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CONTENTS

Introduction

Executive Summary

History

Objective

product

Bank in India

Strength

weakness

9
Universal banking model
10
7 universal services of ICICI
11
conclusion
12
Bibliography

INTRODUCTION
The banking section will navigate through all the
aspects of the Banking System in India. It will discuss
upon the matters with the birth of the banking
concept in the country to new players adding their
names in the industry in coming few years.
The banker of all banks, Reserve Bank of India (RBI), the Indian Banks
Association (IBA) and top 20 banks like IDBI, HSBC, ICICI, ABN AMRO,
etc. has been well defined under three separate heads with one page
dedicated to each bank. However, in the introduction part of the entire
banking cosmos, the past has been well explained under three different heads
namely:
History of Banking in India
Nationalization of Banks in India
Scheduled Commercial Banks in India
The first deals with the history part since the dawn of banking system in
India. Government took major step in the 1969 to put the banking sector into
systems and it nationalized 14 private banks in the mentioned year. This has
been elaborated in Nationalization Banks in India. The last but not the least
explains about the scheduled and unscheduled banks in India. Section 42 (6)
(a) of RBI Act 1934 lays down the condition of scheduled commercial
banks. The descriptions along with a list of scheduled commercial banks are
given on this page.

EXECUTIVE SUMMARY

Private banking is a concept which is new and fast emerging in the world of
banking where changes have become a necessity in order for banks to
survive in this competitive environment vis--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 80s 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.

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.
ICICI Bank's Green initiative is to make healthy environment in the organisation i.e.; to
create intrapersonal skills amongs the customer and understanding between employees of
the organise

OBJECTIVE OF ICICI

ICICI Bank's Green initiative is to make healthy environment in the organisation i.e.; to
create intrapersonal skills amongs the customer and understanding between employees of
the organisation.
Broad objectives of the ICICI are:
1. to assist in the creation, expansion and modernisation of private concerns;
2. to encourage the participation of internal and external capital in the private
concerns;
3. to encourage private ownership of industrial investment.

PRODUCT
ICICI Bank offers wide variety of Deposit Products to suit your
requirements. Coupled with convenience of networked branches/ ATMs and

facility of E-channels like Internet and Mobile Banking, ICICI Bank brings
banking at your doorstep. Select any of our deposit products and provide
your details online and our representative will contact you for Account
Opening.
SAVING ACCOUNTS

ICICI Bank offers you a power packed

Savings

Account

convenient

with

features

a
and

host

of

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.
FIXED DEPOSITS
Safety, Flexibility, Liquidity and Returns!!!! A combination of unbeatable features of the
Fixed Deposit from ICICI Bank.

HOME LOAN
The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans
offers some unbeatable benefits to its customers - Doorstep Service,
Simplified Documentation and Guidance throughout the Process. It's really
easy!
PERSONAL LOANS
If you're looking for a personal loan that's easy to get, your search ends here.
ICICI Bank Personal Loans are easy to get and absolutely hassle free. With
minimum documentation you can now secure a loan for an amount up to Rs.
15 lakhs
CAR LOAN

The NO 1 financier for car loans in the country. Network of more than 1500
channel partners in over 780 locations. Tie-ups with all leading automobile
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.

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.

BANKS IN INDIA

In India the banks are being segregated in different groups. Each group has
their own benefits and limitations in operating in India. Each has their own
dedicated target market. Few of them only work in rural sector while others
in both rural as well as urban. Many even are only catering in cities. Some
are of Indian origin and some are foreign players.All these details and many
more is discussed over here. The banks and its relation with the customers,
their mode of operation, the names of banks under different groups and other
such useful informations are talked about. One more section has been taken
note of is the upcoming foreign banks in India. The RBI has shown certain
interest to involve more of foreign banks than the existing one recently. This
step has paved a way for few more foreign banks to start business in India.

STRENGHTS
1) Online Services: ICICI Bank provides online services of all its banking
facilities. It also provides D-Mart account facilities on-line, so a person can
access his account from anywhere he is.
[D-Mart is a dematerialized account opened by a salaried person

for purchase & sale of shares of different companies.]

2) Advanced Infrastructure: Branches of ICICI Bank are well equipped
with advanced technology to provide the customers with taster banking
services. All the computerized machines are located in suitable manner &
are very useful to the customers & staff of the bank.
3) Friendly Staff: The staff of ICICI Bank in all branches is very friendly &
help the customers in all cases. They provide faster services along with
bonding & personal relationship with the customers.
4) 12 hrs. Banking services: Compared to other bank ICICI bank provides
long hrs. of services i.e. 8-8 services to the customers. This service is one of
its kind & is very helpful for the customers who are in urgent need of
money.
5) Other Facilities to the Customers & Employees: ICICI Bank also
provides other facilities like drinking water facilities, proper sitting
arrangements to the customers. And there are also proper Ventilation &
sanitary facilities for the employees of the bank.
6) Late night ATM services: ICICI bank provides late night ATM services
to the customers. The ATM centers of ICICI bank works even after 11:00pm.
at night in certain branches.

WEAKNESS
1) High Bank Service Charges:
ICICI bank charges highly to customers for the services provided by them
when compared to other bank & that is why it is only in the reach of higher

class of society.
2) Less Credit Period:
ICICI bank provides credit facilities but only upto limited period. Even
when the credit period is not over it sends reminder letters to the customers
which may annoy them.

UNIVERSAL BANKING MODEL

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THREE KEY BUSINESS AREAS

RETAIL BANKING: consumer loans, credit cards(top 33 US issuer), mortgages,

internet banking, ample range of deposits.

CORPORATE BANKING: a full range of products and financial services for SMEs

and corporates.

WEALTH MANAGEMENT: advise and taylored products to individual customers,

retirement plans and private banking. US$ 8Bn in AUM

SERVICES OF ICICI BANK

Universal Bank is committed to provide you with a suite of banking services to meet
your financial and service needs.
Allpoint ATM Network
Universal Bank is a member of the largest surcharge-free ATM network, Allpoint. With
over 37,000 ATMs, Allpoint is your single source for surcharge-free ATM access, coast
to coast. Allpoint provides you with unmatched convenience and savings. Allpoint ATMs
are located at National and Regional retailers such as 7-Eleven, Target, and Costco.
Safe Deposit Box
Store your valuables in a safe place. Universal Bank offers Safe Deposit boxes at low
rates.
VISA Debit Card
Commonly referred to as a debit card, the Universal ATM VISA Debit Card works like a
check, only better. Just swipe your card, sign the receipt and go. Funds are withdrawn

directly from your checking account. It's faster and safer than cash or checks. Its a
convenient way to pay for your everyday purchases from your checking account.
ATM and Debit Card Services
ATM's make it even easier and convenient to conduct your financial transactions anytime
of the day or night. Your ATM card will give you access to your savings or checking
account, around the clock. You'll no longer have to wait in long lines. All you need is
your ATM card and your personal identification number (PIN) to start taking advantage
of this great service. Look for Cirrus, Allpoint or Star System logos at the ATM near you.
Official Checks
Official Checks are available at all Universal Bank branches.
Wire Transfers
Wire transfer service is available at all Universal Bank branches.
24/7 Telephone Banking
Access your money around the clock with our 24/7 TouchTone Automated Telephone
Banking System. You may access your deposit account balances or transfer funds
between accounts.
CD Secured Line of Credit
A CD Secured Loan is a secure and risk-free consumer loan secured by your own
Certificate of Deposit (CD). The process is fast and easy, and better yet, there is no loan
application to complete.
Savings Bond Redemption
All Universal Bank branches can assist you with your Bond redemption.
Automatic Loan Payments
Dont worry about late payments any longer. Set up automatic loan payments from your
savings or checking account.
Direct Deposit of Payroll and U.S. Treasury Checks

Direct deposit is a safe, fast and convenient way to have your payroll, social security
benefits, tax refunds or pension funds electronically and automatically deposited into
your Universal Bank checking or savings account.
Cashier's Checks
Cashier cheMad Money
Mad Money is a unique money gift program available only during the holidays. Mad
Money is currency check books containing new bills in denominations of $1.00, $5.00
or $20.00 bills. (Fee may apply)
MasterCard/VISA Cash Advances
Need cash quickly? All Universal Bank branches can assist you with obtaining a cash
advance from your MasterCard or VISA credit cards. (Restrictions may apply)
Overdraft Protector
Sign up for our Overdraft Protector and avoid paying for returned checks due to
insufficient funds. Overdraft Protector will debit funds from your savings account and
credit your checking account as needed to pay your checks.
VISA Credit Card
Apply for a Universal Bank credit card provided through Elan. It works everywhere
VISA is accepted.
cks are available at all Universal Bank branches.

OPPORTUNITIES
1) Bank Insurance services: The bank should also provide insurance

services. That means the bank can have a tie-up with a insurance company.
The bank will advertise & promote the different policies introduced by the
insurance company & convince their customers to buy insurance policies.
2) Increase in percentage of Returns on increase: The bank should
provide higher returns on deposits in comparison of the present situation.
This will also upto large extent help the bank earn profits & popularity.
3) Recruit professionally guided students: Bank & Insurance is a special
non-aid course where the students specialize in the functioning & services of
the bank & also are knowledge about various tax policies. The bank can
recruit these students through tie-ups with colleges. Such students will surely
prove as an asset to the bank.
4) Associate with social cause: The bank can also associate itself with
social causes like providing relief aid patients, funding towards natural
calamities. But this falls in the 4th quadrant so the bank should neglect it.

CONCLUSION
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 Ebanking provides new growth perspectives and Internet business is a catalyst for new
technologies and new business processes.

Bibliography
www.rbi.org.in
www.moneycontrol.com
www.nseindia.com
www.icicibank.com
www.google.com
Economic times
Business world