Professional Documents
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ICICI BANK
A project report
well as our head of department who gave me the golden opportunity to do this
wonderful project on exploring about a commercial bank which also helped me in doing
a lot of research and we came to know about so many new things, I am really thankful
to them.
Secondly we would also like to thank our parents and friends who helped us a lot in
We are making this project not only for attendances but to also increase my knowledge.
I. History
V.
History
1 A BRIEF HISTORY OF ICICI BANK
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 October 2001, the Boards of Directors of ICICI and ICICI Bank approved the
merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI
Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI
Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January
2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High
Court of Judicature at Mumbai and the Reserve Bank of India in April 2002.
Consequent to the merger, the ICICI group's financing and banking operations,
both wholesale and retail, have been integrated in a single entity.
2 PRESENT NETWORK AND STATUS
The Bank has a network of 3,845 branches and 12,012 ATMs in India, and has a
presence in 19 countries.
ICICI Bank is one of the Big Four banks of India, along with State Bank of India,
Punjab National Bank and Bank of Baroda. The bank has subsidiaries in the United
Kingdom, Russia, and Canada; branches in United States, Singapore, Bahrain,
Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre; and
representative offices in United Arab Emirates, China, South Africa, Bangladesh,
Thailand, Malaysia and Indonesia. The company's UK subsidiary has also
established branches in Belgium and Germany.
Subsidiaries
I. Domestic
• ICICI Prudential Life Insurance Company Limited
• ICICI Lombard General Insurance Company Limited
• ICICI Prudential Asset Management Company Limited
• ICICI Prudential Trust Limited
• ICICI Securities Limited
• ICICI Securities Primary Dealership Limited
• ICICI Venture Funds Management Company Limited
• ICICI Home Finance Company Limited
• ICICI Investment Management Company Limited
• ICICI Trusteeship Services Limited
• ICICI Prudential Pension Funds Management Company Limited
II. International
• ICICI Bank UK PLC
• ICICI Bank Canada
• ICICI Bank Eurasia Limited Liability Company
• ICICI Securities Holdings Inc.
• ICICI Securities Inc.
• ICICI International Limited
Acquisitions
• 1996: SCICI Ltd. A diversified financial institution with headquarters in
Mumbai
• 1997: ITC Classic Finance. Incorporated in 1986, ITC Classic was a non-bank
financial firm that engaged in hire, purchase, and leasing operations. At the time
of being acquired, ITC Classic had eight offices, 26 outlets, and 700 brokers.
• 1998: Anagram Finance. Anagram had built up a network of some 50
branches in Gujarat, Rajasthan, and Maharashtra that were primarily engaged in
retail financing of cars and trucks. It also had some 250,000 depositors.
• 2001: Bank of Madurai
• 2002: The Darjeeling and Shimla branches of Grind lays Bank
• 2005: Investitsionno-Kreditny Bank (IKB), a Russian bank
• 2007: Sangli Bank. Sangli Bank was a private sector unlisted bank, founded
in 1916, and 30% owned by the Bahte family. Its headquarters were in Sangli in
Maharashtra, and it had 198 branches. It had 158 in Maharashtra and 31 in
Karnataka, and others in Gujarat, Andhra Pradesh, Tamil Nadu, Goa, and Delhi. Its
branches were relatively evenly split between metropolitan areas and rural or
semi-urban areas.
• 2010: The Bank of Rajasthan (BOR) was acquired by the ICICI Bank in 2010
for 30 billion. RBI was critical of BOR's promoters not reducing their holdings in
the company. BOR has since been merged with ICICI Bank..
3 ORGANIZATION STRUCTURE
Bindu Mittal
BM / CBM
Kapil
Malhotra
DBM [Deputy]
Abhishek Shrey
Ranjan Gughnani
Value Banker Privilage Banker
Reema
Talwar
Senior Officer
Rahul
Junior Officer
MM2
MM1
DM2
DM1
AM
Assistant Managre
SO
Senior Officer
JO
Junior Officer
Retail
Banking
Small Corporate
Enterprises Banking
International Rural
Banking Banking
I. Retail Banking
The branch network serves as an integrated channel for deposit
mobilization, selected retail asset origination and distribution of third-party
products, as well as the focal point for customer service. During fiscal 2011,
the Bank continued its focus on increasing the proportion of low-cost retail
deposits in its funding base. During fiscal 2011, its retail disbursements
increased as it focused on opportunities in residential mortgages, vehicle
finance and construction equipment finance. The Company also continued
to focus on cross-selling new products and products of its life and general
insurance subsidiaries to its existing customers. As of March 31, 2013, its
ATMs offer services such as opening fixed deposits, payment of credit card
and utility bills, payment of insurance premium, mobile re-charges and
ultra-fast cash.
I. Savings Account
That pay interest but cannot be used directly as money in the narrow sense of a
medium of exchange (for example, by writing a cheque).
“You can apply for ICICI Bank Savings Account through any of the below channels:
I. Apply for Savings account online
II. Invite our Tab Banking officer to open your account
III. Call on our toll free number 1800 200 3045
IV. Send an SMS 'TAB' to 5676766
V. Place request through our website
VI. Visit nearest ICICI Bank Branch
Savings Account is available for Resident Individual (sole or joint account), foreign
national and Hindu undivided family (HUF) customers, who are above 18 years.
Customers below 18 years, can open a Young Stars / Smart Star Savings Account
and above 60 years can open a Life plus Senior Savings Account.”
2. Deposits
I. FD fixed deposit
Higher rate of interest than a regular savings account, until the given maturity
date.
II. Tax Saving FD
Get a tax exemption on your savings under Section 80C of Income Tax Act, 1961.
III. Money multiplier FD
Gives you the liquidity of a Savings Account coupled with high earnings of a Fixed
Deposit. This is achieved by creating a Fixed Deposit linked to your Savings
Account providing you the following unique facilities.
IV. Security Deposits
A monetary deposit given to a lender, seller or landlord as proof of intent
V. Advantage Deposits
Combination of fixed deposit and mutual fund investment, offering you the safety
of a fixed deposit and the returns of an equity fund. Advantage Deposit counters
equity-market fluctuations through Systematic Investment Plans.
VI. RD Recurring Deposits
Help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit
account and earn interest at the rate applicable to Fixed Deposits
I. Home loans
II. Car Loans
III. Personal Loans
IV. Gold Loans
V. Loan against securities
VI. Commercial vehicle loan
VII. Other loans
VIII. Insurance
IX. Life insurance
X. General Insurance
XI. Card protection plan
4. Cards
I. Credit cards
Allows users to borrow money for payment to a merchant or as a cash advance to
the user.
II. Debit cards
Plastic payment card that provides the cardholder electronic access to their bank
account(s) at a financial institution.
III. Prepaid cards
IV. Travel cards
V. Unifare metro cards
VI. Corporate cards
VII. Merchant services
5. Investments
a. Fixed Deposits
b. ICICI BANK FD
c. ICICI HFC FD
d. Senior citizen savings scheme
e. Public provident fund
a. Mutual fund
b. Gold/Silver
c. IPO through ASBA (Applications Supported by Blocked Amount)
a. FD/RD
b. iWish flexible RD
c. Mutual fund
d. Gold Silver
e. PPF
5 OTHER PRODUCTS
I. Agri & Rural
a. Instant gold loans
b. Farmer finance
c. Agri traders and processors
d. Agri corporates
e. Tractor loan
f. Micro banking
a. Term plans
b. Wealth plans
c. Retirement plans
d. Group plans rural plans
a. Equity funds
Equity schemes endeavor to provide potential for high growth and returns with
a moderate to high risk by investing in shares.
b. Balanced/Hybrid funds
Hybrid Schemes or balanced schemes bridge the gap between equity and debt
schemes. This category is characterized by a portfolio that is made up of a mix
of equity stocks and bonds and will suit investors looking for debt plus returns
with higher levels of risk than fixed income schemes.
c. Debt funds
Debt Funds primarily invests in bonds and other debt instruments, and will suit
investors who want to optimize current income assuming low to moderate
levels of risk.
d. Fund of funds
A Fund of Funds is a mutual fund scheme that invests in other mutual funds, and
is designed to suit the varying needs of different investor categories based on
their risk profiles, return expectations and investment goals. It provides
investors an opportunity to take advantage of the benefits of diversification by
investing in a variety of fund categories.
e. Exchange traded funds
Exchange Traded Funds (ETFs) are instruments that track an index, a commodity
or a basket of assets as closely as possible, but trade like shares on an exchange.
They are backed by physical holdings of the commodity, and invest in stocks of
companies, precious metals or currencies. ETFs give you the flexibility to buy
and sell units throughout the day, on an exchange.