can help you improve your financial, human
resources, electronic mail, and other business systems. We work with the leading ERP
systems, including the latest versions of the Oracle and PeopleSoft applications:
General Ledger Project Costing
Accounts Payable Human Resources
Accounts Receivable Payroll
Purchasing Benefits
Asset Management Compensation
Our technology management solutions will help you migrate hardware platforms, improve
network and database performance, develop or refresh policies and procedures, and develop
sound disaster recovery and backup solutions. Please contact us to learn how Pinnacle
Software Solutions can help you develop ―solutions that fit” your enterprise.
43
SESSION 2011-12
44. ICICI GROUP
ICICI VENTURE
ICICI Venture is the largest and one of the most successful private equity and Venture capital
management companies in India with aggregate funds under Management in excess of USD 2
billion. ICICI Venture is a subsidiary of ICICI Bank, India‘s second-largest bank with total
assets of about US$ 56.3 bn (March 31, 2006) and market capitalization of about USD 10.8
bn (June 2006).
Over the years, ICICI Venture has built an enviable portfolio of companies in the sectors
of information technology, pharmaceuticals, biotechnology, media and retail thereby
delivering value consistently to its investors.
ICICI Venture has the distinction of managing a large number of exits in the Country.
With over 100 liquidity events, the organization has reaped rich Experience and is well
positioned to handle IPOs, strategic sale and/or mergers.
ICICI Venture has a wide network of third party investors, which include Domestic investors
such as public sector banks, financial institutions and Insurance companies. A significant
44
SESSION 2011-12
45. portion of the fund‘s corpus is also from International development financial institutions and
international funds.
The company has over 40 qualified professionals with experience across sectors and
functions. The capabilities of the team, structure of the organization, Emphasis on value
creation and performance evaluation matrices enable ICICI Venture to extract superior returns
from its investments.
ICICI SECURITIES – India’s Leading Investment Bank
ICICI Securities Limited is India‘s leading full service investment bank with a Dominant
position in all segments of its operations - Corporate Finance, Fixed Income and Equities. It is
a subsidiary of ICICI Bank, the largest private sector bank in India and operates out of
Mumbai with offices in New Delhi, Chennai, Kolkata, New York, London and Singapore.
Under the able leadership of Mr.S.Mukherji, Managing Director and CEO, ICICI Securities
continues to grow as reflected in its performance over the past couple of years.
The Corporate Finance team has consistently been among the top players in M&As and
fund raising from domestic and international capital markets. The Equities team is a major
Indian brokerage house and its research covers over 90% of Sensex market capitalization. The
bond research of the Fixed Income team is a benchmark for the industry.
The eminent position of ICICI Securities is reflected in the number of awards that our teams
in the Fixed Income, M&A and Equity Capital Markets win. Our Fixed Income team for the
last two years (CY04 and CY05) has been adjudged as the ―Best Bond House‖ in India by
both Asia money and Finance Asia. The Equities team was adjudged as the ‗Best Indian
Brokerage House-2003‘ by Asia money. The Corporate Finance team tops the M&A/Capital
markets league tables regularly. Our wholly owned subsidiary, ICICI Brokerage Services
Limited (IBSL), buys and sells equities for our institutional clients. ICICI Securities has a
U.S. subsidiary, ICICI Securities Inc., which is a member of the National Association of
Securities Dealers, Inc. (NASD). As a result of this membership, ICICI Securities Inc. can
engage in permitted activities in the U.S. securities markets.
These activities include dealing in securities markets transactions in the United States and
providing research and investment advice to US investors.
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46. ICICI Securities Inc. is also registered with the Financial Services Authority, UK (FSA) and
the Monetary Authority of Singapore (MAS) to carry out Corporate Advisory Services
PRUDENTIAL ICICI
Prudential ICICI Asset Management Company enjoys the strong parentage of Prudential plc,
one of UK's largest players in the insurance & fund management sectors and ICICI Bank, a
well-known and trusted name in financial services in India. Prudential ICICI Asset
Management Company, in a span of just over eight years, has forged a position of pre-
eminence in the Indian Mutual Fund industry as one of the largest asset management
companies in the country with assets under management of Rs. 23559.60 crores (as of March
31, 2006). The Company manages a comprehensive range of schemes to meet the varying
investment needs of its investors spread across 68 cities in the country.
PRUDENTIAL LIFE INSURANCE
India's Number One private life insurer, ICICI Prudential Life Insurance Company is a joint
venture between ICICI Bank-one of India's foremost financial services companies-and
Prudential plc- a leading international financial services group headquartered in the United
Kingdom. Total capital infusion stands at Rs. 15.85 billion, with ICICI Bank holding a stake
of 74% and Prudential plc holding 26%.
We began our operations in December 2000 after receiving approval from Insurance
Regulatory Development Authority (IRDA). Today, our nation-wide team comprises nearly
120,000 insurance advisors, 18 banc assurance partners and 200 corporate agent tie-ups.
ICICI Prudential was the first life insurer in India to receive a National Insurer Financial
Strength rating of AAA (Industry) from Fitch ratings. For three years in a row, ICICI
Prudential has been voted as India's Most Trusted Private Life Insurer, by The Economic
Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'. As we grow our
distribution, product range and customer base, we continue to tirelessly uphold our
commitment to deliver world-class financial solutions to customers all over India.
ICICI Prudential life Insurance Company Limited was incorporated on 20th July 2000.The
authorized capital of the company is Rs.2300 million and the paid up capital is Rs.1500
million. The company is joint venture of ICICI (74%) and UK based company Prudential Plc
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47. (26%). The company was granted certificate of registration for carrying business, by
Insurance Regulatory and Development Authority on 24th November 2000. It commenced
commercial operation from 19th December 2000 and becoming a leading private sector life
insurance company.
The company recognizes that the driving force for gaining sustainable competitive advantage
in this business is superior customer experience and investment behind the brand. The
company aims to achieve this by striving to provide world class service level trough constant
innovation in product, distribution channels and technology based delivery.
Vision and Mission
Their vision is to make ICICI Prudential Life Insurance Company the dominant new insurer
in the life insurance industry. This they hope to achieve through their commitment to
excellence, focus on service, speed and innovation, and leveraging our technological
expertise.
The success of the organisation will be founded on its strong focus on values and clarity of
purpose. These include:
Understanding the needs of customers and offering them superior products and
service
Building long lasting relationships with their partners
Providing an enabling environment to foster growth and learning for their employees
And above all building transparency in all our dealings.They believe that they can play a
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 their growth.
Corporate Office:
ICCI Prulife Towers,
1089, Appasahab Marathe Marg,
Prabhadevi,
Mumbai 400 025.
Telephone Number: 022-462 1600
Website : www.iciciprulife.com
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48. ICICI LOMBARD
ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between ICICI
Bank Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited. ICICI Bank
is India's second largest bank, while Fairfax Financial Holdings is a diversified financial
corporate engaged in general insurance, reinsurance, insurance claims management and
investment management. Lombard Canada Ltd, a group company of Fairfax Financial
Holdings Limited, is one of Canada's oldest property and casualty insurers. ICICI Lombard
General Insurance Company received regulatory approvals to commence general insurance
business in August 2001.
ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between ICICI
Bank Limited and Canada based Fairfax Financial Holdings Limited. ICICI Bank is India's
second largest bank, while Fairfax Financial Holdings is a diversified financial corporate
engaged in general insurance, reinsurance, insurance claims management and Investment
management. Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited,
is one of Canada's oldest property and casualty insurers. ICICI Lombard General Insurance
Company received regulatory approvals to commence general insurance business in August
2000.
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 the Indian
health Insurance sector. Be it the floater concept, the critical illness cover or the tax gain
policy, all these were first introduced by ICICI Lombard. It was also one of the first general
insurance companies in India to have a robust online system in place for buying and renewing
policies.
The various plans offered by ICICI Lombard include Family Floater Plan - where one policy
covers the entire family, Health Advantage Plus - where they cover OPD and dental expenses,
also help save maximum tax under section 80D and Critical Illness plan - a special policy
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49. covering a list of critical illnesses. They also have a basic Personal Accident Plan which
covers against accidents. ICICI Lombard health plans also provide coverage against terrorism.
Home Insurance
Home Insurance is actually one of the most neglected areas in the general insurance category.
Simply, because people in general, especially in India, do not give much importance to it.
However, in the recent years, due to the increase in awareness, and the great extent of damage
caused to property due to natural calamities and terrorism, it has been gaining importance.
The Home Insurance Policyoffered by ICICI Lombard covers both the structure and the
contents of the house. You can opt for either of the covers or both. Unlike other policies, it
also covers damage due to terrorist activities, loss of cash, public liability, temporary
resettlement and others.
Motor Insurance
As Motor Insurance is mandatory in India and is governed by the Motor Tariff Act, the
policies offered by various companies are more or less the same. There is not much room for
innovation in this category. ICICI Lombard too offers Car Insurance and Two Wheeler
Insurance. They are known to offer one of the best rates in the market. As the entire buying
process is online and is instant, without any submission of documents or other formalities,
people generally opt it for convenience.
Travel Insurance
Travel insurance is one of the most prominent sector of general insurance, especially overseas
travel insurance and student medical insurance. ICICI Lombard offers various options in both
the categories. The Overseas Travel Plans and Student Medical Plans offered cover medical
and non-medical expenses, including compensation for flights hijacked and pre existing
diseases in case of emergency. They charge on a per day basis if the travel is more than 7
days. ICICI Lombard has tied up with United Health Group to facilitate access to all its
clinics while in U.S.
The Student Medical Plans are accepted in almost universities worldwide. They also have a
section in their website, University Search, where one can find specific plans for specific
universities.
All the above retail policies can be bought online, without any documentation through their
website www.icicilombard.com .One can not only buy, but also manage and renew their
insurance policies online.
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50. NRI Services
ICICI Lombard has developed insurance policies for Non-resident Indians that can be bought,
renewed and tracked online.
Parents' Health Insurance covers hospitalization and medical expenses incurred by parents of
the policyholder in India. For parents' travelling outside India, ICICI Lombard offers a
Parents' Overseas Travel Insurance policy.
An NRI can insure his children/ dependents travelling abroad to study, under the Student
Medical Insurance plan. Likewise, the Home Insurance and Car Insurance schemes enables
an NRI to secure his assets in India.
Channels
Channel is the term used for the various approaches a company uses to tap its customers.
ICICI Lombard uses a multi channel approach to ensure the sales, service and other allied
activities are carried out in the most effective manner.
Retail
The Retail channel consists of sales executves, sales officers, brokers and agents. They are the
one who are in direct contact with the customers and bring the innovative insurance solutions
to their doorsteps.
Online
ICICI Lombard has developed a web-based system to meet all the pre and post-policy
transaction. One can get quotes, buy, renew and track their policies online 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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51. Technology Used in ICICI Bank
In the era of globalization each and every sector faced the stiff competition from their
rivals. And world also converted into the flat from the globe. After the policy of
liberalization and RBI initiatives to take the step for the private sector banks, more and more
changes are taking the part into it. And there are create competition between the private
sector banks and public sector bank.
Private sector banks are today used the latest technology for the different transaction of
day to day banking life. As we know that Information Technology plays the vital role in
the each and every industries and gives the optimum return from the limited resources.
Banks are service industries and today IT gives the innovative Technology application
to Banking industries. ICICI BANK is the leader in the industries and today IT and ICICI
BANK together combined they reached the sky. New technology changed the mind of the
customers and changed the queue concept from the history banking transaction. Today
there are different channels are available for the banking transactions.
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
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52. 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.
ICICI Bank Product & Customer Segment:
PERSONAL BANKING
Loan Product Deposit Product Investment & Insurance
Auto Loan Saving a/c Mutual Fund
Loan Against Current a/c Bonds
Security Fixed deposit Knowledge Centre
Loan Against Demat a/c Insurance
Property Safe Deposit General and Health
Personal loan Lockers Insurance
Credit card Equity and Derivatives
2-wheeler loan Mudra Gold Bar
Commercial
vehicles finance
Home loans
Retail business
banking
Tractor loan
Working Capital
Finance
Construction
Equipment Finance
Health Care
Finance
Education Loan
Gold Loan
Cards Payment Services Access To Bank
Credit Card NetSafe NetBanking
Debit Card Merchant OneView
Prepaid Card Prepaid Refill InstaAlert
Billpay MobileBanking
Visa Billpay ATM
InstaPay Phone Banking
-------------------------------- DirectPay Email Statements
Forex Services VisaMoney Branch Network
-------------------------------- Transfer
Product & Services e–Monies
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53. Trade Services Electronic Funds
Forex service Transfer
Branch Locater Online Payment of
RBI Guidelines Direct Tax
WHOLESALE BANKING
Corporate Small and Medium Financial Institutions and
Enterprises Trusts
Funded Services Funded Services BANKS
Non Funded Non Funded Services Clearing Sub-Membership
Services Specialized Services RTGS – submembership
Value Added Value added services Fund Transfer
Services Internet Banking ATM Tie-ups
Internet Banking Corporate Salary a/c
Tax Collection
Financial Institutions
Mutual Funds
Stock Brokers
Insurance Companies
Commodities Business
Trusts
NRI SERVICES
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
Africa
Others
Quick remit
IndiaLink
Cheque LockBox
Telegraphic/ Wire Transfer
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54. Funds Transfer Cheques/DDs/TCs
Investment & Insurances Loans
Mutual Funds Home Loans
Insurance Loans Against Securities
Private Banking Loans Against Deposits
Portfolio Investment Scheme Gold Credit Card
Payment Services Access To Bank
NetSafe NetBanking
BillPay OneView
InstaPay InstaAlert
DirectPay ATM
Visa Money PhoneBanking
Online Donation Email Statements
Branch Network
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55. PRODUCT
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 host of
convenient features and banking channels to transact through. So now you
can bank at your convenience, without the stress of waiting in queues
SENIOR CITIZEN 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
Senior Citizen Services from ICICI Bank has several advantages that are tailored to bring
more convenience and enjoyment in your life.
YOUNG STARS
It's really important to help 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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56. 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
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
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