THE INDIAN INSTITUTE OF PLANNING AND MANAGEMENT

MUMBAI

THESIS ON

“CUSTOMER ATTITUDE TOWARDS FINANCIAL SERVICE PROVIDED BY

INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA BANK”

SUBMITTED BY:-

MOHAMMED MIQDAAD RIZVI

PG (08-10)/ FW

ALUMNI NUMBER: - IIPM/ FW/ 08-10/

UNDER THE GUIDANCE OF

INTERNAL GUIDE: - MELISSA PINTO

EXTERNAL GUIDE: - Mr. RAJAT JOHRI

FINAL REPORT SUBMITTED FOR THE PARTIAL FULFILLMENT

OF MBA DEGREE (2008-2010)

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 The Indian Institute of Planning and Management

CERTIFICATE

I, Rajat Johri hereby certify that Mohammed Miqdaad Rizvi studying at the Indian Institute of
Planning and Management- Mumbai PGP (08-10) / Fall Winter Batch, has completed the project
“Customer Attitude Towards Financial Service Provided By Industrial Credit And Investment
Corporation Of India Bank”

The work contained in this thesis is original, except as acknowledged in the customary manner,
and has not been submitted previously for a degree at any university. To the best of my
knowledge and belief, this thesis contains no material previously published or written by another
person, except where due reference is made.

Mr. Rajat Johri

Sales Manager Bank

ICICI Prudential Co Ltd

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Chembur, Mumbai

Email- rajatjohri83@yahoo.com

The Indian Institute of Planning and Management

DECLARATION

I, Mohammed Miqdaad Rizvi, a student of MBA program, Trimester VI of the Indian Institute
of Planning and Management- Mumbai PGP (08-10) Fall Winter batch do hereby declare that
this report entitled “Customer Attitude Towards Financial Service Provided By Industrial
Credit And Investment Corporation Of India Bank” has been written and prepared by me
during the academic year 2008-2010. This project was done under the able guidance and
supervision of Johri in partial fulfillment of the requirement for the Master of Business
Administration Degree of IIPM.

I further declare that the information presented in this project is true and original in the best of
knowledge.

Mohammed Miqdaad Rizvi

Date: - July 2010

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Place: - Mumbai

The Indian Institute of Planning and Management

ACKNOWLEDGEMENT

The thesis what I have presented is not the made outcome of my labor alone. There are dozens of
hands buttressed me all through the programme it doesn’t go without thanking all of those who
constantly keep me on the more.

First and foremost I offer my sincerest gratitude to my supervisor, Mr. Rajat Johri, who has
supported me throughout my thesis with his patience and knowledge whilst allowing me the
room to work in my own way. I attribute the level of my Masters degree to his encouragement
and effort and without him this thesis, too, would not have been completed or written. One
simply could not wish for a better or friendlier supervisor. His guidance helped me in all the time
of research and writing of this thesis. I could not have imagined having a better advisor and
mentor for my study.

I wish to express my warm and sincere thanks to The Indian Institute of Planning and
Management, Mumbai to include final project as a part of curriculum.

I owe my most sincere gratitude to all the respondents for giving me their precious time and
relevant information.

Last but not the least; I would like to thank my parents, for giving birth to me at the first place
and supporting me spiritually throughout my life.

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 Table of Contents

Sr No. CHAPTERS Page No.

1 INTRODUCTION 5-12

2 ICICI GROUP PROFILE 13-18

3 BANK PROFILE 19-31

4 PRODUCT PROFILE 32-60

5 SURVEY ANALYSIS & INTERPRETATION 61-73

6 FINDINGS, SUGGESTIONS & CONCLUSION 74-78

7 ANNEXURE:- 79-90

QUESTIONNAIRE

BIBLIOGRAPHY

RESPONSE SHEET

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 CHAPTER - 1

INTRODUCTION:-

Indian Banking Industry

The Reserve Bank of India and it’s main functions

Objective of study

Scope of study

Research methodology

Limitations of the study

Chapter scheme

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 INTRODUCTION

Indian Banking Industry:-

Banking in India has its origin as early as the Vedic period. It is believed that the transition from
money lending to banking must have occurred even before Manu, the great Hindu juries, why
has devoted a section of his work to deposits and advances and laid down rules relating to rates
of interest. During the mogul period, the indigenous bankers played a very important role in
lending money and financing foreign trade and commerce. During the days of the East Indian
Company, it was the turn of two agency house to carry on the banking business.
The general bank of India was the first joint stock Bank to be established in year 1786. The
others which followed were the bank of Hindustan and the Bengal Bank. The bank of Hindustan
is reported to have continued till 1906 while the other two in established three banks: the bank of
Bengal in 1809, the bank of Bombay in 1840, and the bank of Madras in 1843. These three banks
also known as presidency banks were independent units and functioned well. These three banks
were amalgamated in 1920 and new bank, the Imperial Bank of India was established on 27th
January 1927, with the passing of the State Bank of India act in 1955 the undertaking of the
imperial bank of India was taken over by the newly constituted state bank of India.

The Reserve Bank which is the central bank was created in 1935 by passing Reserve Bank of
Indian act 1934 in the wake of the Swedish movement, number of bank with Indian management
were established in the country namely, Punjab National Bank Ltd, Bank of India Ltd, Canara
Bank Ltd, the Bank of Baroda ltd, the Central Bank of India Ltd. On July 19, 1969, 14 major
banks of the country were nationalized and in 15th April 1980 six more commercial private sector
banks were also taken over by the government.

Today the commercial banking system in India may be distinguished into:-

➢ Public sector banks

➢ Private sector banks
➢ Co-operative sector

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 ➢ Development banks
➢ Foreign bank

Public sector banks:-

1. State bank of the India and associates banks called the state bank groups
2. 20 Nationalized banks
3. Regional rural banks mainly sponsored by public sector banks
Private sector banks:-
1. Old generation private banks
2. New generation private banks
3. Foreign banks in India
4. scheduled co-operative banks
5. Non-scheduled banks.

Co-operative banks:-

1. State co-operative banks

2. Central co-operative banks
3. Primary agricultural societies
4. Land development banks
5. Urban co-operative banks.
6. Primary agriculture development
7. State land development banks

Development banks:-

1. Industrial Finance corporation of India

2. Industrial development bank of India
3. Industrial credit and Investment Corporation of India
4. Industrial investment bank of India
5. Small industrial development bank of India

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6. SCICI Ltd
7. National bank for agricultural and rural development
8. Export import bank of India
9. National housing bank
10. Housing development and Finance Corporation

Foreign Bank:-

1. City banks
2. HSBC
3. ABN-Amro
4. Standard Chartered
5. Others.

The Reserve Bank of India:-

The Reserve Bank of India Acts as centralized body monitoring and discrepancies and
short coming in the system it is the for most monitoring in the Indian financial sector the
nationalized bank (that is government owned banks) continued to dominate India bank arena.

Industry estimates indicate that out of 274 commercial banks operating in India 223
banks are in public sector and 51 are in private sector. The private sector banks grid also
includes 24 foreign banks that have started their operation here.

Under the admit nationalized bank come the specialized bank institutions. These co-
operatives, rural banks focus on area of agriculture rural development etc. unlike commercial
banks these co-operative banks do not lend on the basis of prime lending rate. They also have
various tax scopes because of their holding pattern and leading structure and hence have a lower
word this enables than to give marginally higher percentage on saving deposit.
Many of these co-operative banks diversified into specialized areas like car finance,
housing loans, truck finance etc. in order to keep a pace with the public sector and private
counter parts the co-operative banks too have invested heavily in information technology to offer
high computerized banking services to its clients.

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Main functions:-

1. Monitory Authority:-
➢ Formulates implements and monitors and monetary policy.
➢ Objectives maintaining price stability and ensuring adequate flow of credit to productive
sectors.

1. Regulating and supervisor of the financial system:-

➢ Prescribes board parameters of banking operations within which the country’s banking
and financial public functions.
➢ Objectives:- maintain public confidences in the system protect depositor’s interest and
provide cost-effective banking services to the public.

1. Manger of exchange control:-

➢ Manages the foreign exchange management Act-1999.
➢ Objective: - To facilitate external trade and payment promote orderly development and
maintenance of foreign exchange market in India.

1. Issuer of currency:-
➢ Issues and exchanges or destroys currency and coins not fit for circulation.
➢ Objective: - To give the public adequate quantity of supplies of currency notes and coins
in good quality.

1. Development Role:-
➢ Bankers to the government: Performs merchant banking functions for the central and
state government: also acts as their banker. Bankers to bankers: maintains banking
accounts of all scheduled banks

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Meaning &definition:-

The Indian banking regulation act 1949,

Under section 5(b) of act the term banking and banking company is defined as – “banking means
the accepting , for the purpose of lending or investment, of deposits of money from the public ,
repayable on demand or otherwise , and withdrawal by cheque draft order or otherwise “

From Above definition it is clear that banking is an institution which mainly performs some
functions such as accepting deposits from the public for the purpose of leading or investment and
the money in repayable on demand or otherwise & also the money is withdrawal by cheques
draft & order or otherwise its main purpose is to provide money to the needy.

Banking institutions which deals with money their business is finance, and their stock in trade is
currency & credit.

Need for study:-

The term bank has become a general and popular term today because they plays a dynamic role
in our daily life. Bank has become inspirable part of modern society. The project report entitled
“A study on financial service provided by ICICI bank” has been brought out to know the
performance of the branch in providing services to the society.

Objective of study:-
➢ To make a detail study of accounts, deposits & other services provided by ICICI bank
➢ To know the structure of the ICICI bank
➢ To detail study on loans provided by bank
➢ To find out the knowledge of customers about the various product offering by ICICI bank

Scope of study:-
➢ This study confines its analysis only with regard to financial service provided by ICICI
bank
➢ The study gives us about the performance and growth of the ICICI bank
➢ To increase our knowledge regarding banking activities and operations

Research methodology:-
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The value of any systematic research lies in its methodology giving a clear idea of the forms of
the study and procedure adopted in conducting the study.

For the study the methodology adopted is based on survey & interview method. For primary data
a sample of respondents are contacted and data obtained from them through Questionnaire.

Sample size:-

Sample size refers to the number of respondents to be included in the survey

Sample area:-

Sample area refers to the place where the study is conducted sample area selected for the study.

Source of data:

1. Primary data

2. Secondary data

Primary data:

Primary data are those that are collected as fresh for the first time and thus happen to be origin in
character.

Here primary data was collected through a structures questionnaire the selection of respondents
is based on simple random sampling. Information was collected from personnel interviews and
discussion with the manager of ICICI bank & also with respondents or the customers.

Secondary data:

The secondary data are those, which have collected by some others which have been processed

For the study the secondary data is collected from various sources such as news paper, journals,
articles, books and websites.

Tools used for the analysis:-

Major tools used for the analysis of the data are tables, percentages, bar charts, pie charts, tube
charts.

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 Limitations of the study:-

The main limitations of the study are as follows:-

➢ The information obtained may contain biased opinion.

➢ Problem of collecting information respondent’s noncooperation.
➢ The survey is restricted only to the ICICI bank.

Chapter Scheme:-
1. Introduction & design of study :-
In this chapter deals with researcher intends to discuss about the introduction statements
of problem objective of the study, scope of the study, research methodology, tools used
for analysis& limitations of study .this chapter will give brief introduction about the
project background.

2. ICICI group profile :-

In this chapter researcher intends to describe the history of the ICICI company, & the
Overview of ICICI Group Companies.

3. BANK profile:-
In this chapter researcher intends to describe the history of the bank which contains the
profile, branch network, organizational set up, human resource, financial profile, &
business profile & mission & vision of bank

4. Products & services:-

In this chapter researcher intends to list out the products and value added services
provided by bank.

5. Analysis & interpretation:-

This chapter heart of the project work it is indeed\spendable to the project worker to
conduct the survey and takes the opinion of customer. Projects worked takes opinion
from customer through different modes like questionnaire, conducting personnel
interview, referring secondary data, etc.

6. Summary of findings , recommendations and conclusion:-

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In last chapter it is conventional to analyze findings identified during the project work. It
is last but not least i.e. even though it is last chapter it gather very importance among all
other chapters. Hence project worker in this chapter analyze findings and puts some
recommendations & finally comes to conclusion.

CHAPTER-2

ICICI GROUP PROFILE

Overview of ICICI group

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 OVERVIEW
ICICI Group 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 group
companies, subsidiaries and affiliates in the areas of personal banking, investment banking, life
and general insurance, venture capital and asset management. With a strong customer focus, the
ICICI Group Companies have maintained and enhanced their leadership position in their
respective sectors.

ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is a major
banking and financial services organization in India. It is the 2th largest bank in India and the
largest private sector bank in India by market capitalization. The bank also has a network of
2,016 branches (as on 31 March 2010) and about 5,219 ATMs in India and presence in 18
countries, as well as some 24 million customers (at the end of July 2007). ICICI Bank offers a
wide range of banking products and financial services to corporate and retail customers through
a variety of delivery channels and specialization subsidiaries and affiliates in the areas of
investment banking, life and non-life insurance, venture capital and asset management. (These
data are dynamic.) ICICI Bank is also the largest issuer of credit cards in India. ICICI Bank's
shares are listed on the stock exchanges at Kolkata and Vadodara, Mumbai and the National
Stock Exchange of India Limited; its ADRs trade on the New York Stock Exchange (NYSE).

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ICICI Prudential Life Insurance Company is a74: 26 joint venture with prudential plc (UK). It
is the largest private sector life insurance company offering a comprehensive suite of life, health
and pensions products. It is also the pioneer in launching innovative health care products like
Diabetes Care Active and health Saver. The company operates on a multi-channel platform and
has distribution strength of over 2, 76,000 financial advisors operating from more than 2000
branches spread across 1800 locations across the country. In addition to the agency force, it also
has tie-ups with various banks, corporate agents and brokers. In fiscal 2009, ICICI Prudential
attained a market share of 10.9% based on retail weighted premium and garnered a total
premium of Rs 153.56 billion registering a growth of 13% and held assets of Rs. 327.88 billion
as on March 31, 2009.

ICICI Lombard General Insurance Company, a joint venture with the Canada based Fairfax
Financial Holdings, is the largest private sector general insurance company. It has a
comprehensive product portfolio catering to all corporate and retail insurance needs and is
present in over 300 locations across the country. ICICI Lombard General Insurance has achieved
a market share of 27.2% among private sector general insurance companies and an overall
market share of 11.2% during fiscal 2009.
ICICI Lombard GIC Ltd. is the largest private sector general insurance company in India with
a Gross Written Premium (GWP) over Rs. 3,694.80 crore (US$ 786.99 million)as of March
2010. The company issued over 44 lakh policies and settled over 62 lakh claims and has a claim
disposal ratio of 96% of total reported claims. The company presently has around 4,777
employees in 357 branches.
ICICI Lombard is a 74:26 joint venture between ICICI Bank Limited, India’s second largest
bank with USD 75 billion in assets and Fairfax Financial Holdings Limited, a Canada based
USD 27 billion diversified financial services company engaged in general insurance,
reinsurance, insurance claims management and investment management.

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Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited, is one of
Canada's oldest property and casualty insurers. It is a leading insurance management company
responsible for providing insurance management services for all of the Lombard group's
commercial, personal, and specialized insurance companies. Lombard Canada Ltd. has its head
office in Toronto, Canada and has annual sales in excess of $977 million and is a wholly owned
subsidiary of Fairfax Financial Holdings Limited (FFH on Toronto Stock Exchange). It has
received an A- rating from A.M. Best Company and claims paying ability received an A+
rating from Duff & Phelps Credit Rating Co.

ICICI Lombard has been assigned a domestic rating of iAAA by ICRA (an associate of
Moody’s Investors Service) for highest claim paying ability and a fundamentally strong
position. ICICI Lombard allows instant policy issuance and renewal through its website
www.icicilombard.com for all retail insurance products including Car Insurance, Health
Insurance, Travel Insurance, Two Wheeler Insurance and Home Insurance. There are multiple
payment options available including internet banking, credit card, debit card and cash card.

ICICI Lombard Auto Insurance has been rated highest in customer satisfaction by J.D. Power
Asia Pacific in India among 11 auto insurance providers. The company has been conferred the
Golden Peacock- Eco Innovation Award of 2009 for weather insurance and the Customer and
Brand Loyalty award in the “Insurance Sector - Non-Life” at the 2nd Loyalty awards, 2009. It
was awarded the ‘General Insurance Company of the Year’ at the 11th Asia Insurance Industry
Awards. The company also won the NDTV Profit Business Leadership Award 2007 and was
adjudged as the most Customer Responsive Company in the Insurance category at the
Economic Times Avaya Global Connect Customer Responsiveness Award 2006. It has the
Gold Shield for “Excellence in Financial Reporting” by the ICAI (Institute of Chartered
Accountants of India) for the year ended March 31, 2006.

ICICI Securities Ltd is the largest equity house in the country providing end-to-end solutions
(including web-based services) through the largest non-banking distribution channel so as to
fulfill all the diverse needs of retail and corporate customers. ICICI Securities (I-Sec) has a
dominant position in its core segments of its operations - Corporate Finance including Equity
Capital Markets Advisory Services, Institutional Equities, Retail and Financial Product
Distribution.

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ICICI Securities Primary Dealership Limited is the largest Primary Dealer in Government
Securities. It is an acknowledged leader in the Indian fixed income and money markets, with a
strong franchise across the spectrum of interest rate products and services - institutional sales and
trading, resource mobilization, portfolio management services and research. One of the first
entities to be granted Primary Dealership license by RBI, I-Sec PD has made pioneering
contributions since inception to debt market development in India. I-Sec PD is also credited with
pioneering debt market research in India. I-Sec PD has been recognized as the 'Best Domestic
Bond House in India' by Asia money every year from 2002 to 2007 and selected as 'Best Bond
House' by Financeasia.com for the years - 2001, 2004 to 2007 and 2009."

ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY:-

ICICI Prudential Asset Management is the third largest mutual fund. The Company manages
a comprehensive range of mutual fund schemes and portfolio management services to meet the
varying investment needs of its investor’s through162 branches and 185 CAMS official point of
transaction acceptance spread across the country.

ICICI Venture is one of the largest and most successful private equity firms in India with funds
under management in excess of USD 2 billion. ICICI Venture, over the years has built an
enviable portfolio of companies across sectors including Life Sciences, Information Technology,
Media, Manufacturing, Retail, Financial Services, and Real Estate thereby building sustainable
value. It has several “firsts” to its credit in the Indian Private Equity industry. Amongst them are
India’s first leveraged buyout (Info media), the first real estate investment (Cyber Gateway), the
first mezzanine financing for a acquisition (Arch Pharmalabs), the first ‘royalty-based’ structured
deal in Pharmacy Research & Development (Dr Reddy’s Laboratories - JV) and the first fund
level secondary transaction (Collar Capital).
The team at ICICI Venture is a mix of investment professionals, entrepreneurs, industry
professionals, and structured finance professionals. The complementary strengths of the various
team members ensures not only the best deal sourcing and the most optimum structuring but also
the ability to add significant value to the portfolio companies.

ICICI Venture has the largest team strength amongst all private equity firms in India. In addition,
what makes the team unique is the presence of in-house legal, finance, compliance and risk
departments. The management team at ICICI Venture has the experience of executing large and

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complex transactions, structuring innovative deals and creating new investment landscapes
through each of its investments.
Vision & values if ICICI venture:-
Vision:-
ICICI venture shapes the investment land space by being the first mover and by
channelizing all requisite resource to create new economic opportunities
ICICI venture partners and nurtures enterprises across stages sectors and geographies
build the winner of tomorrow
ICICI venture maximizes returns by leveraging its unique position, strengths and
innovative skills

They live this vision every moment and have

the power and the passion to make it happen
Values:-

Integrity

Excellence

Trust

Respect for all

Enterprise

Ownership

Enduring Relationship

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 Chapter -3

BANK PROFILE

Vision & mission

Objectives of ICICI bank

History

Board of director

Organization structure

Financial statements

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Vision of ICICI bank
Over the last few years, the ICICI Bank has taken rapid strides in developing new businesses in
line with its proposition to offer complete financial services to both corporate and retail
customers.

With the recent addition of insurance, the proposition of ICICI Bank is now fulfilled. Going
forward, the challenge for ICICI will be to continue innovating to improve market shares and
maintain its competitive edge. In this Endeavour, ICICI will continue to benchmark with global
best practices to ensure optimum utilization of its resources and the finest exposure to its work
force. The speed with which it has been able to transform the organization and successfully start
so many new businesses is almost singularly owing to the skills, enterprise and the depth of its
human resources.

ICICI Bank is committed to enriching this valuable resource which in turn, will allow it to bring
innovative practices to the world of financial services in India. With technology playing the key
role the vision is to develop ICICI Bank into an organization that is empowered by bright and
talented individuals, working in teams and riding on the backbone of world class technology.

Mission of ICICI bank

ICICI Bank as an organization has been built on the principles of professionalism, ethics and
financial expertise. The bank believes that its existence and development are closely interlinked
with its ability to serve both the corporate an retail customers. This belief has evolved into its
corporate philosophy of growth, innovation and stability.

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The bank aims to provide the benefits of universal banking to its corporate, investors and retail
clients. The goal is to ensure that dealing with ICICI Bank is safe, simple and efficient.
ICICI Bank attempts to pursue growth and innovation without compromising on its stability.

Objective of ICICI Bank

“Our objective of creating a universal bank providing end-to-end financial services, clearly
required solutions which were based on new-generation technology, offered end-to-end
functionality and were highly flexible and scalable. Finacle offered all this and much more.”

History
ICICI Bank started as a wholly owned subsidiary of ICICI Limited, an Indian
financial institution, in 1994. Four years later, when the company offered ICICI Bank's shares to
the public, ICICI's shareholding was reduced to 46%. In the year 2000, ICICI Bank offered made
an equity offering in the form of ADRs on the New York Stock Exchange (NYSE), thereby
becoming the first Indian company and the first bank or financial institution from non-Japan
Asia to be listed on the NYSE. In the next year, it acquired the Bank of Madura Limited in an
all-stock amalgamation. Later in the year and the next fiscal year, the bank made secondary
market sales to institutional investor
With a change in the corporate structure and the budding competition in the Indian Banking
industry, the management of both ICICI and ICICI Bank were of the opinion that a merger
between the two entities would prove to be an essential step. It was in 2001 that the Boards of
Directors of ICICI and ICICI Bank sanctioned the amalgamation of ICICI and two of its wholly-
owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital
Services Limited, with ICICI Bank. In the following year, the merger was approved by its
shareholders, the High Court of Gujarat at Ahmadabad as well as the High Court of Judicature at
Mumbai & the reserve bank of India.
ICICI Bank Milestones…………………………………………….
ICICI emerges as the major source of foreign currency loans to Indian industry. Besides funding
from the World Bank and other multi-lateral agencies, ICICI was also among the first Indian
companies to raise funds from international markets.
The long journey of 55 years has had several milestones…………………
1955:-The Industrial Credit and Investment Corporation of India Limited

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(ICICI) incorporated at the initiative of the World Bank, the Government of
India and representatives of Indian Industry, with the objective of creating a development
Financial Institution for providing medium-term and long-term project financing to
Indian businesses. Mr. A.Ramaswami Mudaliar elected as the first Chairman of ICICI
Limited.

1956:-ICICI declared its first dividend of 3.5%.

1958:-Mr.G.L.Mehta appointed the second Chairman of ICICI Ltd.

1960:-ICICI building at 163, Back Bay Reclamation, inaugurated.

1961:-The first West German loan of DM 5 million from Kredianstalt obtained

1967:-ICICI made its first debenture issue for Rs.6 crore, which was oversubscribed.

1969:-The first two regional offices in Calcutta and Madras set up.

1972:- The second entity in India to set up merchant banking services.

1977:-ICICI sponsored the formation of Housing Development Finance Corporation.

1978:-Mr. James Raj appointed the fourth Chairman of ICICI.

1979:-Mr.Siddharth Mehta appointed the fifth Chairman of ICICI.

1982:-ICICI became the first ever Indian borrower to raise European Currency Units.

1984:-Mr. S. Nadkarni appointed the sixth Chairman of ICICI.

1985: -Mr. N.Vaghul appointed the seventh Chairman and Managing Directors of ICICI.

1986: -ICICI became the first Indian institution to receive ADB Loans ICICI, along with
UTI, set up Credit Rating Information Services of India Limited, India's first professional
credit rating agency.
➢ ICICI promotes Shipping Credit and Investment Company of India Limited.

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 1987:-The Corporation made a public issue of Swiss Franc 75 Million in Switzerland, the
first public issue by any Indian entity in the Swiss Capital Market.

1988:-ICICI signed a loan agreement for Sterling Pound 10 million with Commonwealth
Development Corporation (CDC), the first loan by CDC for financing projects in India.

1993:-Promoted TDICI - India's first venture capital company.

1994:-ICICI Securities and Finance Company Limited in joint venture with J. P. Morgan
set up.

1996:-ICICI Asset Management Company set up.

➢ ICICI Bank set up.
➢ ICICI Ltd became the first company in the Indian financial sector to raise GDR.

1997:- SCICI merged with ICICI Ltd.

Mr. K.V.Kamath appointed the Managing Director and CEO of ICICI Ltd.

1998:- The Industrial Credit and Investment Corporation Of India Ltd changed to ICICI
Ltd. ICICI Ltd announced the Takeover of ITC Classic Finance.

1999:- Introduced the new logo symbolizing a common corporate identity for the ICICI
Group. ICICI announced takeover of Anagram Finance

2000:-ICICI launched retail finance-car loans, house loans and loans for consumer
durables. ICICI becomes the first Indian Company to list on the NYSE through an issue
of American. Depositary Shares.

2001:-ICICI Bank became the first commercial bank from India to list its stock on
NYSE.
➢ ICICI Bank announces merger with Bank of Madura.
➢ The Boards of ICICI Ltd and ICICI Bank approved the merger of ICICI with ICICI
Bank. 2002: ICICI Ltd merged with ICICI Bank Ltd to create India's second largest bank
in terms of assets.
➢ ICICI assigned higher than sovereign rating by Moody's. : ICICI Bank launched India's
first CDO (Collateralized Debt Obligation) Fund named Indian Corporate Collateralized
Debt Obligation Fund (ICCDO Fund).
➢ "E Lobby", a self-service banking centre inaugurated in Pune. It was the first of its kind
in India.
➢ ICICI Bank launched Private Banking.
➢ 1100-seat Call Centre set up in Hyderabad

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➢ ICICI Bank Home Shoppe, the first-ever permanent aggregation and display of housing
projects in the county, launched in Pune.
➢ ATM-on-Wheels, India’s first mobile ATM, launched in Mumbai.

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
➢ Temasek Holdings acquired 5.2% stake in ICICI Bank.
➢ ICICI Bank became the market leader in retail credit in India.

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.

2005:-ICICI 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
➢ ICICI Bank opened its 500th branch in India.
➢ ICICI Bank became the largest bank in India in terms of its market capitalization.

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.

2007:- Introduced a new product - 'NRI smart save Deposits' – a unique fixed deposit
scheme for non resident India.
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.

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➢ 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 $5 billion) from both domestic and
international markets through a follow-on public offer.
➢ ICICI Bank's GBP 350 million international bond offering marked the inaugural deal in
the sterling market from an Indian issuer and also the largest deal in the sterling market
from Asia.
➢ Launched India's first ever jewellery card in association with jewelry major Gitanjali
Group.
➢ ICICI Bank became the first bank in India to launch a premium credit card -- The Visa
Signature Credit Card.
➢ Foundation stone laid for a regional hub in Gandhinagar, Gujarat.
➢ Introduced SME Toolkit, an online resource centre, to help small and medium enterprises
start, finance and grow their business.
➢ ICICI Bank signed a multi-tranche dual currency US$ 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, nation wide 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.

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.

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 2009:- ICICI bank ties up with BSNL Cell One for bill payments; it will facilitate bill
payment for BSNL Cell One users through www.icicibank.com across all the 27 circles
of BSNL.
➢ ICICI Bank Limited acting through its Hong Kong Branch (ICICI Bank) signed an
agreement on Export Credit Line totaling up to US$100 million with the Japan Bank for
International Cooperation (JBIC) which constitutes the international wing of Japan
Finance Corporation.
➢ ICICI Bank Limited acting through its Hong Kong Branch (ICICI Bank) signed a loan
agreement with the Export-Import Bank of China (China EXIM) for USD 98 million
under the Two- step Buyer Credit (Export Credit) arrangement. ICICI Bank is the first
Indian Bank to have entered into this arrangement with China EXIM.
➢ ICICI Bank announced an association with mChek, India's leading mobile payment
solutions provider, to facilitate mChek services to all ICICI Bank Debit and Credit Card
customers. These are electronic cards issued to the customers with mChek application on
their mobile phone.
➢ Ms Chanda Kochhar takes charge as the Managing Director & CEO of ICICI Bank from
May 1, 2009.

2010:- ICICI Bank’s Green initiatives aimed at customers are driven by the objective of
collaborating with each of our customers and making ‘Green’ a part of all our lives.
These initiatives range from Green offerings/ incentives, Green engagement to Green
communication to our customers.

➢ 35% year-on-year increase in standalone profit after tax to Rs. 1,006 crore for the quarter
ended March 31, 2010 from Rs. 744 crore for the quarter ended March 31, 2009
➢ Highest ever consolidated profit after tax of Rs. 4,670 crore for the year ended March 31,
2010; 31% increase from Rs. 3,577 crore for the year ended March 31, 2009
➢ Current and savings account (CASA) ratio increased to 41.7% at March 31, 2010 from
28.7% at March 31, 2009
➢ Net non-performing asset ratio decreased to 1.87% at March 31, 2010 from 1.96% at
March 31, 2009 and 2.19% at December 31, 2009
➢ Strong capital adequacy ratio of 19.4% and Tier-1 capital adequacy of 14.0%
➢ Dividend of Rs. 12 per share proposed

Present status of organization :-

Technology

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 Our technology driven banking system ensure a wide reach, instant online transaction and faster
dealings.

Product range

Our products spectrum includes easy loans, phone banking , doorstep banking , etc . we also
have products targeted at specific groups . the zero balance roaming current accounts caters
specifically to entrepreneurs. It offer remittance export, import and advisory service .besides ,
being a “zero balance” account it enables our customer to utilize their financial resources more
effectively.
Size & network

We have a wide customer base. Our ‘click and brick” distribution network includes, ATM ,
internet banking and mobile banking.

Customer Relationship

We believe in establishing a personal relation with our customers so that we can understand
their needs better and provide effective customized service. We have received several
prestigious national and international awards in recognition of our innovation in banking
customer service technology focus and human resource practices
These include:

➢ Triple AAA Best cash management country award in India -2005 the asset
➢ Best bank in India -2004 Euro money
➢ Travel & tourism India’s most customer friendly bank -2004 outlook money
➢ Best bank 2004 business India
➢ Best domestic commercial bank -Asian money
➢ Best emerging bank in India – global finance
➢ Best multi – channel strategy 2003 the banker magazine uk
➢ Bank of the year 2003 in India the banker magazine UK
➢ Excellent in retail finance services 2003 Asian banker journal

Global Reach
ICICI bank’s global network spans 19 countries.

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Board of Director’s

Ms. Chanda D. Kochhar

Managing Director, Chief Financial Officer and Chief Executive
Officer of ICICI Bank Limited

Mr. Sandeep Bakhshi

Deputy Managing Director

Page | 29
 Mr. Rajiv Sabharwal Mr. N. S. Kannan, Mr. K. Ramkumar
Executive Director Executive Director Executive Director

Organization Structure

Our organization structure is designed to be flexible and customer-focused. At the same time, we
seek to ensure effective control and supervision and consistency in standards across the
organization. The organization is structured into the following principal groups:

➢ Retail Banking Group, comprising the retail liabilities, retail assets and small enterprises
businesses.

➢ Rural, Micro-banking and Agri-business Group, comprising the rural and agricultural lending
and other banking businesses.

➢ Wholesale Banking Group, comprising the corporate & investment banking, commercial
banking, project finance and government banking businesses.

➢ International Banking Group, comprising the Bank’s international operations, including

operations in various overseas markets as well as products and services for NRIs, international
trade finance, correspondent banking and wholesale resource mobilization.

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 ➢ Global Markets Group, comprising our global client-centric treasury operations.

➢ Corporate Centre, comprising financial reporting; planning and strategy; asset liability
management; investor relations; secretarial; corporate communications; risk management;
compliance; internal audit; legal; financial crime prevention and reputation risk management;
and the Bank’s proprietary trading operations across various markets.

➢ Human Resources Management Group, which is responsible for the Bank’s recruitment,
training, leadership development and other personnel management functions and initiatives.

➢ Global Operations & Middle Office Groups, which are responsible for back-office operations,
controls and monitoring for our domestic and overseas operations.

➢ Organizational Excellence Group, which is responsible for enterprise-wide quality and process
improvement initiatives.

➢ Technology Management Group, which is responsible for enterprise-wide technology

initiatives, with dedicated teams serving individual business groups and managing information
security and shared infrastructure.

➢ Global Infrastructure & Administration Group, which is responsible for management of

corporate facilities and administrative support functions.
Financial statement:-

------------------- in Rs. Cr. -------------------

Balance Sheet of ICICI Bank

Balance Sheet of ICICI Bank (Rs in Crore)

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 Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

12 mths 12 mths 12 mths 12 mths 12 mths

Capital and Liabilities:

Total Share Capital 1,239.83 1,249.34 1,462.68 1,463.29 1,114.89

Equity Share Capital 889.83 899.34 1,112.68 1,113.29 1,114.89

Share Application Money 0.00 0.00 0.00 0.00 0.00

Preference Share Capital 350.00 350.00 350.00 350.00 0.00

Reserves 21,316.16 23,413.92 45,357.53 48,419.73 50,503.48

Revaluation Reserves 0.00 0.00 0.00 0.00 0.00

Net Worth 22,555.99 24,663.26 46,820.21 49,883.02 51,618.37

Deposits 165,083.17 230,510.19 244,431.05 218,347.82 202,016.60

Borrowings 38,521.91 51,256.03 65,648.43 67,323.69 94,263.57

Total Debt 203,605.08 281,766.22 310,079.48 285,671.51 296,280.17

Other Liabilities & Provisions 25,227.88 38,228.64 42,895.39 43,746.43 15,501.18

Total Liabilities 251,388.95 344,658.12 399,795.08 379,300.96 363,399.72

Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

12 mths 12 mths 12 mths 12 mths 12 mths

Assets

Cash & Balances with RBI 8,934.37 18,706.88 29,377.53 17,536.33 27,514.29

Balance with Banks, Money at Call 8,105.85 18,414.45 8,663.60 12,430.23 11,359.40

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 CHAPTER - 4

PRODUCT PROFILE

Accounts & deposits

Loans

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 Credit cards & debit cards

Investments

Mutual funds

Insurance

Wealth management service

Products & services of ICICI Bank

Accounts & Deposits:-

ICICI Bank has designed a gamut of accounts and deposits to cater to your unique
banking needs. Add this extensive branch & ATM network and facilities like mobile, phone,
internet and doorstep banking, and experience banking at its best.

Savings Account

An ICICI Bank Savings Account offers you a valuable banking experience.

➢ Money Multiplier Facility
➢ Debit-cum-ATM Card
➢ Internet Banking

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➢ Customer Care
➢ Mobile Banking
➢ Standing Instructions
➢ Nomination facility
➢ DD Call and Collect

➢ Money Multiplier Facility - Get higher returns and liquidity on surplus funds in your
account, with the money multiplier facility. .

➢ Debit-cum-ATM Card - Now access your money from anywhere ,with cash withdrawal
across ATMs and direct purchase facility at Visa/Master POS ( Point of Sale ) machine in
most stores.

➢ Internet Banking - Do all the banking transactions conveniently.

➢ Customer Care - Get easy assistance 24- hours, on any query related to account or to
give any instructions, with their Customer Care facility.

➢ Mobile Banking - Now transfer funds or know customer account balance, by simply
using your mobile phone's SMS, WAP or I-Mobile services.
➢ Standing Instructions - Automate customer regular transaction and save time.

➢ Nomination Facility - Pass on benefits of Customer account proceeds to loved ones with
ICICI nomination facility.
➢ DD Call and Collect - No more waiting time to collect a Demand Draft or Pay Order.

Recurring Deposits
➢ ICICI Bank Recurring Deposits are an ideal way to invest small amounts of money every
month and end up with a large kitty on maturity.
➢ High recurring billing and recurring payments can be a drain on finances and hence large
investments may seem a plan away.
➢ Processing recurring payment through our recurring billing software that keeps track of
customer investments with ICICI. This can be easily availed of through a recurring
account online that comes with letting us serve customers through Internet banking.
Customer may even transfer funds through Internet banking into their recurring account.
A recurring account transfer gets done in seconds through Internet banking.

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 Features of Recurring Deposit

➢ With ICICI Recurring Deposits any one can avail a host of facilities with ICICI Bank.
Customer may check on recurring account receivable, recurring account payable,
recurring account fees and all recurring debit account transactions.
➢ A recurring deposit account with ICICI Bank allows a loan against the deposit. ICICI
new recurring deposit account also has a special feature - Non-applicability of Tax
Deduction at Source (TDS).
➢ The minimum balance of deposit is Rs.500 per month and thereafter in multiples of
Rs.100. The tenure ranges from 6 months to a maximum period, recurring deposit of 3
months thereafter.

Salary Account

ICICI Bank Salary Account is a benefit-rich payroll account for Employers and
Employees. As an organization, can opt for ICICI Salary Accounts to enable easy disbursements
of salaries and enjoy numerous other benefits too.

With ICICI Bank Salary Accounts employees will enjoy the convenience of:
Having the largest network of ATMs at their command.
Free 24 hour Phone Banking.
Free Internet Banking..

ICICI Bank Salary Accounts benefits in more than one ways:-

Reduces your paperwork.
Saves remittance costs.
Employees receive instant credit of salaries.
More convenient than ECS.
Besides all of the above, employees will automatically become ICICI Bank account holders with
special benefits and privileges of 8-8 banking, Investment advisory and much more.
ICICI Bank also has a special offering: Defense Banking Services designed exclusively for the
armed forces.

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 Life Plus Senior Citizen Services

ICICI Bank’s ‘Life Plus’ Senior Citizen Services have been designed to empower
senior citizens to independently carry out the day-to-day banking transactions with dignity and
confidence. These senior citizen benefits are exclusively for customers above 60 years of age.

The ICICI Bank Edge

➢ Designated Senior Citizen’s desk for Life Plus customers at all ICICI Bank branches
➢ Higher Interest Rates on Term Deposits
➢ Overdraft against your deposit
➢ Free collection of outstation cheques drawn on any ICICI Bank location
➢ Special Senior Citizen 'Life Plus' Debit card
➢ Money Multiplier Facility
➢ Anywhere Banking
➢ Internet Banking
➢ Customer Care
➢ Nomination Facility
Fixed Deposit
➢ Wide range of tenures.
➢ Choice of investment plans.
➢ Partial withdrawal permitted.
➢ Safe custody of fixed deposit receipts.
➢ Auto renewal possible.
➢ Loan facility available.

Features of Fixed Deposit:-

Anyone can deposit any amount of money in our Fixed Deposit for as long as wish between 15
days to 10 years. All fixed deposits come with a set choice of investment plans. Fixed Rate
Deposit accounts also provide Fixed Loans. Re-investment Fixed Deposit rates do not change
but work likes a Recurring Debit Account transaction. In other words, Re-investment Plans are
compounded over traditional deposits and hence are more lucrative over different time periods.

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Benefits of Fixed Deposit:-

Fixed Deposits at ICICI Bank comes with nomination facility. ICICI also offer online access to
Fixed Deposits through ICICI Internet Banking channel. Internet Banking at ICICI Bank allows
connecting customer Credit Card, Loan and their Fixed Deposit with their savings account.
In re-investment deposits, the interest is compounded quarterly and reinvested with the principal.
Traditional term deposits provide tax shelter and shield you from factors affecting fixed deposits
in India over longer periods of fixed time

Advantage Woman Savings Account

The ICICI Bank Advantage Woman Account enables today’s independent women to enjoy
hassle-free banking services. Besides the core ICICI Bank advantage, the Advantage Woman
Savings Account is packed with special benefits for our women customers. Enjoy your present
and plan for the future with ICICI Bank’s Advantage Woman Savings Account.

Advantage Woman offers a specially designed woman's debit card which helps you shop and
save simultaneously, manages your household expenditures and comes with a bag full of offers
attached to it.

Eligibility:

Advantage Woman Savings Account can be opened with primary applicant as any resident
Indian woman (majors above 18 years).

The ICICI Bank Edge

➢ Zero Balance facility with a RD of just Rs. 2,000**.

➢ A Special International Woman's Debit card along with the account with a withdrawal /
spending limit of Rs. 25,000 per day.

➢ Gamut of discounts and benefits on your Special Woman's Debit card.

➢ Free multi-city cheque book.

➢ Free quarterly physical account statement and free monthly email statement (on customer
request).

➢ Online Bill Pay facility by issuing a one-time standing instruction.

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 ➢ Multi channel access through ATM, Branch network and free Internet, mobile and phone
banking.

➢ Nomination facility available.

Freedom Savings Account

ICICI Bank Freedom Savings Account puts powerful banking services at your
fingertips, to help meet the needs of your busy lifestyle. (Our branches have extended banking
hours) .Our nationwide network of over (4750) ATMs and (1400) branches ensure you are on
top of your banking wherever you go. Add to this, our 24 x 7 Internet Banking and Mobile
Banking, and people are set for a whole new way of banking.

The ICICI Bank Edge

➢ Debit-cum-ATM Card - Withdraw cash from any ATM or pay for your shopping or
purchases with your ICICI Bank Debit-cum-ATM Card at millions of establishments
across India.
➢ Money Multiplier Facility - Get the liquidity of a Savings Account coupled with high
earnings of a Fixed Deposit. Any idle money in your savings account is transferred to the
linked fixed deposit. Thus you earn higher interest and at the same time enjoy liquidity.
➢ Internet Banking - Access your account from home or office, transfer funds, pay bills,
pay for your online ticket booking and more.
➢ Customer Care - Our 24-hour Customer Care is always available to answer any query or
take your instructions.

➢ Mobile Banking - Put the bank in your pocket with iMobile, our revolutionary new
mobile application. You can also do routine banking transactions via SMS requests,

➢ Standing Instructions - Set up a Standing Instruction to manage regular payments like

transfers to your Fixed or Recurring Deposit account.

➢ Nomination Facility - Nominate a person as beneficiary to your account proceeds.

➢ DD Call and Collect - Call Customer Care, provide details of the DD to be prepared and
collect it ready and signed at the branch.

➢ Anywhere Banking - Withdraw or deposit cash across all ICICI Bank branches.

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 ➢ You need to maintain an average quarterly balance of Rs.10, 000; Non maintenance of
the minimum average quarterly balance attracts a fee of Rs. 750 per quarter plus
transaction charges. Interest payments are made half-yearly into your account.

Advantage Deposit

Advantage Deposit is a 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.
➢ Combination of a Fixed Deposit (with monthly interest payout) and Systematic
Investment Plan (SIP) of a Mutual Fund.

➢ Re-investment of monthly interest payout of Fixed Deposit into systematic investment

plan of Mutual Fund.

➢ Automatic debits to account through Standing Instruction / ECS debit mandate.

Family Banking

Family Banking provides you with the following benefits:

➢ Access to superior benefits for the entire family:-Family Banking makes the superior
product benefits of Privilege Banking, Wealth Management and Global Private Client
(GPC) available to all the members of your family while the required minimum balance
can be maintained in any one of the accounts.
➢ Lower minimum balance requirement at individual customer level:-The minimum
Quarterly Average Balance (QAB) required to be maintained at the Family ID level is
much lower than the QAB required to be maintained at the individual CUST ID level by
each of the family members to avail of the same product benefits.

➢ Flexibility to maintain balances across account:-Customer now have the flexibility of

maintaining the required minimum balance in any one (or more) of the accounts that
members of your family hold with ICICI Bank.

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 ➢ Single Family Bank:-All your banking needs can now be catered to by a single 'Family'
bank.

Young Stars
A Young Stars, ICICI will guide your child through the world of banking from checking the
child’s savings account balance to guiding through fun zones and special pages on the Internet
Banking channel. It makes banking a pleasure and teaches your child to manage his or her
personal finances through a savings account.
You can transfer pocket money into your child's account. You can even shop with him / her at
Young Stars Shopping Page. You can also open a recurring deposit in your child's name.
Once you are done with your 'banking', you can access your child's account with all the fun links
to special zones designed to suit your child's area of interests and also impart knowledge on the
current events of the world.

Key Features

➢ Open a Kid's Savings Account, Fixed Deposit or a Recurring Deposit.

➢ The minimum average balance for a Savings Account Is Rs.2, 500.

➢ Free personalized Cheque Book

➢ Internet Banking.

➢ Free International Debit Card*.

➢ Daily withdrawal and spends of up to Rs.2, 500.

➢ Transfer Funds Facility.

Eligibility:-
ICICI Bank Young Stars Account is a banking service for children in the age group of 1 day-18
years. It is essential for the parent/guardian to also hold an account with ICICI Bank. In event of
the parent/guardian not holding an ICICI Bank Savings Account, both the accounts (parent's
Saving Account and Young Star Account) can be simultaneously opened.

Resident Foreign Currency (Domestic) Account

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You can buy traveler’s cheques, foreign currency in cash and foreign currency demand draft for
your expenses overseas. If you are a frequent traveler, you may not want to go through the
hassles of buying foreign currency every time you travel abroad.

The Reserve Bank of India has now made it easier for you to access foreign currency by
permitting a foreign currency account (domestic) for resident Indians. In line with RBI
guidelines, ICICI Bank has come up with a scheme that helps you get rid of all your forex
worries. You can park your foreign currency in ICICI Bank under RFC (D) account. Non-
interest bearing Resident Foreign Currency (D) (RFC (D)) with ICICI Bank can be maintained in
four major currencies (USD, EURO, GBP and Japanese Yen)

Benefits of ICICI Bank RFC (D) Account

➢ Saving in commission charges, as you can withdraw foreign currency when you want
without any conversion charges.

➢ Facilitates your payments for foreign travel expenses.

➢ No ceiling on deposits.

➢ Convenient and value-added banking.

➢ Protection to your money from valuation risks due to exchange rate fluctuations.

➢ No ceiling on the maximum amount of deposit in the account

Loans

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ICICI Bank offers wide variety of Loans Products to suit customer requirements. Coupled with
convenience of networked branches/ ATMs and facility of E-channels like Internet and Mobile
Banking, ICICI Bank brings banking at your doorstep.
One of the primary functions of a bank is to grant loans. Whatever money the bank receives by
way of deposits it lends a major part of it to its customer by way of loan. Interest received on
such loans is the major source of its income. The bank makes a major contribution to the
economic development of the country by granting loans to the industrial and agriculture sector.
Home Loans
Personal Loans
Car Loans
Loans against Securities
Two Wheeler Loans
Commercial Vehicle Loans
Construction Equipment Loans
Pre-approved Loans
Flexi cash

Home Loans
The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans offers some
unbeatable benefits to its customers - Doorstep Service, Simplified Documentation and Guidance
throughout the Process. It's really easy!
Some of the other key benefits of availing of a Home Loan from us are:

➢ Attractive Interest Rates

➢ Wide range of Home Loan options to choose from
➢ Loans starting from Rs. 2 lac**
➢ Term of loan up to 20 years
➢ Wide range of approved projects to choose from

Changes in Floating Reference Rate (FRR)

Interest rate on ICICI Bank Home Loans is linked to the ICICI Bank Floating Reference Rate
(FRR/PLR). ICICI Bank FRR has been reduced by 50 basis points (i.e. 0.50%) with effect from
June 4, 2009. Thus, the FRR has been reduced from 13.25% to 12.75%. ICICI Bank PLR has
also been reduced by 50 basis points (i.e. 0.50%) with effect from June 04, 2009. Thus, the PLR
has changed from 15.25% to 14.75%.

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Accordingly, the Home Loan floating rate of interest has been reduced by 0.5% (50 basis points
Personal Loans
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, utilize the services of external service provider/s or
agent/s and on such terms as required or necessary, in relation to its products.

Car Loans

The most preferred financier for car loans in the country. Network of more than 1000 channel
partners in over 200 locations. Tie-ups with all leading automobile manufacturers to ensure the
best deals.

The Most Preferred Financier for Car Loans in India

Turn your dream into reality. Own that new car you have always desired, with a little help from
us. We offer loans up to 90% of the ex-showroom price of the car. Our interest rates would
pleasantly surprise you. What's more, you can take up to 5 years to repay the loan

Loans against Securities

A loan against Securities offers instant liquidity.

You don’t have to sell your securities. All you have to do is pledge your securities in favors of
ICICI Bank. They 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 for the time
span utilized.

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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.

Commercial Vehicle Loans

ICICI has extended products like funding of new vehicles, finance on used vehicles, top up on
existing loans, working capital loans & other banking products.

They have a range of services on existing loans, as are listed below.

➢ Reaches you through more than 120 locations across the country
➢ Range of products under one umbrella.
➢ Funding for trucks, buses, tippers, light commercial vehicles and small commercial
vehicles.
➢ Products including funding for new vehicles, finance on used vehicles and top up on
existing loans.
➢ Preferred financier status with all leading manufacturers.
➢ Simple documentation processes.
➢ Quick turn around time.
➢ Flexible financing solutions to meet individual requirements.

Construction Equipment Loans

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ICICI provide extended products like funding of new equipments, finance on used equipments,
top up on existing loans etc.

ICICI has a range of services on existing loans as well; listed below.

➢ Reaches you through more than 120 locations across the country

➢ Range of products under one umbrella.

➢ Funding for excavators, backhoe loaders, cranes, higher end construction equipments etc.

➢ Products include funding for new and used equipments. Top up on existing loans also
available.

➢ Catering to wide variety of equipments required by mine owners, road contractors and
builders.

➢ Simple documentation processes.

➢ Quick turnaround time.

➢ Flexible financing solutions to meet individual requirements.

Pre-approved Loans

Easy Loans / Credit Cards available now from ICICI Bank

Applying for a Credit Card or getting your loan sanctioned online just couldn't get any easier!
Simple application process, quick processing, and you can now do it all from the comfort of your
office or home.
Experience ICICI Bank's hassle free 24X7 Online Credit Card and Loan Application facilities.
Whether it’s that car you always wanted, a new home, or anything else you need,

Exclusive Feature:

➢ Simple online application procedure.

➢ Fast Processing.
➢ Apply from the comfort of your office or home 24 X 7.
➢ Almost zero paperwork.

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 CARDS:
➢ Credit cards
➢ Debit cards
➢ Prepaid cards
➢ Commercial 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

Page | 47
 Debit Card

HPCL Debit Card

ICICI Bank and HPCL bring you the HPCL Debit Card - a debit card designed with your
convenience in mind. Simply hand it over at any HPCL pump and save on your fuel purchases.
In fact you can use the card for all you’re shopping, dining and travelling needs; so, you spend
with total control.

ICICI Bank HPCL Debit Card Benefits:-

➢ High withdrawal limit & transaction limit :-You enjoy a per-day transaction limit of
Rs.25,000 each for ATM withdrawals as well as for POS transactions
➢ Online transactions:-You can use your ICICI Bank HPCL Debit Card on the
internet for buying travel or movie tickets, paying your bills and much more. All
you need to do is register yourself for “Verified by VISA". Online transaction
limit per day for ICICI Bank HPCL Card is Rs. 25,000.

Woman's Debit Card

A Debit Card specially designed for the woman of today!

Packed with conveniences every woman will cherish. Avail
attractive discounts for shopping, dining and more while you
continue to enjoy all the benefits that are yours with the

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ownership of an ICICI Bank Debit card.

Prepaid cards

Pay Direct Card

The Pay Direct Card is a magnetic-strip-based reloadable Prepaid Card that addresses the
concerns of an enterprise for payment of salaries, reimbursements, commissions and incentives
to its employees/associates. With this card, the cardholder can withdraw funds from ATMs and
make purchases at merchant outlets having Point of Sale (POS) machines. The card features can
be customized as per the requirements.
The Pay Direct Card is the ideal alternative to traditional payroll cheques, which also helps your
business increase efficiency and builds employee loyalty.

Meal Card

ICICI Bank is delighted to introduce the ICICI Bank Meal Card - the card that offers the ease
and convenience of providing employees with meal allowance on a card platform.

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The ICICI Bank Meal Card gives access to more than 50,000 merchant establishments across
India. This frees employees from the hassles of carrying extra cash, the correct change or
cumbersome meal vouchers. The card can be used like any debit card or credit card at any Food
& Beverage point-of-sale terminal where Visa cards are accepted.
The ICICI Bank Meal Card Programme, backed by the international reputation and extensive
network of Visa, is a user-friendly and convenient method of disbursing meal allowances to
employees on a monthly basis. Not only does it distribute meal allowances seamlessly, but with
the user-friendly Internet-based query-and-reporting tool, it also enables effective monitoring of
expenses and management of costs.

Gift Card

Designed as the perfect solution for every gifting occasion for your company, the ICICI Bank
Gift Card takes the hassle out of finding the right gift by letting the receiver himself choose
exactly what he wants. It gives gifting the personal touch that every company desires. What's
more, the Gift Card is available in any denomination of your choice, from a minimum of Rs.500
to a maximum of Rs.50, 000.
Commercial cards

Corporate Platinum & Gold Cards

The ICICI Bank Corporate Card Programme delivers greater control, enhanced efficiencies and
higher savings to your company. The program combines the power of a corporate card with on-
line reporting capabilities and dedicated account management.
Benefits:-

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 ➢ Enhanced Spends Visibility.
➢ Better tracking and compliance.
➢ Company defined Spend Limits.
➢ Management Information reporting and programme management.

Purchase Cards

ICICI Bank Purchase Card: A solution to payment needs

ICICI Bank's Corporate Purchasing Solution is designed to address the non-strategic, low value
purchases that consume 80% of a company's transaction volume. Through a Purchase Card, all
such purchases can be combined into a single cheque payment. This payment can be made to the
Bank every month.

The Purchase Card works as per the 80-20 principle. This means that it is relevant for
transactions that comprise of 20% of a company's purchases in terms of value, but due to their
frequent nature, end up as 80% of the company's transaction volume. This also means it
consumes 80% of administrative time and cost.

A company's indirect expenses, typically figures into the space mentioned below. Typical
examples of these indirect expenses are:
➢ Office supplies.
➢ Maintenance, Repair, Operation
➢ Services
➢ Air & hotel bookings
➢ Telecommunication
➢ Courier services
➢ Car rentals

The Purchase Card simplifies and streamlines all such expenses. These recurring payments are
simply made through the card during the billing cycle, and by the due date, the company makes
one single payment to the bank.

Features:-

➢ No issuing fee or annual fees.

➢ Interest free credit of up to 50 days for the corporate.
➢ Worldwide acceptance.
➢ Dedicated team to sign up your vendors.
➢ Flexible limits and controls to help manage spending and ensure compliance to company

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 policy.
➢ On line reporting tools for proactive spend management and control.
➢ Variety of billing and payment options through cheque, internet and auto-debit.

Investments

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.

GOI Bonds

8% Savings Bonds (Taxable), 2003

➢ Low risk.
➢ Reasonable investment tenure.
➢ Nomination facility available.
➢ Cannot be traded in secondary market.
➢ Interest income taxable

Mutual Funds
Mutual Funds Investments through ICICI Bank
ICICI Bank Mutual Funds services aim at helping you design the ideal portfolio for your
investment requirements. At ICICI Bank, we help you identify the appropriate mix of Mutual
Fund schemes on the basis of asset allocation strategies. Invest in various schemes of multiple
mutual funds with a satisfactory performance record and reap the benefits. Additionally, ICICI
Bank Mutual Funds services also equip you with various research reports to help you make an
informed decision.

Types of fund:
➢ Debt - Liquid schemes, Income schemes, G-sec schemes, Monthly Income Schemes, etc.

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 ➢ Equity - Diversified Equity Schemes, Sector Schemes, and Index Schemes etc.

➢ Hybrid Funds - Balanced Schemes, Special Schemes - Pension Schemes, Child

education Schemes etc.
IPO(Initial Processing Offering)
Invest in IPOs Online

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.

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, subsequently other
denominations will also be introduced.

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Why to Invest?
1) Professional Money Management and Research: Mutual funds are managed by
professional fund managers who regularly monitor market trends and economic
trends for taking investment decisions. They also have dedicated research
professionals working with them who make an in depth study of the investment
option to take an informed decision.

2) Risk Diversification: Diversification reduces risk contained in a portfolio by

spreading it. It is about not putting all the eggs in one basket. As mutual funds have
huge corpuses to invest in, one can be part of a large and well-diversified portfolio
with very little investment.

3) Convenience: With features like dematerialized account statements, easy

subscription and redemption processes, availability of NAVs and performance details
through journals, newspapers and updates and lot more; Mutual Funds are sure a
convenient way of investing.

4) Liquidity: One of the greatest advantages of Mutual Fund investment is liquidity.

Open-ended funds provide option to redeem on demand, which is extremely
beneficial especially during rising or falling Markets.

5) Reduction in Costs: Mutual funds have a pool of money that they have to invest. So
they are often involved in buying and selling of large amounts of securities that will
cost much lower than when customers invest on their own.

6) Tax Advantages: Investment in mutual funds also enjoys several tax advantages.
Dividends from Mutual Funds are tax-free in the hands of the investor (This however
depends upon changes in Finance Act). Also, capital gain accrued from mutual funds
investments for period of over one year is treated as long term capital appreciation
and is taxed at a lower rate of 10% without benefit of indexation or 20% with benefit
of indexation.

7) Other Advantages: Indian Mutual fund industry also presents several other benefits
to the investor like: transparency - as funds have to make full disclosure of
investments on a periodic basis, flexibility in terms of needs based choices, very well
regulated by SEBI with very strict compliance requirements to investor friendly
norms.

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Where to Invest?
ICICI Bank has tied up with several Mutual Funds so as to provide customers the convenience of
Varied Investment.
People have a choice to invest with the top 17 AMCs in India offering around 300 schemes.
Advantages of Mutual Funds:

The advantages of investing in a Mutual Fund are:

Professional Management
Diversification
Convenient Administration
Return Potential
Low Costs
Liquidity
Transparency
Flexibility
Choice of schemes
Tax benefits
Well regulated

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 Insurance

LIFE INSURANCE:

Investment and Saving Plans

Endowment policies are a good way of putting aside the savings today for a future goal - whether
it's to buy a house in India or fund the entrepreneurial vision. ICICI’s savings-oriented policies
are designed to make the savings grow and have them available to the customers at the end of a
fixed number of years or through the term of the plan.

Life Time II

Presenting Life Time & Life Time II – unit –linked plans that meets the changing needs over a
lifetime. These solutions have been developed to meet the savings, protection and investment
needs at every stage in life.

Protection:
➢ Choose a specified level of protection (available only with Lifetime).
➢ Two levels of Sum Assured to choose from (available only with Lifetime II).
➢ Flexibility to increase or decrease the sum assured.
➢ Add-on riders to protect clients against any eventuality.
Saving:

➢ Flexibility to increase or decrease your contribution.

➢ Facility of Premium Holiday, wherein the policy continues even if there is a temporary
break in the payment of annual contribution (available only with Lifetime).
Facility of Automatic Cover Continuance, wherein the policy continues even if there is a
temporary break in the payment of annual contribution (available only with LifeTime II).
➢ Facility to top-up the investment any time customers have surplus funds.
Additional allocation of units on a periodic basis.
➢ Loans against the policy.

Investment:

➢ Choose from among four funds, based on the investment objective and risk appetite.
➢ Choice to switch between investments options (4 free switches every policy year).

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 Invest shield Gold
➢ A unit-linked insurance plan with an assurance of Capital Guarantee, which offers the
benefit of a limited premium payment term. An ideal plan for protection with wealth
creation that offers the flexibility of a limited premium paying term.
– Flexibility to choose a premium payment term of 5, 7 or 10 years for a maturity
term of 10, 15 or 20 years respectively.
➢ -Flexibility to choose a specific level of protection (Sum Assured), based on a multiple of
the annual premium.
– At the end of the term (maturity), the higher of the value of units or the
guaranteed value* is paid. On death, Sum Assured along with the higher of value
of units or the guaranteed value is payable.
– Additional credits payable as a percentage of the initial annual premium are paid
along with the death or maturity benefit.
– Facility to make withdrawals from the 6th policy year onwards till the end of the
policy term. Every year withdraw up to 10% of the value of units.
– Flexibility to make additional investment with the help of the top-up facility.
– Flexibility to increase / decrease the annual premium amount

Premier Life:

The key features of the plan are:

➢ Limited premium payment option: Choose from among a 3, 5, 7 or 10 year premium

paying term.
➢ Choice of sum assured: Choose a sum assured, which is a minimum multiple of 1 and a
maximum multiple of 25 times the annual contribution.
➢ Additional allocation of units on a periodic basis.
➢ Facility to top-up the investment any time customers have surplus funds.
➢ Choose from among four funds, based on the investment objective and risk appetite.
➢ Choice to switch between investments options (4 free switches every policy year).
➢ Flexibility to decrease the sum assured.
➢ Add-on riders to protect against any eventuality.
➢ Loans against the policy.

Retirement Plans

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Many of the customers picture themselves enjoying the fruits of their labor after retirement -
going on a dream vacation, or helping our child's career take wing. Financing all this will depend
on their personal savings and investments, so it’s important to save for the future from today.
These retirement plans are designed to help customers systematically save, so that they can enjoy
all the things they have dreamed of when they retire.

Life Time Pension-II

Life Time Pension II gives the freedom to choose the amount of premium, and invest in market-
linked funds, to generate potentially higher returns. On the future retirement date, the
accumulated value of the units will be used to purchase an annuity - to provide clients with
regular income for life.

Power to choose the protection level: Choose from either a Zero sum assured or a sum assured,
which will be equal to the product of annual contribution and term.

Power to choose the retirement date: Take advantage of market movements by choosing a
vesting age between 45 - 75 years of age.

Power to increase your investments: Use your surplus funds to top-up the investments during
the deferment period.

Power to invest in a plan based on the priorities: Choose from among four funds, based on
investment objective and risk appetite. If at a later stage the financial priorities change, clients
can switch between the various fund options, absolutely free, 4 times a year.

Power to increase / decrease your contribution: Based on the requirements, increase or decrease
the contribution.
Child Plans

As a responsible parent, people want to ensure a hassle-free, successful life for their child.
However, life is full of uncertainties and even the best-laid plans can go wrong. Smart Kid
Education Plans are designed to provide flexibility and to safeguard the child's future education
and lifestyle, taking all possibilities into account. Smart Kid Child Plans has a bouquet of three
products which can help the clients secure their child's education.

➢ Unit-linked Regular Premium.

➢ Unit-linked Single Premium.
➢ Regular Premium Smart Kid

GENERAL INSURANCE

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 Rishtey Health Insurance - For the parents and other family members in India 2 Years
comprehensive medical cover for family
➢ Advanced treatment covering technologically advanced surgeries
➢ Re-imbursement of return Air Fare
➢ Nursing care benefit and free health checkups with 'Cashless' benefit

Overseas Travel Insurance - For the parents and other family members visiting abroad
➢ Covers both structure and contents of home:-
Provides protection against natural and manmade calamities.
Protection against fire, burglary, gas cylinder, seepage etc.
Avail 25% discount on 5 year and 15% discount on 3 year policy.

Car Insurance- for the four-wheelers in India

Transfer no claim bonus (NCB)

Cashless claims facility

No Documentation. Instant Policy issuance also covers PA and third party legal liability

Two-wheeler Insurance - for the two-wheeler in India

No documentation. Instant policy issuance

Effective cover against theft and insurance.

Guaranteed safety for yourself and your two wheeler.

Lightening fast claims service No documentation. Instant policy issuance.

Effective cover against theft and insurance.

Guaranteed safety for client & its two wheeler.

Lightening fast claims service.

Student Medical Insurance - for staying abroad during studies

Pay in Rupees, save in Dollars

Plan meets foreign universities insurance requirements

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 No documentation. No health check-up. Instant policy issuance
Policy is renewable for the second year

Home Safe+ Insurance- for the most prized possession, Home

➢ Secure home and the loan against it
➢ Loan Liability cover exclusive to ICICI Bank Home Loan customers
Critical Illness, Accidental Death and Disablement Benefit
Protect Home - Structure

Wealth Management

Wealth is the result of a recognized opportunity. ICICI bank understands this and they work with
customers to plan and manage their financial opportunities prudently. Not just that, the bank also
extends a host of services so that customers can remain focused on immediate objectives while
the bank takes care of all the wealth management requirements.

TEAM:

A perfect partnership is about similar perspectives

Goals, challenges, milestones. What drives customers drives ICICI too. That' s why the bank
have put together a team of determined and seasoned professionals who not just assist customers
in their requirements, but also partner closely in the growth to bring the dreams to fruition.

Dedicated Wealth Manager

A dedicated Wealth Manager is central to an ICICI Bank Wealth Management relationship and
is the face of the Bank. In fact he/she will be customer’s personal guide to the possibilities of
Wealth Management, and will work closely with clients in achieving their financial goals.
Customers will also have access to a Customer Service Manager/Officer, who will complement
their Wealth Manager.
Expert minds to give expert solutions

The Wealth Manager is only a part of the larger team which ensures that the money works
harder. Working silently behind the scenes is a team of product experts. These handpicked

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experts have a wealth of financial experience under their belt and will assist customers in their
decision-making process.

PORTFOLIO BUILDING:

The investment process starts with understanding customer – their background, investment
objectives, risk tolerance and existing investment pattern. A comprehensive Client profiling
exercise helps the bank in evaluating customer’s risk appetite and understanding their investment
objectives, which are kept in mind while building their portfolio.

Investment Planning

Based on the customer’s investment goal, wealth requirements, investment horizon and risk
profile, the bank construct a suitable asset allocation plan for the clients. During this exercise, the
bank also evaluates and realigns their existing investments as per the suggested asset allocation,
in case required by the customers.

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 Portfolio Construction

From the wide range of investment avenues, the bank construct appropriate solutions to
implement client’s investment plan and evolve a tailor-made portfolio for the specific
requirements. This would involve execution of investments in debt, equity, structured products
or alternative asset classes as per the suggested asset allocation.

Portfolio Maintenance

The bank monitors customer’s investments and periodically suggests rebalancing in the portfolio
for maintaining the asset allocation or aligning their portfolio to changes in macro-economic
factors that might affect the investments.

Portfolio Review

As the customer’s investment preferences or financial goals change over a period of time, the
banks review their portfolio periodically with the clients to discuss and implement any changes
in asset allocation or portfolio strategy. All with a view to keeping the portfolio healthy at all
times.

Products:

Online Trading
Mutual Funds
Life & General Insurance

Page | 62
 Chapter-5

SURVEY ANALYSIS & INTERPRETATION

Introduction

Survey Analysis

Page | 63
 SURVEY ANALYSIS & INTERPRETATION
Introduction:

The survey has helped to secure relevant facts and opinions from respondents in the
sample survey. The survey was conducted among 200 respondents and information was
gathered by administering structures questionnaire.

The analysis is made with help of information gathered from questionnaire. The collected
information is fairly summarized and tabulated below:-

Analysis of survey:-

Table1

1. Classification of the respondents on the basis of sex

sex No. of respondents Percentage

Male 168 84
Female 32 16
Total 200 100
Source: survey

From the above table it is clear that, out of 200 respondents, 168 are male respondents & 32 are
female respondents.

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 Table 2

The table showing classification of respondents on the basis of age

Age in years Male Female Total no... of percentage

respondents
below 25 28 04 32 16
25-35 31 13 44 22
35-45 39 13 52 26
45 & above 70 02 72 36
Total 168 32 200 100
Source: survey

The above table shows that out of 200 respondents, 16 % of respondents age is below 25 years,
there are 28 male respondents & 4 female respondents, 22% of respondents age is between 25-35
years. Out of which 44 respondents 31 are male & 13 respondent is female, 26% of respondents
belongs to the age group 35-45 years out of them 39 respondents are male & 13 respondents are
female . 36% of respondents belong to the age group 45y& above, in which there are 70 male
respondents & 02 female respondents.

Table 3

The table shows the qualification of customers.

Qualification Male Female Total no.. of Percentage

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 respondents
Under graduate 42 02 44 22
Graduate 64 20 84 42
Post graduate 50 10 60 30
Others 12 00 12 6
Total 168 32 200 100
Source: survey

From the above table it is clear that out of 200 respondents, 22% of the respondents belongs to
under graduate, there are 42 male respondents & 2 female respondents, 42% of respondents
belongs to graduate, out of which 64 are male & 20 are female, 30% of respondents belong to
post graduate &out of which 50 are male respondents, & 10 are female respondents & 6% of
respondents belongs to others, out of which 12 are male & non of them female.

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 Table 4
The table shows the occupation of respondents.

Occupation Male Female No. of percentage

respondents
Business 44 02 48 24
Employees 12 20 32 16
Students 16 08 24 12
Professional 54 02 56 28
Agriculture & others 40 00 40 20
total 168 32 200 100
Source: survey

The above table reveals the occupation of the respondents. Out of 200 respondents 24% of
respondents are Businessmen out of which 44 male respondents& 02 female respondents, 16%
of respondents are employees out of them 12 male respondents & 20 female respondents , 12%
of the respondents are students all of them 16 are males and 08 are female, 28% of respondents
are professional the majority 54 are males & 02 female respondents & 20% of respondents are
belongs to agriculture & others category out of them 08 male respondents & 00 female
respondents .like (retired people house wife’s)

Table 5
Classification Of Respondents On The Basis Of Monthly Income

Monthly income Male Female NO... of Percentage

in Rs Respondents
Below 10000 78 02 80 40

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 10000-30000 08 20 28 14
30000-50000 62 10 72 36
Above 50000 20 00 20 10
Total 168 32 200 100
Source: survey

This table classifies the respondents based on monthly income. Of the 40% of respondents
belongs to the income group below Rs.10000 there are 78 male respondents & 02 female
respondents, 14%of respondents income is between Rs. 10000 to Rs. 30000, out of which 08
respondents are male and 20 respondents are female. 36% of respondent’s belongs to the income
group of Rs.30000 to Rs. 50000, out of which 62 respondents are male, & 10 respondent is
female and 10% of respondents belong to the income group above Rs. 50000 all of them are
males.

Table 6
The table below shows the type of account held by respondents

Type of Account Male Female No... of respondents %

Savings A/c 103 10 116 58
Current A/c 00 00 00 00
Fixed deposit A/c 24 12 36 18
Savings & current A/c 38 10 48 24
Total 168 32 200 100
Source: survey

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From the above table is found that, out of 200 respondents, 58% of respondents have savings
a/c, there are 103 male respondents, & 10 female respondents, 24% of respondents have both
current a/c & savings a/c out of which 14 respondents are male & 4 respondents are female.18%
of respondents are belongs to fixed deposits a/c. out of them 38 respondents are male, & 10
respondent is female. There is no only current a/c holder in respondents.

Table 7

The below table shows the awareness about value added services.

VAS Male Female No... of %

respondents
Yes 154 10 164 82
No 14 22 36 18
Total 168 32 200 100
Source: survey

Out of 200 respondents 82 % of the respondents are aware of VAS, out of which 154 are male
respondents & 10 are female respondents, 18% of the respondents are unaware of vas, out of
which 14 are male respondents & 22 are female respondents.

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 Table 08

The below table showing the usage of value added services by respondents.

VAS Male Female No... of Percentage

respondents
ATM 92 20 112 56
Any branch banking 14 02 16 08
Credit cards 20 00 20 10
Electronic fund transfer 12 00 12 06
Internet banking 30 10 40 20
Demat 00 00 00 00
Total 168 32 200 100
Source: survey

From the above table is found that out of 200 respondents, 56% of respondents using ATM
service, there are 92 male respondents & 20 female respondents, 08% respondents are using any
branch banking, out of which 14 respondents are male & 02 respondents is female. 10%
respondents are using credit cards out of them 20 respondents are male & none of them are
female. 06% respondents are using electronic fund transfer, out of them 12 respondents are male
& none of them are female , 20% of respondents using internet banking out of which 30
respondents are male & 10 respondents are female . Out of 50 respondents none of them Demat
users.

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 Table 9
The below table shows the awareness about the “INTERNET BANKING” among
respondents.

Internet banking Male Female No... of respondents percentage

Yes 65 27 92 46
No 103 05 108 54
Total 168 32 200 100
Source: survey

Out of 200 respondents 46% of respondents, who are aware of internet banking service out of
which 65 respondents are male & 27 respondents are female, 54% of the respondent are unaware
of internet banking service out of them 65 respondents are male & 103 respondents are female.

Table 10

This table shows about internet banking service reason for not using.

Reason Male Female No... of Percentage

respondents
Lack of knowledge 148 07 155 77.5
Lack of time 08 18 20 10

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Complex procedure 25 00 25 12.5
Total 35 32 200 100
Source: survey

Out of 200 respondents who are not aware of internet banking services, 77.5% are not aware due
to lack of knowledge out of which, 148 are male respondents & 07 are female respondents, 10%
are not aware due to lack of time, out of which 08 respondents are male & 18 respondents are
female, 12.5% are not aware due to complex procedure out of which, 25 are male respondents&
none of them female respondents.

TABLE 11

The table shows the customer satisfaction towards the banking service.

Particular Male Female No. of respondents Percentage

Yes 140 20 160 80
No 28 12 40 20
Total 168 32 200 100
Source: survey

Out of 200 respondents, 80% of the respondents are satisfied with banking services, out of which
140 are male respondents & 20 are female respondents & 20% of the respondents are not

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satisfied with banking services. Out of which 28 are male respondents& 12 are female
respondents.

Table 12

The table showing good opinion from respondent regarding the concept of ICICI
bank.

Concept of ICICI Male Female No of respondents percentage

Brand 54 02 56 28
Service without mistake 14 10 24 12
Cost effective 14 10 24 12
Quick service 86 10 96 48
total 168 32 200 100
Source: survey

Out of 200 respondents 28% opined that the brand concept of ICICI is good, out of which 54 are
male & 2 are female, 12% are of the good opinion regarding service without mistake. Out of
which 14 are male & 10 is female, 12% are of the good opinion regarding cost effective, out of
which 14 are male & 10 is female respondent, 48% are of the respondents good opinion
regarding quick service, out of which 86 are male & 10 are female.

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 Chapter-6

SUMMARY OF FINDINGS

RECOMMENDATIONS & CONCLUSION

Major Findings

Recommendations

Suggestions

Conclusion

Page | 74
 Findings & Suggestions
Major Findings:-
It is revealed by survey that bank failed to attract the young generation .i.e. Below 25
years age customer.
From the survey it is found that, majority of the customer are from business category.
This has been clearly identify by the information obtained by the account holders while
survey. ICICI bank fails to reach most of the government employees.
From the survey it is clear that 84 % of the customers are having the awareness about the
value added services & the banker succeed fulfill the needs of customers. But in some
cases the procedure itself has become problem. It is found that the customers are fed of
complex procedure & lack of knowledge.
Even the banker fails to meet 18% of the customers who are not aware of value added
service provided by bank.
It is revealed from the survey that only 6 % & 20% customer are using fund transferring
& internet banking respectively.
From the survey, we the researcher came to know that 46% of the customers are having
awareness about internet banking & 54% of the customers are not having the awareness
about the internet banking. 31 respondents are suffered from lack of knowledge about
internet banking.
From the survey it is clear that 80% of the respondents are satisfied with the bank service
& the value added services. The remaining 20% of the respondents are not satisfies with
the bank service & with value added services.
Services as promised by the agents are not delivered either on time or not at all provided.

In order to get better pay, the agents of ICICI Bank usually give false promises to their
customers regarding the quality of service or new schemes so as to lure them. In such cases the
final loser is not just the customers but the ICICI Group as whole as it affects all their businesses.

Page | 75
Recommendations / suggestion:-
i. A Major revamp of its Customer care.

A complete over hauling of its customer care department is required so as to reduce

complaints of customer in turn which may affect its working.

ii. Introduction of Smart Cards for New as well as Old Credit Card Holders.

ICICI Bank should come up with the concept of smart cards were the data regarding all
the accounts & credit cards details of a individual customer is placed in a single cards
hence reducing the burden of carrying all credit cards & other necessary items required
for banking transaction.

iii. Concentrate on Building Brand Image.

ICICI Bank is very well known institution for investing purposes and as well as for its
practices involving anti – social elements; therein affecting its name and Brand value of
its self and also ICICI group as a whole.

iv. Completely separation of other alike Businesses like Insurance, Mutual Funds etc.

It is usually seen the ICICI Bank branches are over crowded with ICICI staff though they
don’t belong to that branch or does not even belong to the ICICI Bank, they usually are
the agents of its other businesses like Insurance, Mutual funds etc – this annoys the
customer and creates a bad impression.

v. Major re-look at working of their Agents.

The easiest way to reach to customers is through agents; and the agents of ICICI Bank
are highly skilled in this field but they do it at the cost of customer’s innocence. There are
many incidences where in the information provided by the agents is false. It’s time for
ICICI Bank to look into the matter and rework on its agents policies.

vi. Reduction of Penalty Fees & Special Service Fees.

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 The penalties & special service imposed by ICICI Bank is very high as compared to
public sector banks; this sometimes adds a negative perspective to ICICI Bank.

ICICI bank offers the customer excellent & value added benefits. It offers deposits or fixed
deposits that offer an attractive customer opportunity for money. Marketing efforts put by ICICI
are laudable. Following points may be term into consideration to generate customer’s mare
interest in sales of various products of ICICI hence:

1. for saving accounts

In saving accounts the minimum balance to be maintained quarterly is Rs. 5,000 which
should be decreased somewhat for the convenience of customer.

2. For Bank@campus
In the bank@campus minimum balance to be maintained quarterly is Rs. 500 which should
be decreased some what for the convenience of students.

3. Salary accounts
In the salary account the salary of the employees should be deposited on 1st and 2nd of the
month instead of in the mid of month.

4. Awareness Programmers’ :
To make customers fully aware about all the services of bank awareness programmers
should be started so that they may utilize them fully.

More and more people should be induced mobile banking and internet banking.

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Conclusion:-

ICICI bank is a multinational company. The company has high goals and objectives. The
company made sincere efforts to achieve its goals and objectives over the years. ICICI bank has
variety of product.

The company can grow at a higher pace and contribute to the economy growth of the company.
The company has a sound financial position. It has wide branches and ATM’s all over the
country. Lastly its overall performance is good.

The environment in this bank is very friendly the manager & staff members are very helpful and
the communication is very effective, they are friendly in nature.

It is a prestigious financial institution in the country catering to a wide array of customers needs
like.

➢ Credit card
➢ Auto and two wheeler loans
➢ Personal loans
➢ Consumer durable loans
➢ Commercial loans
➢ Life and non life insurance
➢ Online trading

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ICICI also offers a suit of products and services designed specially for various organizations.
This package of facilities is not available to general customer of the bank and has been designed
specifically keeping their needs in mind.

On the basis of data collected from customers and its analysis and interpretation following
conclusion can be drawn:

➢ Most of the customers are partly aware of all the services and schemes of ICICI.

➢ More than half of the customers are not satisfied with the balance which is to be
maintained quarterly in saving accounts and bank@ campus.
➢ Customers are not aware of the mobile banking and most of them don't use it.
➢ The reasons behind dissatisfaction of the customers are some times:
➢ Query handling and Balance to be maintained

Chapter-7

ANNEXURE

Questionnaire
Bibliography
Response Sheet

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 QUESTIONNAIRE
Dear Sir/Madam

I am the student of VI Trimester MBA, The Indian Institute of Planning

and Management- Mumbai as a part of our curriculum I have undertaken a
project work entitled “CUSTOMER ATTITUDE TOWARDS FINANCIAL
SERVICES PROVIDED BY ICICI BANK” with special reference to ICICI
Bank.

I request you to spare few minutes to answer the following questions.

Mohammed Miqdaad Rizvi

Thanking you Yours Faithfully

1. Name: ………………………………………………………………….
2. Address: ………………………………………………………………..

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 ………………………………………………………………..
……………………………………………………………….
Mobile no. ……………………………………………………………….
3. Sex:
Male Female

4. Age
Below 25 yrs 25-35
35-45 45 & above

5. Qualification
Under graduates Graduate
Post graduate
If others, specify …………………………………………

6. Occupation
Business Profession
Employee Agriculture
Student
If others, specify………………………………………..

7. Annual income

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 Below 10,000 10,000-30,000
30,000-50,000 Above 50,000

8. Which type of bank account do you have?

Savings A/C Fixed deposit A/C
Current A/C Savings & current A/C

9. Since how many years you are operating bank account?

Below 1 years above 3 years
Between 3 to 5 years above 5 years
10. Have you ever heard about “Value Added Service” in your bank?
Yes No

11. Which of the following “value added service “do you use?
ATM Electronic fund transfer
Any branch banking Internet banking
Credit cards Demat

12. Do you know about internet banking?

Yes No

13. Reasons for not using internet banking service?

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 Lack of knowledge complex procedure
Lack of time

14. According to you which concept of this bank is good?

Brand Cost effective
Service without mistake quick service

15. Are you satisfied with the service provided by bank, if not reason?
Yes No
If not, specify reason…………………………………………………
………………………………………………………………………..
16. What is your opinion about services provided by ICICI BANK?
………………………………………………………………………….
…………………………………………………………………………..

17. Do you get any complaint regarding ICICI product. If yes mention the
complaint?
Yes No
If yes mention …………………………………………………………….

Thank you
Date:…………….

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Place: MUMBAI Signature

BIBLIOGRAPHY

Books referred:-
Banking theory & practice - B.S.RAMAN

Banking theory - K.D.BASAVA

Websites:-
www.icicibank.com
www.wikipedia.com
www.moneycontrol.com

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 Others:-
Bank Brochures

Response Sheets

Response sheet no- 1

Name- Mohammed Miqdaad Rizvi

ID NO- IIPM/ MUM/ 08-10/FW/ 10057/INT

Questionnaire: - In progress; will be given in the next response.

Date the guided was consulted: - 15th March, 2010

Outcome of the discussion:-

➢ Had a detailed discussion to what/ how is being done.

➢ To collect information related to the topic.

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Progress of the thesis:-

➢ Collecting more articles relating to this topic and forming a questionnaire.

Response sheet no- 2

Name- Mohammed Miqdaad Rizvi

ID NO- IIPM/ MUM/ 08-10/FW/ 10057/INT

Questionnaire: - Are ready but Sir said to make some changes

Date the guided was consulted: - 17th April, 2010

Outcome of the discussion:-

➢ The changes that has to be made in the questionnaire.

Progress of the thesis:-

➢ Forming the final Questionnaire.

Response sheet no- 3

Name- Mohammed Miqdaad Rizvi

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ID NO- IIPM/ MUM/ 08-10/FW/ 10057/INT

Questionnaire: -

Agent Questionnaire

1. Which type of bank account do you have?

Savings A/C Fixed deposit A/C

Current A/C Savings & current A/C

2.. Since how many years you are operating bank account?

Below 1 years above 3 years

Between 3 to 5 years above 5 years

3. Have you ever heard about “Value Added Service” in your bank?

Yes No

4. Which of the following “value added service “do you use?

ATM Electronic fund transfer

Any branch banking Internet banking

Credit cards Demat

5. Do you know about internet banking?

Yes No

6. Reasons for not using internet banking service?

Lack of knowledge complex procedure

Lack of time

7. According to you which concept of this bank is good?

Brand Cost effective

Service without mistake quick service

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8. Are you satisfied with the service provided by bank, if not reason?

Yes No

If not, specify reason…………………………………………………

………………………………………………………………………..

9. What is your opinion about services provided by ICICI BANK?

………………………………………………………………………….

…………………………………………………………………………..

10. Do you get any complaint regarding ICICI product. If yes mention the
complaint?

Yes No

If yes mention …………………………………………………………….

Date the guided was consulted: - 8th May, 2010

Outcome of the discussion:-

➢ The final Questionnaire was approved.

Progress of the thesis:-

➢ Will start taking interviews related to my topic.

Response sheet no- 4

Name- Mohammed Miqdaad Rizvi

ID NO- IIPM/ MUM/ 08-10/FW/ 10057/INT

Questionnaire: - As given in the 3rd response sheet

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Date the guided was consulted: - 20th May, 2010

Outcome of the discussion:-

➢ The final questionnaire is ready and approved

➢ I have started taking interviews in organizations.

Progress of the thesis:-

➢ Collecting more articles related to topic and putting them together.

Response sheet no- 5

Name- Mohammed Miqdaad Rizvi

ID NO- IIPM/ MUM/ 08-10/FW/ 10057/INT

Questionnaire: - As given in the 3rd response sheet

Date the guided was consulted: - 1st July, 2010

Outcome of the discussion:-

➢ The Interview was taken and I am starting with the analysis.

➢ Project is on track

Progress of the thesis: - The Final project report is in progress.

Response sheet no- 6

Name- Mohammed Miqdaad Rizvi

ID NO- IIPM/ MUM/ 08-10/FW/ 10057/INT

Questionnaire: - As given in the 3rd response sheet

Date the guided was consulted: - 20th July, 2010

Outcome of the discussion:-

➢ The Analysis is done/

➢ The final copy is ready and approved by Sir.

Progress of the thesis:-

➢ The Final project report printing is to be done.

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