ICICI INTERNSHIP REPORT

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SUMMER INTERNSHIP_2022
SIP PROJECT Report
On
VRM call analysis for quality check and feedback to RM/BM – what went well, what went
wrong
Submitted By:
Swapnil Anand (21113)
RETAIL BANKING GROUP
Submitted in partial fulfillment of the requirement of
Summer Internship Program
Under the Guidance of
Mr. Asif Masood
And
Mr. Dhananjay Sinha
ICICI Bank
&
Dr Sunil MV
SDMIMD, Mysore
Shri Dharmasthala Manjunatheshwara
Institute for Management DevelopmentNo. 1, Chamundi Hill Rd, Siddhartha Layout,
Mysuru, Karnataka 570011

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CERTIFICATE BY THE FACULTY GUIDE
SDM INSTITUTE FOR MANAGEMENT DEVELOPMENT,MYSORE
This is to certify that Roll No 21113 Mr. Swapnil Anand
of PGDM Batch 2020-22 has satisfactorily completed Summer Internship Project
titled towards VRM call analysis for quality check and feedback to RM/BM – what
went well, what went wrong M/S ICIC Bank located at Patna from 05-04-22 to
2-06-22 partially fulfilled the requirements of the PGDM program under my
guidance.
Signature: Date:
Name:
Designation:
SDM Institute for ManagementDevelopment, Mysore
Institutional Stamp

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Executive summary
The successful completion of this project was a one-of-a-kind experience since I understood
banking and the VRM system in the ICICI bank and how the VRM system helps
Relationship managers to connect with their customers virtually by connecting with diverse
individuals and learning about their experiences on ICICI VRM system. The study also let
me know what ICICI customers thought about the bank by soliciting input on various
products and services and digital platforms.
This project also taught me about the advantages of digitizing banking services, as well as
ICICI's motivation to connect with their customers and build stronger relationships with
them, as well as ICICI's initiative of one bank, one number, which helps banks to maintain
their customer relationships.
This assignment provided me with valuable experience at a critical juncture. The research
allowed me
to demonstrate my talents and expertise while executing numerous activities.

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ACKNOWLEDGEMENT
I thank ICICI Bank, for providing me the corporate exposure through the virtual platform
and as well as physical during the time of the pandemic. I am extremely thankful to the
company for giving me the opportunity to do this project with their esteemed organization
for two months during my summer internship. It waschallenging yet filled with a rich
learning experience.
I take this opportunity to express my profound gratitude and sincere regards to Asif
Masood and Dhananjay Sinha, for their excellent guidance, monitoring, and constant
encouragement throughout the work.
The two months of Internship at ICIC Bank taught me some valuable lessons. It has
helped me in shaping the way for my professional career and making me stronger in my
approach. I also thank my fellow interns at ICIC with whom I was involved in the learning
process, and together, we completed our internship.
I thank my faculty guide, DR Sunil M.V, for being there always to support me andguide
me whenever required. His continuous support during the period of my internship helped m
e
with the successful completion of my Summer Internship Program

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Table of Contents
INTRODUCTION............................................... Error! Bookmark notdefined.
SECTION 1: SITUATIONAL ANALYSIS........... Error! Bookmark notdefined.
SECTION 2: RESEARCH METHODOLOGY ..... Error! Bookmark notdefined.
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RECOMMENDATIONS ..................................... Error! Bookmark notdefined.
LIMITATIONS ................................................... Error! Bookmark notdefined.
CONCLUSION................................................... Error! Bookmark notdefined.
BIBLIOGRAPHY................................................ Error! Bookmark notdefined.

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1.1 About the company
ICICI BANK
ICICI Bank (BSE: 532174, NYSE: IBN) is India's leading banking and financial services
company (formerly Industrial Credit and Investment Corporation of India). is the fourth largest
bank in the Republic of India with market capitalization and therefore the largest non-public
bank in India. The bank has at least one branch, 700 and 4721 ATMs in the Republic of India
and nineteen countries.
ICICI Bank provides a wide range of banking assets and financial services to companies and
individual clients within the investment bank, health insurance, real estate, operating finance, and
asset management sectors by distributing distribution channels to specialized subsidiaries and
affiliates. (This is power-generated information.) ICICI Bank is additionally the most important
MasterCard institution in the Republic of India. The shares of ICICI Bank are on the city list
with Bandar, the metropolis Stock Exchanges, hence the National exchange of the Republic of
India, and ADR is on the big apple Exchange (NYSE) list. The bank is located outside the
Republic of India and has the most important history in the world than any other Indian bank. In
addition, in the offshore metropolis region, ICICI Bank has sub-companies, branches, and
representative offices in nineteen countries. These include companies under the auspices of
North America, Russia, and therefore the state (which uses the form of savings Hi SAVE),
maritime banks in Bahrain and Singapore, city communications offices, and offices and offices
representing the European country, Hong Kong, and Ceylon. Bangladesh. including. China,
Malaysia, Indonesia, South Africa, Thailand, and the United Arab Emirates. the first target of the
Planet Bank in the Republic of India is the Indian Resident Community (NRI). ICICI Bank is
one of the four largest banks in the Republic of India | in partnership with India's largest
competing banking company, Axis Bank, and HDFC Bank. The Indian Industrial Credit
Investment Corporation (ICICI) was founded in 1955 under the leadership of Planet Bank, the
government. of the Republic of India, and representatives of Indian business for the purpose of
establishing a medium to the long-term financial institution. Financial project for Indian
companies. The banking association was established in 1994 by ICICI as a subsidiary of banks.
ICIC Bank overview:
The bank based in Mumbai has approximately 1,400 branches and four ATMs, 530 in the
Republic of India, in addition to being located in eighteen countries. Through its specialized
subsidiaries and affiliates in the areas of banking investing, life and health insurance, operating
costs, and quality management, it offers a wide variety of banking products and financial
services to companies and clients. The bank has branches for us, Singapore, Bahrain, Hong
Kong, Sri Lanka, Qatar, and Dubai, moreover as subsidiaries of the UK, Russia, and Canada.
Channels:
ICICI Bank has the following channels offering its products and services to its customers.

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• Branches
• ATMs
• Internet Banking
• Mobile Banking
• Phone Banking
Products and Services:
Deposits, Loans, Cards, Investments, Insurance, De-mat, NRI Services, and Online Services are
just a few of the products and services that ICICI Bank provides to its customers.
Deposits:
• Following deposits are offered:
• Savings Account
• Advantage Deposit
• Special Savings Account
• Life Plus Senior Citizens Savings Account
• Fixed Deposits
• Security Deposits
• Recurring Deposits
• Tax-Saver Fixed Deposit
• Young Stars Savings Account
• Child Education Plan
• Bank @ Campus
• Salary Account
• Advantage Woman Savings Account
• EEFC Account
• Resident Foreign Currency (Domestic) Account
• Privilege Banking No Frills Account
• Rural Savings Account
Loans:
ICICI Bank offers the following loan facilities:
• Home Loans
• Loan Against Property
• Personal Loans
• Car Loans
• Two-Wheeler Loans
• Commercial Vehicle Loans
• Loans Against Securities
• Loan Against Gold Ornaments

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• Pre-approved Loans
Cards:
ICICI Bank is India's largest issuer of credit cards. It also offers other types of cards.
The various cards offered by ICICI bank are as below:
• Consumer Cards
• Credit Cards
• Travel Cards
• Debit Card
• Commercial Cards
• Corporate Cards
• Prepaid Cards
• Purchase Cards
Investments:
• ICICI Bank facilitates a range of investment products including ICICI Bank Tax Saving
Bonds
• Mutual Funds
• Government of India Bonds
• Initial Public Offers (IPO) by Corporates
• Foreign Exchange Services
• ICICI Bank Pure Gold Senior Citizens Savings Scheme, 2004
1.2 VRM System Industry Overview
The Customer is King! This credo is extra powerful, relevant, and authentic these days than it
has ever been. In a without a doubt purchaser-pushed economy, a company`s capacity to fulfill
all its clients' merchandise and provider wishes 24 hours a day, seven days every week is critical.
Virtual Relationship Management (VRM) is the manner of obtaining, retaining, and obtaining
new clients in a digital environment. VRM is one of the most up-to-date and maximum talked-
subjects withinside the enterprise these days, and with top reason. It allows banks to talk with
their clients over the internet, letting them shape sturdy bonds with them for the duration of a
disaster like COVID. The purpose of VRM is to construct long-time period enterprise
relationships together with your clients. All of that is modified via way of means of VRM, which
represents a persevering evolution in the front workplace operations control. Traditional income,
advertising and marketing, and customer support programs are consolidated right into a unified
system able to manage the whole purchaser existence cycle with VRM. This technique gives on
the spot get admission to a whole profile of essential purchaser facts to personnel throughout an
organization. Organizations that enforce VRM answers are assured that giving their income and
assisting the body of workers to get admission to this degree of records will assist them higher

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recognize their clients' wishes and shopping for patterns. VRM is a time used withinside the facts
enterprise to explain methodologies, software, and, in maximum cases, Internet competencies
that resource withinside the control of purchaser relationships. VRM is at the coronary heart of
any purchaser-centric enterprise method, and it encompasses the people, techniques, and
generation troubles that stand up in advertising and marketing, income, and provider. In the
modern-day hypercompetitive world, agencies that need to enforce successful VRM techniques
ought to be cognizant of growing a not unusual place view of the purchaser via incorporated
facts structures and phone middle implementations that permit clients to talk via any preferred
channel. What precisely does Virtual Relationship Management entail? If you ask a dozen
experts, you may get a dozen special answers. Here's a brief rundown:
VRM is used to advantage higher information about your key clients' wishes so you can
construct a more potent dating with them.
Virtual Relationship Management may be described as a company's sports associated with
obtaining new clients and assembling the wishes of present clients so one can develop its
purchaser base.
VRM is all approximately forming relationships together along with your clients. It uses inner
income, customer support, and advertising and marketing techniques. The VRM philosophy
acknowledges that long-time period purchaser relationships may be one in every of an
organization's maximum treasured assets, imparting an aggressive benefit and multiplied
profitability. The "purchaser cognizance" is the maximum essential factor of VRM.
VRM builds a relationship that will increase income margins and productiveness via way of
means of combining generation, strategic planning, and private advertising and marketing
techniques. It employs an enterprise method that prioritizes the purchaser in all a company's
techniques and procedures. To assist powerful income, advertising and marketing, customer
support, and order fulfillment, this purchaser-centered enterprise philosophy is required.
Businesses have started to apprehend the fee and significance of purchaser retention, regardless
of
1.3 VRM'S SYSTEM APPEARANCE IN ICICI BANK
ICICI Bank`s VRM initiatives help to keep the bank's appealing growth story together. Its
consumer base, distribution networks, and product and service offerings have all grown. VRM
has helped ICICI interact with its customers in a better way and strengthen its relationships with
them to a huge degree since its beginning in the year 2020. The bank envisions VRM to help
them achieve their sales, customer service, and analytics goals. Existing clients account for
approximately 30.40 percent of the bank's home loans. In the sale of insurance policies, similar

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ratios have been reported. The credit card and personal loan industries have experienced ratios of
around 50.60 percent. The bank has announced that it intends to raise these ratios to 60.75
percent. According to ICICI banks, these high-level relationships are done according to the
VRM system's ability to "know and better understand customers". Which consumers are most
ideal for products and when? The bank receives up to 150,000 requests from customers every
day in the service, causing the problem not only on channel capacity but also in a way that the
bank ensures that each request is recorded, recorded, and resolved. Finally, the customer analysis
has been used to help the bank decide to a strategy. Some ANT consuming campaigns, the
consuming target of customers who are not profitable, taxing of fees and many tactical initiatives
of customer segment are recent strategic movements to do outstanding. The ability of ICIC Bank
VRM is based on data storage "Teradata” integrates data from various sources, including Oracle
databases and flat files. Users can access each customer's check, time deposit, credit card and
other financial account information by using the system. SAS for Business Intelligence provides
a reliable integrated analytics approach, including data discovery, data filtering, data preparation,
event detection, reporting, business intelligence, and strategic analysis translation applied by the
bank .at ICICI BANK
Increased communication between the bank and its current and prospective customers is part of
ICICI Bank's VRM strategy. Its philosophy is centered on ensuring that each consumer is
satisfied. VRM made it easier to coordinate numerous corporate operations and multiple
channels of communication with customers, allowing for more efficient customer management.
It also helped provide customized reports and boost cross-selling by automating the process flow
tracking in the product sales process. At ICICI, the following are typical components of a VRM
strategy:

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1. Deliver increased value
to customer.
2. Interact with customers
.
1. Acquire customers.
2. Retain valuable
customers.
1. Customize by customer
segment.
2. Develop product,
services, channel to
meet the customer
needs.
1. Understand customer
need.
2. Differentiate based on
different needs,
behavior and
characteristics.

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1.5 Benefits of VRM System in ICICI bank
Awareness and Distinguishing:
Understanding the customer is important for building a strong relationship with the customer.
Customer profiling is used to learn more about customer demographics, buying habits, and
priority channels. VRM also helped ICICI determine customer profitability and customer
lifetime value.
Development and Adaptation:
Products and processes must meet the needs and preferences of customers in a customer-centric
business world. ICICI has always put a strong emphasis on channel development to provide
services that meet customer needs and expectations.
Interactions and Offerings:
ICICI has made relevant and actionable customer information easily accessible to all areas of the
bank to foster strong customer relationships. Employees customize both their customers and their
potential customer value using customer information.
Acquisition and Retention:
VRM has made it easier for ICICI to identify important clients and establish customer retention
strategies. It also aided us in anticipating and reacting to changes in our customers’ lifecycles.

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1.6 Creation of VRM System in ICICI bank
A look at the stairwells within the VRM system:
1. Creating VRM aspirations.
2. Providing education to various departments.
3. Compiling client information.
4 Designing the information model.
5 Vendor research.
6. Choosing a VRM solution
7. Assigning authority and accountability.
8 Pilot projects.
9. Direct mail, e-mail, and other forms of communication with clients
10 Customer surveys are number ten.
11. Compilation of client data.
12. Employees are given client statistics.
13. Client statistics are used within the company's operations.
14. Provide feedback.
15. Examine.
16. Creating documentation for a brand-new system.
1.7 PURPOSE OF VRM SYSTEM:
 The goal of Virtual relationship management is to improve marketing efficiency.
 To Reduce sales costs, streamline order processing, or improve marketing effectiveness.
 Bank incentive for one bank one number helps ICICI bank to retain its customer whenever
RM switch jobs and join another bank he did not able to take their customer base with them
and customer retain with ICICI also it’s assured customer whenever they receive a call from
VRM system and see the number it’s assured them that call has been done from the ICICI
bank and it is not a fraud call

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 To Increase customer loyalty and retention, personalize market offers, and more.
The VRM system is the most influential client-centered approach. Despite its humble
beginnings, it has quickly evolved into an overly complex approach. Focus, dedication to VRM
dreams, and, most importantly, a decision to be client-focused are all requirements of a VRM
software.
1.8 VRM System Interface in ICICI Bank
Front login page of VRM system
VRM can access the VRM system from the front login page, which allows them to provide better
experiences to their mapped customers and inform them of new and exciting products. This is the
first step for VRM to connect with their mapped customers and build long-term relationships
with them.
Dashboard
The first thing VRMs see when they log into the VRM system is a dashboard. On the dashboard,
VRMs can see their mapped customers with whom they must interact by calling.

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VRM can search their mapped customers by mobile number, credit card number, and loan
account number using the search bar on the dashboard's upper right.
VRM can see no calling they have done to their mapped customer assigned on a particular day
and no call they have done in a month under my availability option on the right upper side of the
dashboard.
VRM can access stock indices, mutual funds, and the latest news option on the dashboard's lower
side.
Calendar
The second option in the VRM system that a VRM can access after the dashboard is a calendar.
In the calendar, a VRM can track no days and assign a reminder or events.

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Work Board –
The third option in the VRM system is a work board where VRM can see and maintain the last 7
days of opportunity gained from the customer
leaderboard –

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The leader board is the fourth option in the VRM system. With the leader board, VRMs can
access cumulative operating income and see how much wealth a VRM has generated in lakhs.
My customers
The fifth and last option in the VRM dashboard is my customers the my customer cotains the
following things
a) total no of mapped customer
b) total relationship value – ex liability home loan and assets of mapped customer also
c) total deposit
d) total assets - The total assets of each VRM are equal to the total number of clients assigned to
him /her.
e) total AUM – Ex FD, ACCOUNT BALANCE
g) NPS (NET PROMOTER SCORE)- The score shows that how satisfied the customer is with
VRM, varies according to customer satisfaction
h) Profitability - HOW much revenue client generate for the bank
I) active client - how many calls VRM has called

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The VRM system can be downloaded to a mobile phone, allowing Virtual RM to connect with
their mapped customer whenever they need it.

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1.9 Virtual Relationship Manager
The Virtual Relationship Manager in ICICI is responsible for the bank's cross-selling (asset)
business by acting as a one-stop -shop for the client's banking needs and identifying new
business prospects for existing clients. Outbound Contact Center Virtual RM is responsible for
marketing credit products and services to consumers as needed via remote digital media such as
phone and email. They are also responsible for ensuring that requests are processed quickly and
efficiently to provide a great customer experience.
2.0 ICICI VRM provides three types of services to customers
Regular banking VRM - Regular Banker VRM will serve specific clients who have completed a
Rs 10,000 account opening at ICICI.
privilege banking - Customers who open ICICI bank accounts worth RS 50,000 are served by a
Privilege Banker.
Wealth Management - Wealth Manager VRM will take care of clients with a salary of 300,000
rupees
The basic products that VRM sells are credit cards, PF, life insurance, DD, Jewel loans, Mutual
Funds, Personal loans, vehicle loans, home loans, FD, SIP, FD against the loan, and Business
loan

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2.1 Job descriptions of VRM
Customer Engagement:
- Continuous engagement with portfolio customers mapped according to contact policy, with
accurate and complete interaction details captured.
- Handling calls in accordance with established procedures.
- Accurate customer service resolution
- Increasing the use of digital banking services to provide better customer service.
- Customer profiling to facilitate proper cross-servicing of Bank products
- Accurate complaint logging and resolution.
- Customer attrition management.
- Interacting with customers on a regular basis and anticipating their needs.
- Strengthening the relationship by cross-selling sticky products such as Demat, Bill Pay, and
Advisory, among others.
- Ensure that the portfolio quality of the relationship is maintained while racing, considering
eligibility.
- Keep an eye on large transactions and account closures in the deposit accounts.
- Ensure customer retention
Portfolio parameter achievement:
- The portfolio's defined objectives, as managed by the respective VRM, should be met by the
VRM.
Sales:
- Proper product cross-selling based on profiling and engagement.
- Product penetration across demographics.
- TPP, Assets, Cards, and other product segments sales
- Gathering and grouping all the Primary ID's related IDs. Gathering and grouping all of the
Primary ID's related IDs.
- Use of triggers to track FD maturity, CASA balance movement, and other outflows.
- Ensure that employees are well-versed in the product and have the necessary certifications.
- Revenue to be generated from customers.

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Quality of Interaction:
- Achieve quality benchmarks that are set from time to time.
- Accurate and comprehensive recording of call interactions, including profiling, to aid
relationship management.
Audit and Service Quality
- Ensure that all established systems and processes are followed in accordance with Audit and
Senior Management's directives.
- Ensure that financial transactions and requests are submitted accurately and on time.
- Following the established processes for updating customer interactions in VRM.
Customer Base Review /Reports:
- Ensure timely submission of Customer Base Review / Reports as requested by the Central
Team / Senior Management.
Interactions within the company
- Sales Managers for the products/locations in question
- VRM central team -
- Marketing Department -
- ATM Co-Ordinator
- CPU & Backend operation teams
- IT Department for system-related software/hardware issues
Interactions with the Outside
- Coordinate with the Post Office / Courier on issues relating to deliverables
- Vendor Representatives / Supervisors
- Insurance Sales Managers
- Representatives from Mutual Fund Houses.
VRM's main skills include:
- Bank Product Knowledge
- Ability to Plan and Organize
- Interpersonal Communication Skills
- Selling and persuasion abilities
- Interaction
- Competitor understanding
- Familiarity with banking regulations
- When necessary, credit knowledge
- An excellent administrator
The ability to make contacts in the community.

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CHAPTER 2
SITUATION ANALYSIS

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2.1 Segmentation, Targeting, and positioning
STP analysis of the market is the way a company positions its products and focus on its target
audience and communicates the benefits of products to them
In a nutshell, the STP marketing model means you segment your market, target select customer
segments with marketing campaigns tailored to their preferences and adjust your positioning
Segmentation
Under segmentation, we identify and profile distinct groups of buyers who differ in their needs
and wants. Some of the major segmentation variables are Geographic, Demographic,
Psychographic and Behavioral segmentation.

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1) Geographic segmentation
It divides the market into geographical units such as nations, states, regions, countries, cities, etc.
The company needs to pay attention to local variations. In that way, it can tailor marketing
programs to the needs and wants of local customer groups in those specific areas, neighborhoods,
etc. The VRM software can be used to pinpoint the geographic location of their customers and
can be known from where they are coming from and what type of banking products they need.
The services ICIC is providing are beneficial for both rural and urban.
2) Demographic segmentation
Some of the variables under this are age, family size, gender, income, occupation, education,
social class etc. They are very much associated with consumer needs and wants and they are also
easy to measure. With this, we can estimate the size of the market and it gives an idea as to
which media we should use to reach it efficiently.
In this project, I have used the variables such as Age, Occupation, and Education to segment the
customers and to get to know their needs and wants with respect to the service offered by the
ICICI.
Some of the demographic factors for ICICI are –
• Age: 21-70 years
• Gender: Unisex
• Annual Income: 3.0 Lakh -10 crore
• Education: Educated
• Occupation: Service sector, education sector, and business working
3) Psychographic segmentation
Buyers are divided into groups based on personality traits, lifestyle, or values. People within the
same demographic group can exhibit very different psychographic profiles. Here the common
divisions done are based on hobbies, opinions, lifestyle, and activities and interests.

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Market researchers typically segment customers based on psychographic segmentation on the
basis of 5 key factors – Social Status, Personality, Attitude, Lifestyle and AIO (Activities,
Interests and Opinions) (Psychographic Segmentation, n.d.)
Personality – Market researchers can do survey to segment people who have similar
personalities and create products or modify existing products to suit them.
Lifestyle – Different resources are required to make different types of products. But these
product resources can be conserved, and the products can be made in a more credible way if the
segmentation is done on the basis of lifestyle.
Social Status – Social status plays an important role in the decision-making process of any
individual. People will only buy products that they can afford and which they think are feasible
for them

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Attitude – People’s attitudes can be crucial in molding the individual. People who are opinioned
and have strong views on banking services
Interest – Here, we segment people on the basis of their requirements and their necessity.
4) Behavioralsegmentation
In this segmentation, the buyers are divided into groups based on their knowledge of, attitude
towards, likes/dislikes of, the use of, or response to a product, service, promotion, or brand. The
objective of behavioral segmentation is to understand the target audience, and their behavioral
traits like their needs and concerns and tailor our products and services through appropriate
marketing strategies and techniques to satisfy the customers.
Behavioral segmentation does not exist independently of the other types of segmentation.
Factors like age, occupation, gender, and location have a significant impact on the behavior of
people.
Usage-Based– Here, customers are mainly categorized into the requirement of customer service
and financial gain or transaction customers get in their account according to them banking
product is sold to customers
Priorities – Here, we target customers who prioritize ease of banking services like having a
credit card and personal RM who help them with banking services
Psychological Influences – There are many people who get easily influenced by the ease and
excellent banking services provided.
Purchasing Behavior – Here, we target repeat customers who prefer to opt for a particular type
of banking service or need. Like bank guarantee
Targeting
After segmentation, marketers square measure more and more combining many variables to spot
smaller, better-defined target teams. we will implement a needs-based market segmentation
approach. there's a seven-step approach.
1) Needs-based segmentation - cluster the shoppers into segments supported by similar
desires and edges wanted by customers in determining a specific downside.
2) Segment identification - everyone would like the area section to confirm that
demographics lifestyles and usage behaviors build this section distinct and specifiable.

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3) section attractiveness - victimization planned section attractiveness criteria confirm the
attractiveness of every section.
4) section gain – confirm section gain.
5) section positioning - for every section produce a price proposition and product-price
positioning strategy supported by that segment's distinctive client desires and characteristics.
6) section appraisal - produce a section storyboard to check the attractiveness of every segment's
positioning strategy.
7) promoting combine strategy - Expand section positioning strategy to incorporate all aspects of
the promoting mix: product, price, promotion, and place.
Positioning
The most effective strategy for branding products is to use emotional and rational appeal through
advertisements. For its offerings, ICICI employs value-based positioning strategies..
2.2 SWOT Analysis of ICICI Bank
Strengths
 ICICI is that the second-largest bank in terms of total assets and market share.
 ICICI has total assets of Rs. 40.623 billion and profit when tax of Rs. 5.151 billion, operative
in nineteen countries.
 According to money analysts, one in all ICICI Bank's greatest strengths is its sturdy and clear
record.
 In several banks and money services, ICICI Bank contains a pioneering advantage. ICICI
Bank was the first bank in India to supply comprehensive mobile banking services and
jewelry cards.
 The bank has 567 branches and 8003 ATMs throughout India.
 ICICI Bank is the initial bank in India to mix lifestyle advantages with banking services for
exclusive purchases and partnerships with trade leaders like Nakshatra, Asmi, and Dama.
 Customers are fascinated by ICICI Bank for its while and extra ATM services.
 Compared to different Indian banks, ICICI's promoting and promotion ways are intensive..

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Weaknesses
 Customer service within the ICICI section isn't operating well once it involves partitioning
complaints. ICICI Bank has received complaints from several Customers.
 ICICI Bank has the strictest policy concerning debt and loan collection and loan payments.
They rent a third-party company for recovery management.
 Customers have conjointly reportable being attacked and abused throughout recovery, and
loan payment reminders were sent well before the point in time, frustrating customers.
 Banking fees are considerably higher.
 ICICI's staff square measure beneath extreme stress thanks to management's aggressive
policy of staying prior to the competition. this will cut back productivity in the future
Opportunity
 In the consequent of 3 years, the producing sector is predicted to grow at a rate of
Revolutionary 17 %
 Saving in banks and investing in financial products is turning into a lot of well-liked in rural
areas, where sixty-two % of India`s population still lives.
 According to TOI information, India has over 1500 business faculties. this may guarantee a
gentle offer of qualified human resources within the money product and banking services
industries.
 ICICI Bank plans to open 1500 new branches over the consequent four years.
 ICICI Bank's money strength permits it to shop for tiny, indigent banks.
 Over the consequent few years, ICICI Bank's trustworthiness can increase by 2 hundredths.
 ICICI Bank has a quantity} amount of good assets.
Threats
 The RBI permits foreign banks to speculate up to seventy-four in Indian banks.
 State-owned banks square measure fraught to upgrade their capabilities to scale back the
number of consumers switching to new banks.
 HDFC is ICICI's main challenger, and new banks like AXIS and HSBC cause a significant
threat.
 Microfinance organizations have a powerful presence in rural areas.
 On the opposite hand, though the client acquisition rate is high, the quantity of discontent
customers is increasing, prompting the switch of banks.

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CHAPTER – 3
PROJECT METHODOLOGY

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2.3 Objectives of the Research-
To study the customer perception towards VRM calling and their experiences to know
whether customer like these experiences and interested in buying ICICI bank products
2.4 research questions are
1- Pitch in which VRM talk to you?
2- VRM is Customer Friendly?
3- VRM is helpful and solves your problem?
4- VRM gives enhanced detail about the benefits of using ICICI credit cards.?
5- VRM gives enhanced detail about the benefits of having FD in ICICI bank?
6- VRM gives enhanced detail about the benefits of having DD in ICICI banks.?
7- VRM gives enhanced detail about the benefits of taking ha ome loan from ICICI bank as
well as the application process?
8- VRM gives enhanced detail about the benefits of taking jewel loan/gold loan from ICICI
bank as well as the application process?
9- VRM gives enhanced detail about the benefits of taking auto loan from ICICI bank as well
as the application process?
10- VRM gives enhanced detail about the benefits of having life insurance , general insurance,
and health insurance from ICICI bank ?
11- VRM gives enhanced detail about the benefits of having SIP from ICICI bank ?
12- VRM helps in the fast processing of loan approval?
13- VRM helps you in teaching how to use I Mobile?
14- VRM contacts you on a regular basis to inform you of the offers available on your ICICI
bank I mobile ?
15- VRM is prompt in receiving call from their end whenever you called ?
16- VRM solves your problems and queries quickly ?
17- VRM kept you informed about ICICI BANK's hot new banking products at regular
intervals?.

`
18- VRM approached you for a physical meeting, and the meeting was beneficial to you. ?
19- VRM strives to establish long term relation ship with them ?
20- Please rate your VRM's overall service experience ?
21- Please rate are you happy with your VRM ?
A. DESCRIPTION OF THE RESEARCH DESIGN AND PROCEDURES
USED: Call analysis for quality check and feedback to RM/BM – what went well, what
went wrong is the topic given by ICICI Bank. Once the topic was given, I went through
relevant literature to find out the common themes relevant to the topic. Based on this I
understand the VRM system in ICICI bank and how it is beneficial for the bank. How
Virtual RM use this system for the benefit of the bank and developed long term
relationships with them, are customers happy with this new approach from ICICI bank
After creating our theoretical framework, I created a questionnaire. The questions were
carefully selected from reliable sources. Care was taken to ensure that the instrument
measured the data that was intended to be measured. Then I used the method of
convenience sampling by sending out the questionnaire to walk-in customer with the help
of Google forms, to acquaintances the customers responses regarding their Virtual RM
experiences. On receiving enough responses, I cleaned and sorted the data to ensure that I
left with quality responses. I then analysed the data.
B. SOURCES OF DATA: To reach a precise database list of questionnaires has been
prepared. Then get it filled by the walk-in customer of ICICI Bank. Data was collected
about the customer happiness, Virtual RM was able to solve their queries, and the Product
is pitched in the right way. The data was collected within the span of 15. The questionnaire
having 21 questions
C. SAMPLING PROCEDURE: I used convenience sampling and sent out the forms
to the people who are walk-in customers. I approached 50 people, out of which 32
responded. I tried to get a sample of people of different age groups, different educational
levels, and genders. Once I had enough respondents from each category, I ended the data
collection process.

`
D. METHODS AND INSTRUMENTS OF DATA GATHERING: A self-
administered questionnaire was used to collect data. The questionnaire had a rating scale
of 1 to 5, so if a customer gives a 1 rating, he is extremely dissatisfied with Virtual RM
services; on the other hand, if a customer gives a 5 rating, he is extremely satisfied. The
number 3 denotes an average rating. The survey was created using Google Forms and
distributed to walk-in customers. The responses were automatically recorded, and once the
data collection was completed, the responses were downloaded in the form of an excel
sheet, where they were further analyzed.

`
By pitch its mean the tone in which Virtual RM talks to its customer for example its show
how excited Virtual RM when he approaches the customer in the graph we can see out of 32
21 which mean 65.6% of people has rated good and very good so its mean VRM approaches
customer in an excited and healthy way
VRM approaches customers in a friendly and well-behaved manner, with 75 percent of the
ratings being good or very good, indicating that VRM is customer friendly.

`
Because credit cards are one of ICICI's most popular products, receiving a 31 percent of 3
ratings is not ideal in my opinion. The reason for the low rating is that there is fierce
competition in the credit card industry, and various new comers are offering credit cards at
better rates. When approaching to sell credit cards, VRMs should try to understand customer
needs and provide better offers
We can see that 68.9% of people are satisfied with VRM approaches and knowledge of
personal loans, which is a good sign because personal loans are one of ICICI bank's most hot
selling products.

`
We can see that 62.5% of people are satisfied with VRM approaches and knowledge of FD ,
which is a good sign because FD are one of ICICI bank's most hot selling products.
We can see that 68.8% of people are satisfied with VRM approaches and knowledge of DD,
which is a good sign because DD are one of ICICI bank's most hot selling products.

`
We can see that 65.5% of people are satisfied with VRM approaches and knowledge of
Home loan, which is a good sign because Home loan are one of ICICI bank's most hot
selling products
We can see that 71.9% of people are satisfied with VRM approaches and knowledge of gold
loan, which is a good sign because gold loan are one of ICICI bank's most hot selling
products
We can see that 71.9% of people are satisfied with VRM approaches and knowledge of auto
loan, which is a good sign because auto loan are one of ICICI bank's most hot selling
products

`
We can see that71.9 % of people are satisfied with VRM approaches and knowledge of
insurance, which is a good sign because insurance are one of ICICI bank's most hot selling
products
We can see that 75% of people are satisfied with VRM approaches and knowledge of SIP,
which is a good sign because SIP are one of ICICI bank's most hot selling products

`
By assisting with loan approval, VRM demonstrates that they are capable of providing
services and assisting their customers. After selling the products, 75 percent of customers are
satisfied.
I Mobile is the app from where customer can do online banking 75% of the happy customer
shows VRM are good in providing services and bulding relationship

`
One of the most important ways to build a strong relationship with your customer is to keep
in regular contact with them, and 74 percent of customers are satisfied with this approach.
Having available whenever a customer approach you are good sign for building strong
relationship and 68.8 % of customer are happy with this

`
Quickness in solving problem is must to retain customer 71.9 % of customer is happy with
this approach
One of the most important ways to build a strong relationship with your customer is to keep in
regular contact with them, and 71.9 percent of customers are satisfied with this approach.

`
31 % of customer are unsatisfied with VRM approaches regarding physical meeting physical
meeting is must for better understanding of customer need

`
As we can see form above graph overall customer is very satisfied from the VRM services
and approach

`
 Hot-selling banking products should be promoted to target customers via email and Google
ads, increasing VRM's chances of selling them.
 To effectively approach customers, VRMs should be trained in local languages and cultures.
 They should also be taught to treat their customers professionally rather than casually and to
communicate with them in a professional manner.
 Customers should be notified of their VRM by mail in advance so that they do not
misinterpret the call as a fraud attempt.
 VRM has complained that because the bank name was flashed on the phone, customers
assumed the call was about selling products rather than the bank’s approach to providing
services. The picking-up call rate from the customer side will increase if the name of VRM
can be flashed with ICICI bank.
 Customers should be notified by mail about the offers they receive in their I mobile app so
that when VRM contacts them about the offers, the conversion rate increases drastically.
 VRM should be regularly trained regarding knowledge about the banking products so that
counter questions from customers can be answered effectively and satisfaction ratings can be
increased more.
 VRM Call recording should be monitored and pinpointed on a regular basis so that they can
improve their calling skills.
 Creating a system of innovation from low-level management ex regular feedback should be
taken by VRM

`
The findings were limited to a single ICICI Bank branch. As a result, the findings cannot
be generalized to other ICICI branches.
• Customers may provide biased responses when asked for information. As a result, their
recommendations should be taken with a grain of salt, and we should evaluate the whole
client base before implementing something.
• Some clients were reluctant to share the information. Because most of them were unaware
of the study procedure, gathering information was a significant constraint. They only want
to discuss their needs with authorized banking employees.
• Many customers still believe in traditional banking. They want to meet the employees in
person to discuss their needs, and if any error occurs, they want to hold employees
responsible. So, many of them are still reluctant to adopt digitalization.

`
ICICI Bank is one of the major private banks in the banking business, offering a wide range
of products and services. It has always been at the forefront of introducing new modern
banking technology. The findings reveal that many of the customers are still not aware of the
digital services
provided by the bank, and some of them still believe in traditional banking even after
knowing about digitalization. So, it is hard to convince them to adapt to digitalization as
they are reluctant to the change. However, by implementing the right strategies and practical
methodologies, the customer
adaptation to digitalization will increase in the coming future as many of the customers are
young and middle-aged; they know about the benefits of digital services, but there is a need
to address them adequately.

`
https://www.icicibank.com/?ITM=nli_cms_HP_logo_personal_topnavigation
• https://www.icicibank.com/aboutus/awards.page?#toptitle
• https://www.icicibank.com/Personal-Banking/loans/loans.page
• https://www.icicibank.com/Personal-Banking/insta-banking/internet-banking/index.page
• https://thedailyguardian.com/impact-of-digitalisation-on-the-indian-banking-sector/
• https://www.softwaregroup.com/insights/blog/article/10-innovations-that-deliver-the-
digital-banking-of-the-future-today
• https://www.koreascience.or.kr/article/JAKO202109554061272.view?orgId=kodisa
• https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/digital-
india-technology-to-transform-a-connected-nation
• https://www.ibef.org/industry/banking-india
• https://m.rbi.org.in/Scripts/PublicationsView.aspx?id=19417

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