A PROJECT REPORT ON LEVERAGING DIGITAL CHANNELS FOR ENHANCING CUSTOMER EXPERIENCE AND ANALYSIS OF MICROMARKET

Shivalik Institute Of Management Education & Research Page 1
A PROJECT REPORT
ON
“LEVERAGING DIGITAL CHANNELS FOR ENHANCING CUSTOMER EXPERIENCE AND
ANALYSIS OF MICROMARKET”
FOR
UNDER THE GUIDANCE OF
Mr. Prabhat Ranjan
Branch Manager
(TOWARDS PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD
OF
POST GRADUATE DIPLOMA IN MANAGEMENT)
SUBMITTED BY
Vaibhav Kumar Dubey
SHIVALIK INSTITUTE OF MANAGEMENT EDUCATION & RESEARCH
DURG - 491001
2019-2021

CERTIFICATE
This is to certify that
Vaibhav Kumar Dubey
have successfully completed their summer internship
“LEVERAGING DIGITAL CHANNELS FOR ENHANCING CUSTOMER EXPERIENCE AND
ANALYSIS OF MICROMARKET”
from
23/05/2020 to 06/07/2020
in
ICICI BANK
under the guidance of
Mr. Prabhat Ranjan
Branch Manager
ICICI Bank, Bilaspur
The conduct of the student was found to be good during this duration.
Mr. Prabhat Ranjan Manisha Aditya
Branch Manager SIMER, Durg
ICICI Bank

DECLARATION
I, student of “SHIVALIK INSTITUTE OF MANAGEMENT EDUCATION & RESEARCH” hereby
declare that I have successfully completed this project on “MICROMARKET STUDY” in summer
internship. The information incorporated in this project is true and original to the best of my
knowledge.
Date – Vaibhav Kumar Dubey
Place – SIMER, Durg

ACKNOWLEDGEMENT
This report has been prepared for the internship that has been done in the ICICI Bank, in order to
study the practical aspect of the course and implementation of the theory in the real field with the
purpose of fulfilling the requirements of the course of PGDM.
I take the opportunity to express my gratitude to all of them who in some or the other way helped
me to accomplish the challenging project in ICICI Bank. No amount of written expression is
sufficient to show my deepest sense of gratitude to them.
I thank my institute which has given me this opportunity to showcase my skills. I also thank my
nearer and dearer ones without support of whom; this project would not have been possible.
I would like to thank Mr. Sounak Kundu Sir for giving this opportunity to be a part of their esteem
organization and enhance my knowledge by doing summer training. I would also like to thank my
mentor, Mr. Prabhat Ranjan Sir for guiding us throughout the internship and handling all our
doubts and motivating us. Last but not the least I am grateful to all the other interns for their kind
cooperation and help during the course of my project.
Regards
Vaibhav Kumar Dubey

PREFACE
The successful completion of this project was a unique experience for me because by interacting
with various people even in this pandemic situation and knowing about their experiences on ICICI
digital channels, a better knowledge about banking and iMobile app was achieved. The research
also helped me to know what people – whether an ICICI customer or not think about the bank by
getting their feedback on various products and offerings as well as the digital channels.
The research project also gave me an opportunity to understand the micromarket strategy and its
benefits and study my ecosystem while identifying the needs of friends, relatives and others in the
nearby catchment.
The experience which was gained by doing this project was essential at this turning point of my
career. The research provided an opportunity to showcase my skills and knowledge as well while
performing various tasks.

TABLE OF CONTENTS
TOPIC PAGE NO.
Executive Summary 07-08
About Organization 09-33
Banking Sector 34-50
Research Objective 51-77
Feedback Analysis 78-79
Finding Of The Research 80-82
Limitations 83-84
Conclusion 85-86
Recommendations 87-88
References 89-91
.

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY
The study was under taken while doing summer internship in ICICI Bank. The study mainly
analyzes the general view of customers on the available digital offerings of the bank. The project
also focuses in driving education and adoption of ICICI digital banking channel amongst our
respective ecosystem.
As part of the project, we were responsible for identifying the banking needs of our own
ecosystem, i.e. friends, family, or people in the nearby catchment.
While working from home, we need to study and prepare the micromarket map of our area with
details of various customer segments, presence of other private and public banks and business
opportunities available for ICICI bank in our area along with providing recommendation on
business strategy for the bank in our catchment.
The method used for deriving some important conclusions is through:
 Primary Data
 Secondary Data
The primary data was collected through telephonic calls with general public while the secondary
data was collected through internet.

ABOUT ORGANIZATION

ICICI Bank Limited is an Indian multinational banking and financial services company with its
registered office in Vadodara, Gujarat and corporate office in Mumbai, Maharashtra. It offers a
wide range of banking products and financial services for corporate and retail customers through a
variety of delivery channels and specialised subsidiaries in the areas of investment banking, life,
non-life insurance, venture capital and asset management. The bank has a network of 5275
branches and 15589 ATMs across India and has a presence in 17 countries.
ICICI Bank is one of the Big Four banks of India. The bank has subsidiaries in the United Kingdom
and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Qatar, Oman, Dubai
International Finance Centre, China and South Africa; and representative offices in United Arab
Emirates, Bangladesh, Malaysia and Indonesia. The company’s UK subsidiary has also
established branches in Belgium and Germany.
 History:
ICICI Bank was established by the Industrial Credit and Investment Corporation of
India (ICICI), an Indian financial institution, as a wholly-owned subsidiary in 1994 in
Vadodara. The parent company was formed in 1955 as a joint-venture of the World Bank,
India’s public-sector banks and public-sector insurance companies to provide project
financing to Indian industry. The bank was founded as the Industrial Credit and Investment
Corporation of India Bank, before it changed its name to ICICI Bank. The parent company
was later merged with the bank known as Reverse Merger, which does not happen often.
ICICI Bank launched Internet Banking operations in 1998.
ICICI’s shareholding in ICICI Bank was reduced to 46 percent, through a public offering of
shares in India in 1998. ICICI Bank acquired the Bank of Madura Limited in an all-stock
deal in 2001.
In the 1990s, ICICI transformed its business from a development financial institution
offering only project finance to a diversified financial services group, offering a wide variety
of products and services, both directly and through a number of subsidiaries. In 1999, ICICI
became the first Indian company and the first bank or a financial institution from non-Japan
Asia to be listed on the NYSE.

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of
ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial
Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was
approved by the Reserve Bank of India in April 2002.
In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and branches
in some locations due to rumours of an adverse financial position of ICICI bank. The
Reserve Bank of India issued a clarification on the financial strength of ICICI Bank to dispel
the rumours.
In March 2020, the board of ICICI Bank Ltd. approved an investment of Rs. 1000 crore in
Yes Bank Ltd. This investment resulted in ICICI Bank Limited holding in excess of a five
percent shareholding in Yes Bank.
 Acquisitions:
 1996: ICICI Ltd.; A diversified financial institution with headquarters in Mumbai.
 1997: ITC Classic Finance; incorporated in 1986, ITC Classic was a non-bank
financial firm that engaged in hire, purchase and leasing operations. At the time of
being acquired, ITC Classic had eight offices, 26 outlets and 700 brokers.
 1997: SCICI (Shipping Credit and Investment Corporation of India)
 1998: Anagram(ENAGRAM) Finance; Anagram had built up a network of some 50
branches in Gujarat, Rajasthan, and Maharashtra that were primarily engaged in the
retail financing of cars and trucks. It also had some 250,000 depositors.
 2001: Bank of Madura
 2002: The Darjeeling and Shimla branches of Grindlays Bank
 2005: Investitsionno-Kreditny Bank (IKB), a Russian Bank
 2007: Sangli Bank; Sangli Bank was a private sector unlisted bank, founded in 1916,
and 30% owned by the Bahte family. Its headquarters were in Sangli in Maharashtra,
and it had 198 branches. It had 158 in Maharashtra and 31 in Karnataka, and others
in Gujarat, Andhra Pradesh, Tamil Nadu, Goa, and Delhi. Its branches were
relatively evenly split between metropolitan areas and rural or semi-urban areas.
 2010: The Bank of Rajasthan (BOR) was acquired by the ICICI bank for Rs. 30
billion. RBI was critical of BOR’s promoters not reducing their holdings in the
company. BOR has since been merged with ICICI Bank.

 Role in Indian Financial Infrastructure:
ICICI Bank has contributed to the setting up of a number of Indian institutions to establish
financial infrastructure in the country over the years:
 The National Stock Exchange was promoted by India’s leading financial institutions
(including ICICI Ltd.) in 1992 on behalf of the Government of India with the objective
of establishing a nationwide trading facility for equities, debt instruments by ensuring
equal access to investors all over the country through an appropriate communication
network.
 In 1987, ICICI Ltd along with UTI set up CRISIL as India’s first professional credit
rating agency.
 NCDEX (National Commodities and Derivatives Exchange) was set up in 2003, by
ICICI Bank Ltd, LIC, NABARD, NSE, Canara Bank, CRISIL, Goldman Sachs, Indian
Farmers Fertiliser Cooperative Limited (IFFCO) and Punjab National Bank.
 ICICI Bank facilitated the setting up of “FINO Cross Link to Case Link Study” in 2006,
as a company that would provide technology solutions and services to reach the
undeserved and under banked population of the country. Using technologies like
smart cards, biometrics and a basket of support services, FINO enables financial
institutions to conceptualise, develop and operationalise projects to support sector
initiatives in microfinance and livelihoods.
 Entrepreneurship Development Institute of India (EDII) was set up in 1983, by the
erstwhile apex financial institutions like IDBI, ICICI, IFCI and SBI with the support of
the Government of Gujarat as a national resource organisation committed to
entrepreneurship development, education, training and research.
 Eastern Development Finance Corporation was promoted by national level financial
institutions like ICICI Ltd in 1995 at Guwahati, Assam for the development of
industries, infrastructure, animal husbandry, agri-horticulture plantation, medicinal
plants, sericulture, aquaculture, poultry and dairy in the North Eastern states of India.
 Following the enactment of the Securitisation Act in 2002, ICICI Bank, together with
other institutions, set up Asset Reconstruction Company India Limited (ARCIL) in
2003. ARCIL was established to acquire non-performing assets (NPAs) from
financial institutions and banks with a view to enhance the management of these
assets and help in the maximisation of recovery.
 ICICI Bank has helped in setting up Credit Information Bureau of India Limited
(CIBIL), India’s first national credit bureau in 2000. CIBIL provides a repository of
information (which contains the credit history of commercial and consumer
borrowers) to its members in the form of credit information reports.

 Firstsource, an Indian BPO firm, since divested
 3i InfoTech, an Indian IT/ITES firm, since divested
 Key People:
 Board Of Directors:
NAME DESIGNATION
Mr. Girish Chandra Chaturvedi Chairman
Mr. Sandeep Bakhshi MD & CEO
Mr. Anup Bagchi Executive Director
Ms. Vishakha Mulye Executive Director
Mr. Sandeep Batra Executive Director
Mr. Lalit Kumar Chandel Government Nominee Director
Ms. Neelam Dhawan Independent Director
Mr. Hari L Mundra Independent Director
Mr. S Madhavan Independent Director
Ms. Rama Bijapurkar Independent Director
Mr. B Sriram Independent Director
Mr. Uday Chitale Independent Director
Mr. Radhakrishnan Nair Independent Director
 Key Executives:
NAME DESIGNATION
Mr. Ajay Mittal Chief Accountant
Mr. Rakesh Jha Chief Financial Officer
Mr. Ranganath Athreya Co. Secretary & Compl. Officer
Mr. Sandeep Batra President
 Business Objective:
 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 products and services.
 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
 Strategic Pillars:
Driving force behind every decision at the bank:
 One Bank, One KPI, One ROE
 Fair to the Bank, Fair to the Customer
 Focus on Service Orientation
 Ecosystem Banking
 Technology at the core
 Technologies Used In ICICI Bank:
ICICI use many type of advance technological software like Pinnacle 7.0 and Pinnacle
7.016. From this software ICICI bank uses the e-banking, core banking, and mobile banking
electronic display. ICICI Bank was using Teradata for its data warehouse. However due to
its hardware and upgrades, the cost of procurement 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 Data Warehouse was delayed, so queries may not reflect the most
current data. ICICI Bank was also dependent on Teradata for support and other activities.
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, such as, Sybase, SAS and Netezza. The primary criteria for evaluation were
the price-to-performance ratio where Sybase emerged the clear winner. During this rigorous
testing, Sybase delivered faster results on independent hardware and operating systems
with minimum infrastructure.

 Products & Services:
ICICI group has always been at the forefront of developing innovative financial products,
which caters to various needs of people from all walks of life. Over the years, it has
launched several financial products that offer financial support, security and more to not just
individuals, but to big and small organisations too.
ICICI Bank offer products and services like an online money transfer and tracking service,
current account, savings account, time deposits, recurring deposits, mortgage, loans,
automated lockers, credit cards, prepaid cards, debit card and a digital wallet called ICICI
Pockets.
 PERSONAL BANKING
1) Loan Product - ICICI Bank offers wide variety of Loans Products to suit your requirements:
 Home Loan
 Loan Against Property
 Car Loan
 Personal Loan
 Consumer Finance
 Education Loan
 Gold Loan
 Loans Against Securities
 Commercial Business Loan
 Pradhan Mantri Mudra Yojana
 Stand-Up India Scheme
2) Deposit Products –
 Savings Account
 Current Account
 Fixed Deposits
 Demat Account
 Safe Deposit Lockers
3) Insurance Products –
 Life Insurance
 Health Insurance
a) Complete Health Insurance Policy
b) Health Care Plus
c) Personal protect Insurance Policy
 Home Insurance

 Car Insurance
 Two Wheeler Insurance
4) Investment Options – ICICI Bank offers following fixed investment options to help build
wealth at low risk with secure returns, safety, convenience and tax benefits:
 National Pension System
 Bonds
 Senior Citizen Saving Schemes
 Public Provident Fund
 Sukanya Samriddhi Yojana(SSY) Account
5) Investment Products – ICICI Bank offers following wide range of investment products
which may help to diversify investment holdings:
 Mutual Fund
 Gold Monetisation Scheme
6) Cards –
 Debit Card
 Credit card
 Prepaid card
 Travel Card
 Unifare Metro Card
 Commercial Card
 Merchant Services
7) Payment Services:
 Cheque Printing
 Demand draft
 Funds Transfer
 Real Time Gross Settlement(RTGS)
 National Electronic Fund Transfer(NEFT)
8) Access To Bank:
 Internet Banking
 Mobile Banking
 ATM
 Branch
 CORPORATE BANKING
1) Transaction Banking

2) Global Markets
3) Investment Banking
4) Financial Institutions Capital markets and Custodial Services
5) Project Finance
 NRI BANK ACCOUNTS
1) Rupee Accounts
2) Foreign Currency Accounts
3) Premium Accounts
4) Special Accounts
5) NRI Minor Account
6) Fixed Rupee Account
7) Fixed Deposit Foreign Currency Account
8) Recurring Deposit Account
9) investments
10)Insurance
11)Loans
12)Global Banking
 Types Of Accounts in ICICI:
 SAVINGS ACCOUNT: ICICI also offers different types of savings account, customized as
per individual needs and requirements:
1) Titanium Privilege Account: Titanium Privilege Savings Account is designed to
offer range of products and services that makes banking convenient.
 Benefits:

i. Complimentary personal accident insurance protection
ii. Debit Card benefits
iii. Discount on lockers
iv. Maximum returns
v. Convenient banking
2) Gold Privilege Account: Gold Privilege Savings Account is designed to offer range
of products and services that makes banking convenient.
 Benefits:
i. Priority service
ii. Discount on lockers
iii. Unlimited free access to any bank’s ATM throughout the country
iv. Special asset deals from time to time
v. Waiver of DD/PO charges for up to Rs. 1,50,000 per day
3) Silver Savings Account: Silver Savings Account is designed to offer range of
products and services that makes banking convenient.
 Benefits:
i. Lower locker rental
ii. DD/PO charges waiver
iii. Free anywhere banking facility
iv. SMS alert facility
4) Regular Savings Account: Regular Savings Account, when opened with ICICI,
comes with an array of privileges and benefits.
 Benefits:
i. Money multiplier facility
ii. Smart shopper silver debit card
iii. Other VISA benefits
5) Pockets Savings Account: Pockets is a unique “Digital Bank” and is a virtual place
to store money and use it whenever needed. Customer of any bank can create a
pockets account and instantly start using it to send and receive money from anyone.
It is a visa-powered e-wallet that customer of any bank can use to recharge mobile,
send money, shop anywhere, pay bills and much more. Pockets wallet also comes
with a physical shopping card which can be used to shop on any website or retail
stores.
6) 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.

 Benefits:
i. The parents/guardian can open and operate the account on behalf of
the minor.
ii. Debit Card benefits
iii. Facility to debit money from parents account to the young stars
account.
iv. Free passbook facility
v. Manage the account from anywhere, anytime using internet banking,
iMobile app and ATMs.
7) Advantage Woman Savings Account: The ICICI Bank Advantage Woman Savings
Account enables today’s independent women to enjoy hassle-free banking services.
 Benefits:
i. Cashback up to Rs. 750 per month on dining, entertainment and
jewellery and offers on usage of Debit Card.
ii. Free unlimited access to all banks’ ATMs
iii. Daily cash and withdrawal limit as per account variant
iv. Discount on lockers
8) 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.
 Benefits:
i. Special senior citizens desk to cater to all banking transactions, so that
you don’t wait in queues.
ii. Higher interest rate on FD/RD
iii. Free special senior citizen LIFE PLUS debit card
iv. Money multiplier facility
v. Extended banking hours allows you to visit branches, as per
convenience.
vi. Anywhere banking access to various services
vii. Nomination facility available
viii. Quarterly average balance (QAB) requirement of Rs.5000
ix. Quarterly physical statements are delivered to doorstep to absolutely
free of cost
x. Passbook on request
9) Basic Savings Bank Account: With zero balance savings account, basic savings
account are operated under Pradhan Mantri Jan Dhan Yojana (PMJDY).
 Benefits:
i. No charges on ICICI Debit Card

ii. Free passbook facility
iii. Free personalized RuPay Debit card
iv. Free cheque leaves
 CURRENT ACCOUNT: ICICI Current Account provides a variety of services to its
customers. Keeping in consideration the different banking needs of the users, ICICI Bank
provides a large number of current account variants to cater to the user’s financial needs.
1) Regular Current Account Variants:
a) New Start Up Current Account:
 Benefits:
i. Zero balance current account
ii. Free mobile alert’s facility
b) Shubhaarambh Current Account:
 Benefits:
i. Zero balance current account
ii. Free NEFT and RTGS transactions
c) Smart Business Account:
 Benefits:
i. RTGS and NEFT collections free of charge
ii. Free variant change to any ICICI Bank current account
d) Smart Business Account-Gold:
 Benefits:
i. Free cheque collection and cheque payments
ii. Free RTGS and NEFT transactions
e) Roaming Current Account Gold:
 Benefits:
i. Free product type change to any ICICI current account product
ii. Free local cheque collection and payment
f) Roaming Current Account Premium:
 Benefits:
i. Free non-cash transaction
ii. Free cheque payment
g) Roaming Current Account Classic:
 Benefits:
i. Free online NEFT and RTGS transactions
ii. Free cheque collection and payment anywhere

h) Roaming Current Account Standard:
 Benefits:
i. Free cheque collection and payment anywhere
ii. Free online RTGS and NEFT transactions
2) Premium Current Account Variants:
a) Club Elite Ivy:
 Benefits:
i. Unlimited transactions
ii. Get a dedicated Relationship Manager
b) Roaming Current Account Elite:
 Benefits:
i. Free NEFT and RTGS transactions
ii. Free mobile alerts facility
c) Smart Business Account-Platinum:
 Benefits:
i. Free NEFT and RTGS transactions
ii. Free mobile alerts facility
d) Roaming Current Account Platinum:
 Benefits:
i. Free cheque collection and payment anywhere
ii. Free RTGS and NEFT transactions
e) Roaming Current Account Gold Plus:
 Benefits:
i. Avail free mobile alerts facility
ii. Free cheque collection and payment anywhere across the country
f) Made 2 Order:
 Benefits:
i. Customize account as per the business need
ii. Customize charges for services
3) One Globe Trade Account Variants:
a) Trade Basic:
 Benefits:
i. Free inward remittances
ii. Free non-cash transactions

b) Trade Gold:
 Benefits:
i. Free NEFT and RTGS collections
ii. Free non-cash transactions
c) Trade Premium:
 Benefits:
i. Free courier and registered post charges
ii. Free NEFT and RTGS payments and collections
 Some Of ICICI’s First:
 E-locker (2012):
ICICI e-locker is an online document storage facility to store all your valuable documents at
one central secure location. Be it your birth or marriage certificate, passbook statement, life
insurance policy, PAN card copy or any other prized document; access all your documents
anytime conveniently.
 Pockets (2012):
It is a VISA-powered e-wallet that customer of any bank can use to recharge mobile, send
money, shop anywhere, pay bills and much more. Pockets wallet also comes with a
physical shopping card which can be used to shop on any website or retail stores. Pockets
is the first app in India to offer UPI, NFC and Bharat QR code payments.
 Akodara-First Digital Village (2015):
Akodara became India’s first Digital Village. Akodara village in Sabarkantha district of
Gujarat has earned the coveted tag of becoming India’s first digital village. The village with
a total population of 1191 people and 250 households uses a various cashless system for
payments of goods and services.
ICICI bank’s innovation agenda for our villages is driven by the future needs of a Digital
India. Inspired by the success of India’s first digital Village at Akodara that stood out as a
model cashless village in the wake of demonetisation, ICICI Bank pledged to transform 100
villages into ICICI Digital Villages across the country within 100 days.
 Smart Vaults (2015):
The first of its kind locker service in India, the “Smart Vault” can safeguard valuables while
enjoying the convenience of accessing them any time, any day. To provide the best in
convenience and safety, the smart vault is designed with state-of-the-art robotic technology
and high-end security.

 Robotic Technology:
The Smart Vault is powered by revolutionary robotic technology that minimizes
human intervention while operating the locker. The advanced Radio Frequency
Identification (RFID) enabled mechanism scans request and retrieves locker using
robotic arm from robust and secure vault. Locker is made available conveniently at a
kiosk. After the work with the locker is complete, the robotic arm also retracts locker
back to its secured location.
 High-end Security:
The Smart Vault is equipped with the most evolved and intelligent security systems.
The access to the locker room is secured by Debit Card and Biometric
authentication. The locker itself has multi-level security checks with Debit Card
swipe, ATM PIN authentication, unbreakable lock system and an option of using an
additional personal lock as well. These cutting-edge security features ensure that
valuables are safe in the fortified vault and that only the owner of the vault can
access the valuables. An access to Smart Vault can be extended to joint holder of
the account by getting an add-on Debit Card issued in their name.
 Robotic Arm in Note Sorting (2017):
ICICI Bank was first to introduce “Robotic Arms” to digitise operations at its currency
chests. The bank is the first commercial bank in the country and among few globally to
customise and deploy industrial robots to automate and perform repetitive high volume
steps in handling cash processing on high-end note sorting machines.
These Robotic Arms now help sort over six million notes every working day and 1.8 billion
annually. This brings in a frictionless and completely mechanised process of note sorting
that leads to higher accuracy and flexibility to handle larger volumes continuously. It has
also enabled the personnel to focus more on value-added and supervisory functions.
The Robotic Arms have been deployed at the bank’s currency chests across 12 cities
namely New Delhi, Jaipur, Chandigarh, Mumbai, Bengaluru, Hyderabad, Bhopal, Sangli,
Mangaluru, Raipur, Siliguri and Varanasi.
The Robotic Arms use a combination of sensors to check over 70 parameters within
seconds that enable them to operate continuously and seamlessly without any break.
 Mera iMobile (2018):
iMobile app, the most comprehensive and secure Mobile Banking application, offers over
250+ banking and informational services to take care of daily banking needs conveniently
from smartphone. For easier accessibility, iMobile app is available on Android and iOS.
With over six lakh users giving iMobile app the highest rating on Google Play Store, it has
become the top-rated Mobile Banking app in the industry.

 Features of iMobile:
i. Taxi payments
ii. Rail tickets
iii. Flight tickets
iv. Hotel bookings
v. Bus ticket bookings
vi. Local deals
vii. Bill pay reminders
viii. iDirect
ix. Check status
x. Insta Banking
xi. Expressions Debit Card
xii. Tax payment
xiii. Buy General Insurance
xiv. Buy Life Insurance
xv. Forex & Travel Card
 PayLater-Digital Credit (2018):
PayLater is a digital credit product offered by ICICI Bank to existing customers of the bank.
Through this facility, credit can be extended for up to 45 days at no additional interest.
PayLater can be used to shop or pay bills instantly.
 Key Highlights of ICICI Bank PayLater:
i. This is a virtual payment mode that doesn’t require a physical card to
complete transactions.
ii. Get extended credit for up to 45 days.
iii. This payment mode can be used to shop, pay bills, or make payments to
merchants who have a UPI (United Payments Interface) ID.
iv. Apply through multiple channels including on the mobile app, internet banking
or on pockets (digital wallet).
 InstaBIZ (2019):
InstaBIZ is an app for business customers to access banking accounts and do transactions
on both mobile and tablet devices. One need to have is Business Banking Debit/Inquiry
Card or Corporate Internet Banking access.
 Benefits of InstaBIZ:
i. View mini and detailed statement
ii. Download and e-mail statement
iii. Request for cheque book or stop cheque
iv. Do cheque status enquiry
v. Insta Banking facility before logging in to the application
vi. Purchase and recharge Fastag
vii. Bill payment and recharge
viii. Settlement of inward remittances

Having transaction access, InstaBIZ allows performing all the below transactional services in
addition to facilities mentioned for view access:
i. Initiate and approve Fund Transfers to own accounts or third party accounts
ii. Initiate and approve Bill Payments
iii. Recharge – Prepaid Mobile Number, DTH and Data Card
iv. Add, view and delete Payee
v. Approve Cash Management Solutions (CMS) payments and Trade Online
approvals for Letter of Credit (LC) issuance, LC amendment, Remittances,
Bills acceptance, Bills Payments
vi. Pay/Collect using Eazypay – Unified Payment Interface (UPI)
vii. Download and e-mail receipts for transactions initiated and approved
viii. MTreasury Report services
 Service At Your Convenience:
With InstaBIZ, one can:
i. Locate ICICI Bank branches and ATMs
ii. Call Customer Care
iii. Rate the application
iv. Share feedback
 Secure Transactions:
InstaBIZ employs advanced encryption technologies making it as safe and secure as
Internet Banking that you access from your desktop/laptop. No sensitive information
is stored on your mobile handset.
The app has multi-level security features as listed below:
i. Login process
ii. Secure fund transfer
iii. Storage encryption
iv. Communication encryption
v. User Device Permissions
 Subsidiaries:
 Domestic:
i. ICICI Prudential Life Insurance Company Limited
ii. ICICI Lombard General Insurance Company Limited
iii. ICICI Prudential Asset Management Company Limited
iv. ICICI Prudential Trust Limited
v. ICICI Prudential Pension Funds Management Company Limited
vi. ICICI Securities Limited
vii. ICICI Securities Primary Dealership Limited

viii. ICICI Venture Funds Management Company Limited
ix. ICICI Home Finance Company Limited
x. ICICI Investment Management Company Limited
xi. ICICI Trusteeship Services Limited
 International:
i. ICICI Bank Canada
ii. ICICI Bank USA
iii. ICICI Bank UK PLC
iv. ICICI Bank Germany
v. ICICI Bank Eurasia Limited Liability Company
vi. ICICI Securities Holdings Inc.
vii. ICICI Securities Inc.
viii. ICICI International Limited
 Awards & Recognitions:
Over the years, ICICI Bank has been recognized at various international and national level
platforms for its initiatives in spheres of technology, customer service and business
practices.
Some of them are:
 ICICI Bank:
i. ICICI Bank has emerged as the most trusted brand among private sector banks;
according to a survey by the Economic Times brand Equity. This is the fifth time in a
row that the Bank has topped ET’s list of the most trusted brands among private
sector banks.
ii. ICICI Bank has been adjudged the ‘Best Company to Work For’ by Business
Today magazine in the Banking, Financial Services and Insurance (BFSI) sector.
This is the fourth year in a row that the Bank has received this accolade. The bank
stood at the fourth position in the overall list of top 25 companies.
iii. ICICI Bank has been adjudged as the ‘Best Bank in Innovation’ at the recently
concluded Business Today-Money Today Financial Awards 2020. The Bank was
recognised as the winner for InstaBIZ, an industry-first initiative which is a
comprehensive digital platform curated specifically for MSME and self-employed
customers.
iv. ICICI Bank was awarded by the National Bank for Agricultural and Rural
Development (NABARD) at the Gujarat State Focus Paper 2020-2021 event. The
Bank won the award in the ‘Best Bank under SHG Bank Linkage Best Bank
Category’. The Bank won the award for its work done to support women

beneficiaries through its programme for Self Help Groups and also for Facilitating
credit linkages for relevant groups.
v. ICICI Bank has won six awards at ‘The Asset Triple A Digital Awards 2020’. This is
the highest number of awards among all Banks in India. The Bank was declared
winner in the following categories for the India region-‘Digital Bank of the Year’,
‘Best Retail Mobile Banking Experience’, ‘Best Digital Wealth Management
Experience’, ‘Best ATM Project’, ‘Best Data Analytics Project’ and ‘Best Digital
Upgrade’.
vi. ICICI Bank won three awards at the IBA Banking Technology Awards 2020. The
Bank was declared winner in two categories namely ‘Best Use of Data & Analytics
for Business Outcome’ and ‘Most Innovative Product Using Technology’ while
it was adjudged runner up in the ‘Best Payment Initiatives’ category.
vii. ICICI Bank won the Bronze Medal in the ‘CSR & Not-for-Profit (beyond metro)’
category at The India PR & Corporate Communications Awards 2019. The Bank won
this award for the skilling initiatives undertaken through ICICI Foundation for
Inclusive growth that help the less-privileged youth in rural and urban areas by
enabling them to earn sustainable livelihoods.
 ICICI Prudential Life Insurance Company:
i. Adjudged as the ‘Life Insurance Provider of the Year’ and felicitated with the
‘Gold Award’ by Outlook Money Awards 2018.
ii. ICICI Pru Heart/Cancer Protect voted ‘Product of the Year 2018’ in the life
insurance category by Product of the Year (India) Private limited.
iii. Awarded the ‘Best Customer Orientation in Life insurance’ award by Emerging
Asia Awards 2018.
iv. Adjudged as the ‘Best Life Insurance Company of the Year’ by Emerging Asia
Insurance Awards 2018.
v. ICICI Pru iProtect Smart awarded the ‘Best Term Insurance Provider of the Year’
by Money Today Financial Awards 2017-18.
vi. Awarded in the ‘Best Growth in Life Insurance’ category by Emerging Asia Awards
2018.
vii. ‘Best Insurance Firm of the Year 2018 – Life Insurance’ for having one of the
highest Persistency and Claim Settlement Ratio in the life insurance industry at the
Moneycontrol Wealth Creator Awards.

viii. ‘Amiable Insurer’ in the Life Insurance Large category for one of the highest
Persistency Ratio 7 low Grievance Ratio at the 5th Economic Times Insurance
Summit Awards 2018.
ix. Due to its robust and diversified distribution network, ICICI Prudential Life Insurance
has been adjudged as the ‘Sales Champion’ in the Life Insurance – Large category
at the 5th Economic Times Insurance Summit Awards 2018.
x. Adjudged as the ‘Life Insurance Company of the Year’ by Insurance India Summit
& Awards 2018.
xi. Awarded the ‘Certificate of Merit’ for the FY2017-18 Annual report in the Insurance
Sector category by the South Asian Federation of Accountants (SAFA).
xii. ICICI Prudential Life Insurance has received the ‘ISO 22301:2012 Certificate’ for
the business continuity preparedness, to deliver and support insurance products and
customer service.
 ICICI Lombard General Insurance Company:
i. ICICI Lombard has been declared as the Winner of ‘Golden Peacock National
Training Award’ for 2019. This award instituted by the Institute Of Directors (IOD) in
ii. 1998, identifies excellence in training practices in organizations and rewards training
that makes a real difference by offering tangible benefits to the organization. This is
a significant achievement in the field of Training and acts as a role model for
businesses and corporate.
iii. The Company was selected as the joint winner in the ‘Best Motor Insurance
Provider of the Year’ category. The recognition, a part of the Business Today-
Money Today financial Services Awards, was instituted in 2013 to reward the best
companies in various financial categories including insurance and mutual funds.
iv. The Company was adjudged the ‘Most Broker Friendly Insurer - 2019’ in the top
Quartile by the Insurance Brokers Association of India.
v. The Company was conferred with the Effie ‘Silver’ Award 2019 for the health
insurance campaign “Tension nahin, Insurance lijiye”. The award is organised by
the prestigious Advertising Club, which stands for effectiveness in marketing
communications.
vi. The campaign #IWillDriveYouHome of the Company won the award under the
‘Best Use of Digital/Social Media category’.

The award is organised by ET Brand Equity and recognises the achievements of
brands in the space of Corporate Communication, PR and Social Media.
vii. The Company was conferred the ET Aspire 2 Good award for exhibiting ‘All-round
Excellence in Corporate Social Responsibility’ for the years 2016-17 and 2017-
18.
viii. The Company received accolades under the ‘Best Corporate Social
Responsibility Practices’ category organised by BFSI Awards. This recognition
celebrates their CSR efforts.
 ICICI Venture:
i. In 2018, ICICI Venture was awarded Newscorp VC Circle’s Hall of Fame – Indian
‘Fund Manager of the year 2018’.
ii. The Company also received the award for ‘Venture Fund of the Year’ as part of
ASSOCHAM’s Capital Markets Excellence awards
iii. In 2010, ICICI Venture received the award for ‘Indian Private Equity Exit of the
Year’ and ‘Indian Private Equity Professional of the Year’ from the Asian Venture
Capital Journal or AVCJ. A reputed industry publication.
iv. ICICI Venture was conferred the ‘Best Private Equity Firm in India’ Award for 2007
and 2008, by Private Equity International Asia (PEI Asia) as a part of its annual
Private Equity Awards.
 Social Initiatives:
The Bank has funded an array of eco-friendly projects across the country to help restore
ecological balance. The Bank strives to uphold the principles of sustainability in every way
they can. From tree plantation drives to the solar electrification of villages, Public Health
Centres and the Bank’s Branches across India; they leave no stone unturned in trying to
build a sustainable future for our planet. ICICI Bank has also been encouraging its
employees to contribute to its green initiatives for a wider reach and a much larger impact.
 Solar Electrification:
ICICI Bank has partnered with local NGOs in Maharashtra with the aim of electrification of
villages and Public Health Centres in remote regions of the state.

Jawahar Tehsil was in darkness until ICICI Bank assisted in the solar electrification of 7
villages in the Tehsil. The Bank transformed lives of residents of over 190 households
across these 7 villages.
In Nandurbar district, Public Health Centres (PHCs) could not function properly due to lack
of electricity. ICICI Bank helped in the electrification 11 PHCs using solar power. This has
significantly improved access to health care services for the rural and tribal populations of
the district.
 Tree Plantation Drive:
There is no growth without preservation. ICICI Bank led a tree plantation drive in
Chhattisgarh and Maharashtra with support from the government and the local NGOs. The
drive was aimed at benefitting the local tribal communities. With a grant assistance of Rs. 7
million for planting 170,000 trees; ICICI Bank endeavoured to enhance the green cover in
these states. These trees are also expected to provide additional sources of livelihood to
the locals of the region.
ICICI Bank is keen on making the cities green. They have sponsored a project for
developing the vicinity of the Base hospital in Delhi. The Bank undertook a tree plantation
drive around the hospital which not only helped in improving the aesthetics of the hospital,
but also helped in uplifting the mood of the patients and the staff.
 Solar Bank Branches:
At ICICI Bank, they believe in practicing what they preach. Many of the Bank’s Gramin and
Semi-urban branches are located in small villages where power supply is limited or absent.
This disrupts the smooth running of banking services and also affects customer
convenience.
To ensure uninterrupted banking transactions at the Gramin branches, ICICI Bank has
installed solar power facilities at 522 Gramin branches across 7 states of India.
 Green Projects:
 Spreading Our Green Initiatives Far & Wide:
As part of relentless drive to protect the planet’s natural resources and promote
sustainability, ICICI Bank has supported various ecological projects across the
country. They have also undertaken many programmes which enable them to play a
small part in helping create a greener future for our planet.
 Green Governance Programme:
ICICI Bank collaborated with the Indian Army from 2006 to 2011 to assist 25
resource conservation and biodiversity protection projects across the country. The
Bank offered financial support to the Army in implementing these projects. The
projects were aimed at enhancing biodiversity conservation measures across various
establishments such as cantonments, depots, military farms and command areas.

They included wind energy generation, bio-gas plant construction, solid waste
management and construction of water reservoirs across various parts of the
country.
 “Go Green” Programme:
As a step towards building a greener future, ICICI Bank launched “Go Green” – an
organisation-wide initiative. The initiative covered energy conservation, water
conservation and reduction of paper usage. With active participation from their
employees, the Bank has reduced paper consumption by 33% over the past two
years thereby saving over 13,000 trees.
 Digital Initiatives:
In March 2020, the Bank launched a comprehensive digital banking platform called ICICI
STACK. This platform offers nearly 500 services to ensure uninterrupted banking
experience to the retail, business banking, SME and corporate customers. Many of these
services are first-in-the industry and are available instantly on the Bank’s mobile banking
platforms such as iMobile and InstaBIZ or the internet banking platform.
 Updates Related To Covid-19 Outbreak:
 The Bank has formed a quick response team to take steps to protect the health of the
employees and provide essential services to the customers.
 About 97% of the branches are functional with reduced working hours during the lockdown.
The branches were staffed based on the customer footfalls and employees were rostered.
 ATMs across the country remain operational at all times with an average uptime of about
98%
 The Bank has deployed mobile ATM vans for the benefit of the general public residing in
and around the containment zones.
 Customers are encouraged to use the Bank’s digital channels like mobile application or
internet banking platform to fulfil their banking needs.
 To support the nation in its fight against the Covid-19 outbreak, the ICICI Group has
committed a sum of Rs. 100 crore, including Rs. 80 crore to the PM Cares Fund.

BANKING SECTOR

A Bank is a financial institution that accepts deposits and recurring accounts from the
people and creates Demand Deposit. Lending activities can be performed either directly or
indirectly through capital markets. Due to their importance in the financial stability of a
country, banks are highly regulated in most countries. Most nations have institutionalized a
system known as fractional reserve banking under which banks hold liquid assets equal to
only a portion of their current liabilities. In addition to other regulations intended to ensure
liquidity, banks are generally subject to minimum capital requirements based on an
international set of capital standards, known as the Basel Accords.
Banking in its modern sense evolved in the fourteenth century in the prosperous cities of
Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and
lending that had their roots in the ancient world. In the history of banking, a number of
banking dynasties – notably, the Medicis, the Fuggers, the Welsers, the Berenbergs, and
the Rothschilds – have played a central role over many centuries. The oldest existing retail
bank is Banca Monte dei Paschi di Siena, while the oldest existing merchant bank is
Berenberg Bank.
 History:
The concept of banking may have begun in ancient Assyria and Babylonia, with the
merchants offering loans of grain as collateral within a Barter System. Lenders in ancient
Greece and during the Roman Empire added two important innovations: they accepted
deposits and changed money. Archaeology from this period in ancient China and India also
shows evidence of money lending.
The present era of banking can be traced to medieval and early Renaissance Italy, to the
rich cities in the centre and north like Florence, Lucca, Siena, Venice and Genoa. The Bardi
and Peruzzi families dominated banking in 14th-century Florence, establishing branches in
many other parts of Europe. One of the most famous Italian banks was the Medici Bank,
set up by Giovanni di Bicci de’ Medici in 1397. The earliest known state deposit bank,
Banco di San Giorgio (Bank of St. George), was founded in 1407 at Genoa, Italy.
Fractional Reserve Banking and the issue of banknotes emerged in the 17th and 18th
centuries. Merchants started to store their gold with the goldsmiths of London, who
possessed private vaults, and charged a fee for that service. In exchange for each deposit
of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the
metal they held as a bailee; these receipts could not be assigned; only the original
depositor could collect the stored goods.
Gradually the goldsmiths began to lend the money out on behalf of the depositor, and the
promissory notes (which evolved into banknotes) were issued for money deposited as a
loan to the goldsmith. The goldsmith paid interest on these deposits. Since the promissory
notes were payable on demand, and the advances (loans) to the goldsmith’s customers
were repayable over a longer time period, this was an early form of fractional reserve

banking. The promissory notes developed into an assignable instrument which could
circulate as a safe and convenient form of money backed by the goldsmith’s promise to
pay, allowing goldsmiths to advance loans with little risk of default. Thus, the goldsmiths of
London became the forerunners of banking by creating new money based on credit.
The Bank of England was the first to begin the permanent issue of banknotes, in 1695.
The Royal Bank of Scotland established the first overdraft facility in 1728. By the
beginning of the 19th century a bankers’ clearing house was established in London to
allow multiple banks to clear transactions. The Rothschilds pioneered international finance
on a large scale, financing the purchase of the Suez Canal for the British government.
 Etymology:
The word bank was taken from Middle French banque, from Old Italian banca, meaning
“table”, from Old High German banc, “bench, counter”. Benches were used as makeshift
desks or exchange counters during the renaissance by Florentine bankers, who used to
make their transactions atop desks covered by green tablecloths.
 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)
The definition of a bank varies from country to country.
Under English common law, a banker is defined as a person who carries on the business of
banking by conducting current accounts for his customers, paying cheques drawn on
him/her and also collecting cheques for his/her customers.
 Standard Business:
Banks act as payment agents by conducting checking or current accounts for customers,
paying cheques drawn by customers in the bank, and collecting cheques deposited to
customers’ current accounts. Banks also enable customer payments via other payment
methods such as Automated Clearing House (ACH), Wire transfers or telegraphic transfer,
and Automated Teller Machines (ATMs).
Banks borrow money by accepting funds deposited on current accounts, by accepting term
deposits, and by issuing debt securities such as banknotes and bonds. Banks lend money
by making advances to customers on current accounts, by making installment loans, and by
investing in marketable debt securities and other forms of money lending.
Banks provide different payment services, and a bank account is considered indispensable
by most businesses and individuals. Non-banks that provide payment services such as

remittance companies are normally not considered as an adequate substitute for a bank
account.
Banks can create new money when they make a loan. New loans throughout the banking
system generate new deposits elsewhere in the system. The money supply is usually
increased by the act of lending, and reduced when loans are repaid faster than new ones
are generated.
 Range of Activities:
Activities undertaken by banks include personal banking, corporate banking, investment
banking, private banking, transaction banking, insurance, consumer finance, foreign
exchange trading, commodity trading, trading in equities, futures and options trading and
money market trading.
 Channels:
Banks offer many different channels to access their banking and other services:
i. Branch, in-person banking in a retail location.
ii. Automated Teller Machine banking adjacent to or remote from the bank.
iii. Bank by mail: Most banks accept cheque deposits via mail and use mail to
communicate to their customers.
iv. Online banking over the internet to perform multiple types of transactions.
v. Mobile banking is using one’s mobile phone to conduct banking transactions.
vi. Telephone banking allows customers to conduct transactions over the telephone
with an automated attendant, or when requested, with a telephone operator.
vii. Video banking performs banking transactions or professional banking consultations
via a remote video and audio connection. Video banking can be performed via
purpose built banking transaction machines (similar to an Automated Teller Machine)
or via a video conference enabled bank branch clarification.
viii. Relationship Manager, mostly for private banking or business banking, who visits
customers at their homes or businesses.
ix. Direct Selling Agent, who works for the bank based on a contract, whose main job is
to increase the customer base for the bank.

 Business Models:
A bank can generate revenue in a variety of different ways including interest, transaction
fees and financial advice. Traditionally, the most significant method is via charging interest
on the capital it lends out to customers. The bank profits from the difference between the
level of interest it pays for deposits and other sources of funds, and the level of interest it
charges in its lending activities.
This difference is referred to as the spread between the cost of funds and the loan interest
rate. Historically, profitability from lending activities has been cyclical and dependent on the
needs and strengths of loan customers and the stage of the economic cycle. Fees and
financial advice constitute a more stable revenue stream and banks have therefore placed
more emphasis on these revenue lines to smooth their financial performance.
 Products:
 Retail:
i. Savings account
ii. Recurring deposit account
iii. Fixed deposit account
iv. Money market account
v. Certificate of deposit (CD)
vi. Individual retirement account (IRA)
vii. Credit card
viii. Debit card
ix. Mortgage
x. Mutual fund
xi. Personal loan
xii. Time deposits
xiii. ATM card
xiv. Current accounts
xv. Cheque books
xvi. Automated Teller Machine (ATM)
xvii. National Electronic Fund Transfer (NEFT)
xviii. Real Time Gross Settlement (RTGS)
 Business (or Commercial/Investment) Banking:
i. Business loan
ii. Capital raising (equity/debt/hybrids)
iii. Revolving credit
iv. Risk management [foreign exchange(FX)], interest rates, commodities,
derivatives
v. Term loan
vi. Cash management services (lock box, remote deposit capture, merchant
processing)

vii. Credit services
 Capital & Risk:
Banks face a number of risks in order to conduct their business, and how well these risks
are managed and understood is a key driver behind profitability, and how much capital a
bank is required to hold. Bank capital consists principally of equity, retained earnings and
subordinated debt.
Some of the main risks faced by banks include:
 Credit Risk: Risk of loss arising from a borrower who does not make payments as
promised.
 Liquidity Risk: Risk that a given security or asset cannot be traded quickly enough
in the market to prevent a loss (or make the required profit).
 Market Risk: Risk that the value of a portfolio, either an investment portfolio or a
trading portfolio, will decrease due to the change in value of the market risk factors.
 Operational Risk: Risk arising from execution of a company’s business functions.
 Reputational Risk: A type of risk related to the trustworthiness of business.
 Macroeconomic Risk: Risks related to the aggregate economy the bank is
operating in.
The capital requirement is a bank regulation, which sets a framework within which a bank
or depository institution must manage its balance sheet. The categorization of assets and
capital is highly standardized so that it can be risk weighted.
 Banks In The Economy:
The economic functions of banks include:
i. Issue of money, in the form of banknotes and current accounts subject to cheque or
payment at the customer’s order. These claims on banks can act as money because
they are negotiable or repayable on demand, and hence valued at par. They are
effectively transferable by mere delivery, in the case of banknotes, or by drawing a
cheque that the payee may bank or cash.
ii. Netting and settlement of payments – banks act as both collection and paying agents
for customers, participating in interbank clearing and settlement systems to collect,
present, be presented with, and pay payment instruments. This enables banks to

economize on reserves held for settlement of payments, since inward and outward
payments offset each other. It also enables the offsetting of payment flows between
geographical areas, reducing the cost of settlement between them
iii. Credit intermediation – banks borrow and lend back-to-back on their own account as
middle men.
iv. Credit quality improvement – banks lend money to ordinary commercial and personal
borrowers (ordinary credit quality), but are high quality borrowers. The improvement
comes from diversification of the bank’s assets and capital which provides a buffer to
absorb losses without defaulting on its obligations. However, banknotes and deposits
are generally unsecured; if the bank gets into difficulty and pledges assets as
security, to raise the funding it needs to continue to operate, this puts the note
holders and depositors in an economically subordinated position.
v. Asset liability mismatch/Maturity transformation – banks borrow more on demand
debt and short term debt, but provide more long term loans. In other words, they
borrow short and lend long. With a stronger credit quality than most other borrowers,
banks can do this by aggregating issues (e.g. accepting deposits and issuing
banknotes) and redemptions (e.g. withdrawals and redemption of bank notes),
maintaining reserves of cash, investing in marketable securities that can be readily
converted to cash if needed from various sources (e.g. wholesale cash markets and
securities markets).
vi. Money creation/destruction – whenever a bank gives out a loan in a fractional
reserve banking system, a new sum of money is created and conversely, whenever
the principal on that loan is repaid money is destroyed.
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 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.

 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 1806, the Bank of Bombay in 1840 and the Bank of Madras
in 1843. These three banks also known as the Presidency banks were the independent
units and functioned as well. These 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
are mentioned below:
 Early phase from 1786 to 1969 of Indian Banks.
 Nationalization of Indian Banks
 New phase of Indian Banking System with the advent of Indian Financial & Banking Sector
Reforms after 1991

 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 (1806), 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 European 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. 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. The savings bank facility provided by the Postal department was
considered 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 Minister of India, Mrs. Indira Gandhi that 14 major commercial banks in the country
were 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 were 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 in 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.
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.
 Banking Structure 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.

 Public Sector Banks:
Public Sector Banks are a major type of bank in India, where a majority stake (i.e.
more than 50%) is held by the government. The shares of these banks are listed on
stock exchanges.
There are a total of 12 Public Sector Banks.
 Mergers:
The consolidation of SBI-associated banks started first by State Bank of India
merging its subsidiary State Bank of Saurashtra with itself on 13 August
2008. Thereafter it merged State bank of Indore with itself on August 27,
2010. The remaining subsidiaries, namely the State bank of Bikaner &
Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of
Patiala and State Bank of Travancore and Bharatiya Mahila Bank were
merged with State Bank of India with effect from 1 April 2017.
Vijaya Bank and Dena Bank was merged into Bank of Baroda in 2018. IDBI
Bank was categorised as a private bank with effect from January 2019.
On 30 August 2019, Finance Minister Nirmala Sitharaman announced the
government’s plan for further consolidation of public sector banks: Indian
Bank’s merger with Allahabad Bank (anchor bank – Indian Bank);
Punjab National Bank’s merger with Oriental Bank of Commerce and

United Bank (anchor bank – Punjab National Bank); Union Bank of
India’s merger with Andhra Bank and Corporation Bank (anchor bank –
Union Bank of India); and Canara Bank’s merger with Syndicate Bank
(anchor bank – Canara bank). The mergers took effect from 1 April, 2020.
 Public Sector Banks (Government Shareholding %, as of 1st April, 2020):
i. State Bank of India (61.00%)
ii. Bank of Baroda (63.74%)
iii. Union Bank of India (67.43%)
iv. Punjab National Bank (70.22%)
v. Canara Bank (72.55%)
vi. Punjab & Sind Bank (79.62%)
vii. Indian Bank (81.73%)
viii. Bank of Maharashtra (87.01%)
ix. Bank of India (87.0535%)
x. Central Bank of India (88.02%)
xi. Indian Overseas Bank (91%)
xii. Uco Bank (93.29%)
 Private Sector Banks:
The Private Sector Banks in India are the banks where the majority of the shares or
equity is not held by the government, but by private share holders. These banks are
a part of the Indian Banking System which comprises of both private banks and
public banks. However after liberalisation in the government banking policy in the
1990s, the private sector banks have emerged and have grown rapidly over the two
decades using the latest technology, providing contemporary innovations and
monetary tools and techniques.
The Private Sector Banks are split into two groups by financial regulators in India:
 Old Private Sector Banks:
The old private sector banks existed prior to Nationalisation in 1969 and
maintained their independence as they were too small to be nationalized.
At present, there are 12old private sector banks in India:
i. Catholic Syrian Bank
ii. City Union Bank
iii. Dhanlaxmi Bank
iv. Federal Bank
v. Jammu & Kashmir Bank
vi. Karnataka Bank
vii. Karur Vysya Bank
viii. Lakshmi Vilas Bank
ix. Nainital Bank

x. Ratnakar Bank (RBL Bank)
xi. South Indian Bank
xii. Tamilnad Mercantile Bank
Among the above, Nainital Bank is a subsidiary of the Bank of Baroda, which has 98.57%
stake in it.
 New Private Sector Banks:
The new private sector banks were incorporated as per the revised guidelines
issued by the RBI regarding the entry of private sector banks in 1993.
At present, there are 9 new private sector banks in India:
i. Axis Bank
ii. Development Credit Bank (DCB Bank Ltd.)
iii. HDFC Bank
iv. ICICI Bank
v. IndusInd Bank
vi. Kotak Mahindra Bank
vii. Yes Bank
viii. IDFC Bank
ix. Bandhan Bank
x. IDBI Bank
 Foreign Banks In India:
It is now a well-established fact that India is one of the fastest-growing economies of
the world. Hence, it did not come as a surprise when India received the highest
Foreign Direct Investment (FDI) till date, in the year 2019-2020, amounting to a
whopping $65.37 billion. As one might expect, this boom in the economy has led to
the unparalleled growth of existing as well as new financial institutions in the country.
As a matter of fact, as many as 45 foreign banks are operational in India.
The country enjoys two-fold benefits owing to the presence of these foreign entities;
the first being boost in international transactions, and the second being increased
employment opportunities for qualified nationals. For what they are worth, the foreign
banks in India have also helped India establish a firmer international presence while
bringing in ease of business on a global scale for the domestic enterprises.

 Regional Rural Banks (RRBs):
Regional Rural Banks (RRBs) are Indian Scheduled Commercial Banks
(Government Banks) operating at regional level in different states of India. They
have been created with a view of serving primarily the rural areas of India with basic
banking and financial services. However, RRBs may have branches set up for urban
operations and their area of operation may include urban areas too.
The area of operation of RRBs is limited to the area as notified by Government of
India covering one or more districts in the state. RRBs also perform a variety of
different functions in following ways:
 Providing banking facilities to rural and semi-urban areas
 Carrying out government operations like disbursement of wages of
MGNREGA workers, distribution of pensions etc.
 Providing Para-Banking facilities like locker facilities, debit and credit cards,
mobile banking, internet banking, UPI etc.
 Small financial banks
In India, at present there are 43 Regional Rural Banks (RRBs) since 1 April 2020.
 Small Finance Banks:
Small Finance Banks are a type of niche banks in India. Banks with a small finance
bank license can provide basic banking service of acceptance of deposits and
lending. The aim behind these to provide financial inclusion to sections of the
economy not being served by other banks, such as small business units, small and
marginal farmers, micro and small industries and unorganised sector entities.
At present, in India, there are 10 Small Finance Banks in India:
i. Ujjivan Small Finance Bank
ii. Jana Small Finance Bank
iii. Equitas Small Finance Bank
iv. AU Small Finance Bank
v. Capital Small Finance Bank
vi. Fincare Small Finance Bank
vii. ESAF Small Finance Bank
viii. North East Small Finance Bank
ix. Suryoday Small Finance Bank
x. Utkarsh Small Finance Bank

 Payments Bank:
Payments Bank is an Indian new model of banks conceptualised by the Reserve
Bank of India (RBI). These banks can accept a restricted deposit, which is currently
limited to Rs. 100,000 per customer and may be increased further. These banks
cannot issue loans and credit cards. Both current account and savings account can
be operated by such banks. Payments Banks can issue ATM cards or debit cards
and provide online or mobile banking. Bharti Airtel set up India’s first live Payments
Bank.
At present, there are 6 Payments Bank operational in India:
i. Airtel Payments Bank
ii. India Post Payments Bank
iii. Jio Payments Bank
iv. Fino Payments Bank
v. Paytm Payments Bank
vi. NSDL Payments Bank
 Cooperative Banks:
Cooperative Bank is an institution established on the cooperative basis and dealing
in ordinary banking business. Like other banks, the cooperative banks are founded
by collecting funds through shares, accept deposits and grant loans.
The Cooperative bank is an important constituent of the Indian Financial System.
Though the Cooperative 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 play an important role even today in rural financing.
The business of cooperative bank in the urban areas also has increased
phenomenally in recent years due to the sharp increase in the number of primary
Cooperative Banks. Cooperative Banks in India are registered under the Cooperative
Societies Act. The cooperative Bank is also regulated by the RBI. They are governed
by the Banking Regulations Act 1949 and Banking Laws (Cooperative Societies) Act,
1965.
In India, at present, there are total 53 Urban Cooperative Banks and 31 State
Cooperative Banks.
 Globalization In The Banking Industry:
In modern time there has been a huge reduction to the barriers of global competition in the
banking industry. Increases in telecommunications and other financial technologies have

allowed banks to extend their reach all over the world, since they no longer have to be near
customers to manage both their finances and their risk. The growth in cross-border
activities has also increased the demand for banks that can provide various services across
borders to different nationalities. However, despite these reductions in barriers and growth
in cross-border activities, the banking industry is nowhere near as globalized as some other
industries. In the US, for instance, very few banks even worry about the Riegle-Neal Act,
which promotes more efficient interstate banking. In the vast majority of nations around the
globe the market share for foreign owned banks is currently less than a tenth of all market
shares for banks in a particular nation. One reason the banking industry has not been fully
globalized is that it is more convenient to have local banks provide loans to small business
and individuals. On the other hand, for large corporations, it is not as important in what
nation the bank is in, since the corporation’s financial information is available around the
globe.

RESEARCH OBJECTIVE

 Necessity Of Research & Importance:
The research project is to study my ecosystem and prepare the micromarket map with
details of various customer segments, presence of other private and public banks, business
opportunities available for ICICI Bank.
The study is a mode to understand the nearby catchment area, behaviour of people in the
area towards products and offerings of various banks other than ICICI – public or private.
 Research Methods Used:
The method used for deriving some important conclusions is through:
 Visiting other banks in the location for getting information
 Via internet
 Objective Of The Project:
 To grab the knowledge of the catchment and prepare the micromarket map.
 To have the knowledge of products and services of ICICI Bank.
 To study the behaviour of public (customers of other banks too) and their views
regarding offerings of public vs private banks.
 For knowing customers expectations from the bank.
 Study Area:
Pathalgaon; District – Jashpur
 Various Other Banks In Area For Information:
 State Bank of India
 Bank Of Baroda
 Punjab National Bank
 Central Bank Of India
 HDFC Bank
 IDBI Bank
 Axis Bank

A) MICROMARKET STUDY
 Study Area: Pathalgaon; District – Jashpur
 About Pathalgaon Block: Pathalgaon is a town and a Nagar Panchayat in Jashpur
district in the Indian state of Chhattisgarh. Situated in rural area of Chhattisgarh, it is
one of the 8 blocks of Jashpur district. According to the administration register, the
block code of Pathalgaon is 32.
As per the latest reports suggests, the block has 107 villages and there are total
38244 families in this block.
 Population of Pathalgaon Block: As per Census 2011, Pathalgaon’s population is
168112. Out of this, 83702 are males while the females count 84410 here. This block
has 23464 children in the age group of 0-6 years. Out of this 11904 are boys and
11560 are girls.
 Literacy Rate of Pathalgaon Block: Literacy rate in Pathalgaon Block is 52%.
88429 out of total 168112 population are literate here. In males the literacy rate is
61% and 43% in females.
The negative part is that illiteracy rate of Pathalgaon Block is 47%. Here 79683 out
of total 168112 persons are illiterate. In males the illiteracy rate is 38% and 56% in
females.
 Agricultural Status of Pathalgaon Block: The count of occupied individual of
Pathalgaon Block is 95084, still 73028 are un-employed and out of 95084 employed
persons, 37546 peoples are completely reliant on farming.
The study is divided into three parts:
i. Customer segments
ii. Presence of other Private and Public Banks
iii. Business opportunities available for ICICI Bank

CUSTOMER SEGMENTS
Pathalgaon which comes in Jashpur district is mainly a farmer dominated area. Most of
the people completely rely on farming and work either as agricultural workers, cultivators
or daily wage workers.
The data of various customer segments given below is collected from various
government sites. They are:
1) FARMERS:
AREA NO. OF FARMERS (acc. To Census 2010-11)
Below 1 Hectare 47,590
Between 1-2 Hectares 29,090
Above 10 Hectares 2444
2) Cultivators:
 Male – 8992
 Female – 11,324
3) Agricultural Labourers:
 Male – 39,902
 Female – 60,168
4) Workers in Household Industry:
 Male – 6084
 Female – 4524
5) Other Workers:
 Male – 28724
 Female – 8394
6) No. Of Households Availing Banking Services: 5356

60%12%
6%
22%
CUSTOMER SEGMENTS
Farmers &
Agricultural
labourers
Cultivators
Workers in
Household
Industry
97%
3%
CUSTOMER SEGMENTS
Total Population
No. Of people
availing banking
services in
Pathalgaon

PRIVATE & PUBLIC BANKS
There is no ICICI branch in Pathalgaon. The nearest branch of ICICI is in Dharamjaigarh which is
34 km away from Pathalgaon.
There are total 7 banks in Pathalgaon. Out of 7, 4 of them are Public Bank and rest 3 are Private
Banks. They are:
 Public Bank: There are 4 Public Banks in Pathalgaon.
1) State Bank of India:
 General Description:
IFSC Code SBIN0010837
MICR Code 496002102
Address Po Pathalgaon, Tehsil Kunkuri, Dist Jashpur
Nagar, Chhattisgarh
Branch Code 010837
 Various Interest Rates of SBI:
 Savings Account:
B/C INTEREST (w.e.f. 31st May 2020)
Saving deposit b/c upto Rs. 1 lakh 2.70% p.a.
Saving deposit above Rs. 1 lakh 2.70% p.a.
 Current Account:
Personal Banking Branch Rs. 10,000
Nonrural Rs. 5000
Rural Rs. 2500
 Loan Interest (w.e.f 01.05.2020):
i. Home loan – 7.35% p.a.
ii. Gold loan – 7.50% p.a.
iii. Personal loan – 9.60% p.a.
iv. Education loan – 9.30% p.a. (T&C apply)
v. Auto loan – 7.75% p.a. (on applying through YONO; 8.00% p.a.)

 Fixed Deposit Interest Rate:
TENURE RATES FOR PUBLIC (w.e.f
from 27.05.2020)
RATES FOR SENIOR
CITIZENS (w.e.f from
27.05.2020)
7 to 45 days 2.90% 3.40%
46 to 179 days 3.90% 4.40%
180 to 210 days 4.40% 4.90%
211 days to less than 1
year
4.40% 4.90%
1 to less than 2 year 5.10% 5.60%
2 to less than 3 years 5.10% 5.60%
3 to less than 5 years 5.30% 5.80%
5 years and upto 10 years 5.40% 6.20%
 Recurring Deposit Interest Rate:
TENURE RATES FOR PUBLIC RATES FOR SENIOR
CITIZENS
1 year to 1 year 364 days 5.50% 6.00%
2 years to 2 years 364 days 5.50% 6.00%
5 years to 10 years 5.70% 6.50%
 Credit Card Charges:
SBI CREDIT CARD VARIANTS ANNUAL FEE
SimplyCLICK SBI Card Rs. 499
SimplySAVE SBI Card Rs. 499
Yatra SBI Card Rs. 499
FBB SBI STYLEUP Card Rs. 499
BPCL SBI Card Rs. 499
IRCTC SBI Platinum Card Rs. 500
 Debit Card Charges:
SBI DEBIT CARD VARIANTS ANNUAL FEE
SBI classic Debit Card Rs. 125+GST
SBI Silver International Debit Card Rs. 150+GST
SBI Global International Debit Card Rs. 175+GST
SBI Gold International Debit Card Rs. 175+GST
SBI Platinum International Debit Card Rs. 250+GST

SBI Mumbai Metro Combo Card Rs. 175 + GST
sbiNTOUCH Tap & Go Debit Card Rs. 175 + GST
 NEFT Charges:
NEFT BRANCH CHANNEL ONLINE CHANNEL
Upto Rs. 10,000 Rs. 2.00+GST NIL
Upto Rs. 10,001 to Rs. 1
lakh
Rs. 4.00+GST NIL
Above Rs. 1 lakh upto Rs.
2 lakh
Rs. 12.00+GST NIL
Above Rs. 2 lakh Rs. 20.00+GST NIL
 RTGS Charges:
RTGS BRANCH CHANNEL ONLINE CHANNEL
Rs. 2 lakh to Rs. 5 lakh Rs. 20.00+GST NIL
Above Rs. 2 lakh Rs. 40.00+GST NIL
 DEMAT ACCOUNT OPENING CHARGES:
CHARGES AMOUNT
Demat account opening charges Rs. 100
Maintenance charges for Demat account Rs. 400
2) Bank of Baroda:
IFSC Code BARBOPATHAL
MICR Code 496012501
Address Nr Durga Mandir, Ambikapur Road,
Pathalgaon
Branch Code PATHAL
 Various Interest Rates of Bank of Baroda:
B/C INTEREST (w.e.f. 01.06.2020)

Baroda Small Business Current Account Quarterly Average Balance of Rs. 2500
Baroda Premium Current Account Quarterly Average Balance of Rs. 75000
Baroda Advantage Current Account Quarterly Average Balance; Rural-Rs. 2000,
Semi-Urban-Rs. 2000, Urban-Metro-Rs.
10000
Baroda Premium Current Account
Privilege
Quarterly Average Balance Rs. 2.5 lakh
 Loan Interest:
i. Home loan – 8.65% p.a.
ii. Gold loan – 1-year MCLR + Strategic Premium + 3.00%
iii. Personal loan – 10.50% to 16.15% p.a.
iv. Education loan – Range of 8.40% and 10.40%
v. Auto loan – Starts at 8.90% depending upon down payment, net income and
other factors
CITIZENS
7 to 14days 4.50% 5.00%
15 to 45 days 4.50% 5.00%
46 to 90 days 4.75% 5.25%
91 to 180 days 5.50% 6.00%
181 to 270 days 5.90% 6.40%
271 to 364 days 5.90% 6.40%
1 year 6.25% 6.75%
2 years 1 day-3 years 6.25% 6.75%
3 years 1 day-5 years 6.25% 6.75%
5 years 1 day-10 years 6.25% 6.75%
CITIZENS
180 days 4.50% 5.00%
181 to 270 days 5.00% 5.50%
271 to 364 days 5.00% 5.50%
1 year 5.70% 6.20%

1 year 1 day to 400 days 5.70% 6.20%
401 days to 3 years 5.70% 6.20%
3 years 1 day to 3 years 5.70% 6.20%
BANK OF BARODA CREDIT CARD
VARIANTS
ANNUAL FEE
Bank of Baroda Premier Credit Card Rs. 1000
Bank of Baroda Select Credit Card Rs. 750
Bank of Baroda Easy Credit Card Rs. 500
Bank of Baroda Prime Credit Card NIL
Notably, there are no charges on PMJDY card variants. For holding a debit
card, the first year is free. However, after that, there is an annual fee of Rs.
150 per annum. In case of card replaces due to loss or damage, Bank of
Baroda charges a customer with Rs. 200 per replacement
 NEFT Charges:
NEFT CHARGES
Upto Rs. 1 lakh NIL
Above Rs. 1 lakh-Rs. 2 lakh Rs. 15 per transaction
Above Rs. 2 lakh Rs. 25 per transaction
 RTGS Charges (according to bank’s website):
RTGS CHARGES
Above Rs. 5 lakh Rs. 50 per transaction (between 8:00 am and
11:00 am)
Above Rs. 5 lakh Rs. 52 per transaction (between 11:am and
1:00 pm)
Above Rs. 5 lakh Rs. 55 per transaction (after 1:00 pm)

CHARGES AMOUNT
Demat account opening charges NIL
Maintenance charges for Demat account
For Individuals – First year free for new
accounts
From second year onwards Rs. 500 p.a.+
GST
For Non-individual – Rs. 700 + GST
3) Punjab National Bank:
IFSC Code PUNB0724700
MICR Code 496024508
Address In Front of BSNL Office Jashpur Road
Branch Code 724700
 Various Interest Rates of PNB:
B/C INTEREST
PNB Silver Quarterly Average Balance of Rs. 1,00,000
PNB Platinum Quarterly Average Balance of Rs. 10,00,000
 Loan Interest:
i. Home loan- Starts at 7.20% and 7.15% p.a. for female borrower.
ii. Gold loan – Starts from 10.05% to 11.05%
iii. Personal loan-Starts from 11.50% to 12.05%
iv. Education loan-Starts from 10.45% for courses in India and 8.95% for
IIT, IIM, ISB courses
v. Auto loan-8.75% for new car and 11.20% for used car

CITIZENS
7 to 14days 3.25% 3.75%
15 to 29 days 3.25% 3.75%
30 to 45 days 3.25% 3.75%
46 to 90 days 3.25% 3.75%
91 to 179 days 4.00% 4.50%
CITIZENS
180 to 270 days 6.75% 7.25%
271 to 364 days 6.75% 7.25%
1 year 7.00% 7.50%
1 year 1 day to 2 years 6.90% 7.40%
PNB CREDIT CARD VARIANTS ANNUAL FEE
The PNB Global Platinum Credit Card Rs. 500
The PNB Global Gold Card NIL
The PNB Global Classic Credit Card NIL
PNB DEBIT CARD VARIANTS ANNUAL FEE
Debit Card (from 2nd year) Rs. 100 + GST
Business Debit Card (from 2nd year) Rs. 200 + GST
 NEFT Charges:
NEFT CHARGES
Above Rs. 10,000 to Rs. 1,00,000 Rs. 5.00 + GST
Above Rs. 1,00,000 to Rs. 2,00,000 Rs. 15.00 + GST
Above Rs. 2,00,000 Rs. 25.00 + GST

 RTGS Charges (according to bank’s website):
RTGS CHARGES
Above Rs. 5 lakh Rs. 50 per transaction (between 8:00 am and
11:00 am)
Above Rs. 5 lakh Rs. 52 per transaction (between 11:am and
1:00 pm)
Above Rs. 5 lakh Rs. 55 per transaction (between 1:00 pm and
4:30 pm)
Above Rs. 5 lakh Rs. 55 per transaction (after 4:30 pm)
CHARGES AMOUNT
Maintenance charges for Demat account
For Individual Account Holder – Rs. 250 p.a.
From Senior Citizen- Rs. 115 p.a.
For PNB Staff – Rs. 115 p.a.
4) Central Bank of India:
IFSC Code CBIN0280801
MICR Code -
Address At – Post Pathalgaon, Dist – Jashpur
Branch Code 280801
 Various Interest Rates of CBI:
B/C INTEREST
Saving deposit b/c upto Rs. 10 lakh
(fixed)
3.00% p.a.
Saving deposit above Rs. 10 lakh
(Linked with Repo Rate)
2.75% p.a.

CURRENT
ACCOUNTS
MINIMUM BALANCE (On Quarterly Average Balance Basis)
RURAL SEMI-URBAN URBAN METRO
Normal Current
Account
Rs. 3000 Rs. 3000 Rs. 5000 Rs. 7000
Cent Silver Current
Account
Rs. 50,000 Rs. 50,000 Rs. 50,000 Rs. 50,000
Cent Gold Current
Account
Rs. 2 lakhs Rs. 2 lakhs Rs. 2 lakhs Rs. 2 lakhs
Cent Diamond
Current Account
Cent Samvridhi
Current Account
 Loan Interest:
i. Home loan – 7.25% to 7.35%
ii. Gold loan – 1 year MCLR + 2%
iii. Personal loan – 11.55% p.a.
iv. Education loan –
Courses in India: 10.60% (boys); 10.10% (girls)
IIT, IIM, ISB Courses: 10.10% (boys); 10.10% (girls)
v. Auto loan – 9.25%
CITIZENS
7 to 14days 3.40% 3.90%
15 to 30 days 3.40% 3.90%
31 to 45 days 3.40% 3.90%
46 to 59 days 3.90% 4.40%
60 to 90 days 3.90% 4.40%
91 to 179 days 4.55% 5.05%
180 to 270 days 4.80% 5.30%
271 to 364 days 4.80% 5.30%
1 year to 1 year 364 days 5.35% 5.85%
5 years to 10 years 5.35% 5.85%

CITIZENS
180 to 269 days 6.35% 6.85%
270 to 364 days 6.40% 6.90%
1 year 1 day to 1 year 364 days 7.00% 7.50%
5 years to 10 years 6.20% 6.70%
CBI CREDIT CARD VARIANTS ANNUAL FEE
Visa Platinum Credit Card NIL
Visa Aspire Credit Card NIL
Titanium Credit Card NIL
MasterCard World Credit Card 500
RuPay Platinum Credit Card NIL
RuPay Select Credit Card 500
CBI DEBIT CARD VARIANTS ANNUAL FEE
Shopping cum Debit Card Applicable from second year
Wonder Card Applicable from second year
RuPay Debit Card NIL
Platinum Debit Card As applicable
nexGen Debit Card NIL
 NEFT Charges:
NEFT CHARGES
Till Rs. 10,000 Rs. 2.50
Above Rs. 10,000 to Rs. 1 lakh Rs. 5
Above Rs. 1 lakh and upto Rs. 2 lakh Rs. 15
Above Rs. 2 lakh Rs. 25

 RTGS Charges:
RTGS BRANCH CHANNEL
Rs. 2 lakh to Rs. 5 lakh Rs. 30.00 per transaction
Above Rs. 5 lakh Rs. 55.00 per transaction
CHARGES AMOUNT
Maintenance charges for Demat account Rs. 200 per annum
 Private Bank: There are 3 Private Banks in Pathalgaon.
1) HDFC Bank:
IFSC Code HDFC0002425
MICR Code 496240501
Address Near SBI, Raigarh Road
Branch Code 002425
 Various Interest Rates of HDFC:
B/C INTEREST
Saving deposit b/c below Rs. 50 lakh 3.50% p.a.
Saving deposit balance of Rs. 50 lakh
and above
4.00% p.a.
Regular Current Account Rs. 10,000 per quarter
Premium Current Account Rs. 25,000 per quarter
Trade Current Account Rs. 40,000 per quarter
Flexi Current Account Rs. 75,000 per quarter
 Loan Interest:
i. Home loan – Starts at 7.35% p.a.
ii. Gold loan – 10.05% to 17.95%

iii. Personal loan – 10.99% to 20.00%
iv. Education loan – Upto 14.1%
v. Auto loan – 9.25%
CITIZENS
7 to 14days 3.50% 4.00%
15 to 29 days 4.00% 4.50%
30 to 45 days 4.90% 5.40%
46 to 90 days 5.40% 5.90%
91 days to 6 months 5.40% 5.90%
6 months 1 day to 9 months 5.80% 6.30%
9 months 1 day to 1 year 6.05% 6.55%
1 year 6.30% 6.80%
CITIZENS
6 months 4.50% 5.00%
9 months 5.00% 5.50%
12 months 5.60% 6.10%
15 months 5.60% 6.10%
24 months 5.60% 6.10%
27 months 5.75% 6.25%
36 months 5.75% 6.25%
39 months 5.75% 6.25%
48 months 5.75% 6.25%
60 months 5.75% 6.25%
90 months 5.75% 6.25%
120 months 5.75% 6.25%

HDFC CREDIT CARD VARIANTS ANNUAL FEE
HDFC Bank Regalia First Card Rs. 1000
HDFC Bank Diners Club Black Card Rs. 5000
HDFC Bank Regalia Card Rs. 2500
HDFC Freedom Credit Card Rs. 500
HDFC Bank Money Back Credit Card Rs. 500
HDFC Bank Titanium Times Card Rs. 500
HDFC bank Diners Club Miles Card Rs. 1000
HDFC bank Platinum Times Card Rs. 1000
Jet Privilege HDFC bank Diners Club Rs. 5000
HDFC DEBIT CARD VARIANTS ANNUAL FEE
Jet Privilege HDFC Bank World Debit Card Rs. 500
Platinum Debit Card Rs. 750
Times Points Debit Card Rs. 650
Rewards Debit Card Rs. 500
Titanium Royale debit Card Rs. 400
Titanium Debit Card Rs. 250
EasyShop Debit Card Rs. 150
Business Debit Card Rs. 250
Woman’s Advantage Debit Card Rs. 150
NRO Debit Card Rs. 150
Gold Debit Card Rs. 750
Pro-Gold Debit Card Rs. 250
 NEFT Charges:
NEFT CHARGES ONLINE CHANNEL
Till Rs. 10,000 Rs. 2.50 Free of Cost
Above Rs. 10,000 to Rs. 1
lakh
Rs. 5 Free of Cost
Above Rs. 1 lakh and upto
Rs. 2 lakh
Rs. 15 Free of Cost
Above Rs. 2 lakh to Rs. 25
lakh
Rs. 25 Free of cost

 RTGS Charges:
RTGS BRANCH CHANNEL ONLINE CHANNEL
Rs. 2 lakh to Rs. 5 lakh Rs. 25.00 Free of Cost
Above Rs. 5 lakh Rs. 50.00 Free of Cost
CHARGES AMOUNT
2) IDBI Bank:
IFSC Code IBKL0002062
MICR Code 496259101
Address Plot No.-1093 4a, Ward No.-14, Jashpur
Road
Branch Code 002062
 Various Interest Rates of IDBI:
B/C INTEREST
Saving deposit b/c upto Rs. 25 lakh 3.30%
Saving deposit balance above Rs. 25
lakh
3.80%
CURRENT ACCOUNTS MINIMUM BALANCE
METRO/U
RBAN
SEMI-URBAN RURAL RURAL FI
Flexi Current Account Rs. 10,000 Rs. 5000 Rs. 1000 NIL
Start-Up Current Account Rs. 1000 Rs. 500 NIL NIL
Cash Current Account From Rs. 25,000 upto Rs. 1,00,000
Corporate Flexi Current
Account
Rs. 10,000 Rs. 5000 - -
Co-operative Bank Current
Account
Rs. 10,000

 Loan Interest:
i. Home loan – 7.80% onwards
ii. Personal loan – 12.00% to 13.50%
iii. Education loan – 9.50%
iv. Auto loan – 9.30%
CITIZENS
7 to 14days 3.00% 3.50%
15 to 30 days 3.75% 4.25%
31 to 45 days 3.75% 4.25%
46 to 60 days 4.60% 5.10%
61 to 90 days 4.60% 5.10%
91 days to 6 months 4.75% 5.25%
6 months 1 day to 270 days 5.00% 5.50%
271 days upto < 1 year 5.25% 5.75%
1 year 5.70% 6.20%
> 1 year to 2 years 5.75% 6.25%
> 2 years to < 3 years 5.70% 6.20%
3 years to < 5 years 5.70% 6.30%
5 years 5.80% 6.40%
>5 years to 7 years 5.70% 6.30%
>7years to 10 years 5.70% 6.20%
>10 years to 20 years 5.50% 6.00%
CITIZENS
1 year 5.85% 6.35%
5 years 5.90% 6.40%

IDBI CREDIT CARD VARIANTS ANNUAL FEE
IDBI Royale Signature Rs. 1499
IDBI Aspire Platinum Rs. 499
IDBI Euphoria World Rs. 1499
IDBI Winnings Rs. 899
IDBI DEBIT CARD VARIANTS ANNUAL FEE
Signature Debit Card -
Platinum Debit Card -
Gold Debit Card Rs. 220
Classic Debit Card -
Women’s Debit Card -
Being Me Debit Card -
Kids Debit Card -
Contactless Debit Card -
RuPay Platinum Debit Card -
 NEFT Charges:
NEFT CHARGES
Till Rs. 10,000 NIL
Above Rs. 10,000 to Rs. 1 lakh Rs. 5 per transaction
Above Rs. 1 lakh and upto Rs. 2 lakh Rs. 15 per transaction
 RTGS Charges:
RTGS BRANCH CHANNEL
Rs. 2 lakh to Rs. 5 lakh Rs. 30 per transaction
CHARGES AMOUNT
Opening Charges NIL

3) Axis Bank:
IFSC Code UTIB0004416
MICR Code -
Address G.S. Complex, Raigarh Road, Opposite to
LIC Building
Branch Code 004416
 Various Interest Rates of Axis:
B/C INTEREST
Saving deposit b/c less than Rs. 50lakh 3.50% p.a.
Saving deposit balance upto Rs. 50 lakh
to less than Rs. 100 crore
4.00% p.a.
Savings deposit balance upto Rs. 100
crore and above
6.00% p.a.
Normal Rs. 10,000
Advantage Rs. 25,000
Select Rs. 50,000
Business Classic Rs. 1,00,000
Business Privilege Rs. 5,00,000
Channel One Rs. 10,00,000
Club 50 Rs. 50,00,000 (Qtly Balance)
*For Semi and Rural Branches MAB is 50%.
 Loan Interest:
i. Home loan – Starts from 8.10%
ii. Gold loan – 9.75% to 17.00%
iii. Personal loan – 10.99% to 16.99%
iv. Education loan –
For Boys: Loans from Rs. 4 lakh upto Rs. 7.5 lakhs (Base Rate
+ 8%)
Loans greater than Rs. 7.5 lakhs (Base Rate + 6%)

A PROJECT REPORT ON LEVERAGING DIGITAL CHANNELS FOR ENHANCING CUSTOMER EXPERIENCE AND ANALYSIS OF MICROMARKET

A PROJECT REPORT ON LEVERAGING DIGITAL CHANNELS FOR ENHANCING CUSTOMER EXPERIENCE AND ANALYSIS OF MICROMARKET

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A PROJECT REPORT ON LEVERAGING DIGITAL CHANNELS FOR ENHANCING CUSTOMER EXPERIENCE AND ANALYSIS OF MICROMARKET