A

Minor Project Report

On
CONSUMER SATISFACTION REGARDING
NEW TECHNOLOGY USE IN ICICI BANK.

Submitted
In Partial fulfilment for the requirement of
Bachelor of Business Administration
(2015-2018)
UNDER THE GUIDANCE OF
DR. SUMAN YADAV
(ASSISTANT PROFFESOR)

SUBMITTED BY
AKSHAT LUTHRA
ENROLLMENT NO. - 00351401715
[3RD SEMESTER]

FAIRFIELD INSTITUTE OF MANAGEMENT & TECHNOLOGY

Affiliated To Guru Gobind Singh Indraprastha University,
FIMT Campus, Kapashera,
New delhi-110037

1
 TABLE OF CONTENTS

S.NO. TITLE PAGE NO.

1 Student Declaration (i)

2 Certificate from Guide (ii)

3 Acknowledgement (iii)

4 Executive Summary (iv)

Chapter - 1: INTRODUCTION

5 1.1 History of Industry 1-5

1.2 About Company Profile 6-18

Chapter - 2: LITERATURE REVIEW

6
2.1 Literature Review &About The Topic 19-20

Chapter - 3: RESEARCH METHODOLOGY

21
7 3.1 Objective of the study
22-28
3.2 Research Methodology of the study

8 Chapter - 4: ANALYSIS& INTERPRETATION 29-38

Chapter - 5: FINDINGS & SUGGESTIONS

39
9 5.1 Findings
40-41
5.2 Suggestions

10 Chapter - 6: CONCLUSION 42

11 BIBLIOGRAPHY 43

12 QUESTIONNAIRE 44-45

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 STUDENT DECLARATION

I hereby declare that the project entitled CONSUMER SATISFACTION REGARDING

NEW TECHNOLOGY USE IN ICICI BANK under the guidance of Dr. Suman Yadav
submitted in the partial fulfillment of degree of Bachelor of Business Administration (BBA)
from FAIRFIELD INSTITUTE OF MANAGEMENT AND TECHNOLOGY, New Delhi.
This is my original work and this project work has not formed the basis for award of any degree
to the best of my knowledge.

Akshat Luthra

00351401715

Signature of student

Place:

Date:

3
 CERTIFICATE

This is to certify that the project report entitled NEW TECHNOLOGY USE IN ICICI
BANK submitted by AKSHAT LUTHRA is a bona fide piece of work conducted under my
direct supervision and guidance. No part of this work has been submitted for any other degree of
any other university. It may be considered for evaluation in partial fulfilment of the requirement
for the award of degree of Bachelors of Business Administration.

Date: Dr. Suman Yadav

(Asst. Professor)

Fairfield Institute of Management & Technology,

NEW DELHI

4
 ACKNOWLEDGEMENT

I take this opportunity to express my heartiest gratitude to Fairfield Institute of

Management & Technology for permitting me to undertake this research and supporting
me during this research and otherwise also.

I would like to thank Dr. Suman Yadav who not only played the role of my philosopher
and guide but also mentored me at every stage of my project work. I would like to extend
my hearty thanks to entire faculty members of BBA department for their constant
cooperation and support to take decision during the course of my research. I would also
like to thank my parents, my sister and my friends for their support and blessing without
which this project could not have been completed. Indeed I shall remain ever grateful to
them.

I am also thankful to college library and computer centre management staff for their
constant support.

The experience I gained during this research project is of immense importance in the
academically and more on professionally.

NAME :.Akshat Luthra

ENROLLMENT NO .-00351401715

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 EXECUTIVE SUMMARY

I have completed this project titled CONSUMER SATISFACTION REGARDING

TECHNOLOGY USED IN ICICI BANK after an in-depth analysis of telecommunication
industry. In this project, I have studied the features and technology used in icici bank .I did a
primary data collection through Questionnaires covering the sample of 105 respondents. In that I
collected their views about how they feel by using the technology, their likings and disliking.

This presents the summary of the study and survey done in relation to the Consumer
satisfaction in ICICI BANK. The conclusion is drawn from the study and survey of the company
regarding the Consumer satisfaction process carried out there. I analyze through questionnaire
filled by respondent. Like 93% of the consumer enjoys have seen the advertisement of icici bank,
whereas 7% have not seen.

In this report, I have studied the consumer satisfaction in India its services vision and
mission statements how it works. I did primary data collection through questionnaires covering
the sample of 105 respondents.

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 CHAPTER I

INTRODUCTION

7
1.1.HISTORY OF INDUSTRY

A bank is a financial institution that accepts deposits from the public and creates credit. Lending
activities can be performed either directly or indirectly through capital markets. Due to their
importance in the financial system and influence on national economies, banks are highly
regulated in most countries. Most nations have institutionalized a system known as fractional
reserve banking under which banks hold liquid assets equal to only a portion of their current
liabilities. In addition to other regulations intended to ensure liquidity, banks are generally
subject to minimum capital requirements based on an international set of capital standards,
known as the Basel Accords.

Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy
but in many ways was a continuation of ideas and concepts of credit and lending that had their
roots in the ancient world. In the history of banking, a number of banking dynasties notably,
the Medicis, the Fuggers, the Welsers, the Berenbergs and the Rothschilds have played a
central role over many centuries. The oldest existing retail bank is Banca Monte dei Paschi di
Siena, while the oldest existing merchant bank is Berenberg Bank.

HISTORY OF BANK

History

Banking began with the first prototype banks of merchants of the ancient world, which made
grain loans to farmers and traders who carried goods between cities. This began around 2000 BC
in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders based
in temples made loans and added two important innovations: they accepted deposits and changed
money. Archaeology from this period in ancient China and India also shows evidence of money
lending activity.

The origins of modern banking can be traced to medieval and early Renaissance Italy, to the rich
cities in the north like Florence, Lucca, Siena, Venice and Genoa. The Bardi and Peruzzi families
dominated banking in 14th-century Florence, establishing branches in many other parts of

8
Europe. One of the most famous Italian banks was the Medici Bank, set up by Giovanni di Bicci
de' Medici in 1397.[3] The earliest known state deposit bank, Banco di San Giorgio (Bank of St.
George), was founded in 1407 at Genoa, Italy.

Modern banking practices, including fractional reserve banking and the issue of banknotes,
emerged in the 17th and 18th centuries. Merchants started to store their gold with the goldsmiths
of London, who possessed private vaults, and charged a fee for that service. In exchange for each
deposit of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the
metal they held as a bailee; these receipts could not be assigned, only the original depositor could
collect the stored goods.

The sealing of the Bank of England Charter (1694).

Gradually the goldsmiths began to lend the money out on behalf of the depositor, which led to
the development of modern banking practices; promissory notes (which evolved into banknotes)
were issued for money deposited as a loan to the goldsmith. The goldsmith paid interest on these
deposits. Since the promissory notes were payable on demand, and the advances (loans) to the
goldsmith's customers were repayable over a longer time period, this was an early form of
fractional reserve banking. The promissory notes developed into an assignable instrument which
could circulate as a safe and convenient form of money backed by the goldsmith's promise to
pay, allowing goldsmiths to advance loans with little risk of default. Thus, the goldsmiths of
London became the forerunners of banking by creating new money based on credit.

The Bank of England was the first to begin the permanent issue of banknotes, in 1695. The
Royal Bank of Scotland established the first overdraft facility in 1728. By the beginning of the
19th century a bankers' clearing house was established in London to allow multiple banks to
clear transactions. The Rothschilds pioneered international finance on a large scale, financing the
purchase of the Suez canal for the British government.

Banks act as payment agents by conducting checking or current accounts for customers, paying
cheques drawn by customers on the bank, and collecting cheques deposited to customers' current
accounts. Banks also enable customer payments via other payment methods such as Automated

9
Clearing House (ACH), Wire transfers or telegraphic transfer, EFTPOS, and automated teller
machines (ATMs).

Banks borrow money by accepting funds deposited on current accounts, by accepting term
deposits, and by issuing debt securities such as banknotes and bonds. Banks lend money by
making advances to customers on current accounts, by making installment loans, and by
investing in marketable debt securities and other forms of money lending.

Banks provide different payment services, and a bank account is considered indispensable by
most businesses and individuals. Non-banks that provide payment services such as remittance
companies are normally not considered as an adequate substitute for a bank account.

Banks can create new money when they make a loan. New loans throughout the banking system
generate new deposits elsewhere in the system. The money supply is usually increased by the act
of lending, and reduced when loans are repaid faster than new ones are generated. In the United
Kingdom between 1997 and 2007, there was an increase in the money supply, largely caused by
much more bank lending, which served to push up property prices and increase private debt. The
amount of money in the economy as measured by M4 in the UK went from 750 billion to 1700
billion between 1997 and 2007, much of the increase caused by bank lending. If all the banks
increase their lending together, then they can expect new deposits to return to them and the
amount of money in the economy will increase. Excessive or risky lending can cause borrowers
to default, the banks then become more cautious, so there is less lending and therefore less
money so that the economy can go from boom to bust as happened in the UK and many other
Western economies after 2007.

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1.1.1. RANGE OF ACTIVITES

Activities undertaken by banks include personal banking, corporate banking, investment

banking, private banking, transaction banking, insurance, consumer finance, foreign exchange
trading, commodity trading, trading in equities, futures and options trading and money market
trading.

1.1.2.BUSINESS MODELS

A bank can generate revenue in a variety of different ways including interest, transaction fees
and financial advice. Traditionally, the most significant method is via charging interest on the
capital it lends out to customers. The bank profits from the difference between the level of
interest it pays for deposits and other sources of funds, and the level of interest it charges in its
lending activities.

This difference is referred to as the spread between highly the cost of funds and the loan interest
rate. Historically, profitability from lending activities has been cyclical and dependent on the
needs and strengths of loan customers and the stage of the economic cycle. Fees and financial
advice constitute a more stable revenue stream and banks have therefore placed more emphasis
on these revenue lines to smooth their financial performance.

In the past 20 years American banks have taken many measures to ensure that they remain
profitable while responding to increasingly changing market conditions.

First, this includes the GrammLeachBliley Act, which allows banks again to merge
with investment and insurance houses. Merging banking, investment, and insurance
functions allows traditional banks to respond to increasing consumer demands for "one-
stop shopping" by enabling cross-selling of products (which, the banks hope, will also
increase profitability).
Second, they have expanded the use of risk-based pricing from business lending to
consumer lending, which means charging higher interest rates to those customers that are
considered to be a higher credit risk and thus increased chance of default on loans. This
helps to offset the losses from bad loans, lowers the price of loans to those who have

11
 better credit histories, and offers credit products to high risk customers who would
otherwise be denied credit.
Third, they have sought to increase the methods of payment processing available to the
general public and business clients. These products include debit cards, prepaid cards,
smart cards, and credit cards. They make it easier for consumers to conveniently make
transactions and smooth their consumption over time (in some countries with
underdeveloped financial systems, it is still common to deal strictly in cash, including
carrying suitcases filled with cash to purchase a home).

However, with convenience of easy credit, there is also increased risk that consumers will
mismanage their financial resources and accumulate excessive debt. Banks make money
from card products through interest charges and fees charged to cardholders, and
transaction fees to retailers who accept the bank's credit and/or debit cards for payments.

This helps in making profit and facilitates economic development as a whole.

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1.2. ABOUT THE ICICI

ICICI Bank (Industrial Credit and Investment Corporation of India) is an Indian multinational
banking and financial services company headquartered in Mumbai, Maharashtra, India, with its
registered office in Vadodara. In 2014, it was the second largest bank in India in terms of assets
and third in term of market capitalisation. It offers a wide range of banking products and
financial services for corporate and retail customers through a variety of delivery channels and
specialised subsidiaries in the areas of investment banking, life, non-life insurance, venture
capital and asset management. The bank has a network of 4,450 branches and 13,995 ATMs in
India, and has a presence in 19 countries including India.

ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Bank of
Baroda and Punjab National Bank.[7] The bank has subsidiaries in the United Kingdom and
Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman,
Dubai International Finance Centre, China[8] and South Africa; [9]
and representative offices in
United Arab Emirates, Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has
also established branches in Belgium and Germany.

13
ICICI Bank was established by the Industrial Credit and Investment Corporation of India
(ICICI) an Indian financial institution, as a wholly owned subsidiary in 1994. The parent
company was formed in 1955 as a joint-venture of the World Bank, India's public-sector banks
and public-sector insurance companies to provide project financing to Indian industry. The bank
was founded as the Industrial Credit and Investment Corporation of India Bank, before it
changed its name to the abbreviated ICICI Bank. The parent company was later merged with the
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.

14
In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and branches in
some locations due to rumours 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 rumours.

1.2.1.Role in Indian financial infrastructure

The bank has contributed to the set-up of a number of Indian institutions to establish financial
infrastructure in the country over the years:

National Stock Exchange - The National Stock Exchange was promoted by India's
leading financial institutions (including ICICI Ltd.) in 1992 on behalf of the Government
of India with the objective of establishing a nationwide trading facility for equities, debt
instruments and hybrids, by ensuring equal access to investors all over the country
through an appropriate communication network.
Credit Rating Information Services of India Limited (CRISIL) - In 1987, ICICI Ltd along
with UTI set up CRISIL as India's first professional credit rating agency. CRISIL offers a
comprehensive range of integrated products and service offerings which include credit
ratings, capital market information, industry analysis and detailed reports.
National Commodities and Derivatives Exchange Limited - NCDEX is an online multi-
commodity exchange, set up in 2003, by ICICI Bank Ltd, LIC, NABARD, NSE, Canara
Bank, CRISIL, Goldman Sachs, Indian Farmers Fertiliser Cooperative Limited (IFFCO)
and Punjab National Bank.
Financial Innovation Network and Operations Pvt Ltd. - ICICI Bank has facilitated
setting up of "FINO Cross Link to Case Link Study" in 2006, as a company that would
provide technology solutions and services to reach the underserved and underbanked
population of the country. Using technologies like smart cards, biometrics and a basket of
support services, FINO enables financial institutions to conceptualise, develop and
operationalise projects to support sector initiatives in microfinance and livelihoods.
Entrepreneurship Development Institute of India - Entrepreneurship Development
Institute of India (EDII), an autonomous body and not-for-profit society, was set up in
1983, by the erstwhile apex financial institutions like IDBI, ICICI, IFCI and SBI with the

15
 support of the Government of Gujarat as a national resource organisation committed to
entrepreneurship development, education, training and research.
North Eastern Development Finance Corporation - North Eastern Development Finance
Corporation (NEDFI) was promoted by national level financial institutions like ICICI Ltd
in 1995 at Guwahati, Assam for the development of industries, infrastructure, animal
husbandry, agri-horticulture plantation, medicinal plants, sericulture, aquaculture, poultry
and dairy in the North Eastern states of India. NEDFI is the premier financial and
development institution for the North East region.
Asset Reconstruction Company India Limited - Following the enactment of the
Securitisation Act in 2002, ICICI Bank, together with other institutions, set up Asset
Reconstruction Company India Limited (ARCIL) in 2003, to create a facilitative
environment for the resolution of distressed debt in India. ARCIL was established to
acquire non-performing assets (NPAs) from financial institutions and banks with a view
to enhance the management of these assets and help in the maximisation of recovery.
This would relieve institutions and banks from the burden of pursuing NPAs, and allow
them to focus on core banking activities.
Credit Information Bureau of India Limited - ICICI Bank has also helped in setting up
Credit Information Bureau of India Limited (CIBIL), India's first national credit bureau in
2000. CIBIL provides a repository of information (which contains the credit history of
commercial and consumer borrowers) to its members in the form of credit information
reports. The members of CIBIL include banks, financial institutions, state financial
corporations, non-banking financial companies, housing finance companies and credit
card companies.
Institutional Investor Advisory Services India Limited (IiAS) ICICI Bank has indirectly
invested in Institutional Investor Advisory Services, through ICICI Prudential Life
Insurance Company, in IiAS. IiAS is a voting advisory firm aka proxy firm, dedicated to
providing participants in the Indian market with data, research and commentary. It
provides recommendations on resolutions placed before shareholders of over 300
companies.

16
1.2.2. ICICI Merchant Services

ICICI Merchant Services represents an alliance formed in 2009 between ICICI Bank, Indias
largest private sector bank, and First Data, a global leader in electronic commerce and payment
services. First Data is the majority stakeholder in the alliance with ICICI Bank holding 19%.

Money2India

Money2India (www.money2India.com) is an online money transfer tracking service offered to

Non-Resident Indians by ICICI Bank Ltd. With an ever-expanding base since its launch, it is the
preferred mode of online money transfers to India, facilitating seamless money transfers with
round the clock customer service availability. To use this service, a user needs to complete a
simple one-time online registration by accessing www.money2India.com and can thereafter, start
sending money from any bank in 9 countries (USA, Canada, UK, Singapore, Australia, UAE,
Sweden, Switzerland and Hong Kong) to any beneficiary account with over 100 banks in India.

Money2India Europe

ICICI Bank UK PLC, Germany branch provides money transfer and tracking service
(Money2India Europe, Money2India.EU) in 20 European countries. The platform facilitates
money transfer to India by allowing remitter to initiate money transfer instruction on M2E.
Depending on the country of residence and the financial institution with which the user is
holding the bank account, he / she has an option to transfer money through payment gateway
integrated with the platformwith guaranteed exchange rate.

The Money2India Europe Mobile App is a full-fledged remittance platform for the customers,
who prefers to use mobile device to handle the transactions.

Extra home loans

ICICI Bank Extraa Home Loans are 'mortgage-guarantee' backed loans for retail customers
who aspire to purchase their first homes in the affordable housing segment. This was introduced
in August 2015 in association with India Mortgage Guarantee Corporation (IMGC). IMGC is a

17
joint venture between National Housing Bank (NHB), an RBI subsidiary which regulates Home
Finance Companies in India; NYSE-listed Genworth Financial Inc., a Fortune 500 company;
International Finance Corporation (IFC) and Asian Development Bank (ADB).

Smart Vault

Smart Vault are fully automated lockers available 24x7, including weekends and post banking
hours were launched in August 2015. The Smart Vault uses robotic technology to access the
lockers from the safe vault conveniently at any time of their preference in total privacy, without
any intervention of the branch staff.

Saral Loans

In August 2015, ICICI Bank introduced Saral-Rural Housing Loan. Applicants from rural areas
including women borrowers as well as seekers from weaker sections can now avail home loans
at the ICICI Bank Base Rate (I-Base) which is currently at 9.70%. An eligible borrower can
take up to 1.5 million (US$22,000) under the ICICI Bank SaralRural Housing Loan.

ICICI Bank Unifare Bangalore Metro Card

ICICI Bank and Bangalore Metro Rail Corporation Limited (BMRCL) in April 2015, announced
the launch of the ICICI Bank Unifare Bangalore Metro Card to offer the commuters dual
benefits of an ICICI Bank credit or debit card and BMRCLs smart card, called Namma Metro
Smart Card.

'Touch n Remit' facility for NRIs in Kingdom of Bahrain

In March 2015, ICICI Bank tied up with SADAD Electronic Payments WLL to offer remittance
service for NRIs based in Bahrain, enabling them to transfer monies instantly to India from the
latters kiosks spread across the Kingdom of Bahrain. This facility has been named as Touch n
Remit.

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ICICI Bank Ltd launches 'Video Banking' for NRI

In February 2015, ICICI Bank announced the launch of 'Video Banking' for all its NRI (Non
Resident Indian) customers. Using this service, the customers can now connect with a customer
care representative over a video call, round-the-clock, on all days from anywhere using their
smart phone.

Pockets by ICICI Bank

In February 2015, ICICI Bank Re-Launched POCKETS, now working as a "Digital wallet" for
everyone (Android OS users only). The Wallet can be opened by anyone and can conduct
transactions like recharge, shopping, transfer money using the virtual visa card which is issued
when signing up for the wallet.

ICICIBankPay on Twitter

ICICI Bank in January, 2015 launched banking services on Twitter, christened as

'ICICIBankPay'. This service in India enables ICICI Bank customers to transfer money to anyone
in the country who has a Twitter account, check account balance, view last three transactions and
recharge prepaid mobile in a completely secure manner.

Contactless Credit and Debit Cards

ICICI Bank in January, 2015 announced the launch of the countrys first Contactless debit and
credit cards, enabling its customers to make electronic payments by just waving the cards near
the merchant terminal in lieu of dipping or swiping them. These cards are based on the Near
Field Communication (NFC) technology, which provides customers the improved convenience
of speed as these cards require significantly less time than traditional cards to complete a
transaction along with enhanced security as they remain in control of the customer.

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MySavings Rewards

ICICI Bank has rolled-out the programme 'MySavings Rewards' from 1 September 2012, where
reward points are offered to individual domestic customers for a variety of transactions done
through the savings bank account. Reward points are offered automatically to customers for
activating Internet banking, shopping online/ paying utility bills with Internet banking and auto-
debit from savings account towards equated monthly installments for home/ auto/ personal loan/
recurring deposit. Customers are required to maintain a monthly average balance of 15,000
(US$220) or more. th Indian bank will recuire 5.5% interest on short term loans and long term
bonds and mortgages loans up to $2 million up to 20 years to pay back annual interest of 5.5%
short term loans from 3 months up to 3years at 5.5% .credit interest is reduced to 10% annually .

iWish- the flexible recurring deposit

iWish is a flexible recurring deposit product launched by ICICI Bank for its savings account
customers. Unlike a traditional recurring deposit, iWish allows customers to save varying
amounts of money at any time of their choice. Customers can create several goals and track their
progress on an online interface.

ICICI Bank has developed this product in collaboration with Social Money. ICICI Bank has also
launched an app for Android and Apple smartwatches. The app will provide the facility of online
banking transaction from smartwatch.

Software robotics

ICICI on 10 Sep 2016 announced 'software robotics' initiativea first by any Indian bank. Over
200 software robots are now performing over 1 million transactions per day for the bank which
comprises 10% of its total transactions. The bank will engage 500 software robots by the end of
the year which will help it to automate 20% of its total transactions.

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1.2.3.Awards and Achievements of ICICI

2003

"The Asian Banker Excellence in Retail Financial Services Program" by The Asian
Banker

2004

Best Bank in India Award presented by Euromoney Magazine

2006

Bank of the Year 2006 India by the Banker

2007

ICICI Bank has been conferred the Euromoney Award 2007 for the Best Bank in the
Asia-Pacific Region
ICICI Bank wins the Excellence in Remittance Business award by The Asian Banker
ICICI Bank was got the awards for 'Best Transaction Bank' in India, 'Best Domestic
Bank' in India, 'Best follow-on offering'(US$4.94 billion), 'Best Investment Grade
Bond'(US$2 billion, three-tranche bonds), Best Syndicated Loan Managers by Asset.

2009

ICICI Bank bags the "Best bank in SME financing (Private Sector)" at the Dun &
Bradstreet Banking awards
ICICI Bank won the Best Banking Security Systems Project Award and Best E-Banking
Project Implementation Award by The Asian Banker.

2010

ICICI Bank won the Best Banking Security System by The Asian Banker.

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2011

ICICI Bank is the only Indian brand to figure in the BrandZ Top 100 Most Valuable
Global Brands Report, second year in a row
ICICI Bank won the 'Best CRM Project' and 'Best Banking Security Systems' by The
Asian Banker.

2012

Airtel, ICICI among 'top 100 global brands'

ICICI Bank received the Golden Peacock Innovative Product / Service Award.
ICICI Bank received the Dataquest Technology Innovation Awards 2012 for Data center
migration by Dataquest.
ICICI Bank was conferred the Best Performance Award for Self Help Group (SHG) Bank
Linkage Programme in NABARD's State Level Awards announced by their Maharashtra
Regional Office. The Bank received the first prize for the year 201011 in the Private
Sector Bank category and 2nd runner up for the year 201112 in the Commercial Bank
category.

2013

ICICI Bank has been adjudged winner at the Express IT Innovation Award under the
Large Enterprise category
ICICI Bank won the RMAI received the "Gram Samvad", Service for Low cost/Small
budget marketing initiative Award by Rural Marketing Association of India (RMAI).
ICICI bank won the 'Next Generation Banking solution' award by Celent.
ICICI bank won the Best Domestic Trade Finance Bank and Best Financial Supply Chain
Project Award in India by The Asian Banker
ICICI Bank won the honours of the Medici Innovation Hall of Fame Award, instituted by
The Medici Institute in collaboration with the Medici Group, USA.

22
2014

According to the Brand Trust Report 2014, ICICI Bank was ranked 28th among India's
most trusted brands, a research conducted by Trust Research Advisory.
ICICI Bank was ranked second at the 'National Energy Conservation Award 2014' under
the office buildings (less than 10 lakh kWh/year consumption) category.
ICICI Bank was fifth in the world and second in India on the 'Top Companies for
Leaders' in a study conducted by Aon Hewitt.
ICICI bank won the Best Private Sector Bank - Global Business Development by Polaris
Financial Technology Banking Awards 2014.
IDBRT awarded ICICI for 'Best Bank Award for Business Intelligence Initiatives among
Large Banks' and 'Best Bank Award for Social Media and Mobile Banking Among Large
Banks'.
ICICI bank was awarded the Certificate of Recognition as one of the Top 5 Companies in
Corporate Governance in the 14th The Institute of Company Secretaries of India National
for Corporate Governance. They were honoured by Arun Jaitley.

Awards ICICI Bank was awarded the 'Best Retail Bank in India', 'Best Microfinance
Business' and 'Best Retail Banking Branch Innovation' under the 'Excellence in Retail
Financial Services awards 2014' and Technology Implementation Award for Lending
Platform Implementation by The Asian Banker.

2015

ICICI Bank won an award in the BFSI Leadership Summit & Awards in the 'Best Phone
Banking for End-users' category
ICICI Bank won in six categories and was the first runner-up in one category among
Private Sector Banks at IBA Banking Technology Awards, 2015. The bank was declared
winner in the six categories of Best Technology Bank of the Year, Best use of Data, Best
Risk Management Initiatives, Best use of Technology in Training, Human Resources and
e-Learning initiatives, Best Financial Inclusion Initiative and Best use of Digital and

23
 Channels Technology. ICICI Bank was the first runner-up in Best use of Technology to
Enhance Customer Experience
ICICI Bank has been declared as the first runner up at Outlook Money Awards 2015 in
the category of Best Bank
ICICI Bank has been adjudged the Best Retail Bank in India by The Asian Banker. It
has also emerged winners in the categories of Best Internet Banking Initiative and Best
Customer Risk Management Initiative awards given by The Asian Banker.
Best Local Trade Finance Bank in India at Global Trade Review Asia Leaders in
Trade Awards 2015.
Best Foreign Exchange Bank in India, at Finance Asias 2015 Country Banking
Achievement Awards.
Best Private Sector Bank under Global Business category at the Dun & Bradstreet
Banking Awards 2015.
Best Website Design in Asia-Pacific at Global Finance 2015 Worlds Best Digital Bank
Awards.
Winner at the National Energy Conservation Awards 2015 under the Office Buildings
category (energy consumption of over 1 million units per annum).
First among private sector banks in The Economic Times Brand Equitys Most Trusted
Brands survey 2015.
Runner up in the categories of Immediate Payment Service, Cheque Truncation
System and National Financial Switch at the National Payments Excellence Awards
2015 organised by the National Payments Corporation of India. The Bank was also
felicitated with a special award for issuing the largest number of RuPay Platinum cards.

24
2016

Best Retail Bank in India at the Asian Banker International Excellence in Retail
Financial Services Awards 2016. ICICI Bank has won this award three years in a row.
Gold awards in the Bank and Credit card issuing Bank segments under Finance
category in the Readers Digest Trusted Brand 2016 Survey.
First in The Brand Trust Report, India Study 2016 by Trust Research Advisory under the
Banking Financial Services and Insurance category.
Winner at the Global Safety Awards 2016 organised by the Energy and Environment
Foundation. This award is sponsored by Ministry of Petroleum & Natural Gas and
Ministry of Coal, Government of India.
ICICI on 10 Sep 2016 announced 'software robotics' initiativea first by any Indian
bank. Over 200 software robots are now performing over 1 million transactions per day
for the bank which comprises 10% of its total transactions

25
 CHAPTER II-
LITERATURE REVIEW

26
2.1.1 Definitions by authors:

Consumer Behavior:-

consumer satisfaction is a term frequently used in marketing. It is a measure of how products

and services supplied by a company meet or surpass customer expectation. Robert bill

Customer satisfaction is defined as "the number of customers, or percentage of total customers,

whose reported experience with a firm, its products, or its services (ratings) exceeds specified
satisfaction goals." by mike Jennar

Customer satisfaction measures how well the expectations of a customer concerning a product
or service provided satisfaction provided by the goods or services of a company as measured by
the number of repeat customers. by Rachel Paterson

When customers are pleased with the goods or services they have bought, you can refer to
customer satisfaction. by kylie Thomas

Customer by a customer with a satisfaction measures how well a firm is able to meet the
expectations of customers. by times lexicon

Customer satisfaction is a key concept in marketing, as a firm cannot retain its customers unless
it has highly satisfied product or service obtained from a business . by joseph Timberlake

Customer satisfaction is a term used to describe a scenario when an exchange meets the needs
and expectations of its user. It captures the provision of goods or services that fulfil the
customers expectations in terms of quality business term, can also be used to measure how the
supply of products or services surpasses customer expectations and service in relation the price
to paid. by John Salvatore

In customer relationship management, customer satisfaction (CSAT) is a measure of the degree

to which a product or service meets the customer's expectations. by gorge Wayne

27
Customer satisfaction is an abstract concept and involves such factors as the quality of the
product, the quality of the service provided, the atmosphere of the location where the product or
service is purchased, and the price of the product or service. By t Salvatore

Businesses often use customer satisfaction surveys to gauge customer satisfaction. These surveys
are used to gather information about customer satisfaction. Typical areas addressed in the
surveys include :

Quality of product

Value of product relative to price - a function of quality and price

Time issues, such as product availability, availability of sales assistance, time waiting at
checkout, and delivery time

28
 CHAPTER III

RESEARCH METHODOLOGY

29
3.1 OBJECTIVE OF THE STUDY

Objectives are the ends that states specifically how goal be achieved. Every study must have an
objective for which all the efforts have been done. Without objective no research can be
conducted and no result can be obtained. On the basis of objective all the research process is
followed. Objectives are the main aspect of every study. The objective of the study gives
direction to go through the research problem. It guides the researcher and keeps him on track. I
have two objectives regarding my research project. These are shown below :-

1.To know the consumer satisfaction regarding technology used by icici bank.

2.To identify the consumer preference which make bank more valuable.

3.To know the consumer satisfaction regarding knowledge of icici employees used of
technology.

30
Meaning of Research:

Research is defined as a scientific and systematic search for pertinent information on a specific
topic. Research is an art of scientific investigation. Research is a systematized effort to gain
now knowledge. It is a careful investigation or inquiry especially through search for new facts in
any branch of knowledge. Research is an academic activity and this term should be used in a
technical sense. Research comprises defining and redefining problems, formulating hypothesis or
suggested solutions. Making deductions and reaching conclusions to determine whether they if
the formulating hypothesis. Research is thus, an original contribution to the existing stock of
knowledge making for its advancement. The search for knowledge through objective and
systematic method of finding solutions to a problem is research.

31
TO MAKE A FINANCIAL ANALYSIS OF FINANCIAL STATEMENTS
OF ICICI BANK

Research Design
A research designs is the arrangement of conditions for collection and analysis data in a manner
that aims to combine relevance to the research purpose with economy in procedure. Research
Design is the conceptual structure with in which research in conducted. It constitutes the
blueprint for the collection measurement and analysis of data. Research Design includes and
outline of what the researcher will do form writing the hypothesis and it operational implication
to the final analysis of data. A research design is a framework for the study and is used as guide
in collection and analyzing the data. It is a strategy specifying which approach will be used for
gathering and analyzing the data. It also include the time and cost budget since most studies are
done under these two cost budget since most studies are done under theses tow constraints. The
design is such studies must be rigid and not flexible and most focus attention on the following:-

What is the study about?

Why is the study being made?
Where will the study be carried out?
What type of data is required?
Where can be required data be found?
What period of time will the study include?
What will be sample design?
What techniques of data collection will be used?
How will the data be analyzed?
In what style will the report be prepared?

32
TYPES OF RESEARCH DESIGN :

EXPERIMENTAL RESEARCH DESIGN

EXPLORATORY RESEARCH DESIGN
DESCRIPTIVE& DIAGNOSTIC RESEARCH

Exploratory Research Design: This research design is preferred when researcher has a vague
idea about the problem the researcher has to explore the subject.

Experimental Research Design The research design is used to provide a strong basis for the
existence of casual relationship between two or more variables.

Descriptive Research Design It seeks to determine the answers to who, what, where, when
and how questions. It is based on some previous understanding of the matter.

Diagnostic Research Design It determines the frequency with which something occurs or its
association with something else.

33
RESEARCH DESIGN USED IN THE STUDY:

Descriptive research design is used in this study because it will ensure the minimization of bias
and maximization of reliability of data collected. Descriptive study is based on some previous
understanding of the topic. Research has got a very specific objective and clear cut data
requirements The researcher had to use fact and information already available through financial
statements of earlier years and analyse these to make critical evaluation of the available material.
Hence by making the type of the research conducted to be both Descriptive and Analytical in
nature. From the study, the type of data to be collected and the procedure to be used for this
purpose were decided.

34
 Data Collection Method

The process of data collection begins after a research problem has been defined and research
design has been chalked out. There are two types of data

PRIMARY DATA -

It is first hand data, which is collected by researcher itself. Primary data is collected by various
approaches so as to get a precise, accurate, realistic and relevant data. The main tool in gathering
primary data was investigation and observation. It was achieved by a direct approach and
observation from the officials of the company.

SECONDARY DATA - it is the data which is already collected by someone else. Researcher
has to analyze the data and interprets the results. It has always been important for the completion
of any report. It provides reliable, suitable, adequate and specific knowledge.

35
Methods of data analysis

The data collected were edited, classified and tabulated for analysis. The analytical tools used in
this study are:

ANALYTICAL TOOLS APPLIED:

The study employs the following analytical tools:

1. Comparative statement.
Trend Percentage.
2. Ratio Analysis.
3. Cash Flow Statement.

36
 Limitations of study

Difficulty in data collection.

Limited knowledge about the bank in the initial stages.
Branch manager was reluctant for giving financial data of the bank.
The analysis and interpretation are based on secondary data contained in
the published annual reports of ICICI Bank for the study period.
Due to the limited time available at the disposable , the study has been
confined for a period of 5 years (2005-2009).
Ratio itself will not completely show the companys good or bad
financial position.
Inter firm comparison was not possible due to the non availability of
competitors data.
The study of financial performance can be only a means to know about
the financial condition of the company and cannot show a through
picture of the active

37
 CHAPTER IV
DATA ANALYSIS AND
INTERPRETATION

38
Analysis-1. Which category of the banks do you consider as most technologically advanced?

A. Public sector bank B. Private sector bank

Options Number of respondents Percentage of responses
Public Sector Bank 70 33%
Private Sector Bank 30 67%
Total 105 100%

33.00%

Public sector bank

private sector bank

67.00%

INTERPRETATION: out 105 people ,70 people use to open bank accounts with public banks
and 30 people have their accounts with private bank.

39
Analysis-2. Which attribute of the bank do you value the most?

Option Number of respondents Percentage of responses

Quality of Service 55 53%
Technology used 15 14%
Trust 20 19%
Location 15 14%
Total 105 100%

14%

Quality of service

19% Technology used

Trust
53%
location

14%

INERPRETATION: Most of the people value the quality of service icici bank provide which is
53%.

Analysis-3. Which factor promotes you to use the new techniques in banking? ( Tick all that are
applicable )
40
.

Option Number of respondents Percentage of responses

Reduce time of transaction 30 29%
Cost effectiveness 10 9%
Ease of use 30 29%
Technology 35 33%
Total 105 100%

29%
33%
Reduce time of transaction
cost effectiveness
Ease ofuse
technology
9%

29%

INTERPRETATION: 33%people thinks that Technology is the factor of using new technique
of banking.

.Analysis-4. How familiar are you with computer usage level of your bank?

41
Option Number of respondents Percentage of responses
No Knowledge of computer 8 8%
Beginner 10 9%
Average Knowledge 42 40%
Advance Computer 45 43%
Knowlwdge
Total 105 100%

8%

9%

No knowlegde of computer
45%
bignner
Average knowlegde
advance comuter knowlegde

40%

INTERPRETATION: 45% people are more familiar with computer usage level or you can say
that technology usage.

Analysis-5. Consumer level of usage of technology ( Tick all that are applicable to you )

42
Options Number of respondents Percentage of responses
Connected to internet 15 14%
Uses E-mail 10 9%
Atm/Debit card service 20 19%
Credit card service 25 25%
Online banking services 15 14%
E-payements 5 5%
Electronic fund transfer 15 14%
Total 105 100%

5%
14%

14%
Connected to internet
uses e mail
9%
ATM Debit card
credit card
online banking
e payements
25% 19%

INTERPRETATION: customer level of technology usage is 25% is the highest percentage of

people using credit card service.

Analysis-6. How frequently do you use the ATM service per month?

43
Options Number of respondents Percentage of responses
Nil 0 0%
1 to 3 20 19%
3 to 8 30 28%
8 to12 40 38%
Over 12 15 15%
Total 105 100%

0%

15%
19%

Nil
1to3
3to8
8to12
over 12
28%
38%

INTERPRETATION: 38% people are the people who use ATM 8 ti12 times per month , this is
the highest percent

44
Analysis-7. Are you satisfied with the icici bank services ?

Options Number of respondents Percentage of responses

Very good 57 54%
Good 23 22%
Average 20 19%
Not satisfied 5 5%
Total 105 100%

Sales

5%

19%
very good
good
average
54%
not good
22%

INTERPRETATION: 54% of people are said that icici bank service is very good

45
Analysis-8. Which kind of bank account do you have with icici bank ?

Options Number of respondents Percentage of responses

Current account 45 43%
Saving account 20 19%
Recurring deposit 25 24%
Fixed deposit 15 14%
Total 105 100%

24%

Current A/C
Savings A/C
43%
recurring deposit
fixed deposit

19%

INTERPRETATION: The most opened Account with icici is current Accounts which is 43%.

46
Analysis-9. Have you seen the advertisement of icici bank ?

Options Number of respondents Percentage of responses

Yes 98 93%
No 7 7%
Total 105 100%

7%

Yes
No

93%

INTERPRETATION: 93% have seen the advertisement of icici bank.

47
Analysis-10. Do you know about the technology used in icici bank ?

Options Number of respondents Percentage of responses

Yes 75 72%
No 30 28%
Total 105 100%

28%

Yes
No

72%

INTERPRETATION: 72% knows the policies of icici bank.

48
 CHAPTER V-
FINDINGS AND SUGGESTIONS

49
5.1.FINDINGS
72% knows the policies of icici bank.
93% have seen the advertisement of icici bank.
The most opened Account with icici is current Accounts which is 43%.
54% of people are said that icici bank service is very good.
38% people are the people who use ATM 8 ti12 times per month , this is the highest
percent.
customer level of technology usage is 25% is the highest percentage of people using
credit card service.
45% people are more familiar with computer usage level or you can say that technology
usage.
33%people thinks that Technology is the factor of using new technique of banking.
Most of the people value the quality of service icici bank provide which is 53%.
out 105 people ,70 people use to open bank accounts with public banks and 30 people
have their accounts with private bank.

50
Suggestions

The profitability of the bank for the period under study is not satisfactory. Profits are
increasing but not with same pace as of the expenditure due to higher reliance on debt
capital in the form of borrowings and loans for financing capital structure. So in order to
improve profitability, the bank should reduce its dependence on external equities for
meeting capital requirements. Consequently, the interest expenses will decline and profits
will increase which is good for the bank. Similarly non productive expenses should be
curtailed to improve profitability.
Higher trend of credit deposit ratio reveals that the bank has performed satisfactorily as
regard to granting loans and advances to generate income. It suggests that the credit
performance of bank is good and it is performing its business well by fulfilling the major
objective of granting credit and accepting deposit. So in order to have more creditability
in the market the bank should maintain its credit deposit ratio.
Though the bank has been successful in increasing its deposits but to further improve
upon such situation it can introduce some new and attractive schemes for public. Such
schemes can be in the form of higher rate of interest and shorter maturity period for FDs
etc.
Bank should try to finance more and more projects. Financing will help it to earn higher
amount of profits.
The bank is having a greater reliance on debt capital. The increasing reliance on external
equities may prove hazardous in the long run. So in order to remedy this situation bank
should increase its focus on internal equities and other sources of internal financing.
Bank can also think for improving its day-to -day service to its clients. Such service can
be improved by providing prompt service and showing an attitude of co-operation to its
clients. It will help to give a kind of confidence to the public and build a better public
image.

51
 To achieve the objective of Rural development it should open more and more branches in
different rural areas of the country. It will facilitate in providing help to rural poor
farmers and other living below the poverty line. Bank can appoint commission agents for
different area who can encourage general public to invest in the capital of the bank and
make more deposits in ICICI Bank.
The bank should simplify the procedure of advances for quick disbursement.
To achieve organizational success a proper independent working atmosphere should be
developed to achieve desired objective more effectively.
Last but not least, bank should adopt branch automation experiment to control the
operational cost.

52
 CHAPTER VI-
CONCLUSION

53
 CONCLUSION

After working on this project its my immense pleasure to say its been most beneficial to me as it
gave a lot of knowledge about the banking sector in India, which also include how there has
been a change in the insurance sector in India over the years with more and more different kind
of insurance policies emerging constantly. Also while working in ICICI bank has given me a vast
knowledge on marketing which is a creative and innovative field whose study and usage requires
good interaction and communication skills to encourage more and more people to invest in
insurance policies.

Through this I came to know about the mindset of a customer as an investor and their interest
regarding a particular policy but also identifying their insurance need.

Therefore ICICI bank has been a successful organization over the past few years but there is still
scope for improvement ,as the insurance sector in India has grown a lot ,certain parts of scope for
improvement which are suggested as followed :-

1. Direct door to door interview.

2. Spreading, expanding the need and awareness of insurance among the people through
different means of communication viz. sms, television etc.
3. Introducing new policies according to the customer needs.
4. Improving the various customer services by using more efficient customer relation
management, thereby which will lead to improvement in the overall banking of ICICI
Bank.

54
 BIBLIOGRAPHY

55
 BIBLIOGRAPHY

BOOKS:

1. Kumar, Ramesh, Application Exercises in Management, Vikas Publishing House,2004.

2. Varshney & Gupta, Marketing Management, Sultan Chand & Sons, 2005.
3. Kotler & Armstrong, Principles of Marketing Management, Prentice Hall India, 2003

WEB:

http://www.google.com/www.icicilifeinsurance.com

http://www.google.com/www.iciccprudential.com

http://www.google.com/wwww.icici.com

NEWSPAPERS AND MAGAZINES:

INSURANCE CHRONICAL BY ICFAI

Economic times
Business world (may, 2011 2nd edition )

56
 QUESTIONNAIRE

57
 QUESTIONNAIRE

NAME:..
AGE:.
CONTACT NO.:..

Q-1.Which category of the banks do you consider as most technologically advanced?

Q-2.Which attribute of the bank do you value the most?

Q-3.Which factor promotes you to use the new techniques in banking? ( Tick all that are
applicable )

Q-4. How familiar are you with computer usage level of your bank?

Q-5. Customer level of usage of technology ( Tick all that are applicable to you )
to the Internet at home or work to do their financial transactions
mail

payments

Q-6.How frequently do you use the following banking services per month?

Q-7.Are you satisfied with the icici bank services ?

58
.Q-8. Which kind of bank account do you have with icici bank ?

Q-9.Have you seen the advertisement of icici bank ?

Q-10. Do you know about the policies of icici bank ?

59