Term Paper

RETAIL BANKING
(WITH SPECIAL REFERENCE TO ICICI BANK)
Course: - Banking & Insurance
Course Code: - MGT 623
Submitted By:-
Varun Puri
RR 1805 A 19
10800464
Submitted to: -
Avinash Kaur
Department of Management
Lovely Professional University
CONTENTS
1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
...............1
1.1 GENERAL
..........................................................................
............................................1
1.2 AN OVERVIEW OF BANKING INDUSTRY
..........................................................................
...........1
1.3 NEW GENERATION BANKING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.........................................3
1.4 RETAIL BANKING
..........................................................................
....................................4
2 REVIEW OF
LITERATURE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3 NEED & OBJECTIVE OF
STUDY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
3.1 NEED:- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
......................................................7
3.2 OBJECTIVES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
....................................................7
4 COMPANY PROFILE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.............7
4.1 A BRIEF INTRODUCTION OF ICICI BANK LIMITED . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
..............................7
4.2 SWOT
ANALYSIS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
5 RETAIL BANKING
PRODUCTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
5.1 ADVANCES &
DEPOSITS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . 11
5.1.1 Key Features on Operation of Different Types of Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
5.1.2 Minor’s Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . 14
5.1.3 Account of Illiterate/Blind
Person . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.1.4 Addition or Deletion of the Name’s of Joint Account Holders . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.1.5 Directives on Interest Payments & term Deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.1.6 Deceased Account Handling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . 15
5.1.7 Facilitation of Other Banking
Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
5.1.8 Safeguarding Customer Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . 16
5.2 LOANS AVAILABLE AT ICICI
BANK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . 17
5.2.1 Home
Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . 17
5.2.2 Personal Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . 18
5.2.3 Car Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . 18
5.2.4 Loan against Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . 19
5.2.5 Loan against
Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20
5.2.6 Farmer Finance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
5.2.7 Rural Education Loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . 20
5.3 NON-DEPOSITORY SERVICES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
5.3.1 Consumer Cards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . 20
5.3.2 Commercial
Cards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . 21
5.3.3 Mobile Banking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . 23
5.3.4 Phone
Banking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . 23
5.4 DEMAT &
INVESTMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . 24
5.4.1 Demat Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . 24
5.5 INVESTMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
5.5.1 ICICI Bank Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . 25
5.5.2 Mutual
Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . 25
5.5.3
IPO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . 27
5.5.4 ICICI Bank Pure
Gold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27
5.6 SENIOR CITIZEN’S SAVINGS SCHEME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
6
CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . 28

1 INTRODUCTION
ICICI Bank is a private sector bank engaged in retail banking, insurance etc. ICICI Bank,
Exhibition Road branch is a newly founded branch that deals in retail banking. Retail banking
refers to the banking, which provides all the financial products and services to its customers.
The banking industry in India has undergone a sea of change ever since the economic form
process was initiated. There is no doubt that the banking industry continues to play a cardinal
role in spread heading the economic activity of the country. From an industry almost
monopolized by the nationalized bank till the 90’s it has now emerged as a conglomerate of
nationalized, private and foreign banks setting new trends in the way banking is carried out.
The deregulation in the interest rates, grant of functional autonomy to the banks in the area of
credit, entry of foreign banks and emergence of new private banks has made the banking
environment. The whole Indian banking industry scenario is changing while the chunk of
other total share in bank credit continues to be dominated by public sector banks, the increase
boost given to foreign and private participation is expected to make banking more
challenging.
Lately, Indian banks are diverting from their bread and butter business of lending and
accepting deposits, and are resorting to other related activities. Any private or foreign banks
is found to have spread its wings across a variety of business starting from housing finance,
credit finance, credit cards, investment banking, internet banking etc. with a lot of thrust on
retail and consumer loans to lending to small and medium enterprises an agriculture. To
sustain the market share and maintain the profitability, banks including the nationalized ones
are trying to incorporate product diversity and with more focus on customer needs.
Most of the private banks are moving towards the ‘Universal Banking’. Universal Banking
means the banking in which the banks have all the financial products and services for its
customers.
Now there is a need to observe how these private banks are going to apply the concept for
customer satisfaction and for the growth of business in emerging area of finance. The
information collected were compared with ideal one to find out major drawbacks and best
practices too.The Indian Banking history can be broadly categorized into nationalized private
banks and specialized banking institutions. The Reserve Bank of India acts as a centralized
monitoring any discrepancies and shortcoming in the system. Since the nationalization of
banks in 1969, the nationalized banks have acquired a place of prominence and has since then
seen tremendous progress. The need to become highly customer focused has forced the slow
moving public sector banks to adopt a fast track approach.
The liberalized policy of Government of India permitted entry to private sector banks in the
banking industry. The major differentiating parameter that distinguishes these banks is the
level of service that is offered to the customer. These banks have generally been established
by promoters of reputed or high value domestic financial institutions. The popularity of these
banks can be gauged by the fact that in a short span of time, these banks have gained
considerable customer confidence and consequently have shown impressive growth rates.
Today, the private banks corner almost 4% share of the total share of deposit. With efficiency
being the major focus, these banks have leveraged on their strength and competencies viz.
management, operation efficiency and flexibility, superior product positioning a higher
employee productivity skill.
The private banks with their focused business and services portfolio have a reputation of
being niche player in the industry. A well chalked out integrated strategy has allowed these
banks to operate 70% of their business to urban areas, this statutory requirement has
translated into lower deposit mobilization costs and higher margins to public sector banks.
Banks are increasingly finding that most viable way of differentiating themselves will be to
successfully manage customer relationship and enhance the overall customer experience. In
future the market space will see banks and non-banks striving to seek opportunities to profit,
in the wake of product customization.
1.3 New Generation Banking
The Indian banking saw dramatic changes in the last decade and so ever since the advent of
liberalization and India’s integration with the worked economy. These economic reforms and
the entry of private players saw nationalized banks revamp their service and product portfolio
to incorporate new, innovative, customer-centric schemes. The Indian banking finally woke
up to the surging demands of the ever-discerning Indian consumer. The need to become
highly customers focused (generated by high competitive levels) forced the slow-moving
public sector banks to adopt a fast track approach. These customer friendly programs
included revamping of the product and service schemes like credit cards, hassle-free housing
loan schemes, educational loans and flexi-deposit scheme integration of the branch net work
by using advance networking technology and customers personalization programs (through
ATM’s and any time banking etc.). Many banks have started capitalizing on the recent stock
market surge by adding (Initial Public Offering) IPO financing offering option and schemes
in their product mix. IPO finance has received a positive response from the investor and is
becoming popular amongst the business community. The objective of all these strategies was
very clear to bridge the community. The objective of all these strategies was very clear to
bridge the service and product gap that was inherent in the banking system.
Marketing and branch building programs were also given a new thrust in the liberalized
banking scenario. Promotional budgets were hiked to cater to the new and large discerning
target audience. Banks were now keen on marketing their products and service through
various mediums to reach their core customers. Direct marketing, Internet marketing,
hoarding press ads, television sponsorships, image makeovers etc. become an integral part of
a bank’s marketing mix. To meet the personalized needs of the customer and in order to
differentiate its services, banks repositioned themselves in specialized fields, like housing
loans, car finance, educational loans etc. to optimally service the customer. Marketing
became the new strategy that banks began to propound. Feeding the customer (with his or her
consent) with product and service information and thereby enticing him towards the bank’s
product service portfolio. The lowering of the interest rate spread on housing loan over the
last few years has resulted in a substantial housing boom. The middle class has been the
biggest beneficiary of this development. Investment in housing is a form of saving. It is a
security for future generation. While housing loans in India are available at 7.5%, the
prevailing rates in the U.S. are in 3-4% range. The middle class would be the highest
beneficiary if the interest rate spread on housing loans were to fall further in line with global
norms. The housing sector would experience further expansion, there would be substantial
generation of employment, and GDP would receive a boost.
1.4 Retail Banking
Retail Banking Group has emerged as the fastest growing segment within ICICI Bank Ltd.
Within RBG, retail channel and liability group mobilize the much-needed resources at highly
competitive rates through deposits and bonds and retail assets and products group deploys the
available resources through various channels like Home Loans, Personnel Loans, Consumer
Durable Loans, Commercial Vehicles Loan etc. in the retail assets.
Across the world retail banking has been the high volume-low value business proposition.
Enormous amount of resources are required to acquire and service customer in terms of
infrastructure and operation.
Given the current stage of evolution of the Indian market, we have adopted an organization
model that continuous to focus on product and on achieving attention and dedicated services,
and at the same facilitate the widening and deepening of customer relationships.
Small enterprises and emerging corporate segment has strong synergies with the retail
business in terms of customer profile and servicing is done through technology platform and
retail branches.

2 Review of Literature
RNCOS’ “Indian Retail Banking Sector Analysis (2006)1”, report provides extensive research
and objective analysis on the growing retail banking industry, its product quality, and
services in India. This report helps readers to analyze the leading-edge opportunities critical
to the success of the retail banking Industry in India. Key findings were, Marketing issues
may be the key focus for the Global players entering in Indian market because of the nature
of Indian retail banking market requires new entrant to have to devise marketing programs to
establish and enhance brand awareness, which in turn will help the new entrant to show its
presence and help to create a niche for them, India’s retail-banking assets size is expected to
1RNCOS’ “Indian Retail Banking Sector Analysis (2006), Published at
http://www.rncos.com/Report/IM037_fig.htm
grow at the rate of 18% a year over the next four years (2006-2010). - Retail loan to drive the
growth of retail banking in future, Housing loan accounts for a major chunk of retail loan.
Jham, Vimi, Khan, Kaleem Mohd (2008)2 The key findings of their empirical research are
based on the data collected from 555 customers. The study reinforces that customer
satisfaction is linked with performance of the banks. The authors demonstrate how adaptation
of satisfaction variables can lead to better performance. The study aimed to establish that
customer satisfaction results in building better relationships with customers through better
services. The current research contributes towards understanding the relationship between
satisfaction and performance.
Joydeep Sengupta, & Renny Thomas. (2005), Retail-banking customers in India, like their
counterparts throughout Asia, are very loyal to their domestic banks and quite hesitant to
incur debt. This was a survey on the attitudes of India customers toward personal financial
services reinforces these assessments. But the study also found, beneath this veneer,
significant differences among customer segments. These differences could present foreign
entrants with opportunities in this growing market. As part of a broader Asian effort, we
surveyed more than 300 urban banking customers in India with annual household incomes
greater than $1,150. A significant majority - 69% - said that they would stay with their
current bank, even if competitors offered lower fees and lower interest rates on credit. This
professed loyalty may be linked, at least in part, to a lack of alternatives.
Wan et al., (2005)3 have studied the customers’ adoption of banking channels in Hong Kong.
It covers four major banking channels namely ATM, Branch Banking, Telephone Banking
and Internet Banking. It segments customers based on demographic variables and
psychological beliefs about the positive attributes processed by the channels. The
2 Jham, Vimi, Khan, Kaleem Mohd (2008), “Determinants of Performance in Retail Banking: Perspectives of
Customer Satisfaction and Relationship Marketing”, Singapore Management Review. Accessed from:-
http://findarticles.com/p/articles/mi_qa5321/is_200807/ai_n27901656/pg_3/?tag=content;col1
3 Wan, W.W.N., Luk, C.L. and Chow, C.W.C. (2005) ‘Customers’ adoption of banking channels in Hong
Kong’, The International Journal of Bank Marketing, 23:2/3, 255-272.
psychological factors are ease of use, transaction security, transaction accuracy, speediness,
convenience, time utility, provision of different personal services, social desirability,
usefulness, economic benefits and user involvement.
Uppal, R. (2009)., 4In the present paper, an attempt has been made to analyze the trends and
growth in the retail portfolio of various bank groups. The variations have been calculated for
the year 2008 over 2007. The study finds that among the retail loans, housing loans and auto
loans occupy prominent places. On the basis of certain parameters like cash-deposit ratio,
deposit pattern of scheduled commercial banks, banks' group-wise lending to sensitive
sectors, lending to sensitive sectors by Scheduled Commercial Banks (SCBs), sectoral
deployment of gross bank credit, and retail portfolio of banks, the paper prepares some
strategies to enhance retail banking in India. Some such vital strategies are advanced
technology to capture remote area customers, skilled manpower, market research in
intelligent ways, credit quality techniques, universal banking, and human factors delivering
banking services to the customers.
Mishra, A.. (2009)5This research postulates on the present levels of satisfaction, and also
tries to explore the factors that lead to customer satisfaction in retail banking in India. Data
from 100 survey respondents were collected from one branch of one of the prominent retail
banks in the city of Hyderabad. The findings revealed that customer satisfaction, a
transaction-specific attribute is dependent on seven factors, which concur with extensive
academic literature

3 Need & Objective of Study

4 Uppal, R.. (2009). Business Retail Banking Strategies in the Liberalized and Globalized Era. IUP Journal of
Business Strategy, 6(3/4), 95-106. Retrieved May 4, 2010, from ABI/INFORM Global.
5 Mishra, A.. (2009). A Study on Customer Satisfaction in Indian Retail Banking. IUP Journal of Management
Research, 8(11), 45-61. Retrieved May 4, 2010,
3.1 Need:-
The banking industry like many other financial services industries is facing a rapidly
changing market, new technologies, economic uncertainties, fierce competition, and more
demanding customers; and the changing climate has presented an unprecedented set of
challenges.
There have been recent indications from the finance minister of India that Indian banks
should go in for mergers in order to have a less number of larger and more efficient banks.
For the retail banking scenario, it is also implicit that many banks are competing for the same
customer segment and the combined resources being spent in terms of marketing and other
efforts may exceed the profitability of the segment targeted at, by the banks put together. It
has been observed that the challenges being faced by retail banking sectors have been in the
usage of proper segmentation techniques based on customer psychographics
3.2 Objectives
Observation of products related to day-to-day operation of ICICI Bank Limited.

4 COMPANY PROFILE
4.1 A Brief Introduction of ICICI Bank Limited
ICICI Bank is India's second-largest bank. The Bank has a network of about 573 branches
and extension counters and over 2,000 ATMs. ICICI Bank was originally promoted in 1994
by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary.
ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and
representatives of Indian industry. The objective was to create a development financial
institution for providing medium-term and long-term project financing to Indian businesses.
In the 1990s, ICICI transformed its business from a development financial institution offering
only project finance to a diversified financial services group offering a wide variety of
products and services, both directly and through a number of subsidiaries and affiliates like
ICICI Bank.
In 1999, ICICI become the first Indian company and the first bank or financial institution
from non-Japan Asia to be listed on the NYSE. In 2001, ICICI bank acquired Bank of
Madura1 Limited.
ICICI Bank set up its international banking group in fiscal 2002 to cater to the cross border
needs of clients and leverage on its domestic banking strengths to offer products
internationally. ICICI Bank currently has subsidiaries in the United Kingdom, Canada and
Russia, branches in Singapore and Bahrain and representative offices in the United States,
China, United Arab Emirates, Bangladesh and South Africa.
In 2003, the first Integrated Currency Management Centre launched in Pune. ICICI Bank
announced the setting up of its first ever offshore branch in Singapore. The first offshore
banking unit (OBU) at Seepz Special Economic Zone, Mumbai, launched. ICICI Bank's
representative office inaugurated in Dubai. Representative office set up in China.ICICI
Bank's UK subsidiary launched. India's first ever "Visa Mini Credit Card", a 43% smaller
credit card in dimensions launched. ICICI Bank subsidiary set up in Canada. Temasek
Holdings acquired 5.2% stake in ICICI Bank. ICICI Bank became the market leader in retail
credit in India.
In 2004, Max Money, a home loan product that offers the dual benefit of higher eligibility
and affordability to a customer, introduced. Mobile banking service in India launched in
association with Reliance Infocomm. India's first multi-branded credit card with HPCL and
Airtel launched. Kisaan Loan Card and innovative, low-cost ATMs in rural India launched.
CICI Bank and CNBC TV 18 announced India's first ever awards recognizing the
achievements of SMEs, a pioneering initiative to encourage the contribution of Small and
Medium Enterprises to the growth of Indian economy.
In 2005, ICICI Bank opened its 500th branch in India. ICICI Bank introduced partnership
model wherein ICICI Bank would forge an alliance with existing micro finance institutions
(MFIs). The MFI would undertake the promotional role of identifying, training and
promoting the micro-finance clients and ICICI Bank would finance the clients directly on the
recommendation of the MFI. ICICI Bank introduced 8-8 banking wherein all the branches of
the Bank would remain open from 8a.m. to 8 p.m. from Monday to Saturday. ICICI Bank
introduced the concept of floating rate for home loans in India. First rural branch and ATM
launched in Uttar Pradesh at Delpandarwa, Hardoi. "Free for Life" credit cards launched
wherein annual fees of all ICICI Bank Credit Cards were waived off. ICICI Bank and Visa
jointly launched mChq – a revolutionary credit card on the mobile phone. Private Banking
Masters 2005, a nationwide Golf tournament for high net worth clients of the private banking
division launched. This event is the largest domestic invitation amateur golf event conducted
in India. First Indian company to make a simultaneous equity offering of $1.8 billion in India,
the United States and Japan. Acquired IvestitsionnoKreditny Bank of Russia. ICICI Bank
became the largest bank in India in terms of its market capitalization.
In 2006 ,ICICI Bank became the first private entity in India to offer a discount to retail
investors for its follow-up offer. ICICI Bank became the first Indian bank to issue hybrid
Tier-1 perpetual debt in the international markets. ICICI Bank subsidiary set up in Russia.
In 2007, introduced a new product - 'NRI smart save Deposits' – a unique fixed deposit
scheme for non resident Indians. Representative offices opened in Thailand, Indonesia and
Malaysia. ICICI Bank became the largest retail player in the market to introduce a biometric
enabled smart card that allows banking transactions to be conducted on the field. A low-cost
solution, this became an effective delivery option for ICICI Bank's micro finance institution
partners. Financial counseling centre Disha launched. Disha provides free credit counseling,
financial planning and debt management services. Bhoomi puja conducted for a regional hub
in Hyderabad, Andhra Pradesh. ICICI Bank's USD 2 billion 3-tranche international bond
offering was the largest bond offering by an Indian bank. Sangli Bank amalgamated with
ICICI Bank. ICICI Bank raised Rs 20,000 crore (approx $5 billion) from both domestic and
international markets through a follow-on public offer. ICICI Bank's GBP 350 million
international bond offering marked the inaugural deal in the sterling market from an Indian
issuer and also the largest deal in the sterling market from Asia. Launched India's first ever
jewellery card in association with jewelry major Gitanjali Group. It became the first bank in
India to launch a premium credit card -- The Visa Signature Credit Card. Foundation stone
laid for a regional hub in Gandhinagar, Gujarat. Introduced SME Toolkit, an online resource
centre, to help small and medium enterprises start, finance and grow their business. ICICI
Bank signed a multi-tranche dual currency US$ 1.5 billion syndication loan agreement in
Singapore. ICICI Bank became the first private bank in India to offer both floating and fixed
rate on car loans, commercial vehicles loans, construction equipment loans and professional
equipment loans. In a first of its kind, nationwide initiative to attract bright graduate students
to pursue a career in banking, ICICI Bank launched the "Probationary Officer Programme".
Launched Bank@home services for all savings and current a/c customers residing in India
ICICI Bank Eurasia LLC inaugurated its first branch at St Petersburg, Russia.
In 2008, ICICI Bank enters US, launches its first branch in New York. ICICI Bank enters
Germany, opens its first branch in Frankfurt. ICICI Bank launched iMobile, a breakthrough
innovation in banking where practically all internet banking transactions can now be simply
done on mobile phones. ICICI Bank concluded India's largest ever securitization transaction
of a pool of retail loan assets aggregating to Rs. 48.96 billion (equivalent of USD 1.21
billion) in a multi-tranche issue backed by four different asset categories. It is also the largest
deal in Asia (ex-Japan) in 2008 till date and the second largest deal in Asia (ex-Japan &
Australia) since the beginning of 2007.
Today, ICICI Bank offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and through its
specialized subsidiaries and affiliates in the areas of investment banking, life and non-life
insurance, venture capital and asset management.
4.2 SWOT ANALYSIS
Strengths
 ICICI’s distribution network is a major strength of the company. It has physical
presence across 42 cities. It also has a strong network of marketing agents, ATM’s
and call centers.
 ICICI offers a wide range of products and services to its corporate and retail
customers. This has increased its market share and enabled it to move a step ahead to
achieve its vision of being a Universal Bank.
Weaknesses
 The company has a large amount of non-performing loans.
Opportunities
 The signs of Indian economy reviving have created a lot of opportunities for the
company. The industrial production has gone up by 8% and this is expected to favor
the company.
 The revival in the economy will reduce the NPA’s and could result in growth of
credit.
Threats
 Increased competition from foreign banks, which have begun to foray into financial
services segment, will pose a threat to the company’s market share and hence it’s
bottom-line

5 Retail Banking Products

5.1 ADVANCES & DEPOSITS
One of the important functions of the bank is to accept deposits from the public for the
purpose of lending. In fact, depositors are the major stakeholders of the banking system. The
depositors and their interests from the key area of the regulatory framework for banking in
India and this have been enshrined in the Banking Regulation Act, 1949. The Reserve Bank
of India is empowered to issue directives/advices on interest rates on deposits and other
aspects regarding conduct of deposit accounts from time to time. With liberalization in the
financial system and deregulation interest rates, banks are now free to formulate deposit
products within the broad guidelines issued by RBI.
This policy document on deposits outlines the guiding principles in respect of formulation of
various deposit products offered by the bank and terms and conditions of governing the
conduct of the account. The document recognizes the right of depositors and aims at
dissemination of information with regard to various aspects of acceptance of deposits from
the members of the public, conduct and operations of various deposits accounts, method of
disposal of individual customers and creates awareness among customer of their right.
While adopting this policy, the bank reiterates its commitments to individual customers
outlined in Bankers’ Fair Practice Code of Indian Banks’ Association. This document is a
board framework under which the rights of common depositors are recognized. Detailed
operational instructions on various depositors are recognized. Detailed operational
instructions on various deposits schemes and related services will be issued from time to
time.
Types of Deposit Accounts
The deposit products can be broadly categorized in the following types:-
 “Saving Deposits” means a form of deposit which is subject to restriction as to the
number of withdrawals permitted by the bank during a specified period.
 “Term Deposits” means a form of deposit received by the bank for a fixed period
withdrawal only after the expiry of the fixed period and includes deposits such as
Recurring/Fixed deposits etc.
 “Current Account” means a form of demand deposit where withdrawals are allowed
any number of times depending upon the balance in the account or up to a particular
agreed amount and will also include other deposit accounts which are neither Saving nor
Term deposit.
5.1.1 Key Features on Operation of Different Types of Accounts
 The bank before opening any deposit account will carry out due intelligence as required
under “know your customer” guidelines given by RBI and or such other norms or
procedures adopted by the bank.
 The account opening forms and other materials would be provided to the prospective
depositor by the bank. The same will contain details of information to be furnished and
documents to be produced for verification and records.
 For deposit products like saving account and current account, the bank will stipulate
certain minimum balances to be maintained as part of terms and conditions of such
accounts.
 Saving bank account can be opened for eligible person, persons, organizations,
agencies.
 Current account can be opened by individual, partnership firm, private and public
limited companies etc.
 Term deposit account can be opened by individuals, partnership firms, trusts, HUF’s
etc.
 The due diligence process, while opening a deposit account will involve satisfying
about the identity of the person, verification of address, satisfying about his occupation
and source of income. Obtaining introduction of the prospective depositor from a
person acceptable to the bank and obtaining recent photographs of the account opener.
 Under KYC norms the bank is required by the law to obtain PAN or GIR number.
 Deposits account can be opened by an individual in his own name or by more than one
individual in their own names. Minors can also open account jointly with natural
guardian.
 Operation of Joint Account: The joint account opened by more than one person can
be operated by single individual or more than one individual jointly. The mandate can
be modified with the consent of all account holders.
 The joint account holders can give any of the followings mandates for the disposal of
balance in the above account:-
a) Either or Survivors: If the account is held by two individual say A&B the final
balance along with the interest, if applicable, will be paid to survivor on the death of
anyone of the account holders.
b) Anyone or Survivors: If the account is held by more than two persons say A,B & C,
the final balance along with the interest, if applicable, will be paid to the survivor on
the death of any two account holders.
The above mandates will be applicable to or become operational during the tenure of the term
deposit on or after the date of maturity of term deposit. This mandate can be modified by
consent of all account holders.
 At the request of the depositor, the bank will register mandate power of attorney given
by the customer authorizing another person to operate the account on his behalf.
 The term deposit account holders at the time of placing their deposits can give
instructions with regard to closure of deposit or renewal of deposit for further period on
the date of maturity.
 Nomination facility is available on all accounts. It can be made in favor of one individual
only. It can be cancelled or changed by the account holder any time.
 Bank recommends that all account holder avail to the nomination facility. The nominee
in the event of death of the depositor will receive the outstanding balance in the account
as a trustee of legal heirs.
 A statement of account will be provided by the bank to savings bank as well as current
account holders periodically as per terms and conditions of opening an account.
 The deposit account may be transferred to any other branch of the bank at the request of
the depositor.
5.1.2 Minor’s Account
a) The minor can open savings bank account and it can be operated by natural guardian
or by minor himself/ herself if they are above the age of 10. The account can also be
opened jointly.
b) On attaining majority, the erstwhile minor should confirm the balance in his/her
account and if the guardian operated the account, fresh specimen signature of the
minor would be obtained and kept on record for operational purposes.
5.1.3 Account of Illiterate/Blind Person
The bank may at its discretion open deposit accounts other than current accounts of illiterate
person. The account of such person may be opened provided the/she calls the bank personally
along with a witness who is known both to the depositor ad the bank. At the time of
withdrawal, deposit etc, the account holder should affix his/her thumb impression or presence
of the authorized officer who should identify of the person. The bank will explain the need
for proper care and safe keeping of the person given to the account holder.
5.1.4 Addition or Deletion of the Name’s of Joint Account Holders
Accounts, which are not operated for a considerable period of time, will be transferred to a
separate dormant inoperative account status in the interest of the depositor as well as the
bank. The depositor will be informed about the charges, if any. The depositor may request to
activate the account.
5.1.5 Directives on Interest Payments & term Deposits
Interest Payments
 Interest shall be paid on savings account at the rate specified by RBI. The bank
decides the interest rate within the general guidelines of RBI.
 The rate of interests will be prominently displayed in the branch premises and on its
website.
 The bank has statutory obligation of deducting tax if the total amount payable exceeds
the amount specified by Income Tax Act. The bank will issue Tax Deduction
Certificate (TDS).
5.1.6 Deceased Account Handling
Settlement of Dues in Deceased Deposit Account
 If the depositor has registered nomination with the bank, the balance outstanding will be
transferred to the nominees account after verification about the identity of the nominee.
 The above procedure will be followed in even in joint account.
 In a joint account, when one joint account holder dies, the payment is made to the legal
heirs of the deceased person and surviving depositor jointly.
 In absence of nomination and where there are no disputes, the bank will pay the amount
to the account of deceased person against joint application and indemnity by all heirs or
the person mandated by legal heirs to receive the payment on their behalf without
insisting on the legal documents up to the limit approved by the bank.
Interest on Term Deposit in Deceased Account
 In event of death of depositor before the date of maturity the bank shall pay interest at the
contracted rate till the date of maturity.
 However, if the depositor dies after date of maturity, the bank shall pay interest at saving
deposit rate
5.1.7 Facilitation of Other Banking Services
Stop Payment Facility
The bank will accept stop payment by depositor in respect of cheques issued by them.
Charges as specified will be recovered.
Safe Deposit Lockers
It may be hired by individual or jointly. Nomination facility is available to the individuals
holding the lockers singly or jointly. In case of death of the holder the bank will release the
contents of the locker to the legal heirs if the nominations are not made.
5.1.8 Safeguarding Customer Interest
Customer Information
The bank shall not use the customer information. If the bank purposes to use such, it will be
strictly with the consent of account holders.
Secrecy of Customer Accounts
The bank shall not disclose details of the customer’s account to third party without the
consent of the holder.
Insurance Cover for Deposits
All deposits are covered under insurance scheme offered by Deposit Insurance & credit
Guarantee Corporation of India subject to certain conditions.
Redressal of Complaints & Grievances
Depositors having any complaint with regard to the services rendered, have a right to
approach authority designated by the bank for handling customer grievances.
5.2 LOANS AVAILABLE AT ICICI BANK
ICICI Bank offers wide variety of Loans Products to suit the requirements of the customer.
Coupled with convenience of networked branches/ ATMs and facility of E-channels like
Internet and Mobile Banking, ICICI Bank brings banking at doorstep. The customers can
select any of the loan products and provide their details online and the representative will
contact the customer for getting loans.
5.2.1 Home Loans
At ICICI Bank Home Loans, offer unbeatable benefits to ensure the customer get the best
deal without any hassles.
As one of the leading home loan provider, ICICI Bank understands how special building a
new home is and Home Loan help the customer lay the foundation for their dream home.
ICICI offers the most convenient home loan plans to suit the needs. With so many attractive
features in every type of home loan they offer, creating the home the customer always wanted
is no longer a distant dream. Some of the key benefits are:
Guidance throughout the process
Home loan amounts suited to your needs
Home Loan tenure up to 20 years
Simplified Documentation
Doorstep Service
Attractive interest rates
Sanction approval without having selected a property.
Free Personal Accident Insurance
Insurance options for your home loan at attractive premium
No matter what the requirement, they have an appropriate plan for everyone.
5.2.2 Personal Loans
Thinking of renovating your house? Yearning to buy a new Laptop? Need financial
assistance with marriage related expenses or your child higher education? An ICICI Bank
Personal Loan is your One-stop-shop for all your financial needs to fulfill any of your desires
With the "Loan on Phone" facility, it is possible to secure a loan even without having to visit
your bank branch. If you have been an ICICI Bank customer for the past 9 months, you might
have a pre-approved loan offer waiting for you.
Key Benefits of ICICI Bank Personal Loan
Loan up to Rs. 10 lakhs
No security/guarantor required
Faster processing.
Minimum documentation
Attractive rates of interest
Flexible repayment option of 12-48 months
ICICI Bank may, at its sole discretion, utilise the services of external service provider/s or
agent/s and on such terms as required or necessary, in relation to its products
5.2.3 Car Loans
Own that new car you have always desired, with a little help from us. ICICI offesr loans up to
100% of ‘on-road’ cost on select models, and up to 95% of the ex-showroom price on others.
Our interest rates would pleasantly surprise you. What’s more, you can take up to 6 years to
repay the loan.
The process for getting a loan involves only a few simple steps and we will tailor-make the
loan to suit your needs.
1. Loan on Phone for Customers: Are you an ICICI Bank customer? Go for a preapproved
car loan. Call our Customer Care numbers or sms “carloan ” to 567676.
2. Loan on the Strength of Your Income: Submit income proofs as required and avail of
finance up to 100% of the ‘on-road’ cost of the car!
3. Loan in the absence of Income Proof: We offer car loan for customers without income
proof on producing the bank statement, loan repayment track record, etc.
4. Car Loans with Fixed and Floating Interest Rates: ICICI Bank now offers new car
loans with both fixed and floating interest rate options. The customer can opt for fixed
interest rate or floating interest rate for taking a car loan from ICICI Bank according
to his/her discretion.
5.2.4 Loan against Securities
Loans against securities offer you instant liquidity. You don’t have to sell your securities. All
you have to do is pledge your securities in favor of ICICI Bank. We will then grant you an
overdraft facility up to a value determined on the basis of the securities pledged by you. A
current account will be opened and you can withdraw money as and when you require.
Interest will be charged only on the amount withdrawn and the time span utilized. This facility
is available against the following securities
Demat Shares.
Mutual Funds Units.
Fixed Maturity Plans (FMP).
Exchange Traded Funds (ETF).
Insurance Policies.
Bonds.
NSC/KVP
5.2.5 Loan against Property
Loan against Property is the perfect way to unlock the hidden value of your property. With
this loan, you can fully benefit from life’s little surprises you may have earlier passed over
due to lack of funds.
Live your dreams with a Loan Against Property! This multi-purpose loan puts funds at your
disposal to use as you wish. What’s more, this loan is available at a reasonable rate and can
be repaid comfortably over as many as 15 years. The ICICI Bank’s Loan against Property can
be used for any purpose.
5.2.6 Farmer Finance
Providing finance to the farmer for his various needs of inputs and consumption in the form
of crop loans, dairy loans and loans for allied activities to agriculture like irrigation etc. for
input needs and auto loans (two, three and four wheeler) and personal loans for consumption
needs. The customer can also avail of working capital term loan for setting up a poultry
project. Flexible repayment pattern and tenure to align to the cash flow of the customers
5.2.7 Rural Education Loan
ICICI Bank Rural Educational Institution Finance (REI) caters to the need of privately runs
Educational Institution based out of Rural, Semi Urban and Outside city limit locations. The
product is designed to cater to the specific needs of the education institutions. New products
and features in the existing product are introduced based on regular customer feedback
5.3 NON-DEPOSITORY SERVICES
5.3.1 Consumer Cards
 Credit Cards- Credit Cards give you a smart way to shop, and offer you flexibility and
convenience in managing your finances. ICICI Bank credit cards provide a host of
exciting offers and benefits such as low interest rates, rewards programs, and a high credit
and cash limit. We offer different types of credit card to suit the different needs and
requirements for added features.
 Travel Card- Presenting ICICI Bank Travel Card. The hassle free way to Travel the
world. Traveling with US Dollar, Euro, Pound Sterling or Swiss Francs; Looking for
security and convenience; take ICICI Bank Travel Card. Issued in duplicate. Offers the
Pin based security. Has the convenience of usage of Credit or Debit card.
 Debit Cards- The ICICI Bank Debit Card is a revolutionary form of cash that allows
customers to access their bank account around the clock, around the world. The ICICI
Bank Debit Card can be used for shopping at more than 3.5 Lakh merchants in India and
24 million merchants worldwide.
5.3.2 Commercial Cards
ICICI Bank Commercial Cards have been designed as payment solutions for large & midsized
organizations. A widely accepted concept internationally, Commercial Cards help to
better streamline payment processes & thus increase efficiencies.
 Corporate Cards- ICICI Bank Corporate Cards offer better management of employee's
travel and entertainment expenditure; control on employee spends and facilitates
cashless transactions for the employee and the corporate. A Powerful Payment Solution
for the Corporate. Travel and entertainment expenses constitute a significant part of a
corporate indirect operating expense. Our system facilitates the corporate to assign credit
limits, which helps control expenses of its employees. It provides the corporate with a
consolidated billing system. Instead of making payments to the individual employees,
the corporate has to make a single cheque payment to the supplier.
 Prepaid Cards- ICICI Bank brings to you a complete bouquet of prepaid cards
providing payment solutions at your fingertips. ICICI Bank prepaid cards are a safe &
convenient way for associate payments, disbursements, gifting & small ticket
transactions. Prepaid cards are available on a VISA platform thus providing accessibility
to over one lakh merchant establishments & cash withdrawal from all VISA ATMs in
India.
 Purchase Card- The ICICI Bank Purchase Card is a card based payment solution that
streamlines and effectively controls procurement processes of corporate. Purchase card
can be used for expenses like Travel & Entertainment (T&E), Telecommunications,
MRO, Office products, Professional services & Utility payments. A credit limit is
assigned to the corporate on the card and the corporate can thereafter use the card for
making payments to all vendors & suppliers. The corporate gets a credit period of up to
50 days and can thereafter repay ICICI Bank as per the billing due date. And ICICI Bank
Purchase card can be used on any VISA or MasterCard Network.
Purchase card can be used for all Indirect Expenses that an organization would be incurring.
These expenses can be routed through the Purchase Card for extracting maximum benefits
from the solution. Mentioned below are some of the indirect expenditures that an
organization incurs:
Travel & Entertainment
Telecommunications
Utility Payments
General MRO Goods
Office products
Computer and peripherals
Professional services
Lease and rental payments
 Distribution Card- Distribution Cards are a unique receivables management solution we
offer on the supply chain front. The value proposition in this solution suits large
businesses and immensely enhances process efficiencies and receivable control.
Your company's invoice-to-cash cycle squeezes to 24 hours without any risk or collection
Cash Management System hassles, and your intermediaries save on remittance costs
without having to open any account with us. All transactions pan-India get credited to the
company's account with all relevant MIS and other requirements. The dealer gets infusion
of capital and a flexible facility to settle transactions, enabling him to scale up his
business in a smarter way.
A measure of the success of this product is that in the fuel industry alone, we are doing a
monthly business of Rs. 900 crore and growing at a very fast clip.
 Business Card-The ICICI Bank Business Card is aimed at SMEs as an enabler for their
business. The Business card is a smart alternative to cheques, cash, and personal credit
cards. With its purchasing convenience, cost savings, available credit, and detailed
reporting facilities, the ICICI Bank Business Credit Card offers what your business needs
to stay on top.
5.3.3 Mobile Banking
Bank on the move with ICICI Bank Mobile Banking. With ICICI Bank, Banking is no longer
what it used to be. ICICI Bank offers the Mobile Banking facility to all its Bank, Credit Card,
Demat and Loan customers.
ICICI Bank Mobile Banking can be divided into two categories of facilities:
 Alert facility: The ICICI Bank Mobile Banking Alert facility informs you promptly of
the significant transactions in your accounts. It keeps you updated wherever you go.
 Request facility: ICICI Bank Mobile Banking Request facility enables you to ask for
your account information.
5.3.4 Phone Banking
ICICI bank offers phone banking facility to its customer. The toll free numbers are given to
the customer’s on whom they can operate following types of banking:
 They can enquire about their account balances.
 They can know about last three transactions.
 They can know about dishonor of cheques.
 Customers can request for new cheque books
 Customers can block their ATM/ Debit cards.
 Customers can stop the payments.
5.4 DEMAT & INVESTMENTS
5.4.1 Demat Services
ICICI Bank Demat Services boasts of an ever-growing customer base of over 11.5 lacs
account holders. In our continuous endeavor to offer best of the class services to our
customers we offer the following features:
E-Instructions: You can transfer securities 24 hours a day, 7 days a week through
Internet & Interactive Voice Response (IVR) at a lower cost. Now with "Speak to
transfer", you can also transfer or pledge instructions through our customer care
officer.
Consolidation Demat Account: Dematerialize your physical shares in various
holding patterns and consolidate all such scattered holdings into your primary Demat
account at reduced cost.
Digitally Signed Statement: Receive your account statement and bill by email.
Corporate Benefit Tracking: Track your dividend, interest, bonus through your
account statement.
Mobile Request: Access your Demat account by sending SMS to enquire about
Holdings, Transactions, Bill & ISIN details.
Mobile Alerts: Receive SMS alerts for all debits/credits as well as for any request
which cannot be processed. Dedicated customer care executives specially trained at
our call centre, to handle all your queries.
5.5 Investments
At ICICI Bank, we care about all your needs. Along with Deposit products and Loan
offerings, ICICI Bank assists you to manage your finances by providing various investment
options ranging from ICICI Bank Tax Saving Bonds to Equity Investments through Initial
Public Offers and Investment in Pure Gold. ICICI Bank facilitates following investment
products:
ICICI Bank Tax Saving Bonds
Government of India Bonds
Investment in Mutual Funds
Initial Public Offers by Corporate
Investment in "Pure Gold"
Foreign Exchange Services
Senior Citizens Savings Scheme, 2004
You can invest in above products through any of our branches. For select products ICICI
Bank also provides the ease of investing through electronic channels like ATMs and Internet
(ICICIdirect.com)
5.5.1 ICICI Bank Bonds
All ICICI Bank Bonds have been rated "AAA" by CARE and "LAAA" by ICRA
indicating the highest degree of safety for your money
All Investment in ICICI Bank Tax Saving Bonds issued up to March 2005 are eligible
for tax rebate under Sec 88 to the full extent possible.
Bonds are listed on BSE, NSE.
5.5.2 Mutual Funds
Mutual Funds pool money of various investors to purchase a wide variety of securities while
pursuing a specific goal. Selection of Securities for the purpose is done by specialists from
the field. Returns generated are distributed to the Investors.
Mutual Fund Companies offer various schemes. Investors can choose any particular
Fund/Scheme or mix of Funds/Schemes depending upon their perception towards risk.
Investment is done on the basis of prevailing Net Asset Values of various schemes.
Mutual Funds Investments are subject to Market Risks.
Types of Funds Sold
They will help you determine which types of funds you need to meet your investment goals.
This may include the following types of funds:
Debt: Liquid schemes, Income schemes, G-sec schemes, Monthly Income Schemes
etc.
Equity: Diversified Equity Schemes, Sector Schemes, Index Schemes etc.
Hybrid Funds: Balanced Schemes, Special Schemes - Pension Schemes, Child
education Schemes etc.
At ICICI Bank they help you identify an appropriate mix of Mutual Fund schemes for your
portfolio using asset allocation strategies.
Through ICICI Bank you can invest in various schemes of multiple mutual funds with decent
performance record. You can take the aid of our various research reports on mutual funds and
their schemes before choosing a scheme for investment. ICICI Bank offers investment in
Mutual Funds through Multiple Channels. With ICICI Bank, you can invest in Mutual Funds
through following channels
ICICI Bank Branches
ICICIdirect.com
Dedicated workforce to serve you
Before being deputed, our officers complete a comprehensive training program and,
once deputed, they receive thorough instructions in financial planning skills and
techniques. Throughout their careers officers also attend programs to update their
skills.
All officers in charge of Mutual Funds are certified professionals by AMFI
(Association of Mutual Funds in India)
Many of these officers also hold professional degrees like - MBA, CA, ICWA, CFA
etc.
5.5.3 IPO
You can invest in IPOs online through www.icicidirect.com with same convenience of
investing in equities - hassle-free and with zero paper work. Also, get in-depth analyses of
new IPOs issues (Initial Public Offerings) which are about to hit the market. IPO calendar,
recent IPO listings, prospectus/offer documents and live prices will help you keep on top of
the IPO markets.
5.5.4 ICICI Bank Pure Gold
Gold has been traditionally the most favored form of investment for Indians. In fact, India,
even today is amongst the highest consumers of Gold in the world. However, the Gold
market remains largely unorganized with reliability and convenience remaining the key
issues for gold buyers in the country.
ICICI Bank with its ‘Pure Gold’ offer attempts to bridge the gap between the need of the
customers for buying gold and availability of an organized avenue to satisfy that need, by
taking care of the two key components – Reliability and Convenience.
Reliability
24 Carat ICICI Bank Pure Gold is imported from Switzerland. This Gold carries a
99.99% Assay Certification, signifying highest level of purity, as per international
standards.
Convenience
ICICI Bank Pure Gold is competitively priced based on daily prices in the
international bullion market. Currently, gold is available in 2.5g, 5g, 8g, 20g and 50g
categories.
5.6 Senior Citizen’s Savings Scheme
Scheme Details:
o Senior Citizens Savings Scheme (SCSS) is a Government of India Product.
o 9% interest offered to depositors.
o Since the product is offered by Govt of India, this product is one of the most
Safest Investment Option.
o Premature closure of account is possible after one year from the date of
opening the account.
Advantages of Opening an SCSS Account with ICICI Bank.
o Large number of Branches
o Facility of Direct Credit of Interest to ICICI Bank Account.
o In case the investor does not want to avail Direct Credit facility or ECS
facility, 4 Post Dated Cheques will be sent to Investor every year.
o Account Statement containing the details of Deposit Balance & transactions.
o Phone Banking Facility (for Queries).

6 Conclusion
Retail banking is the fastest growing sector of the banking industry with the key success by
attending directly the needs of the end customers is having glorious future in coming years.
Retail banking sector as a whole is facing a lot of competition ever since financial sector
reforms were started in the country. Walk-in business is a thing of past and banks are now on
their toes to capture business. Banks therefore, are now competing for increasing their retail
business.
There is a need for constant innovation in retail banking. This requires product development
and differentiation, micro-planning, marketing, prudent pricing, customization, technological
up gradation, home / electronic / mobile banking, effective risk management and asset
liability management techniques.
While retail banking offers phenomenal opportunities for growth, the challenges are equally
discouraging. How far the retail banking is able to lead growth of banking industry in future
would depend upon the capacity building of banks to meet the challenges and make use of
opportunities profitably.
However, the kind of technology used and the efficiency of operations would provide the
much needed competitive edge for success in retail banking business. Furthermore, in all
these customer interest is of chief importance. The banking sector in India is representing this
and I do hope they would continue to succeed in this traded path.
ICICI Bank has strong banking operations. They believe in customer satisfaction in every
possible way. They are focused on quality of products and services rather than quantity of
products and services. They have a strong banking solution such as FINACLE which was
developed by Infosys. The bank is rapidly growing. They have an aggressive marketing
strategy. The bank provides speedy way of services to its customer with satisfaction.