PROJECT REPORT ON

THE INVESTMENT PATTERN AND BANKING NEEDS OF THE HOUSING SOCIETIES

EXECUTIVE SUMMARY
I have undertaken this project to gauge the needs of the customers of Special Savings Accounts & their investment pattern, so that the sale of the product could be superfluous in the market. A survey was conducted in this regard keeping in mind the objectives of the report. Then the data source was determined. I chose presidents, secretaries, treasures and managers of the housing societies as the important data source. The research design selected was descriptive study. Well-formatted questionnaire was prepared. After that, data was collected. The sampling design was sample survey and sample size decided was 50 persons from different societies. Those persons were management committee executive members. Important information were selected from the collected data. To make the presentation of data attractive, I formatted them in graphs. Graphical presentation of data is easier to understand and data can be understood quickly. Then data was analyzed and found that due to more physical distance of the branch, they are less interested in opening up Special Savings Accounts in ICICI Bank, Mayur Vihar, Delhi. Therefore, more focus and attention is needed to attract more customers. For this, enhancement in the services is required. To become more competitive, ICICI Bank will have to give more facilities in comparison to public sector banks, so it can lead in the market. For this, further suggestions I have given. Those suggestion are not cost intensive. They are easier to implement. All this was quite interesting for me. I enjoyed interacting with the high profile people and learnt a lot.

ABOUT THE PROJECT

INTRODUCTION OF THE TOPIC

I was given a very unique kind of topic related to housing societies. Simultaneously, with the project I was involved in the selling of special saving bank account. I found that despite the strength of the brand image of the ICICI Bank, the product was not selling much. I felt that there might be some problem in the product or the way in which the product is offered or services. Then, I decided to find out the investment pattern & banking needs of the housing societies, because it could give me the way to enter into the base of the problem. My research topic is THE INVESTMENT PATTERN AND BANKING NEEDS OF THE HOUSING SOCIETIES. This covers all the aspects of banking needs, problems and their solutions. Here, the sample size could not be so big in comparison to the sample size of other type of studies. Therefore, 50 societies were targeted and their concerned authorities were asked to fill the questionnaire. The president, secretary, treasurer or manager of each housing society was given the questionnaire form to fill. Obviously, it was a hectic job, but its results gave many interesting facts. And, those facts are quite helpful in estimating the problems of the societies.

THE RESEARCH PROBLEM

The first step in research is formulating a research problem. It is the most important stage in applied research, as poorly defined problems will not yield useful results. It is rightly said, a problem well defined is halfsolved. Poorly defined problems cause confusion and do not allow the researcher to develop a good research design. In order to identify research problem, three categories of symptomatic situations, namely, overt difficulties, latent difficulties and unnoticed opportunities should be studies. Overt difficulties are those which are quite apparent and which manifest themselves. Latent difficulties, on the other hand, are those which are not so apparent and which, if not checked, would soon become evident. Unnoticed opportunities indicate the potential for growth in a certain area of marketing. Such opportunities are not clearly seen and some effort is required to explore them. The problem which I identified is latent difficulties as well as unnoticed opportunities, because if not checked, would soon become evident and sales can be improved much. The problem is special savings account is not selling much. I felt it as a problem, because according to the strength of the brand the special savings account was not selling. So, there is much need to trap the customers, if not trapped the competitors would take the advantage of it and can challenge the market share of ICICI Bank, especially in the case of special savings account. Therefore, proactive approach is the muchneeded demand of the time.

OBJECTIVES
The research objective is to find out the effective and reasonable solution to the problem. In this context, after doing SWOT analysis, the suitable answers to the following questions would be greatly required and would be the objective of the study: 1. Strengths- how can ICICI Bank utilize its resources optimally to provide the customers better satisfaction and facilities in special savings accounts? 2. Weaknesses- how can the bank overcome the weaknesses so that the competitors could not take undesirable advantages of it? 3. Opportunities- where the potential market lies and how to trap that? 4. Threats- is there any big competitor to the ICICI Bank? If any, then how to compete with them? What necessary steps would be required to compete with the policies & schemes of the competitor? The clear, concise and focused objective is the soul of the research process. Also, you can say it is the guiding factor in the whole research execution. In absence of well-defined objective, the project may deviate from the proper path and even can change the track. This might spoil the whole effort and the result would be worthless. In simple words, the main objective of this project is to find out the investment pattern and banking needs of the housing societies, so that the effective steps could be taken to make the sale of the product, special savings account (SSA), superfluous in the market.

DATA SOURCE DETERMINATION & RESEARCH DESIGN SELECTION

The next step is to determine the sources of data to be used. The marketing researcher has to decide whether he has to collect primary data or depend exclusively on secondary data. Sometimes, the research study is based on both secondary and primary data. When a study is to be based on secondary data, whether partly or fully, it is necessary to satisfy oneself that the data are quite suitable for the objectives spelt out by the study. It is only when such secondary data are unavailable, inadequate, or unreliable, that a researcher should decide on collecting fresh data. Here in this case, the secondary data are unavailable and inadequate. Therefore, fresh data or primary data collection is the only option left with me. Also, this research is unique in itself. So, primary data collection is the only way to proceed with the research process. The targeted respondents are the management committee executive members of the targeted housing societies. Obviously, it would require special expertise and attention to design data collection forms. A research design specifies the methods and procedures for conducting a particular study. The researcher should specify the approach he intends to use with respect to the proposed study. Research designs can be grouped into three categories- exploratory research, descriptive research and causal research. An exploratory research focuses on the discovery of ideas and is generally based on secondary data. A descriptive study is undertaken when detailed, specific and fresh data is required. In contrast to exploratory studies, descriptive studies are well

structured. A causal research is undertaken to know the cause and effect relationship between two or more variables. Therefore, in this case descriptive study would be needed and would be very much suitable and appropriate.

DESIGNING DATA COLLECTION FORMS

Once the decision in favour of collection of primary data is taken, one has to decide the mode of collection. The two methods available are: 1. Observational method, and 2. Survey method. Observation: This method suggests that data are collected through ones observation. But, the observational method is not suitable in this case of study, because the data required cannot be gathered without thorough interview of the persons concerned. Surveys: In marketing research, field surveys are commonly used to collect primary data from the respondents. Surveys can be (i) personal (ii) telephonic (iii) by mail and (iv) by diary. Of these, personal and mail surveys are more frequently used in India. A choice has to be made regarding the type of survey for collecting data. There are certain advantages and limitations of each type of survey. Broadly speaking, telephonic survey is suitable when very limited information is sought in a short period of time. Moreover, such information should be readily available with the respondents. Here, neither limited information is sought nor there is lack of time. So, telephonic survey is neither suitable nor required. Also, Data collection by mail or diary is not suitable in this study. Surveys based on personal interviews are suitable when detailed information is to be collected. Sometimes a combination of two or more methods could also be used. It is very much suitable here to undertake personal interviews. It is a common practice to use structured questionnaires, to elicit the necessary

information from the respondents. The pre-testing of questionnaire is necessary and will enable the researcher to realize the shortcomings of his questionnaire. The designed and pre-tested questionnaire is attached in the appendices section.

DETERMINING SAMPLING DESIGN AND SAMPLING SIZE

Another aspect, which forms a part of research process, is the sampling plan. When the marketing researcher has decided to carry out a field survey, he has to decide whether it is to be a census or sample survey. In almost all cases, a sample survey is undertaken on account of its overwhelming advantages over a census survey. When a decision in favour of a sample survey has been taken, it is necessary to have a clear definition of the population from which the sample is to be drawn, before deciding on the type of sample design to be used. The type of sample design chosen will depend on its suitability and also the availability of the requisite sample frame. Here, the sample design decided is the sample survey, because personal interaction and attention is needed to gather the huge amount of information. Also, involvement and participation of every housing society is not needed, because their structure and execution style are same. And, Answers of open-ended questions cannot be taken by census method. Also, concerned people would not be interested, because they are not going to be benefited directly. Therefore, in spite of census method, sample survey would be the right choice. The type of sample design used is the random sampling, because every unit in population is given equal probability any one unit is not special. Since, rules and by laws are same for every housing society so their investment pattern, types of sources of income and banking needs would be approximately similar. Therefore, big sample size is not required. Also, big sample size will cause unnecessary delay in the completion of the project. So, targeting 50 housing society is enough.

RETAIL BANKING
The retail business is the key driver of ICICI Banks growth strategy, with the objective of diversifying the asset portfolio and building a lowcost stable resource base. With a 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 the 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 product, 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 controls and high customer service standards and rapidly growing volumes in each segment to achieve economies of scale. ICICI Banks retail portfolio (including the portfolio of ICICI Home Finance Company Limited, its wholly-owned subsidiary) at March 31, 2002 was over Rs. 76.00 billion, as compared to the combined retail portfolio of ICICI and ICICI Bank of about Rs. 29.00 billion at March 31, 2001. Their retail asset products include mortgages, automobile and two-wheeler loans, commercial vehicles and construction equipment financing, consumer durable loans, personal loans and credit cards. In the mortgages business, ICICI Bank expanded its reach to more than 140 locations across the country. They were the first to introduce

adjustable rate home loans, with interest rates linked to a floating prime lending rate. This product received excellent response from customers across the country and was a key driver of growth in the mortgages segment. This also enabled the Bank to price loans competitively and achieve better asset-liability management. Other products and product variants introduced this year included loans against existing 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 they consolidated their position as clear market leaders in automobile loans. They expanded their 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 manufacturers, strong distribution capability and customer service focus. This rapidly increased their presence in other segments as well. They expanded their two-wheeler business to over 140 locations. ICICI Bank partners manufacturers in distributing their products and therefore enjoys preferred status with them. 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 to 36 locations. The total number 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 Banks Ncash debit card is a deposit access product that allows cash withdrawals through ATMs and also enables purchases at merchant establishments with point-of-sale terminals. The card is valid internationally and earns loyalty points on usage. They also introduced a domestic debit card variant primarily for their 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 funding base, they continued their focus on retail deposits in fiscal 2002. The number of customer accounts increased from 3.2 million to over 5 million. ICICI Banks life stage segmentation strategy offering differentiated liability products to various categories of customers (kid-e-bank for children, bank@campus for students, PowerPay for salaried employees, ICICI Select for high networth 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 are complementary to those that they offer directly, while leveraging their distribution capability to earn fee income from third parties. They also provide online trading facilities through www.ICICIdirect.com. ICICI direct provides complete end-to-end integration for seamless

electronic trading on the stock exchanges and has been rated TxA1 by CRISIL, indicating highest ability to service broking transaction. ICICI direct 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 their customers 24x7 access to banking services. The enhanced convenience that this offers the customer has supported our 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 our ATMs. Other new initiatives on ATMs include multilingual screens, bill payments and prepaid mobile card 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 accounts 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 e-Cheques, 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 the 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. The call center is a single point of contact for customers across all products. It provides various self-service 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 call 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 Banks 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.

ABOUT THE PRODUCT

NAME OF THE PRODUCT: Special Saving Account CUSTOMERS: Trusts, Associations and Clubs PRODUCT FEATURES: No requirement of minimum balance. Multi-city cheque facility. Free collection of cheques at upcountry locations. Anywhere banking: An account opened in one branch can be accessed from any other branch in that city or in any other city. Cheques deposited in one branch in a city can be credited to customers account in another branch in that city or in any other city as a local cheque. The facilities offered are cheque deposit, cash deposit and cash withdrawal. Free cash withdrawals/deposits with a maximum limit of Rs. 50,000/- per day per account. For withdrawals/deposits above this limit charges to be collected @ Rs. 1.50/- per thousand with the minimum of Rs. 25/-. Phone Banking: Balance enquiry Stopping a cheque Monthly account statements free of charge. Quantum Optima Facility: If the balance in the customers account exceeds Rs. 10,000/- surplus will move into a fixed deposit in multiples of Rs. 5,000/-. Deposits can break in units of Rs. 1,000/-.

This facility will be optional. Investment advisory/assistance. Payroll processing for employees of the organization through ICICI Bank Salary Accounts. Doorstep banking services (cash pickup/delivery, cheque pickup) will be made available at a cost. ELIGIBILITY: 1. Any trust constituted under Indian Trust Act or any other statute. 2. Registered Provident Funds. 3. Association any group of people, who have joined together for a particular purpose and usually, meant to be a continuing organization. It can be formal, with rules and/or bylaws, membership requirements and other trappings of an organization, or it can be a collection of people without structure. An association is not a legally established corporation or a partnership. Club is a kind of association. 4. Bylaws of a trust/association should permit to open savings bank account with a bank. 5. Income tax exemption and being a non-profitable entity is mandatory for opening a savings bank account for this segment. DOCUMENTATION AS PER CONSTITUTION: Trusts Specimen signatures and photographs of all authorized signatories Certified true copy of the trust deed Resolution to open the account List of all trustees

 Certificate of tax exemption, if any A stamp of the trust is required with all the signatures Association/Club Certified true copy of the rules and bylaws Certified true copy of certificate of registration Certified true copy of resolution to open the account Specimen signatures and photographs of all authorized signatories Certificate of tax exemption, if any A stamp of the association/club is required with all the signatures

GRAPHICAL PRESENTATION OF SELECTED & PRECISE DATA AFTER PROCESSING THE COLLECTED DATA
On the basis of survey done on the housing societies located near MAYUR VIHAR, DELHI, I have found many interesting things regarding their investment pattern, needs, preferences and utility value of the services provided by the banks. Sample size was of 50 housing societies. Each questionnaire form was filled up by either the president or secretary or treasurer or manager of the housing society. My findings are as follows:  UTILITY OF QUANTUM OPTIMA FACILITY PROVIDED BY ICICI BANK

0% 6% 12% 82%
NOT USEFUL AVERAGE USEFUL VERY USEFUL

This chart shows the importance of quantum optima facility provided by ICICI Bank. In the survey 82% people opted very useful. Nobody has selected not useful option. So, this facility is very beneficial for the customers.

 OPTIMUM FREQUENCY OF SENDING ACCOUNT

STATEMENT

90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

2%

86%

12%

WEEKLY MONTHLY QUARTERLY

Very few people have given choice for weekly account statement. Maximum number of housing societies needs monthly account statements. Therefore, it is the ideal frequency of sending account statement.

 INTERNET BANKING

6%

94%

0%

20%

40%

60%

80%

100%

120%

VERY USEFUL

USEFUL

AVERAGE

NOT USEFUL

This graph shows that Internet banking is not important for the housing societies. Those who have given it average importance, they actually do not use Internet banking.

 PHONE BANKING

84% 4% 0% 12%

0%

20%
VERY USEFUL

40%
USEFUL

60%
AVERAGE

80%

100%

NOT USEFUL

This facility is also not so important for them as 84% people have said it not useful.

 USEFULNESS OF OUTSTATION DONATION COLLECTION

FACILITY

62% 38% YES NO

62% people agree with the usefulness of outstation donation collection facility, while 38% disagree. Sometimes, it happens that the residents go outstation for long duration. In those times, this facility provides them great help.

 USEFULNESS OF PAYROLL PROCESSING FOR

EMPLOYEES

92% 6% 2% 0%

0%

20%

40% USEFUL

60%

80%

100%

VERY USEFUL

AVERAGE

NOT USEFUL

Managing committee executive members have given it less importance, as 92% have said it not useful for housing societies. Only 1 person out of 50 has tick marked useful option and 3 out of 50 have tick marked average option.

 RANKING OF THE FACILITIES PROVIDED BY BANKS

ACCORDING TO THE PERCEPTION OF MANAGING COMMITTEE EXECUTIVE MEMBERS 1. 2. 3. 4. 5. 6. 7. 8. 9. Physical proximity of branch Liquidity Rate of interest Ease in operations Monthly account statement Minimum balance clause Door-step banking services Lock-in period in bonds Multi-city cheque book

 SOURCES OF INCOME OF THE SOCIETY

1. 2. 3. 4. Maintenance charges 95% contribution Sale of parking space inside the apartment to the residents. Auction of kabari materials. Development charges from tenants.
5%

k 0{ MAI { 95%

Maintenance charges are the main source of income for the society as the residents on monthly basis deposit it regularly. Other sources are not permanent sources of income. Maximum persons have said that maintenance charges contribute 95% to the income of the society.

 FINANCIAL PRODUCTS IN WHICH THEY INVEST

70% 60% 50% 40% 30% 20% 10% 0%

30% 70%

SPECIAL SAVING ACCOUNT FIXED DEPOSIT

Average of the values filled by them is calculated and are shown here. It is clear over here that they are actually interested in only two products i.e., special saving account & fixed deposit. They have to spend money regularly on the maintenance of the societies. So they keep maximum amount in SSA.

 CAUSES OF DELAY IN OPENING UP NEW SPECIAL

SAVINGS ACCOUNT Simultaneously with the project, I was selling the special saving account. I felt that by so many causes delays in opening up SSA generally happens. So, I tried to find out the reasons. The main factors or hurdles are as follows: 1. The delays often take place for making consensus among the managing committee executive members, especially in the matters related to finance. 2. Lengthy formalities of paper work. 3. Insincerity of bank employees.

DATA ANALYSIS & INTERPRETATION

Once the field survey is over and questionnaires have been received, the next task is to aggregate the data in a meaningful manner. A number of tables are prepared to bring out the main characteristics of the data. The analysis & interpretation is given as follows:
1. Usefulness of two in one or quantum optima

Collected data is:

Very useful Useful Average Not useful Total Respondents 41 6 3 0 50

Analysis: Respondents have reacted very excitingly to this facility. Nobody has said it not useful. 41 out of 50 respondents have said this facility very useful. And, 6 out of 50 have said it useful. Means 47 out of 50 understands the utility of this facility. They rank its utility high. So, this facility provides strength to the product. There is no need to make any change in this facility in near future.

2. Optimum frequency of sending account statement Collected data is:

Weekly Monthly Quarterly Total Respondents 1 43 6 50

Analysis: It is obvious from the data that no respondent want the account statement so frequently as only 1 out of 50 has said that he need it weekly. Maximum have said that they need it monthly as 43 out of 50 have given their consent in this regard. ICICI Bank is providing monthly account statement and that is optimum frequency for sending account statement. 3. Internet Banking Collected data is:
Very useful Useful Average Not useful Total Respondents 0 0 3 47 50

Analysis: Maximum have said Internet banking is not useful for them as 43 out of 50 have said so.

4. Phone Banking Collected data is:

Very useful Useful Average Not useful Total Respondents

0 2 6 42 50

Analysis: 43 out of 50 have said it is not useful. So, this facility also doesnt attract customers. 5. Usefulness of outstation donation collection facility Collected data is:
Yes No Total Respondents 31 19 50

Analysis: As 31 out of 50 respondents say, they need this facility. Sometimes, it happens that some residents of the housing societies go outstation for long period of time. In that case, this facility is very helpful for them. Residents can pay their maintenance charges to their societies from other cities using this facility. So, this facility attracts the customers much.

6. Usefulness of payroll processing for employees facility Collected data is:

Very useful Useful Average 0 1 3

Not useful Total Respondents

46 50

Analysis: As employees of the housing societies are not much paid, so they are not able to maintain a saving bank account in which minimum quarterly balance needed is Rs. 5,000/-. Also, they are not used to ATMs. In that case, this facility doesnt attract much. 7. Ranking of the facilities according to the perception of customers Collected data is:
Ranking According to Respondents Perception 1. 2. 3. 4. 5. 6. 7. 8. 9. Facilities Physical Proximity of branch Liquidity Rate of interest Ease in operations Monthly account statement Minimum balance clause Door-step banking services Lock-in period in bonds Multi-city cheque book

Analysis: Here, from the data given above, at least one thing is clear that physical proximity of branch is the most important facility for the customers. When, I interviewed the respondents, they said that they would like to invest in a branch that is very nearer to their society, because this makes the banking task very easy. If a branch is distant, the banking task becomes hectic. So, before investing in a bank, they decide that which branch is nearer to

the society. Obviously, from my point of view also physical proximity of the branch is the most important factor that attracts the customers most. Serious thinking on this matter is very much required. Obviously, this would cause the sale of the product superfluous. Liquidity is the second area of thrust. They have to withdraw the money time to time. So, they have given it much importance. Under the quantum optima facility, the facility of fixed deposit (FD) is being provided by the ICICI Bank. Also, besides that liquidity remains prevalent. This has given lots of strength to the product. Means they can withdraw the money any time but in a certain limit so that FD could not break. Besides these two, rate of interest is the next factor that should be always competitive in the market, because the main aim of the society is to multiply their funds. The respondents gave the next rank to ease in operations, because delays in operations such as deposits/withdrawals irritates the customers. They have given 5th rank to the monthly account statement. Means they actually need this on monthly intervals. These five facilities are more important for them. Now, it is our task to think that what we lack more in these five facilities. I was selling SSA and simultaneously doing the project. I found that management committee executive members were used to say that our branch is not near to them so they are unable to invest in our bank. Also, I realized that our Mayur Vihar branch is far away from these housing societies, while branches of other nationalized banks are very near to them. This thing is the biggest hurdle for the sale of SSA.

8. Sources of income of the societies Collected data is:

Maintenance Charges Sale of parking space Kabari sales Development charges from tenants 95% contribution ----

Analysis: Maintenance charges are the biggest contributor to the income of the societies, because they receive it regularly. 9. Where they invest and how much Collected data is:
SSA FD 70% 30%

Analysis: They invest more funds in SSA. So, giving them FDs interest on savings account is quite good idea.
10. Causes of and factors for delay in opening up SSA

Collected data is: The delays often take place for making consensus among the managing committee executive members, especially in the matters related to finance. Lengthy formalities of paper work. Analysis: This is not the headache of the bank, so in these matters bank cannot do anything.

CONCLUSION
ICICI Bank is market leader among private banks and has reached to this position just after 2 or 3 years of merger between ICICI Ltd & ICICI Bank. Now, its roaring strategy is increasing its market share very rapidly. But, still its market share is just 3%. So, there is lots of potential left in the market and lots of things are still left to be done. In this sequence, I have concentrated my focus on special savings account, an ICICI Banks product, which needs some attention of the bank to revitalize the facilities provided by them on this product, so that the product could get more popularity among future customers. By this study, I have found that there is lack of branches of ICICI Bank at very high potential market places, where other banks are grabbing the business very comfortably. This factor has made the product weak in the market.

RECOMMENDATIONS
We all know that for operating Special Savings Account, society people have to go to ICICI branches. It cannot be operated by ATMs. By this study, it is clear that physical closeness of the branch has been given the first priority by the respondents. For fulfilling this need, ICICI Bank will have to open new branches, but this will lead to heavy expenses. Also, ICICI Bank wants to do business on minimum cost and with the help of minimum human resources. Thinking in this way, ICICI Bank can take following steps: 1. One or two permanent employees can be deployed at important ATM centers. The employees can be deployed on daily basis or 2 or 3 days a week. The important working hour should be 5:00PM to 8:00PM. So, it can be done that one or two employees daily or 3 days a week for 3 hours in the evening can be deployed at important ATM centers. It would not require unnecessary costs. Besides, it would enhance the business of the bank. In this way, ICICI Bank can grab lots of society accounts. For example: - There is one ATM center near Balco Apartments, I.P.Extention, Patparganj, Delhi. That ATM center is in the center of maximum number of apartments. So, at least one employee can be deployed there at least for 3 hours. Other Important ATM centers are: ATM center in Vasundhara Enclave, Mayur Vihar, Delhi. ATM center near Samachar Apartments, Mayur Vihar, Delhi. ATM center in Mayur Vihar, Phase-II, Delhi. ATM center in Mayur Vihar, Phase-III, Delhi.

2. Deployment of multi-card access ATMs at above mentioned

centers. It means that president, Secretary & treasurer will insert special ATM cards at a time to withdraw the money.
3. Mobile Banking services could be provided. It means that mobile

van should be deployed on those spots on routine basis with one or two employees in the van.
4. Mobile Delivery staff could be employed for collection and

payment of cheques and he would be doing the job by using twowheeler and customers will use phones to avail this service.

BIBLIOGRAPHY
1. www.icici.com 2. www.infoplease.com

3. Brochures & booklets of ICICI Bank 4. Marketing Management by Philip Kotler Published by Pearson Education (Singapore) Pte. Ltd. 5. Research Methodology: Methods & Techniques by C.R.Kothari 6. The Marketing of Services by Donald Covell Published by Heinamall, London 7. Marketing Research by G.C.Bery Published by Tata McGraw-Hill Publishing Company Limited, New Delhi.

QUESTIONNAIRE
1. ICICI Bank is providing TWO IN ONE OR QUANTUM OPTIMA facility. Do you think it is useful for you?
VERY USEFUL USEFUL AVERAGE NOT USEFUL

2. How frequently would you need account statement?

WEEKLY MONTHLY QUARTERLY

3. Internet banking is how much useful for you?

VERY USEFUL USEFUL AVERAGE NOT USEFUL

4. Phone banking is how much useful for you?

VERY USEFUL USEFUL AVERAGE NOT USEFUL

5. Is outstation donation collection facility is useful for you?

YES NO

6. ICICI Bank is providing payroll processing for employees facility. How much useful is it for you?
VERY USEFUL USEFUL AVERAGE NOT USEFUL

7. Rank the facilities provided by us according your perception:

S. No. 1. 2. 3. 4. 5. 6. 7. 8. 9. FACILITIES Lock-in period in bonds Multi-city cheque book Minimum balance clause Liquidity Door-step banking services Rate of interest Monthly account statement Physical proximity of the branch Ease in operations RANKING ACCORDING TO YOUR PERCEPTION

8. What are the sources of income of the society?

9. Where do you invest and how much?

10.There is too much time taken by the societies straight from the introduction of Special Savings Account to actually opening the Special Savings Account. Which factor do you think is the biggest hurdle?