Private banking is a concept which is new and fast emerging in the world of banking where changes have become a necessity in order for banks to survive in this competitive environment vis-à-vis not only from the public and private sector banks but also from the foreign banks. The objective of the research is to explore the various products, which a private banker deals into and the systematic process involved to match client requirements with the right kind of product. Through this research one of the main objectives is to explore the reason why most of the banks are injecting private banking as business profile to their set of service offerings.
Though private banking evolved in late 80’s in Asia, in India its not more than 5 years old. ICICI started it in Aug 2002 and since then it has been a remarkable success. Today there are enormous solutions to cater client needs but what suits best to a client is where private banking fits in. Every client will have different needs, liking and preferences. So a customized portfolio for every client is the need of the day. This research will highlight more on the product portfolio of ICICI Private Banking, how they have changed or innovatively structured to be attractive and competitive.
1.1 ABOUT ICICI BANK
ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174, NYSE: IBN) is an Indian diversified financial services company headquartered in Mumbai, Maharashtra. It is the second largest bank in India by assets and third largest by market capitalization. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank has a network of 2,772 branches and 9,363 ATM’s in India, and has a presence in 19 countries, including India. The bank has subsidiaries in the United Kingdom, Russia, and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre; and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia.
The company’s UK subsidiary has established branches in Belgium and Germany. ICICI Bank was established in 1994 by the Industrial Credit and Investment Corporation of India, an Indian financial institution, as a wholly owned subsidiary. 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 initially known as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent company was later merged into ICICI Bank. 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, followed by an equity offering in the form of American Depositary Receipts on the NYSE in 2000. ICICI Bank acquired the Bank of Madura Limited in an all-stock deal in 2001, and sold additional stakes to institutional investors during 2001-02. 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 and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. In 2000, ICICI Bank became the first Indian bank to list on the New York Stock Exchange with its five million American depository shares issue generating a demand book 13 times the offer size.
In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. In 2008, following the 2008 financial crisis, customers rushed to ATM’s and branches in some locations due to rumors of adverse financial position of ICICI Bank. The Reserve Bank of India issued a clarification on the financial strength of ICICI Bank to dispel the rumors.
1.2 Company profile
Date of Establishment| 1994|
Revenue| 0 ( USD in Millions )|
Market Cap | 1243181.112606 ( Rs. in Millions )|
Corporate Address| Landmark,Race Course Circle,AlkapuriVadodara-390007, Gujarat www.icicibank.com|
Management Details| Chairperson – K V Kamath
MD – Chanda Kochhar
Directors – Anup K Pujari, Anupam Puri, Arvind Kumar, Chanda D Kochhar, Chanda Kochhar, Homi Khusrokhan, K Ramkumar, K V Kamath, L N Mittal, M K Sharma, M S Ramachandran, M S Ramchandran, Madhabi Puri Buch, Marti G Subrahmanyam, N S Kannan, N Vaghul, Narendra Murkumbi, P M Sinha, Rajiv Sabharwal, Sandeep Bakhshi, Sandeep Batra, Sonjoy Chatterjee, Sridar
Iyengar, Swati Piramal, T S Vijayan, Tushaar Shah, V Prem Watsa, V Sridar, V Vaidyanathan| Business Operation| Bank – Private|
Background| ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI’s shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000.| Financials| Total Income – Rs. 410454.12 Million ( year ending Mar 2012) Net Profit – Rs. Million ( year ending Mar 2012) |
Company Secretary| Sandeep Batra|
Auditors| BSR & Co|
To be the leading provider of financial services in India and a major global bank.
* We will leverage our people, technology, speed and financial capital to: be the banker of first choice for our customers by delivering high quality, world-class service.
* Expand the frontiers of our business globally.
* Play a proactive role in the full realisation of India’s potential. * maintain a healthy financial profile and diversify our earnings across businesses and Geographies.
* Maintain high standards of governance and ethics.
* Contribute positively to the various countries and markets in which we operate. * Create value for our stakeholders.
ICICI BANK HISTORY
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI’s shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank’s acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE.
After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry, and the move towards universal banking, the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities, and would create the optimal legal structure for the ICICI group’s universal banking strategy. The merger would enhance value for ICICI shareholders through the merged entity’s access to low-cost deposits, greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations, seamless access to ICICI’s strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based services, and access to the vast talent pool of ICICI and its subsidiaries.
In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. Consequent to the merger, the ICICI group’s financing and banking operations, both wholesale and retail, have been integrated in a single entity. ICICI Bank is India’s second-largest bank with total assets of Rs. 4,062.34 billion ($91 billion) at March 31, 2011 and profit after tax Rs. 51.51 billion ($1,155 million) for the year ended March 31, 2011. The Bank has a network of 2,535 branches and 6,810 ATMs in India, and has a presence in 19 countries, including India. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management.
The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Their UK subsidiary has established branches in Belgium and Germany. ICICI Bank’s equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). Services offered by the company:
* Investments & Insurance
* NRI Services
* Money Transfer
* Bank Accounts
* Home Loans
* Loans against FD
* The bank tops the list of ‘Most Trusted Private Sector Bank’ and ranks 10th in the list of ‘India’s Most Trusted Service Brands’ by Brand Equity, Most Trusted Brands 2011 * The bank received the Best Manpower Efficient Award amongst private sector banks by FICCI – IBA * The bank won the Best Local Bank – Gold by Trade and Forfaiting Awards, UK * The bank was awarded The Asset Triple A Awards, Hongkong for – Best domestic transaction bank (India), For 6th consecutive year won the best domestic trade finance bank (India), Best domestic cash management bank (India), Best e-Commerce Bank (India), and Best SME Bank (India) * The bank is the only Indian brand to figure in the BrandZ Top 100 Most Valuable Global Brands Report 2011, second year in a row. * The bank ranked 5th in the list of ’57 Indian Companies’, and 288th in World Rankings in Forbes Global 2000 list * The bank has won the ‘Banking Technology Awards 2010′ at The Indian Banks Association in the following categories – Best Financial Inclusion Initiative’ (first prize), Best Online Bank ( runner up), Best use of Business Intelligence ( runner up) and Technology Bank of the year ( runner up) * The bank was recognized for its Special Citation of the Fully Electronic Branch Service Channel, first set up at Hiranandani Estate, Thane, at the Financial Insights Innovation Awards held in conjunction with Asian Financial Services Congress * For the second year in a row, the bank was ranked 70th in the Brandirectory league tables of the world’s most valuable brands by, The BrandFinance Banking 500. * ICICI Bank UK, HiSAVE product range has been awarded the Consumer Moneyfacts Awards 2011 for the ‘Best Online Savings Provider’ * The bank ranked second in the financial services sector in Business World’s, “Most Respected Company Awards 2011′ * The bank was ranked 1st in the Banking and Finance category and 9th in the ‘2010 Best Companies To Work For’ by Business Today
* October 25, 2010 – ICICI Bank and American Express Global Network Services Launch ICICI American Express Prepaid Travel Card * October 06,
2010 – The bank launches website in Hindi
* September 30, 2010 – ICICI Bank has launched its first retail branch in Singapore, setting the stage for its next phase of growth * August 13, 2010 – Amalgamation of Bank of Rajasthan Ltd. with ICICI Bank Ltd COMPETITORS
Price| Change (%)| P/E Ratio| Market
HDFC Bank| 272863.52| 637.15| 0.61| 25.68| 1504756.03| 640/400| |
ICICI Bank| 335426.52| 1078.25| -0.09| 16.80| 1243181.11| 1102/641| |
Axis Bank| 219946.47| 1231.25| 0.91| 11.28| 525271.68| 1309/785| |
Kotak Mahindra Bank| 61802.36| 615.00| -0.86| 40.26| 457241.25| 652/418| |
Indusind Bank| 53591.93| 362.60| 0.04| 18.59| 170293.70| 376/222| |
Yes Bank| 63073.58| 413.10| 3.44| 13.13| 147331.16| 419/231| |
Federal Bank| 55583.92| 487.55| -0.10| 9.87| 83394.21| 495/322| |
Centurion Bk of Punj| 12685.30| 41.40| 0.00| 52.93| 78932.68| 43/41| |
ING Vysya Bank| 38568.08| 456.85| -1.64| 13.15| 69314.83| 475/276| |
J&K Bank| 48355.77| 1149.00| -1.11| 6.42| 55700.99| 1190/645| |
Karur Vysya Bank| 32703.73| 443.35| -0.12| 8.96| 47554.42| 455/322| |
Bank of Raj| 13594.89| 212.10| 0.00| 0.00| 34222.35| 214/207| |
South Indian Bank| 35834.25| 21.90| -0.90| 6.58| 29247.83| 28/20| |
Standard Chartered| 79432.33| 103.10| 0.63| 1.43| 24744.00| 109/72| |
Karnataka Bank| 31128.77| 126.60| -6.08| 6.70| 23839.34| 139/64| |
City Union Bank| 16967.74| 56.35| -2.51| 7.81| 23100.79| 60/39| |
Devp Credit Bank| 7169.69| 43.70| -1.91| 14.22| 10519.26| 52/31| |
Lakshmi Vilas Bank| 15192.56| 78.15| -3.16| 7.08| 7622.80| 106/69| |
Dhanlakshmi Bank| 13936.54| 56.95| -4.21| 0.00| 4848.51| 79/42| |
United Western Bank Ltd| 4866.15| 25.90| 0.00| 0.00| 1392.59| 0/0| |
ICICI Bank offers wide variety of Deposit Products to suit your requirements. Coupled with convenience of networked branches/ ATMs and facility of E-channels like Internet and Mobile Banking, ICICI Bank brings banking at your doorstep. Select any of our deposit products and provide your details online and our representative will contact you for Account Opening.
ICICI Bank offers you a power packed Savings Account with a host of convenient features and banking channels to transact through. So now you can bank at your convenience, without the stress of waiting in queues
SENIOR CITIZEN SERVICES
We understand that as you reach the age to retire, you do have certain concerns … whether your hard earned money is safe and secure … whether your investments give you the kind of returns that you need. That’s why we have an ideal Banking Service for those who are 60 years and above. The Senior Citizen Services from ICICI Bank has several advantages that are tailored to bring more convenience and enjoyment in your life.
It’s really important to help children learn the value of finances and money management at an early age. Banking is a serious business, but we make banking a pleasure and at the same time children learn how to manage their personal finances.
Safety, Flexibility, Liquidity and Returns!!!! A combination of unbeatable features of the Fixed Deposit from ICICI Bank.
When expenses are high, you may not have adequate funds to make big investments. But simply going ahead without saving for the future is not an option for you. Through ICICI Bank Recurring Deposit you can invest small amounts of money every month that ends up with a large saving on maturity. So you enjoy twin advantages- affordability and higher earnings * HOME LOAN
The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans offers some unbeatable benefits to its customers – Doorstep Service, Simplified Documentation and Guidance throughout the Process. It’s really easy!
If you’re looking for a personal loan that’s easy to get, your search ends here. ICICI Bank Personal Loans are easy to get and absolutely hassle free. With minimum documentation you can now secure a loan for an amount up to Rs.15 lakhs. * CAR LOAN
The NO 1 financier for car loans in the country. Network of more than 1500 channel partners in over 780 locations. Tie-ups with all leading automobile manufacturers to ensure the best deals. Flexible schemes & quick processing. Hassle-free application process on the click of a mouse. COMMERCIAL VEHICLE LOANS
Range of services on existing loans & extended products like funding of new vehicles, refinance on used vehicles, balance transfer on high cost loans, top up on existing loans, Extend product, working capital loans & other banking products. TWO WHEELER LOANS
Avail attractive schemes at competitive interest rates from the No 1 Financier for Two Wheeler Loans in the country. Finance facility up to 90% of the On Road Cost of the vehicle, repayable in convenient repayment options and comfortable tenors from 6 months to 36 months. Ride home on your Dream Two Wheeler with our hassle free finance.
FARM EQUIPMENT LOANS
Preferred financier for almost all leading tractor manufacturers in the country. Flexible repayment options in tandem with the farmer’s seasonal liquidity. Monthly, Quarterly and Half-yearly repayment patterns to choose from. Comfortable repayment tenures from 1 year to 9 year CREDIT CARDS
ICICI Bank Credit Cards give you the facility of cash, convenience and a range of benefits, anywhere in the world. These benefits range from life time free cards, Insurance benefits, global emergency assistance service, discounts, utility payments, travel discounts and much more. DEBIT CARDS
The ICICI Bank Debit Card is a revolutionary form of cash that allows customers to access their bank account around the clock, around the world. The ICICI Bank Debit Card can be used for shopping at more than 100,000 merchants in India and 13 million merchants worldwide. TRAVEL CARD
Presenting ICICI Bank Travel Card. The Hassle Free way to Travel the world. Traveling with US Dollar, Euro, Pound Sterling or Swiss Francs; Looking for security and convenience; take ICICI Bank Travel Card. Issued in duplicate. Offers the Pin based security. Has the convenience of usage of Credit or Debit card. PRE PAID CARDS
ICICI Bank brings to you a complete bouquet of pre-paid cards providing payment solutions at your fingertips. ICICI Bank pre-paid cards are a safe & convenient way for associate payments, disbursements, gifting & small ticket transactions. Pre-paid cards are available on a VISA platform thus providing accessibility to over one lakh merchant establishments & cash withdrawal from all VISA ATMs in India. INVESTMENTS
At ICICI Bank, we care about all your needs. Along with Deposit products and Loan offerings, ICICI Bank assists you to manage your finances by providing various investment options ranging from ICICI Bank Tax Saving Bonds to Equity Investments through Initial Public Offers and Investment in Pure Gold. ICICI Bank facilitates following investment products: * ICICI Bank Tax Saving Bonds
* Government of India Bonds
* Investment in Mutual Funds
* Initial Public Offers by Corporate
* Investment in “Pure Gold”
* Foreign Exchange Services
* Senior Citizens Savings Scheme, 2008
You can invest in above products through any of our branches. For select products ICICI Bank also provides the ease of investing through electronic channels like ATMs and Internet (ICICIdirect.com). CUSTOMER
ICICI bank targets all segment of customer with various types of products and services. I interacted with a a lot of customers and collect their feedback on the given services of company, and feedback are positive response from all point of view. Customers are beneficiary from both sides monetary as well as non monetary. The bank targets to add nearly 500,000 customers under the new scheme in the next one year and plans to offer auto loans through the new online channel in the future, ICICI Bank’s Executive Director, V Vaidyanathan, said here. “As of now, nearly 24 per cent of our customer transactions are happening through internet. We are primarily targeting our urban customers, who constitute nearly 70 per cent of our total customer-base,” Vaidyanathan said. Customers, opting for the service can also benefit from the quantum optima facility, wherein if the balance exceeds Rs 5,000, the money will automatically be transferred to a fixed deposit scheme, he said.
The facility, which also enable customers to transact between an ICICI Bank account and accounts in other banks, is being offered free of cost, he said ICICI bank, presently, has above 2 crore customers. The lender opened nearly 470 branches in the last fiscal. The lender has also plans to launch ‘SMS n Cash’ scheme later this week under which ICICI account holders can transfer funds to those who do not have a bank account. ICICI bank is strongly committed to protecting the privacy of its customers and has taken all necessary and reasonable measures to protect the confidentiality of the customer information and its transmission through the world wide web and it shall not be held liable for disclosure of the confidential information when in accordance with this privacy commitment or in terms of the agreements, if any, with the customers. ICICI bank Endeavour’s to safeguard and ensure the security of the information provided by the customer.
ICICI bank uses 128-bit encryption, for the transmission of the information, which is currently the permitted level of encryption in India. When the information provided by the customers is not transmitted through this encryption, the customer’s system (if configured accordingly) will display an appropriate message ensuring the best level of secrecy for the customer’s information. The customer would be required to cooperate with ICICI bank in order to ensure the security of the information, and it is recommended that the customers necessarily choose their passwords carefully such that no unauthorized access is made by a third party.
To make the password complex and difficult for others to guess, the customers should use combination of alphabets, numbers and special characters (like! @, #, $ etc.). The customers should undertake not to disclose their password to anyone or keep any written or other record of the password such that a third party could access it. * ICICI bank undertakes not to disclose the information provided by the customers to any person, unless such action is necessary to: * Conform to legal requirements or comply with legal process; * Protect and defend ICICI bank’s or its affiliates rights, interests or property; * Enforce the terms and conditions of the products or services; or * Act to protect the interests of ICICI bank, its affiliates, or its members, constituents or of other persons. ENVIRONMENT
An employer the bank extends a lot of authority along with justified accountability to you. The working culture is very collaborative in nature. It can be owed to the fact that the bank is highly segmented with a lot of overlapping and mostly distinct roles and responsibility.ICICI Bank has established itself as a one stop solution (Universal Bank) for all financial need of individuals and institutions alike. The credit for the same can be attributed to its vast network, probably the largest among private sector banks.This makes the life of an employee a lot easier, especially for those who face the external customers. You do not have to justify your organization, it is only the product that has to be pitched.
As far as employee benefits are concerned, ICICI Bank offers a lot of financial benefits ranging from your family health insurance to your kids school donations. The organization is sensitive to the needs of its employees as this quality is one of the building blocks (DNA) of the organizational culture. The organization will be giving you enough flexibility to innovate and come-up with new ideas. It will also exhibit its in terms of well laid systems, processes and infrastructure. It will extend a fast track growth for those with extraordinary talent at the same time offer stability to those who are able to deliver satisfactorily.Overall, I would say it’s a lifetime experience to work with such a behemoth organization. It might not be the best paymaster but it definitely will impress you with its capability as the head master (Principal) of banking industry.there are huge competition between the eployee to achieve theo goal.
ICICI use many type of advance technological software like Pinnacle 7.0 and Pinnacle7.016.Among from this software ICICI bank uses the e-banking, core banking, mobile banking electronic display sy ICICI Bank was using Teradata for its data warehouse. However, due to its proprietary hardware, the cost of procurement, upgrades and administration was soaring. The closed box architecture of Teradata imposed restrictions on scalability. Secondly, querying and loading could not happen simultaneously. Queries could only be run during business hours because the loading of data had to take place during off-business hours. This meant that the refresh rate of EDW was delayed, so queries may not reflect the most current data. ICICI Bank was also dependent on Teradata for support and other activities: The bank was completely tied down to that solution. These issues compelled ICICI Bank to look for more efficient and flexible solutions.
The solution would have to address not only current issues, but accommodate future growth expectations and business requirements. ICICI Bank evaluated numerous data warehousing solutions in the pursuit of solving its issues, and developed a shortlist of alternatives for its migration proof-of-concept: Sybase, SAS and Netezza. The primary criteria for evaluation was the price-to-performance ratio where Sybase IQ emerged the clear winner. During this rigorous testing, Sybase IQ delivered faster results on independent hardware and operating systems with minimum infrastructure. Commending the improvements achieved, Amit Sethi, Joint General Manager, ICICI bank says, “What impressed us wasthat even with overall lower costs, we could achieve significantly better query performanceafter implementing the Sybase enterprise warehouse solution.” ICICI Infotech today launched an enterprise resource planning (ERP) solution for the small and medium enterprises. The ERP package – Orion Advantage – comes bundled with an HP dual processor Xeon server, Oracle 9i database, Windows 2003 server and costs about Rs 9.90 lakh and has a 15-user license.
An ERP package helps a manufacturer or any other business implementing it to manage all the important parts in the company such as product planning, parts purchasing, maintaining inventory and interacting with suppliers and customers. ICICI Infotech officials told a press conference here today that Orion Advantage offered a set of business practice solutions for industry segments such as engineering, auto ancillary, pharmaceuticals, chemicals and IT distribution. Besides the cost advantage, the ERP package also came pre-configured. ICICI Infotech had mapped the processes specific to each industry segment into the package. Mr. Manoj Kunkalienkar, Executive Director and President, ICICI Infotech, said that small and medium enterprises (SMEs) offered a good market and ICICI Infotech hoped to become a leading solution provider to this segment. Mr. R.K. Kanthi, Deputy General Manager, ICICI Infotech, said there was no ERP package for the SMEs that bundled the server, database and operating system right now. That was the advantage ICICI Infotech offered to SMEs as Orion Advantage came bundled and pre-configured. Besides the high cost of generic ERP packages, their implementation time as far as SMEs were concerned was also long.
Orion Advantage could be installed in 45 days. ICICI Infotech had signed up six customers so far for the package and hoped to garner a 15 per cent market share of the SME segment, whose number in the country was estimated at 2.30 lakh. Mr. K.S. Natarajan, Managing Director, Trident Pneumatics Pvt Ltd of Coimbatore, one of the companies that had installed Orion Advantage, said that the company had tried three other ERP packages, all of which had failed, before settling on Orion Advantage. Mr Kunkalienkar said that ICICI Infotech planned to move the two development centers in Chennai into a single location and double the staff strength from 300 now in the next two years. The Chennai centers were involved in research and development of Orion ERP solutions and Premia, an insurance package. SWOT ANALYSIS
* Right strategy for the right products.
* Superior customer service vs. competitors.
* Great Brand Image
* Products have required accreditations.
* High degree of customer satisfaction.
* Good place to work
* Lower response time with efficient and effective service. * Dedicated workforce aiming at making a long-term career in the field.
* Some gaps in range for certain sectors.
* Customer service staff need training.
* Processes and systems, etc
* Management cover insufficient.
* Sectoral growth is constrained by low unemployment levels and competition for staff.
* Profit margins will be good.
* Could extend to overseas broadly.
* New specialist applications.
* Could seek better customer deals.
* Fast-track career development opportunities on an industry-wide basis. * An applied research centre to create opportunities for developing techniques to provide added-value services.
* Legislation could impact.
* Great risk involved
* Very high competition prevailing in the industry.
* Vulnerable to reactive attack by major competitors
* Lack of infrastructure in rural areas could constrain investment. * High volume/low cost market is intensely competitive.
2.1 LITERATURE REVIEW
This literature review has been divided into some sectors related to customer service, like customer value, customer royalty, service quality and the relation between all of them. * Customer Value:
A firm which gives value to its customers receives the customer satisfaction as an outcome. Day (1990) advocated that in today’s competitive environment, creating superior customer value is most important for company’s performance. Porter (1980) said that a company can adopt two market strategies (1) cost leadership and, (2) product differentiation. But Day (1990) argued that both the strategies have same objective to create superior customer value. Without the superior customer value the achieving of market leadership is in vain. Again Khalifa (2004) said that the concept of customer value is used not only in different fields such as finance, economics, management, information system, justice, ethics, etc., but including relationship marketing, customer behavior, pricing and strategy.
The consumer value signifies how the customers recognize product or services, not what the firm wants to deliver to its customers. Customer value is linked to use of a product or services. Customer value is related to the trade off between what the customer pays in exchange for acquiring and using a product or services from seller and what the customer viewed what he/she received. * Customer Loyalty:
Dawes and Swailes (1999) said that the high customer loyalty is a central to the successful customer retention, and companies on the basis of loyalty will win over competition. It reflects the behavioral intention related to the product or services. Tucker (1964) says that no consideration should be given to what the subject thinks or what goes on in his central nerves system, his behavior represents the full statement of what brand loyalty is. The personality is the indication of the branding attachment. Keller, (1993) suggested that loyalty is present when favorable attitudes for the brand are manifested in repeat buying behavior. Jacoby and Chesnut, (1978) said that the brand loyalty was simply measured in terms of the outcome variables.
“Customer loyalty has focused on primarily on the product-related or brand loyalty, whereas researchers on the customer loyalty to the service organisation has remained limited”, (Gremler and Brown, 1996). He added that the concept of loyalty to the intangible products, and their definition of service loyalty include three specific components that are, (1) Purchase, (2) attitude and, (3) cognition. The service loyalty is the level at which customer shows repeat purchasing behavior from service provider. * Service Quality:
The service quality and the customer service are interred related. According to Parasuraman et al. (1988), the desired service quality is a global judgment, or attitude, relating to the superiority of the service, whereas satisfaction is related to specific transaction. That means that the service quality is mean for long-run evaluation about service, where as satisfaction is a transaction-specific evaluation. Cronin and Taylor (1992) used the structural analysis to analyse the relationship between the customer satisfaction and service quality. He found that the coefficient of the service quality is related to the satisfaction.
The satisfaction is having the relation with the purchase intention path where all appeared not to be important. And the service quality is having the relation with the purchase intension which appeared to be unimportant. Based on this analysis he they concluded that service quality is an antecedent of the customer satisfaction. Cronin and Taylor (1992) examined the relation between service quality and consumer satisfaction and the impact of service quality and customer satisfaction on purchase intensions. He concluded his research as a. Service quality is an antecedent of customer satisfaction.
b. Customer satisfaction has a major effect on the purchase intension.
c. Service quality has less effect on the purchase intension then the customer satisfaction. Hartline and Jones (1996) examined the process of delivery of service quality and value, and their effect on the customer behavioral intension. The finding of this research is that, 1. The performance of the front desk employees has the largest total effect on the word-of-mouth intensions. 2. All effects are indirect and mediated by overall quality and value. 2.2 ABOUT THE TOPIC
The Greek philosopher, Epictetus says that “What concerns me is not the way things are, but rather the way people think things are ”.The concept of the consumer satisfaction were depend on the thinking of the consumer. Oliver (1997) gave a static definition of the consumer satisfaction by analyzing the total consumption process and experience of the customer. “Satisfaction is defined as a pleasurable fulfillment. That is the consumer senses that consumption fulfils some needs, desire, goals, or so forward and that this fulfillment is pleasurable. Thus satisfaction is the consumer’s sense that consumption provides outcomes against the standard of pleasure versus displeasure. For satisfaction to affect loyalty frequent or cumulative satisfaction is required so that individual satisfaction episodes become aggregated or blended”.
Customer satisfaction is equivalent to making sure that product and service performance meets customer expectations. It is the perception of the customer that the outcome of a business transaction is equal to or greater than his/her expectation. Customer satisfaction occurs when the acquisition of products and /or services provides a minimum negative departure from expectations when compared with other acquisitions and when the marginal utility of a transaction is equal to or greater than preceding acquisitions. Customer satisfaction occurs when the perception of the reward from the purchase of goods or services by the customer meets or exceeds his/her perceived sacrifice. The perception is a consequence of matching past purchase and consumption experience with the current purchase.
3.1 PURPOSE OF THE STUDY
The aim of this research is to analyze the impact of several customer satisfaction-relevant constructs that influence customer’s decision to stay or leave their bank. These constructs were rated by customers as having strong effects on loyalty on their banks. An effort will also be made to ascertain the views of those who are using the service of ICICI Bank, and afterward give some recommendation how to increase the customer satisfaction and market share through better customer service. SCOPE OF THE STUDY
The Scope of the project includes:-
i. Study of financial records in the Head Office of the Bank. ii. Analyze is base on the extract from 2011-2012.
iii. The project is in terms of RBI Circular following additional disclosures are made of the Bank. iv. The Bank will also be benefited from this project as it I will make their Non Performing Assets analysis system more effective.
3.2 RESEARCH OBJECTIVE
1) To discuss the importance of customer satisfaction in an organization. 2) To discuss and identify the theories of customer satisfaction, particularly emphasizing on the service quality, customer value and customer loyalty. 3) Analyzing and finding the customer satisfaction, of ICICI Bank, INDIA regarding factors of customer service quality, customer value and customer loyalty. 4) To verify the relationship between the customer satisfactions, customer value, customer service quality and customer loyalty of the ICICI Bank, INDIA. 5) To make recommendations to the ICICI retail banking industry in INDIA to increase the Customer satisfaction through service quality, customer value and customer loyalty.
3.3 RESEARCH METHODOLOGY
The study will be conducted to achieve the aforesaid objectives including both exploratory and descriptive in nature and involve personal interviews which will be based on the questionnaire format. A Research Methodology defines the purpose of the research, how it proceeds, how to measure progress and what constitute success with respect to the objectives determined for carrying out the research study.The appropriate research design formulated is detailed below.
Exploratory research: this kind of research has the primary objective of development of insights into the problem. It studies the main area where the problem lies and also tries to evaluate some appropriate courses of action. * The research methodology for the present study has been adopted to reflect these realties and help reach the logical conclusion in an objective and scientific manner. * The present study contemplated an exploratory research. 3.3.1 RESEARCH DESIGN
* Type of Research: – Descriptive research
Descriptive research includes Surveys and fact-finding enquiries of different kinds. The main characteristic of this method is that the researcher has no control over the variables; he can only report what has happened or what is happening.
3.3.2 DATA SOURCES
There are two types of data.
1. Primary data: The data that is collected first hand by someone specifically for the purpose of facilitating the study is known as primary data. So in this research the data is collected from respondents through questionnaire.
The data required for the study has been collected from-
a. Observation Method:-
To observe means seeing and listening people in a particular environment. Since the main Objective of report is to assess the entire fund process, thus fresh and potential data was required to fulfill the purpose so primary data is used. b. Interview Method:-
Interview means meeting for discussion between researcher and guider. In this method, the interviewers ask specific questions pertaining to research objectives and the responded to answer for specific questions by guider. c. Questionnaire Method:-
I have taken Primary data through questionnaire method. It consist of set of questions Which are administrated to responder to collect data on specific topic, it is popular research instrument. Questionnaire is prepared in two methods:-
(i) Open ended = Subjective
(ii) Close ended = Objective
2.Secondary Data:The collection of secondary data, defined as “the data that already exists”. The types of secondary data used of this research are: Desktop research
* By collecting all secondary information through reports, articles, case studies, projects that have been carried out in the past, and having relevance to the study brief. * The proposal will also be supported by academic work from journals and books. The library catalog and online databases like ABI Inform which will be accessed off campus with Athens password. * Journals have also provided vital assistance in the literature review. Survey based secondary data
Survey based secondary data is defined as, the “data collected by questionnaires which have been already analyzed for their original purpose”. * Questionnaire: This method would be very logical way of collecting information from customers that have been using the services of ICICI, INDIA. The aim of the questionnaire was to gain an understanding of the customer’s level of satisfaction for the service of ICICI, INDIA.
The questions talked about levels of satisfaction of the organization involved, how adaptable ICICI is to meet requirement of the customers as well as their employees. The collection of primary data, defined as “the data collected at source”. The type of primary data was obtained for this research is interviews. Personal Interviews: This method include face to face interview. By taking open-ended interview of few representatives from ICICI Bank. Focus group interview: This method includes interviewing the Customers who have been using the service of the bank SECONDARY SOURCES:-
The secondary data has been collected from
1. Private Documents (Life history, Diaries, Letters, etc.) 2. Reports published by various Research Organizations Year Books, Multi State publishers etc. 3. Books, Magazines, journals, Newspapers, Booklets, Prospectus, Annual Reports etc.
* Use of percentage and bar graph for analysis.
* Sizable sample of customers.
3.3.3 SAMPLE DESIGN
This research proposes to use a combination of qualitative and quantitative data analysis approach. The analysis will be done in informal way and will base on the data obtained from secondary data and primary data. In addition to this the researchers will analyze data collected from the companies, including personal contacts in ICICI, INDIA, to understand the current situation of ICICI in INDIA market. The data collection method aims to support the development of ICICI Bank’s customer service in UK, thorough considering the review of research papers. 220.127.116.11 SAMPLE SIZE
The data will use in this research from authentic secondary sources. Primary data will extract from interview with customers of this bank and relevant persons within the bank. I have restricted the sample size to 50 respondents. This was done keeping in mind the time constraints and the fact that I felt that this number would be enough to serve the information needs required to show the trends. And the conclusion will base on a recommendation for the bank for their future customer service. No particular ethical issues regarding the research can be foreseen at the moment. EXTENT:-
1. where the survey should be carried out?
I have covered entire residential area of Delhi city for the survey. 2. Who is to be surveyed? The marketing researcher must define the target population that will be sampled. The sample Unit taken by me,General public of different age group,different gender and different proffesion
when the survey should be conducted?
I conducted my survey for 8weeks from 10th may to 10th july.
18.104.22.168 SAMPLING METHOD: –
How should the respondent be chosen?
In the Project sampling is done on basis of Probability sampling . Among the probability sampling design the sampling design chosen is stratified random sampling. Because in this survey I had stratified the sample in different age group, different gender and different proffesion. 3.3.4 METHOD OF DATA COLLECTION
1) Surveys are standardized written instruments that can be administered by mail, email, or in person. The primary advantage of surveys is their cost in relation to the amount of data you can collect. Surveying generally is considered efficient because you can include large numbers of people at a relatively low cost. There are two key disadvantages: First, if the survey is conducted by mail, response rates can be very low, jeopardizing the validity of the data collected. There are mechanisms to increase response rates, but they will add to the cost of the survey. We will discuss tips for boosting response rates later in this lesson. Written surveys also don’t allow respondents to clarify a confusing question. Thorough survey pre-testing can reduce the likelihood that problems will arise. 2) Interviews are more in-depth, but can be cost-prohibitive.
Interviews use standardized instruments but are conducted either in person or over the telephone. In fact, an interview may use the same instrument created for a written survey, although interviewing generally offers the chance to explore questions more deeply. You can ask more complex questions in an interview since you have the opportunity to clarify any confusion. You also can ask the respondents to elaborate on their answers, eliciting more in-depth information than a survey provides. The primary disadvantage of interviews is their cost. It takes considerably more time (and therefore costs more money) to conduct telephone and in-person interviews. Often, this means you collect information from fewer people. Interview reliability also can be problematic if interviewers are not well-trained. They may ask questions in different ways or otherwise bias the responses 3) Focus groups are small-group discussions based on a defined area of interest.
While interviews with individuals are meant to solicit data without any influence or bias from the interviewer or other individuals, focus groups are designed to allow participants to discuss the questions and share their opinions. This means people can influence one another in the process, stimulating memory or debate on an issue. The advantage of focus groups lies in the richness of the information generated.
The disadvantage is that you can rarely generalize or apply the findings to your entire population of participants or clients. Focus groups often are used prior to creating a survey to test concepts and wording of questions. Following a written survey, they are used to explore specific questions or issues more thoroughly 4) Record or document review involves systematic data collection from existing records. Internal records available to a capacity builder might include financial documents, monthly reports, activity logs, purchase orders, etc. The advantage of using records from your organization is the ease of data collection. The data already exists and no additional effort needs to be made to collect it (assuming the specific data you need is actually available and up-to-date).
22.214.171.124 INSTRUMENT FOR DATA COLLECTION
* Surveys are among the most common customer satisfaction tools. The reason behind this popularity is the lower costs sometimes associated with surveys, the ease of gathering information and the ability to reach a large group of consumers at a single time. Traditional surveys were paper forms sent through the mail. Technology allows companies to send surveys via email or to direct consumers to a website. Computerized surveys are highly customizable and allow companies to change or alter the surveys for specific consumer groups. * Field reports generally are customer satisfaction tools that require companies to have a physical presence in a specific location. For example, a company might send mystery shoppers into its retail locations. These shoppers fill out forms and describe their experience while in the store and when making a purchase. Field reports are often quite expensive and in some ways less informative than surveys.
The reports are less informative because they involve a smaller number of people from whom the company collects information. * Data mining often requires the use of technology to gather consumer information. Customer satisfaction tools that use data mining often gather information at the point of purchase in retail stores. The collected data goes to a database located within the company’s physical location. Workers then take the data and create reports on customer satisfaction using the information. Data mining might need additional customer satisfaction tools to complement the gathered data. * Companies often need to take a hard look at their operations and consumer types when making a selection from among the different customer satisfaction tools. In some cases, a tool that worked previously might no longer work under current business conditions. A company’s management team must be aware of the various conditions that can alter gathered consumer data. Adjusting data collection methods or survey questions will typically overcome the shortfalls of previous collection methods. Different methods might also be necessary for the various regions or locations in which a company operates.
126.96.36.199 QUESTIONARE TECHNIQUE
Types of questions:
The customer satisfaction surveys should include four types of questions: * Overall satisfaction Overall satisfaction measures are derived from questions that ask the customer to rate the service as a whole, such as, “Overall, how satisfied are you with the service provided by this department?” This kind of question is intended to capture all aspects of the customer experience, from the time the customer begins his or her quest to find the product or service, through receipt of the product or service, and into the use of the product or service. The customer experience can include customers’ interactions with service staff throughout the course of this process. * Drivers of customer satisfaction
If possible, the drivers of customer satisfaction will be identified prior to developing a customer satisfaction survey. Once the key drivers of satisfaction have been identified, effective survey questions can be developed around these drivers. See Appendix B for a menu of drivers of customer satisfaction compiled by King County because they are likely to apply to county customer satisfaction measurement. For example, staff courtesy may be a key driver of customer satisfaction. In that case, the customer satisfaction survey might include questions about elements of courtesy important to the customers, such as respectfulness, empathy, or a sense that staff go the extra mile.
As another example, a key driver may be access to online services, and this could lead to questions about web navigability, downtime, or hours of availability. If key drivers cannot be determined prior to a survey, the survey can include questions asking customers to rate both satisfaction with and the importance of a set of possible drivers. For example, a survey can ask how satisfied a customer is with the cleanliness of the facility and then ask how important cleanliness is to the customer. These “importance” results can then be used as the basis for key driver analysis and help guide future surveys. * Customer characteristics
Departments should gather information that is important to better understand service delivery, customer segments, and overall customer demographics. Examples of service delivery-related information are as follows:
■How services are accessed (online, in person, over the phone) ■Day or time services are accessed
In order to understand and analyze your customer’s characteristics, it is recommended you gather basic demographic data (at the end of your survey) on the following background characteristics:
Your program may have mandated reporting requirements for demographic information and if so then those categories (for example, age ranges) should be used. If not, then the County’s suggested default categories are presented in Appendix C. The county’s Equity and Social Justice Ordinance focuses on race, income, class, gender, and neighborhood. Many of these items would be directly addressed by including questions about the characteristics recommended above. Appendix C presents suggested wording for these and additional demographic characteristics that may be useful to your program for reviewing results with an equity/social justice lens. Suggested wording for questions on employment status, primary language, and education level also is included. * Open-ended questions
Recommended questions up to this point have been structured, fixed-alternative, Likert-type questions (e.g., multiple choice). In order to gather true qualitative impressions from customers and allow them to express themselves in their own words, it is recommended that each survey include at least one open-ended question. Examples of possible open-ended questions are as follows:
■Is there anything else you would like to tell us?
■What is the most important thing can we do to improve our service? ■Suggestions/comments?
3.3.5 LIMITATIONS OF THE STUDY
(i) The project was conducted in a short span of 2 months which itself acts as constraint. Moreover it also puts pressure for data collection and analysis of the data. (ii) It is based on the study of only one Co-Operatives bank. (iii) The study reveals the reasons only from the point of view of the bank and not the view of the customers. (iv) As per the bank’s policy there are restrictions on disclosing some information data. (v) The MIS system is very confidential and hence all the bank records were not fully accessible. (vi) Approximate values are used for the analyzing. Hence the results also reveal the approximate values.
4.1 DATA ANALYSIS
1. WHICH OF THE FOLLOWING ATTRIBUTES COMPELLED YOU TO MOST OPEN SAVING ACCOUNT IN ANY BANK?
2:-Which TYPE OF SERVICE PREFERS THE MOST by you?
3:-Which of following banks do you have account?
4:-WHAT TYPE OF ACCOUNT DO YOU HAVE IN BANK?
5:-How many services offered by your banks have been Used By you?
6:-How would you know about these services?
7:-What the people think about the Banks?
8:-What a respondent see in purchase of new plan from Banks?
9:-Is ICICI Bank Provide better facilities than SBI & HDFC Bank?
10:-Do you know what type of value added services provide by ICICI BANKS?
11:-How would you rate product offered ICICI Bank than other?
| Very Good| Good| Moderate| Less| Poor|
Rating| 5| 4| 3| 2| 1|
12:-How would you rate product service / product vs. cost by ICICI Bank?
13:-How would you divide 100 points on the basis of service provide by ICICI Bank?
14:-How would you rate services offered by ICICI Bank?
1. 1. It was found from the study that bank believes in quality service
rather than quantity of service. 2. The officials employed are very much enthusiastic about their job. 3. The officials try to make best relation with the customers. 4. There is separate counter for NRI services.
5. The limit of cash vault is Rs. 10, 00,000 for a day.
6. The registers and files are maintained on a daily basis.
7. The registers are maintained in a well organized manner.
8. The marketing strategy of the bank is very attractive.
9. The bank always tries to attract customers with innovative offers.
10. The bank is very keen to implement 5’s plan in all its branch.
11. ICICI and SBI credit deposit ratio is on the side though ICICI banks show a little decreasing trend to the exten of 2.24 % Over mar2007 _ mar 2008.
12. Both the bank investment deposit ratio is on the declining trend
13. Both the banks has shown better utilization of cash portfolio
14. ICICI bank Interest expences to interest earned remains the same Over 2 Years whereas SBI shows reduction.
15. Other Income ratio remains fluctuation in both the banks.
16. Operating expences to total income shows a decresing trend in ICICI bank whereas it was on the rising side in SBI.
17. Interest income to total funds shows rising mode in ICICI whereas In SBI more or less it remains at the level; The ratio of interest expenses to total funds shows an increase in Value in ICICI Bank whereas in SBI interest expences shows a Rising mode.
18. The ratio of Non Interest income remains the same for ICICI for The past 2 Years whereas in SBI at shows a decline.
19. The stock witness some selling pressure in the coming days in ICICI Bank .
20. The continuation pattern negates immediate bearish momentum on the stock and it’s advisable to buy at declines. Short term investor can initiate a buy above 500 with a target of 560 570.
A. Best play in a buoyant environment Favorable macro, buoyant Market related revenues and a benign environment for asset quality. 1· ICICI as a player focused on maintaining and /or improving Market share in key business segments, particularly retail lending- Will, in our view, benefit immensely form a positive operating Environment. 2. ICICI is viewed as it is benefited from the procyclicality effect of The economic cycle as its borrowers in the legacy project financing Activity witnessed their debt servicing ability increasing considerably. It is believed that the profitability of this segment has improved as a Result of lower loan loss provisions and lower taxable rates of Income from this source. Expectations is on the procyclical benefit ,To continue and hence profitability of legacy lending to be sustained At levels seen earlier.
3. Market related revenues is believed to contribute 14% – 15% to ICICIB’s operating revenues and have boosted its preprovision RoAA. Buoyant environment to sustain the contribution from market -related revenues is expected and hence the operating profitability.
4. Pricing power in consumer financing segment profitability Against potential shocks.
5. ICICIB enjoys a dominant market position across customer Categories in retail lending.
The strong market position and robust Demand for consumer financing vests significant pricing power With ICICIB is believed either by allowing a hike in lending rats, Negotiating higher subvention form manufacturers of cutting Distribution costs.
6. Strong pricing power and a balance sheet that is significantly Biased towards retail lending buffers ICICB’s profitability from Potential shocks in the bank’s funding cost.
7. ICICB has an adverse mismatch profile between assets and Liabilities. High volatility in interest rates could adversely effect Profitability in the short term; however, as the back book gets Reprised at new lending rates upon maturity, the bank’s NIM will Likely show improvement. This phenomenon to play out through FY1002E and FY2009E is expected.
8. In line with consensus, but we recommend buy ICICIB for growth Reasons and not for the relative valuation appeal. It is not so much about ICICIB versus HSFC or HDFCB, but about Their respective operating metrics and growth conditions. Market Has rewarded both strategies: ICICIB’s broad-based strategy allows capturing value across the Value chain in a customer segment; and ICICIB, like other large players in the private sector, enjoys Favorable conditions arising from a restrictive regulatory/policy Environment towards new entrants and foreign banks and slow Pace of reforms for state-owned banks is believed.
B. Increasing contribution from strategic investments Yet another driver 1. The value accruing from subsidiaries to be 17% of ICICIB’s Current marke capitization. This to rise to 20% of ICICIB’s target Price over the next 12 months is expected with banking and life Insurance being the key drivers.
2. The life insurance business of ICICIB has been incurring losses On an accounting basis due to continued investment in expznding The scale and scope of the business. The life insurance business is Believed in creating wealth for its shareholders through market Share gains, increasing penetration of life insurance and improving operating efficiency. 3.S The asset management and venture capital fund of ICICB makes A negligible contribution currently; however, these businesses is Believed to hold significant upside potential as they achieve scale Economies.
Thus, ICICI has been able to use technology to provide value-added service to its customers during the last few years. For ICICI, technology is an integral part of their business. However, their overall progress could have been smoother but for certain internal and extraneous factors and also a pressure on spreads due to a competitive market (Annual report, 2000 –01). E-banking has become a necessary survival weapon and is fundamentally changing the banking industry worldwide. To day, the click of the mouse offers customers banking services at a much lower cost and also empowers them with unprecedented freedom in choosing vendors for their financial service needs. No country today has a choice- whether to implement E-banking or not given the global and competitive nature of the economy. ICICI have toupgrade and constantly think of new innovative customized packages and services to remain competitive.
The invasion of banking by technology has created an information age and commoditization of banking services. ICICI have come to realize that survival in the new e-economy depends on delivering some or all of their banking services on the Internet while continuing to support their traditional infrastructure. The rise of E-banking is redefining business relationships and the most successful banks will be those that can truly strengthen their relationship with their customers. Without any doubt, the international scope of E-banking provides new growth perspectives and Internet business is a catalyst for new technologies and new business processes.
Following thing I referred to done the project:-
(i) The Akola Urban Co-operative Bank Annual Report.
(ii) Bare Banking Regulation Act 1949
(iii) Banking – Theory, Law & Practice :- E.Gordon & K.Natraj (iv) Co-operatives Banking Act
Dear SIR/MADAM, I am conducting survey on ICICI. I shall be very thankful to give your few minutes to me for answering my few questions below.
Contact no: ____________________________________
Gender : Male Female
E-mail Id : _______________________________________________________
Courtney from Study Moose
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