A PROJECT REPORT ON ANALYSIS OF CUSTOMER SATISFACTION WITH RESPECT TO SELECTED BANKING SERVICES OFFERED BY ICICI BANK Project Report

Submitted to Guru Gobind Indraprastha University in Partial Fulfillment of the Requirements for the Award Of BACHELOR OF BUSINESS ADMINISTRATION (2011-2014) By: AJAY SETHI Under The Guidance of: Mr. ANKUR BUDHIRAJA

New Delhi Institute of Management Tughlakabad Institutional Area New Delhi-110062

CERTIFICATE This is to certify that AJAY SETHI has successfully completed the research project titled ANALYSIS OF CUSTOMER SATISFACTION WITH RESPECT TO SELECTED BANKING SERVICES OFFERED BY ICICI BANK as the partial fulfillment of the requirement for the award of degree of Bachelor Of Business Administration by Guru Gobind Singh Indraprastha University, New Delhi (2011-2014)

To best of my knowledge the report is original and has not been copied or submitted anywhere else . It is an independent work done by him.

FACULTY: BUDHIRAJA PLACE: MANAGEMENT

ANKUR

NEW DELHI INSTITUTE OF

ACKNOWLEDGEMENT

The present work is an effort to throw some light On ANALYSIS OF CUSTOMER SATISFACTION WITH RESPECT TO SELECTED BANKING SERVICES OFFERED BY ICICI BANK The work would not have been possible to come to the present shape without the able guidance, supervision and help to me by number of people.

With deep sense of gratitude I acknowledge the encouragement and guidance received by Mr. ANKUR BUDHIRAJA (Faculty Guide) who not only played the role of my Philosopher and Guide at New Delhi Institute of Management, New Delhi but also mentored me at every stage of my project work. I would like to extend my heartily thanks to entire Faculty of BBA department for their constant cooperation and support to take decision during the course of my research. Indeed I shall remain ever grateful to them. I would also like to thanks the help and assistances rendered to me during the period of the project by the institutes library and computer laboratory management and all those my friends whose name could not be mentioned. And last but not the least I would like to thanks my parents for their immense support and blessings without which I cannot dream of making this project. The experience I gained during this research project is of immense importance to me academically and more so professionally.

AJAY SETHI

PREFACE

The project . was collected on primary basis, a study of the future and current status of customer satisfaction at ICICI. An attempt was made to find whether the customers are actually satisfied or not.

The project was mainly undertaken to determine what are the chances of new customers becoming regular customers n how is it done.

Various recommendation were presented in such a manner that would help ICICI understand its targeted requirements better and provide a basis for the effective ways o customer satisfaction

The results obtained showed that most of the ICICI customers are satisfied with the services provided by ICICI.

CONTENTS

Certificate Acknowledgement Preface Executive Summary Introduction Chapter 1: Banking Industry Chapter 2: Company Profile ICICI Corporate Profile Business Review Mission Vision Objective of ICICI Group Services Provided by ICICI

Maintenance of Accounts Chapter 3: Comparison Chart Chapter 4: Research Methodology Rationale for the Research Objective for the Research Data Collection Method Why Questionnaires

Sampling Unit, frame, size Chapter 5: Customer Satisfaction Marketing Concept Customer Focus is Business Democracy Customer Satisfaction Programme Chapter 6: Findings and Data Analysis Fund Inflow Details Banking Details Impact of Business of the Company on Investment Pattern Chapter 7: Limitations of the Study Chapter 8: Conclusion and Recommendations Chapter 9: Annexures Bibliography Questionnaire

EXECUTIVE SUMMARY

ICICI Bank Ltd is the second largest bank in terms of Balance Sheet size In the Indian Banking Fraternity. Also it is the largest new generation Bank in terms of branch network. ICICI Bank Ltd a Scheduled Commercial Bank, was promoted by ICICI (One of the leading Financial Institution established in 1955 at the initiative of Govt. of India and World Bank) in the year 1994. The ICICI Bank has grown at a very fast pace to meet the demands of its clients in line with our expectations. ICICI Bank offers a wide range of product to meet the specific need of every segment of the society starting from Youngster account meant for children in the age group of 0-18 to special product for senior citizen. In the same way it had a product for Special category of customer viz Trust Association Societies and Clubs (TASC) Which is a part of TASC & Defence under which I worked, thus TASC & Defence being the premium segment under the retail channel liability group (RCLG) constitutes main focus on generating business Both Incremental as well as fresh business in terms of value. Thus to focus on its objective of extracting Incremental business through exisisting client, its a policy of ICICI Bank Ltd. to time and again review back the exisisting clients

database, for generating business as well as to take a feedback towards its

services.

The objective of this project is comprehensive and comparative study of the customer satisfaction in ICICI Bank. And a detailed analysis with the conclusions is being provided at the end.

INTRODUCTION
Customer satisfaction with a company's products or services is often seen as the key to a company's success and long-term competitiveness. In the context of relationship marketing, customer satisfaction is often viewed as a central determinant of customer retention. It has long been associated with the concept of customer loyalty and retention, however recently the concept has been under criticism, as many research hers question the role of satisfaction and customer retention. Taking the case of banking industry, studies conducted by Reichheld (1999) suggest that a high volume of satisfied customers do switch to competitors services, thus it can be argued that customer satisfaction may not necessarily lead to customer retention. Moreover, Grnhaug and Gilly (1991) argue that dissatisfied customers may remain loyal because of high switching costs. Establishing a new relationship represents some sort of investment of effort, time and money, which constitutes significant barrier to the customers taking action when dissatisfied with a distinct interaction during a relationship (Kaj Storbacka, Tore Strandvik and Christian Grnroos).

According to Kotler (1991), satisfaction is the post-purchase evaluation of products or services, given the expectations before purchase.

Satisfaction is dependent on the ability of the supplier to meet the customers norms and expectations (Dwyer et al. 1987; Fornell, 1992; Oliva et al. 1992). Acknowledging that customers who have low expectations and receive an average level of service will have a higher degree of satisfaction than those who have higher expectations and receive an average service, organizations must consequently attempt to influence customers expectations, as this will enable them to reduce any differences that may occur between what the customers expect and receive. The customers are satisfied when their expectations of values are positively met (Buttle 1996).

On the contrary, it can be ascertained that an organization will benefit from a customer-centered culture, and this approach requires senior management commitment, in order to successfully convey a customerfocused culture to the employees. The organization must give appropriate training to employees in areas such customer service so that they can address customer concerns, and further be given enough autonomy if need be to possess the power to change policies and alter compensation to customers (Priluck 2003).

Satisfaction has been viewed as a key driver in creating positive word of mouth behavior, as Claycomb and Martin (2002) suggest this method of communication is particularly influential when the level of service varies. Therefore the banking industry is continuously making efforts to differentiate themselves on factors such as customer service/satisfaction as part of an overall business strategy. Satisfaction is a necessary step in loyalty formation (Buttle and Burton). Hence, many organizations are under severe pressure to achieve high satisfaction and customer delight in the hope to create customer retention (Reichheld et al 2000).

Customer Loyalty
The objective of RM is to turn new customers into regular customers and slowly move them towards being a strong supporter of the organization, and lastly turning them into loyal advocates and a referral source that should promote positive word of mouth. This can also be seen in figure 2.4. The progress of the relationship along this ladder is achieved by integrating the three key concepts of marketing (the gathering of information on customers and the identification of segments of users with similar needs), quality and customer service.

The Relationship Marketing Ladder of Customer Loyalty Advocate Emphasis on developing and enhancing Relationships (Customer Keeping).

Supporter Client

Customer

Prospect

Emphasis on new customers

Henning and Thurau et al (2002) state loyal customers are often less cost intensive than gaining new ones, and that the expenses for customer care reduce during the latter stages of the relationship due to the growing expertise of experienced customers.

Moreover, as Singh and Sirdeshmukh (2000) state, that in the early 80s loyalty was regarded to be one of the most fundamental drivers of a companies profitability, and in the 21st century customer loyalty is emerging as the marketplace currency (Reichheld 2000). Therefore this concept cannot be ignored when discussing the phenomenon of relationship marketing.

Bloemer and Ruyter (1998) define loyalty as: The biased behavioral response, expressed over time, by some decision making unit with respect to one (supplier) out of a set of (suppliers) which is a function of psychological (decision making and evaluative) processes resulting in brand commitment.

Customer loyalty can be regarded as one of the first building blocks towards customer satisfaction. However, many organizations find it difficult to strike a balance between attracting and retaining new customers, as some feel that new customers are not critical, although they may appear to be vital to some organizations.

1.

Chapter 1
BANKING INDUSTRY
The early history of Indian banking and finance was marked by strong Governmental regulation and control. The roots of the national system were in the State Bank of India Act of 1955, which nationalized the former Imperial Bank of India and its Seven associate banks. In the early days, this national system operated along side of a large private banking system. However, in two acts of nationalization in 1969 and 1980, the government nationalized the largest private sector banks in order to bring the bulk of the banking system under direct governmental control. Following the nationalizations in 1969 & 1980, the governmental banks share of bank assets jumped from 31% to 92%. the objective of this strong national influence was to make the banks Public instruments of development with the government having control over where and How funds were raised and lent. The result of the national control of the banks was a gradual decline in productivity and a rise in non performing assets. Banks were limited in their operational flexibility by the governments desire to maintain employment in the banking system and were often drawn into troublesome loans in order to further the governments social goals. In 1991, the problems in the system reached a critical breaking point and the government formed a commission led by A. Narasimbam to examine the problems and recommend changes. This commissions report was the basis of the reforms that took place during the 1990s and early 2000s.

The deregulations covered many different aspects of banks deposits. The most.important deregulation was that of interest rates. Per the
commissions suggestion, interest rates were gradually deregulated, first within broad bands and more recently completely free. Within the past few years, Indian banks have been able to develop for the concept of a yield curve, and offering deposit of

different durations.

rates Other to

different

credit

qualities include,

important lend to new

deregulations guided into

easing

requirements provisions

governmental entrants

priority banking

sectors, system,

allowing

the

deregulation of insurance and the establishment of cross selling, and a move towards international standards in asset quality ranking and reserve requirements. The deregulations have had the effect of increasing the competition of private sector banks and changing the way that governmental banks operate. The public sectorbanks are now free to raise capital from the equity markets and most of them have done so. The government is still obligated to hold greater than 51% of the public sector bank equity and the banks are still held accountable to the parliament, however there is a growing percentage of outside ownership.

Chapter 2.
COMPANY PROFILE

ICICI CORPORARE PROFILE

ICICI was created in 1955 with specific objective of meeting the Financial requirements of the Indian industry in area of project funding, to Facilitate rapid industrial development of the economy, in line with The economic objectives of the time. ICICI was therefore in sense a Creation of Indian Corporate Sector, with the institutions basic character being To provide service and facilitate the growth of Indian Corporate sector.In the decades following the inception, ICICI fulfilled its principle mandate by playing an active role, in conjunction with other financial institutions, in extending financial assistance to projects in diverse industrial segments, thereby promoting the cause of industrialization of the country. ICICI played a key role in nurturing the entrepreneurial spirit of the Indian businessman and provided team with an avenue for the realization of their dreams. In this capacity, the role of ICICI and other financial institution was crucial in making available necessary financial capital for creation of industrial assets to entrepreneurs who possessed the idea but required the necessary capital to implement them.ICICIs unique standing among the public financial institutions as the only private sector institution in the country imposed on it the dual responsibility of meeting customer expectations while operating within the national developmental policy framework. It is the consistent reconciliation of these dual objectives that has led to the creation of consistent and lasting shareholder value. The final decade of last century unleashed unprecedented

competitive pressures on the Indian economy fuel primarily by the deregulation of the economy and advancement in technology. These factors changed the competitive dynamics in the Indian business environment, heralding the emergence of new leaders in various segments, development of new age industries and the services sector, and an overall secular shift towards improvement in operating efficiencies. The
evolution of new generation technology platforms coupled with

increased globalization of the Indian economy blurred the parameters of conventional business paradigms .These forces also shaped vast changes exciting in the financial but services also sector. The period risks, afforded for the

prospects,

hitherto

unknown

financial services industry. The financial sector reforms over the past decade coupled with the impact of the above-mentioned factors resulted in Indian financial sector seeking new frameworks to

succeed in the Changing environment. ICICI adopted the framework of universal banking represented internationally by banks like

Citibank, Chase Manhattan, UBS etc. ICICI relished the benefits of this model way back in 1996 by transforming itself from a term lending institution to a virtual universal bank. The group provides corporate divisions and and retail group financial companies. services These through include its term various lending

activities, life and general insurance, personal finance, mortgage, investment banking, broking, Infotech services etc. During this

period, ICICI successfully maintained its focus on continuing to serve the Indian corporate world evolving new competencies to meet changing client requirements and expanding its basket of financial offerings to offer increasingly sophisticated financial solutions to them. ICICI created an umbrella brand, which was set as group

identity for all its visible interactions with the client whether retail or corporate. Six years ago ICICI started ICICI Bank

realized that their resources have to come from retail side; the quantum required was not sufficient from conventional sources. The bank became hugely successful, greatly increasing the visibility of ICICI brand. The bank was aggressive from the beginning targeting both retail and corporate. The banks like HDFC bank and ICICI bank, tried to fill in the void between the services of state owned PSU banks and the Suave Foreign banks. The bank along with HDFC Bank and the new private bank provided an Indian alternative to the foreign banks to corporate looking forward to good services. The bank

invested heavily into technology developing platforms, for better and improved services. Over the past six years ICICI and ICICI Bank has demonstrated the exciting possibilities offered by group wide cross-selling through synthesizing the whole range of product,

services, distribution capabilities under one umbrella Brand. The growth trajectory of both the institutions along with their bottom line shows the success of this strategy. We saw the culmination of this strategy in form of the merger of these two ICICI Ltd and ICICI bank. The Merger brings together two complementary organizations

having similar operating structure, people processes and catapults the combined entity to be Indias second largest bank after State bank of India with an asset base of more than Rs.1Trillion. The merged entity is thus well positioned to harness synergistic

advantages and economies of scale to create exciting propositions for their stakeholders. The merger diversifies their resource base, lowers business risk and provides wider spectrum of income streams. On the business front this is an opportunity to harness ICICIs large capital base and the existing relationships with ICICI banks operational flexibilities as a commercial bank, to unleash a larger suite of products riding on the technology enabled distribution

architecture. The ability to offer complete suite of retail products

though this merger also results in better returns due to inherently higher risk adjusted returns on retail assets and continuous squeeze in margins in corporate lending. It also offers greater potential as most retail and corporate products are in nascent or developing stage of their life cycle in India. One major area of thrust of the combined entity would be on developing fee based income component in their total income, through a greater focus on fee based products such as cash management services, forex services, trade services etc. In keeping with this strategy the bank would be trying to evolve from a customer centric model to a relationship based model providing the full of range of financial solutions and through needs, better

understanding personalized This would

the

client designed link

requirements to of address the

building

products require

specific

requirements. chain to

every

product

service

operate at highest efficiency levels with seamless integration of all delivery channels. Merged ICICI bank seeks to achieve this

evolution by leveraging its established building blocks of:

Culture/Organizational Structure Organizational Values Brand identity Quality and efficiency Four Capitals: human, knowledge, technology and speed

The speed of execution, faster product development time, better Integration of technology, greater understanding of customers requirement, tailor made products, quality of human talents would be the key differentiating factor which would define the competitive scope of the bank in future. Post merger

ICICI Bank seems ready to take on the challenge and achieve its mission of being a market leader"

BUSINESS REVIEW (a). Retail Banking

The retail banking business is the key driver of ICICI Banks growth strategy, with the objective of diversifying the asset portfolio and building a low-cost stable resource base. With complete product suite across both asset and liability products as well as a wide range of banking services, ICICI Bank is today a retail financial supermarket with he ability to cross-sell the entire range of credit and investment products and other banking services to our customers. The key dimensions of our retail strategy are products, channels and processes, underpinned by a strong customer focus. Changing demographics and the trend towards upward migration in income levels coupled with existing low retail credit penetration levels have created a major growth opportunity in retail finance. ICICI Banks retail assets business is capitalizing on this opportunity with a competitive positioning and strategy comprising. Innovative products, wide distribution, strong credit control and high customer service standards and rapidly growing volumes in each segment to achieve economies of scales. ICICI Banks retail asset product includes mortgages, automobiles and two wheeler loans, commercial vehicles and construction equipment financing, consumer durable loans, personal loans and credit cards. In the mortgages business, ICICI expanded the reach to more than 140 locations across the country. They were the first to introduce adjustable rate home loan, with

interest rates to a floating prime lending rate this product received excellent response from the customers across the country and was a key driver of growth in the mortgages segment. It also enabled them to price loans competitively and achieves better asset- liability management. Other products and products variant introduced this year included loans against property as well as several value- added features retail property services and home insurance policies bundled with the loan. During fiscal 2002 they emerged as a leading player in the mortgages business. During fiscal 2002 ICICI consolidated its position as clear market leaders in automobile loans. We expanded our distribution network to 145 cities and towns across the country. The key drivers of growth were the strength of their corporate relationships with leading automobile manufactures, strong distribution capability and customer service focus. They rapidly increased their presence in other segments as well. They were able to offer competitive products to their customers by leveraging economies of scale resulting from the rapid growth in operations In the credit cards business they expanded their distribution to36 locations. The total numbers of cards in force increased by 450,000 to about 650,000 at the end of fiscal 2002.During the year they launched two co-branded cards, with Hindustan Petroleum Corporation Limited (HPCL) and BPL Mobile respectively. they also entered the merchant acquiring business during the year. ICICI Bank is the largest incremental issuer of cards (including both debit and credit cards) in India. ICICI Bank s Ncash debit card is a deposit access product that allows cash withdrawals through ATMs and also enables purchase at merchant establishments with point of sale terminals. The card is valid internationally and earns loyalty points on usage. We also introduced a domestic debit card variant

primarily for our payroll customers .As at March 31, 2002, ICICI Bank had issued about 600,000 debit cards. During fiscal 2002, ICICI Bank also implemented two smart card projects, at a corporate worksite and an educational institution In order to reduce their funding cost and create a stable base, they continued their focus on retail deposits in fiscal2002. The number of customer accounts increased from 3.2 million to over 5 million. ICICI Banks life stage segmentation strategy offering differential liability products to various categories of customers (kid e-bank for children bank@campus for students, Power Pay for salaried employees, ICICI Select for high net worth individuals and Business Multiplier for businessmen) contributed significantly to the rapid growth in the retail liability base. They have developed a successful third party distribution model with a growing market share in distribution of mutual funds. Reserve Bank of India relief bonds and insurance products. This allows them to meet all customer needs through products that they offer directly while leveraging our distribution capability to earn fee from third parties. ICICI also provide online service facilities through www.ICICIdirect.com. ICICIdirect provides complete end-to-end integration for seamless electronic trading on the stock exchanges and has been rated t*a1 by CRISIL, indicating highest ability to service broking transactions. ICICIdirect has also launched Indias first Digitally Signed Contract Notes (DSCN), which allows a customer to view and print their contract notes online. ICICI Bank has pioneered a multi channel distribution strategy in India, giving our customers 24*7 access to banking services. The enhanced convenience that this offers the customers has supported their customer acquisition efforts and migration of

customer transactions from branches to lower cost technology enabled channels. During the year, ICICI Bank continued to expand its non branch channels aggressively and successfully migrated customer transaction volumes to these channels. Only 35%of customer induced transactions now take place at branches. ICICI Bank set up over 500 new ATMs during fiscal 2002,taking the ATM network to over 1,000 ATMs. Master, Cirrus and Maestro cards can now be used on all their ATMs. Other new initiatives on ATMs include multilingual screens, bill payments and prepaid mobile recharge facility. ICICI Bank now has over one million retail Internet banking accounts. Retail Internet banking customers can view their bank accounts, transfer funds between their own account and to any other ICICI Bank account. ICICI Bank also offers the facility of transferring funds to accounts in any branch of any bank, in eight cities through ECheques, Indias first internet based inter-bank fund transfer facility. Customers can also open a fixed or recurring deposit, make a stop cheque request and inquire into the status of a cheque online. Customers can write to the account manager through a secure channel and subscribe to account statement by e-mail. ICICI Bank offers its customers the facility of paying utility bills online in over 120 cities in India. All major online shopping services are linked to ICICI Banks online payments facility. ICICI Bank has also focused on the call center as a key channel. ICICI Banks call center can now be accessed by customers in100 cities, and is Indias largest domestic call center. The call center is a single point of contact for customers across all products. It provides various self-services options and also personalized communication

With customer service officers for a full range of transactions and account and product related queries. The call center is now evolving into a complete relationship management channel not only for complaint resolution but also for cross- selling on inbound calls. The calls center uses state-of the-art voice over Internet protocol technology and cutting edge desktop applications to provide a single view of the customers relationship. ICICI Bank s mobile banking services provide the latest information on account balances, previous transactions, credit card outstanding and payment status and allow customers to request a checkbook or account statement. (b).

Corporate Banking

ICICI Banks corporate banking strategy is based on providing customized financial solution to clients, tailored to meet their specific requirements. The corporate Strategy focuses on careful management of credit risk and adequate return on risk capital through risk-based pricing and proactive portfolio management, rapid growth in feebased services and extensive use of technology to deliver high levels of customer satisfaction in a cost effective manner. Their focus in fiscal 2002 was on expanding the range and depth of our corporate relationships, acquiring new clients and cross-selling all their corporate banking products and services to the existing client base. They continued to focus on working capital finance for highly- rated clients, structured transactions and channel financing. In longer term loans, in the absence of traditional capital expenditure financing opportunities and limited corporate credit growth, ICICI Bank has taken advantage of emerging opportunities in the public sector disinvestments process, through structuring and advisory services. They focused on transaction banking services such

as cash management and non fund based facilities such as letters of credit and bank guarantees to increase their market share in banking fees and commissions. They have already achieved significant success in cash management services, with total volume of Rs.1.72 trillion for fiscal 2002.They also targeted high value current accounts to reduce their cost of funding. They implemented a customer level profitability based pricing model. As the pioneers of securitization in India, they were successful in creating a market for securtized corporate debt, which would help to expand and deepen the debt markets. During the year they enhanced their technology-based delivery platforms and expanded the scope of their web-based services. ICICI Bank provides Internet banking services to its wholesale banking clients through ICICImarkets.com, a finance portal that is the single point web-based interface for all their corporate clients. The Corporate Internet Banking (CIB) platform of ICICI markets allows clients to conduct banking business online in a secure environment Clients can view accounts online, transfer funds between their own accounts or to other accounts, and avail of other such services. ICICI Bank offers forex trading through the Internet on FXOnline and Government of India securities trading through Debt Online. The corporate banking business is organized into special relationship groups for the Government and public sector, large corporates, emerging corporates and agribusiness. ICICI bank has strong linkages with several large public sector companies, and is leveraging these relationships to expand the range of services that it offers to them. ICICI Bank has also established relationships with several state governments, having financed state-level enterprises. Besides, ICICI Bank has been empanelled in eight states for collection of sales tax. ICICI Bank is also involved with several other

state government initiatives. In the corporate client segment, ICICI Bank is focusing on increasing its share of banking business with its corporate clients. In the emerging corporate segment, ICICI Banks focus is on establishing structured financing arrangements and implementing a liability led business strategy, providing sophisticated banking services to its clients. ICICI Bank is working with state governments and agri based corporates to evolve viable and sustainable systems for financing agriculture. ICICI Banks dedicated Structured Products &Portfolio Management Group with access to expertise in financial structuring and related legal, accounting and tax issues, actively supports the business groups in designing financial products and solutions. This group is also responsible for managing the asset portfolio by structuring portfolio buyouts and sell downs. The enhanced capital base consequent to the merger will significantly increase ICICI Banks ability to leverage its strong corporate relationships and provide non fund based facilities and trade finance services to its corporate clients. ICICI Bank is leveraging technology to set up processing facilities to process large transaction volumes, thereby benefiting from economies of scale. A dedicated Corporate Operation & Technology Group has been set up for developing and managing back office processing and delivery capabilities.

(c). Treasury
The original responsibilities of the Treasury include management of liquidity and exposure to market risks, mobilization of resources from domestic and international financial institutions and banks, and proprietary trading. Additionally, the Treasury is leveraging its strong relationships with financial sector players to provide a wide

range of banking services in addition to its liability products. The Treasury is also responsible for ICICI Banks capital market and custodial services operations. During fiscal 2002, the focus was on the challenge of meeting regulatory reserve requirements on ICICIs liabilities prior to the merger. This posed the dual challenge of raising resources for meeting the reserve requirements and managing the interest risk arising from the acquisition of Government securities aggregation as about Rs. 180.00 billion in an environment of low interest rates. Yields on Government securities reached historic lows during 2001-2002 as a consequence of the easy liquidity environment and RBIs soft-interest-rate policy. To minimize the risk of adverse mark-to-market impact on any rise in interest rates, ICICI Bank adopted a strategy of acquiring securities of lower duration. A significant portion of the requirement of Government securities was acquired through active participation in primary auctions of floating bonds and short- maturity Treasury bills The focus of trading operations was active, broad-based market-making in key markets including corporate bonds, Government securities and interest-rate swap markets. Substantial reduction in interest rates provided on opportunity to capture gains in the fixed-income market by active churning of the trading portfolio

(d). Project Finance And Special Asset

Their project activities include financing new projects as well as capacity additions in the manufacturing sector and structured finance to the infrastructure and oil, gas and petrochemicals sectors. Over the years, they have developed considerable expertise in financing complex project finance transactions and effectively allocating the associated risks. ICICIs presence has been viewed by most sponsors as critical to the success of their projects, on account of itself proficiency in developing enforceable

contract models, syndicating requisite funds and working out complex issues related to Government regulations. Its project finance business is focused on structuring and syndication of financing for large projects by leveraging our expertise in project financing, and churning its project finance portfolio to prevent portfolio concentration and to manage portfolio risk. They view our role not only as providers of project finance but as arrangers and facilitators, creating appropriate financing structures that may serve as financing and investment vehicles for a wider range of market participants. Project financing is done basically in 1. Infrastructure Sector 2. Manufacturing Sector 3. Special Assets Management

(e). International Business

ICICI have already established a presence in the international markets, primarily in the areas of information technology, investment banking and banking products and services for the Non-Resident Indian (NRI) community. They believe that the international markets present a major growth opportunity and have therefore expanded the range of their international business initiatives. The International Business Group was set up in fiscal 2002 to develop and implement a focused strategy for the international business. The international strategy is based on leveraging home country links for international expansion by capturing market share in select international markets. The critical strengths, which can be leveraged to create value, include strong relationships with

domestic corporate, preferential access to local currency markets, strong domestic distribution network and cultural ties with the home country. The initial focus areas would be supporting Indian companies in raising corporate and project finance for their investments abroad, trade finance, personal financial services for NRIs and international alliances to support domestic businesses. They have identified the United States, United Kingdom, the Middle East and SouthEast Asia as the key regions for establishing their international presence. They have already established Representative Offices in New York and London and are awaiting regulatory approval for offices in Singapore, Canada and United Arab Emirates.

MISSION
To identify and support initiatives, which are, designed to improve the capacity of the poorest of the poor to participate in the larger economy. These initiatives must be cost effective, capable of large-scale replication and should have the potential for both near and long-term impact. To leverage technology in order to overcome constraints and enhance the effectiveness of various social initiatives

VISION
To be the preferred brand for total financial and banking solutions for both corporate and individuals.

In line with its vision statement, ICICI has capitalized on market opportunities to stretch the borders of its business and has evolved from a project finance institution to a financial supermarket providing end-to-end financial services to corporate and retail customers. Today, the ICICI Group offers products and services in the area of corporate banking, Commercial banking, insurance, personal finance services, investment banking and venture capital providing fulfillment to practically all the financial needs of individuals and companies.

OBJECTIVE OF ICICI GROUP

The ICICI group has consistently focused on building shareholder value as its primary objective .The approach to shareholder value creation has extended beyond delivering near term financial results, to developing a sustainable, long-term value proposition. The key elements of the strategy have been to capitalize on new business opportunities build a brand and distribution capability leverage technology, establish robust systems and processes and develop one human capital. They believe that these elements are essential enablers of future growth. After the merger of ICICI financial institution with ICICI bank it entered into new businesses and those were housed in separate entities to foster entrepreneurial spirit and independent initiative in the startup phase. This ha led to the development of completely new technology-driven business paradigms. The merger has enabled seamless delivery of the complete range of banking solutions to corporate clients thus becoming Indias first UNIVERSAL BANK. This Universal Banking Strategy provides a full complement of financial products and services to customers in India and with the entry of ICICI Bank into the international arena, also a service and product proposition overseas. Thus the objective is to build up committed teams of intelligent, spirited and dynamic professionals to harness these resources and implement the strategy. Leading organization creates opportunities and expands their horizons continually. The objective of ICICI group is to adopt global best practices to deliver financial solutions to their customers to convert India- linked banking opportunities in the selected international markets.

SERVICES PROVIDED BY ICICI

ICICI treasure building a relationship with the customer, developing an understanding of customers changing financially needs at different strategies of your life. Their long heritage of nearly 150 years has enabled them to change with time, offering quality products by means that are convenient to customer.

ICICI offer includes:

Personal Finance Credit Cards Priority Banking Investment Advisory Services Personal Investments Insurance Deposits and Retail Services Retail FX Products

1. PERSONAL FINANCE

Mortgages
In many of the markets where ICICI operate, especially in key markets of Hong Kong, Singapore, Malaysia, they are reported to be the market leader for mortgages. Their experienced and dedicated teams will guide the individual in every single step to enable him a smooth and hassle-free experience, offering him rates and repayment packages most suitable. Start by trying our instant approval service.

Unique Features

Low interest rates, option of flat or reducing interest rates Low EMI (equated monthly installments No hidden costs like processing charge. Everything is done up front. Quick approval and realization Tax benefits No unfair collateral demands A simple mortgage process.

Personal Loans
ICICI helps the customer to be in control of his/ her own finances. Personal Loans, without any guarantees or collaterals, are available to customer to meet specific credit needs. Choose Installment Loan or Revolving Loan, whatever suits best. Whether planning a vacation, re-decorating home, paying for childs college education, or simply wish to have a standby line of credit for unforeseen expenses, ICICI Banks Personal Loans can help fulfill the dreams. Personal loan is specially designed to get the money need in time, without having to answer unnecessary questions, and without any collateral or mortgages.

Unique Features

Choose the repayment plan most convenient, ranging from a compact 12-month period to a comfortable 36-month span.

Free to use the money for renovating house or meeting some unexpected expenses etc.

No collateral or security Quick and easy processing.

2. CREDIT CARDS ICICI Visa and MasterCard credit cards

ICICI credit cards provide financial flexibility, worldwide acceptance, and round-theclock convenience.

Benefits:
Welcomed at the largest number of merchant outlets across the world. Revolving credit facility, allowing repaying card outstanding over time, at a convenience. Cash withdrawal in local currency at Visa and MasterCard linked ATMs across the world. Platinum, Gold or Classic Cards to suit lifestyle and needs. Smart credit cards with special privileges and security Attractive rewards programs.

Affinity and co branded credit cards that give additional benefits from our partners.

World-class service assistance and 24-hour customer help line.

3. PRIORITY BANKING
Experience new standards in banking. And lead a life of privilege and preferred financial solutions tailored perfectly for you with Priority Banking from ICICI. Designed specially for those who appreciate only the finest things in life, Priority Banking offers the very highest levels of personalized banking to match unique status. By embracing a holistic approach to financial well being and commitment to personal Wealth Management with a full range of innovative products and services, a customer will find banking with a reassuring and secure experience. Bank is committed to helping a plan, build and protect wealth by offering individual attention as well as international banking and investment opportunities to meet current and future needs. ICICI Bank Priority Banking is created specifically for a chosen few individuals, who will settle for nothing but the best and demand the highest standards of service in all your banking relationships.

Unique Features
Personalized Priority card will give instant recognition of priority status at all branches of ICICI, worldwide.

A dedicated Customer Relationship Manager trained to understand specific financial needs and help to manage assets at home and abroad. It is as personalized as can be.

Preferential pricing on our various products. Entitled to exclusive benefits. A complimentary pre-approved Gold Credit Card Commission free VISA travelers cheques Special foreign exchange rates Special invitations to exclusive events Many account facilities, which are absolutely free of charge. Priority Banking. Its like owning the bank.

4. INVESTMENT ADVISORY SERVICES

The ICICI Investment Advisory Services is comprehensive process that assists in planning for future. With this service, they can help to review financial goals, conduct a financial health check, evaluate risk profile and customize an asset allocation plan to realize financial aspirations.

5. PERSONAL INVESTMENTS
ICICI is the leading independent distributor of unit trusts and mutual funds in Asia. Because they dont actually manage their own investment funds, they are absolutely objective in fund evaluation process. Bringing unmatched skill, expertise and know

how to seek the best performing investments around the world, it can be assured of different investment options and a wealth of informative and relevant updates. With trained Investment Services Consultants from countries around the globe, they can help to make the right investment decisions. Using a unique risk evaluation to gauge the level of risk customer can be comfortable with, coupled with a proprietary fund evaluation process to identify funds, assess risks and shortlist top-performing funds; customer can be ensured of a personalized investment portfolio catered to needs. ICICI Bank Investment services puts a whole new world of possibilities within the reach of people who would like to achieve their financial goals but have many other demands on their time.

Unique Features
A one-stop shop offering a wide range of investment options to grow your wealth. Available across 8 cities Trained investment services counselors Sophisticated research franchise Impartial and unbiased analysis on options best suited Tailor made investment plans suited to risk taking ability.

6. INSURANCE

ICICI recognizes the things important to customer and his family. They are dedicated to protecting the customer, his family, and his hard earned assets and even his future earnings giving him the assurance he needs. Their strategic alliance with Prudential and CGU Insurance puts us in a very strong position to provide for Life and General Insurance needs. With a comprehensive range of products, ICICI is set to protect the World.

7. DEPOSITS AND RETAIL SERVICES Deposits

ICICI offers a wide array of deposit products in both local and foreign currencies to help to earn competitive interest rates. Their international network offers an extra convenience while abroad. In some countries, they offer premium interest savings plans like Higher Education Fund to turn the dreams into reality.

Retail Services
ICICI offers a comprehensive range of retail services in many countries. These include: Automated banking services Demand drafts Foreign exchange services Local and foreign currency cheques Safe deposit boxes Telegraphic transfers

Travelers cheques

8. RETAIL FX PRODUCTS
ICICI is now offering valuable customers an easy and flexible way to invest in foreign currencies. They provide high flexibility to enable sophisticated investors to capitalize on opportunities in the currency markets. Some of the Retail FX products include: FX Margin Trading Currency Trading Premium Currency Deposit Principle Protected Currency Deposit

ADDITIONAL SERVICES

1. INTERNET BANKING
Youre banking needs now taken care of at the click of a mouse.With Secure Internet Banking ID and Password, a customer can login and take care of his / her banking and credit card needs at his / her convenience and time. No more queues, no more waiting

2. PHONE BANKING

As part of commitment to meeting all needs, ICICI offer Phone Banking a service that enables you to access a wealth of financial information, 24 hours a day, 7 days a week. Through Phone Banking: Check your account balance Get details about specific transactions Inquire about the status of a particular cheque. Order demand drafts Transfer funds amongst your linked accounts Get information on deposit rates, lending rates, exchange rates and bank charges. Access information on any of our products and services Call Room Service to open your account Make complaints and suggestions

3. MOBILE AND E-MAIL ALERTS

ICICI always try and make life simple. Mobile and E-mail Alerts service is designed just for that.

4. SMARTFILL DEBIT CARD

Smart fill Debit Card, launched in association with Bharat Petroleum, will help to save on fuel purchases and even gets you free fuel.

Unique Features

Earn reward points every time you use the card to make purchases ANYWHERE, which you can then redeem for fuel at select Bharat Petroleum outlets.

When the card is use to make purchases at select Bharat Petroleum outlets, the customer dont have to pay the 2.5% surcharge levied on most credit or debit cards.

Smart fill Debit Card is globally valid. It gives access to 12 million merchant establishments worldwide and over 55,000 in India.

A customer can access over 3500 ATMs in India for FREE* and over 750,000 ATMs worldwide through the Visa ATM network.

The card gets an exclusive discount of 5% at select In & Out stores at Bharat Petroleum outlets, besides benefits at leading retail outlets and restaurant.

5. ATM
ICICI ATMs give the freedom to conduct most of the banking transactions 24 hours a day, 365 days a year. The ATM card is and absolutely free. There are no transaction charges on the use of card. Whats more, use ATM card at any of the 70 ATM centers across the country.

6. CREDIT CARD HELP-LINE

As part of commitment to meeting all needs, ICICI offer the facility of calling them over the phone to access a wealth of information on credit cards, 24 hours a day, 7 days a week.

7. ELECTRONIC CLEARING SYSTEM

ICICI introduces ECS (Electronic Clearing System), an innovative facility for busy people. With this facility, Card bill amount automatically gets debited from your savings bank account, so that customer doesnt have to worry about the last minute payment rush. Since this entire process happens through the Reserve Bank of Indias electronic clearing mechanism, customer can enjoy the advantages of ECS.

8. FAX BANKING
Its the most efficient way to stay on top of the business finance. Every day, ICICI fax a report of all transactions made the previous day. Customer will still receive his / her regular monthly statements.

MAINTAINING ACCOUNTS WITH ICICI

DEPOSITS

Demand deposits

Time deposits

Saving account

Current account

Fixed deposits

Individual Saving account

Twin-one account

Parivaar account

Terms deposits rates

Tenor 15 days 29 days 30 days Less than 46 days 46 days Less than 2 months 2 months Less than 3 months 3 months Less than 6 months 6 months Less than 9 months 9 months Less than 12 months 12 months Less than 18 months 18 months Less than 24 months 24 months Less than 36 months 36 months Less than 48 months 48 months Less than 60 months 60 months Rate of Interest (% p.a.) 3.75% 4.00% 4.00% 4.00% 4.00% 4.25% 4.25% 4.25% 4.25% 4.25% 4.50% 4.50% 4.50%

Chapter 3.
COMPARISON CHART

Services 1. BRANCHES

ICICI 39(DEL)430(IND)

HDFC 19(DEL)210(IND)

HSBC 3(DEL)-28(IND)

2. ATMS(DEL/IND) 3. ATM/DEBIT CARDS 4. CHARGES FOR DEBIT CARD BANK 6. DEBIT CARD ACCESS

112(DEL)560(IND) ATM/DEBIT CARD RS.99/- p.a.

66(DEL)125(IND) ATM/DEBIT CARD RS.100/- P.A. NO YES (RS.55-100 PER TRANS) YES YES & YES YES 10AM-4PM NO RS.5000/RS.150 RS.500 PM RS.15000 NO FREE NO NO NO NO YES

21(DEL)103(IND) ATM/DEBIT CARD RS.150/- P.A. NO YES RS.50/TRANS YES YES PER

5. ATM CARD ACCESS TO OTHER NO TO YES (RS.50 PER TRANS) 8. LOCKER FACILITY 9. CHQ DEPOSITS BOXES YES (RS.750/-) ALL BRANCHES ATM 10. GLOBAL DEBIT CARD 11. GLOBAL CREDIT CARD 12. AVERAGE BANKING HOURS 13. SUNDAY BANKING 14. MINIMUM BAL-SAVING 15. CHARGES FOR MAINTAINING MIN. BALANCE 16. CASH WITHDRAWL/DAY/ATM BRANCH 18. STATEMENT CHARGES 19. 24 HRS BRANCH 20. 365 DAYS BRANCH 21. AUTOMATED CHQ REORDER 22. MULTI CITY BANKING 23. NATIONAL CLEARING YES YES FREE NO NO BOOK NO YES YES 9AM-4PM NO RS.5000/NON RS.300 PER QUARTER RS15000/-

OTHER BANK 7. CHARGES PER TRANSACTION

YES YES 9AM-4PM NO RS.10000/RS.300 PER QUARTER RS.25000/YES FREE NO NO NO YES YES

17. CASH TRANS FROM NON YES

24. SPEED CLEARING 25. NET BANKING 26. MOBILE BANKING 27. PHONE BANKING 28. DMAT 29. PRIORITY BANKING RATES 31. DOOR STEP BANKING 32. CHASH DELIVERY 33. CASH PICK UP 34. CHQ PICK UP 35. PAY ORDER

YES YES YES YES YES YES (10 LAC)

YES YES YES YES YES YES (10 LAC) YES NO NO NO NO YES

YES YES YES YES YES YES YES YES YES (CHARGED) YES (CHARGED) YES YES

30. FLEXIBILITY OF INTEREST YES YES YES (CHARGED) YES FREE ONCE A DAY YES

Chapter 4.
RESEARCH METHODOLOGY

Rationale for the Research

ICICI Bank Ltd is the second largest bank in terms of Balance Sheet size In the Indian Banking Fraternity. Also it is the largest new generation Bank in terms of branch network. ICICI Bank Ltd a Scheduled Commercial Bank, was promoted by ICICI (One of the leading Financial Institution established in 1955 at the initiative of Govt. of India and World Bank) in the year 1994. The ICICI Bank has grown at a very fast pace to meet the demands of its clients in line with our expectations. As on today, ICICI Bank has more than 450 branches in 222 center across 17 states and 2 UTs ours is the largest ATM network in the country with 1675 machines interlinked through a central switch. In New-Delhi (NCR) alone we have 150 ATMs . ICICI Bank offers a wide range of product to meet the specific need of every segment of the society starting from Youngster account meant for children in the age group of 0-18 to special product for senior citizen. In the same way it had a product for Special category of customer viz Trust Assosciation Societies and Clubs (TASC) Which is a part of TASC & Defence under which I worked , thus TASC & Defence being the premium segment under the retail channel liability group (RCLG) constitutes main focus on generating business in terms of value, Both Incremental as well as fresh business, thus to focus on its objective of extracting Incremental business through exisisting client, its a policy of ICICI Bank Ltd. to time and again review back the

exisisting clients database, for generating business as well as to take a feedback towards its services. Thus with this rationale behind the objective for the project was defined:

Objective for the Research

To find out the satisfaction level of the customers of different services offered by ICICI Bank and its customers complaints and the steps taken by it in customer care management.

Research design: -The research design used in this study is descriptive,

which includes interviews, questionnaire, and fact-finding inquiries with the

customer.

Research Tool: - A Questionnaire is being prepared which carries 19

question comprising both in the open & closed ended format.

Data Type: - Primary & Secondary both. Data Collection Method: - My main tool for collecting the data was a
questionnaire, which was designed thoroughly keeping the objective into consideration. This questionnaire has been designed to find out the ----1. Fund Flow of the existing clients 2. Investment patterns 3. And to know there aspect towards the services of ICICI Thus this questionnaire consists of 4 parts (a) Organization profile (b) Fund inflow details

(c) Banking Investment details (d) Usage of funds In all there were 19 questions judiciously prepared to suffice the objective of this research. The questions prepared are both open ended & close ended they were filled through a personal interview while other relevant informations were gathered through Internet

Why questionnaires?
Now-a-days questionnaire is commonly used to collect data that is specific and crucial for success of business venture. Without doubt questionnaire allow to gather information that can not be found else where from say secondary information such as book, news paper, and internet resources, this is because information collected is fresh and unique. Questionnaire helps in identifying the following key points Customer behavior towards various funds Investment His fund allocation pattern could be known. His Opinion for the product His satisfaction towards ICICI services could be known.

Way of issuing questionnaires

It was personal interview (face to face). It helped in directly asking the question to the people face to face by selecting people from the data available. Though this is a time consuming process and interview have a little time to think.

Target people
Questionnaire were issued to people who were the existing clients of ICICI for the product SSA & the area covered was mainly the parts of South Delhi

Sampling unit
The sampling unit for this research was various parts of South Delhi where customers were available for interviews; the area covered for this study was under the ICICI Green park Branch.

Sampling Frame
Sampling done is basically non probability based in which the (1.) Judgment of the interviewer & (2.) Quota method are being employed. Sample Size: 115 Existing Clients of ICICI for the product RCA. Response Rate:80% of the clients visited & interviewed.

Chapter 5. Customer satisfaction

The word satisfaction comes from the Latin words Satis (enough) and Facere ( to do). These words suggest the true meaning of satisfaction and Which is fulfillment. Managerially,fulfillment usually translates to solve problem and satisfying the customer is not enough. To produce high level of customer loyalty, businesses need to move beyond moresatisfaction, to customer delight.

Marketing concept: According to Philip Kotler, a world renowned marketing professor, North western university and consultant to several major corporations,the Marketing concept is an improvement over the selling concept. In the selling concept, a firms principle focus is on finding a buyer for the product. Whereas in marketing concept, the firms obsession is to make what the customer wants. For this reason it is important to understand the customers needs and wants.

Customer focus is business Democracy: Focusing on the customers needs to serving societys needs better. Business democracy means that companies are governed by and for the customers. The most efficient system to serve the public interest is business democracy.

Customer satisfaction programme: Implicit in any customer satisfaction program is the need to satisfy customers.If we hope to maintain or even grow our customer base, it is realistic to expect those customers to be satisfied with the services and product on offer. In simplistic terms the model given on next page applies.

Excellent quality of service will lead to customer satisfaction which in turn gives birth to customer loyalty. Hence, the market share will be protected. Whether the buyer is satisfied after the purchase or not depends on offers performance in relation to buyers expectations.

In general satisfaction is the feeling of pleasure or disappointment resulting from comparing a products perceived performance in relation to the expectations. Satisfaction is a function of perceived performance and expectations. If the performance falls shorter than expectation the customer is dissatisfied, if the performance equals the expectation the customer is satisfied, if the performance is larger than expectation the customer is delighted.

Therefore, it is very important to fully understand what the customer wants, before we can deliver to that expectations and before we can hope to measure customer satisfaction accurately.

Chapter 6
FINDINGS AND DATA ANALYSIS
The entire study is aimed to assessing the fund allocation & investment profile of existing clients for the product SSA. It includes the analysis and interpretation arrived at from the primary data collected according to the research to facilitate the analysis.

Thus I would be going for a sectional data analysis in which I would analyze each of the section then finally I would go for a final conclusion, which would reflect the analysis of whole of the questionnaire as against each section.

The Questionnaire is been divided into Four parts first part is relating to Organization Profile which discuses its nature of business its network branches and the address, phone number just to review back if there are any changes in the data base. This is nothing to relate with the objective of this project.

Fund Inflow Details:Q1.

Grant is Received or not?

In this 60% said yes &40% No

Grants Received % Respondant

Response Rate 80% 60% 40% 20% 0% yes Response Options no 60% 40%

Q2.

What type of account you have?

Platinum 10% Gold 20%

Standard 20% Classic 5%

Premium 45%

Q3.

What type of constitution you have?

60% 50% 40% 30% 20% 10% 0% Sole proprietorship Partnership Private Lim ited Public Lim ited

Q4. Most preferred banking mode of transaction?

70% 60% 50% 40% 30% 20% 10% 0% ATM Mobile Net Phone

Q5.

Have you got foreign currency reserves approval?

In this case 60% said Yes 40% No.

Respondant Rate For FCRA Approval

Respondant Rate 80% 60% 40% 20% 0% yes no Respondant Response 60% 40%

Q6.

Grants/Inflows in Rupees?
In this case 20% said >20,00,000, 35% said >than 20,00,0000 < 50,00,000 & Next 45% said < 1,00,00,000

Amount Of Grant Recieved In Ruppes

Response Rate 50% 40% 30% 20% 10% 0% 45% 35% 20%

2 Grant in Rupees

Analysis for this section:

The questions in this section were prepared with the objective of Understanding the in flow pattern of existing clients it could be generally gathered from the respondents reply that the organizations having Grants have quite potential as they have a flow of inflows quite regularly especially in case of domestic as for the government grants were concerned they were quite numerable but generally they are being received in good amount the case with foreign grants is that they were very limited in number but huge in corpus size thus a track has to be kept of them as those would give a good business to the bank

While mode of receiving the grants/donations suggested that if in cash, it was utilized by the client and was not accounted in accounts as could be read through there bank balances as provided bank. Where as those organizations, which received a cheque or DD, tend to invest so it was in interest of bank to initiate and be in constant touch with such clients.

While the clients having an FCRA with the bank are highly potential clients as there transactions in normal course is some what a crore and it could be more depending upon the nature of client.

Banking/Investment Details

Q7.

Clients have separate account for branches?

70% said yes & 30% said No.

Respondant Having Seperate Account For The Branches

Respondant Rate

no yes 0% 20%

30% 70% 40% 60% 80%

Respondant Response

Q8.

Total no. Of accounts hold for banking purpose?

In this case 24% said 1 account, 36% said 2 accounts, 18% said 3-5 accounts, 22% said more than 5 accounts.

Respondant Rate For Holding No. Of Accounts

1Account
22% 24%

Accounts 2 3-5 Accounts

18% 36%

more than 5 Accounts

Q9.

Respondents hold Fixed Deposit at bank or not?

In this case 70% said yes 30% said No

Respondants Response For Acquisition Of FD'S

Respondant Rate 100% 50% 0% yes Respondant Response no 70% 30%

Q10.

Percentage of unutilized fund in FDs? In this case the results were: -

% Of Unutilized Fund In FDs

Respondant Response more than 70% Less than 70% but more than 50% Less than 50% but more than 20% Less than 20% 0 0.1 0.2 0.3 0.4 0.5 4% 6% 35% 55% 0.6

Respondant Rate

Less than 20% Less than 50% but more than 20% Less than 70% but more than 50% More than 70%

Q11.

Average Deposits& Withdrawals by clients?

(a) DEPOSITS: -

1-represents 1to2 Deposits 2- represents 3 to 5 Deposits 3 represents more than 5 deposits

No. OF DEPOSITS
40% 30% 20% 10% 0% 1 2 3 36% 24% 40%

Respondant Rate

Respondant Response

(b) WITHDRAWLS: -

1-represents 1 to 2 withdrawals 60% No. OF WITHDRAWLS

Respondant Rate 80% 60% 40% 20% 0% 1 2 3 Respondant Response

60% 32% 8% Withdrawls

2-represents 3 to 5 withdrawals 32% 3-represents more than 5 withdrawals 8%

Q12.

Are people satisfied with ICICI services?

Satasfaction Towards ICICI Services

Respondant Rate 100% 80% 60% 40% 20% 0% yes no Respondant Response

Q13.

What makes people like ICICI?

What makes people like ICICI

ATM Facility 37% 8 to 8 Banking 15%

Product 26%

Door Step Facility 8 to 8 Banking

Door Step Facility 22%

ATM Facility

Q14.

Comfort ability towards changing accounts?

In this the general reply was in favor of ICICI bank, as most of the clients preferred to continue with services of ICICI bank.

Very Moderately O.K. No, I will Not Change

18% 12% 70%

Comfortability Towards Shifting Of Accounts

Respondants Response 2 1 0 0.5 Response Rate 1 12% 18% 70% No,I will Not Change Moderately O.K. Very

IMPACT OF BUSINESS OF THE COMPANY ON ITS INVESTMENT PATTERN

The sample consists of companies selected from a range of industries, but due to paucity of time, we were unable to adequately represent any particular industry. Hence, it is difficult to estimate special characteristics of the investment pattern of particular industries. However, the banking and insurance sectors show a distinct pattern when compared to the other 15 companies. Following are some brief

comments about the same (some of these have been touched upon earlier in the report). a) For the 2 sectors, high return on investments was an equally important consideration as safety in determining their investment portfolio. contrast to the sample average. b) They invested both in long-term and short-term instruments again in contrast to the sample average. c) They had an additional consideration to keep in mind when making investments, meeting statutory requirements and government guidelines with respect to investment in GOI Securities. In fact, the 2 banks had the largest exposure to GOI Securities (32%). They also made investments in other instruments (not covered in our study) to meet government regulations. These include advances and term lending, balance with RBI, and loans to State Governments for Housing and Fire Fighting Equipment. d) The investment portfolio of the 2 sectors was the most diversified across the entire sample. These sectors were the only ones investing in the call market, in This is in

corporate debentures, and in commercial paper.

Such diversification was

necessary as well as profitable due to the large corpus in these sectors (more than Rs. 3000 crores). e) Surprisingly, mutual funds were not the major claimant of investments in this sector. Oriental Insurance invested about 16% in MFs, while for the banks the figure was even less than 1%. On the contrary, the insurance sector put majority of its funds in equity, and the banks invested the largest proportion of their funds in GOI Securities. The cause for the same lies in their objective of high return and meeting government guidelines respectively. Also, the banks had no funds invested in FDs.

Chapter 7.
LIMITATION OF THE STUDY

No study is generally full proof, this report suffers from certain limitation with respect to information and analysis. The reason for the above are related to: It was difficult to get appointment from the person whom I know because of their busy schedule. Since the project had to be submitted within seven weeks and within this time period Its very difficult to convert. Since the study involved a through analysis of the banking industry and relative study of various players offering the similar products, it was required a dedicated labor in term of both time and effort. Since the curriculum did not permit more time, the study had to be very limited.

Chapter 8.
CONCLUSION & RECOMMENDATIONS
From the analysis of the data it is clearly visible that the customers of ICICI bank are not very satisfied. Apart from the services and facilities one of the prime factors for them is a supportive customer care cell. Also it is evident that the customer care is of relevance in the world of today. Customer satisfaction influencers the customers highly and it makes the customer perceive about the work quality of an organization which can help an organization successfully putting them in an aspiration group. ICICI is going through a tough time as far as customer satisfaction is concerned which has to be improved and maintained to improve its image. Proper feedback system should be there and feed back forms should be kept at branches for the customers. Financing vehicles, some percentage of discount should be given to the customers on purchase of new vehicle either 2-wheeler or 4-wheeler from the company side on the reference of the bank. Customer commitment is mainly driven by perceived value and the images of being Customer Oriented, Quality leader. The image of being professional needs to be maintained by ICICI. A reliable, efficient Customer Relationship Management(CRM) solution makes it easy to build lasting customer relationships, gives executives the necessary resources to maximise their organisation.

BIBLIOGRAPHY
Beckett, A.; Hewer, P. and Howcroft, B. (2002), An Exposition Of Consumer Behaviour In The Financial Industry Services, International Journal of Bank Marketing, Volume 18, Issue 1, p 15 Preeti Singh, Investment Management A.N. Shahbhag, In the Wonderland of Investment Banking : The Network is the bank, by Yogesh Sharma, Dataquest, January, 2005 Race will end in survival of the fittest, The Financial Express, November 2003. The future is in e-banking by Mr. K.V. Kamath (Managing Director, ICICI), April 14, 2002, Business Line. Various issues of The Times of India, Financial Express RBI road map for banking, The Indian Express, July 21,2004. Banking in India, by Dr A. K. Mishra (Professor & Chairman of Finance Group at IIM Lucknow). http://www.indiainfoline.com http://www.icicibank.com http://www.sap.com

QUESTIONNAIRE

1. What kind of account do you have? (a) Standard (b) Classic (c) Premium (d) Gold (e) Platinum

2. Type of Constitution (a) Sole proprietorship (c) Partnership (b) Private Limited

(e) Public Limited

3. Whether the grants received or not?

4. Which is the most preferred banking mode? (a) ATM (b) Mobile (c) Net (d) Phone

5. Have you get foreign currency reserve approvals?

6. How much grants received?

7. Do you have separate account for different branches?

8.How many accounts do you have for banking purpose? 9. Do you have fixed deposits (FDR)? 10. Percentage of unutilized fund in FDs?

11. What are you average deposit and withdrawls?

12. Are you satisfied with ICICI services?

13. What do you like most about ICICI?

a) Door step banking b)8 to 8 banking c)ATM facility.