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 Table of Content

CHAPTER PARTICULARS PAGE

No. No.
Acknowledgement 10-11

Executive Summary 12-14

Objective 15
Research Methodology 16
1 Overview of Industry 17-30
2 About ICICI 31-41
3 Operations & Product Features 42-117
The 5 ‘S’ Philosophy 118-127
Retail Business Development (RBD) 128-142
Bank@Home 143-154
Corporate Boxes 155-156
4 Analysis and Findings
Frequency of foot fall at the branch 158
Distance of branch from Home/Office 159
Major issues for visiting the branch 160
Comfort level of carrying out transactions from 161
home
Awareness of Bank@home service 162
Awareness that Bank@home is a free service 163
Enrollment status 164
Enroll now 165
5 Conclusion and Recommendation
Conclusion 166-168
Awareness Promotion Strategies Recommended 169-170
Innovative Promotional Strategies Recommended 171-172
Pamphlet Proposed and Implemented 173-175
Proposed Locations for installing Drop boxes 176-177
Suggestions 178-179
Appendices 180
 ACKNOWLEDGEMENT
LETTER

ACKNOWLEDGEMENT
On the successful completion of this project I would like to express gratitude
to all the people who have helped me in completion of this project. I wish to extend
my deep and sincere gratitude to Ms.Mallika Gupta , Mr.Himashu Puri and
Mr.Rishi Khandelwal to take out time from their busy schedules to provide me
with their able guidance at the time of need and who also helped me whole
heartedly to achieve the ultimate goal of the study. I would also like thank Ms.
Neelu Gupta and Ms. Rashmi Srivastav for providing me guidance for
understanding the operations of the Bank.

I would especially like to thank Mr.Sandeep Singh Sandhu Retail Manager Branch
Banking, Mr. Rahul Krishnatrey Branch Manager Connaught Place branch, Mr.
Vikas Kukereja Branch Operation Manager Connaught Place branch who gave me
this opportunity to work with the second largest bank of India ICICI and at their
very first branch located at Connaught Place, New Delhi.

Finally would like to express my gratitude to Dr. M.S.Verma, Prof. Nitin Seth,
Jagan Institute of Management Studies and its faculty for providing me with this
learning opportunity.
 EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

The main object of the project was to learn about the various products that the bank
had to offer to the customers, learn about the latest 5 ‘S’ Philosophy that the bank
has implemented, also learn the Retail Business Development Model that is
basically a new dimension of selling product to customers, analyze the awareness
of the Bank@home service with existing customers, educate them regarding the
same and motivate them to enroll for the service and also try to assess why the
customers are resisting to use the service and finally encourage corporate
organizations that maintain their salary accounts with the bank to get a corporate
box installed in their office premises.

In order to understand and analyze the awareness of Bank@home service a

questionnaire was prepared and the focus was on the walk inns at the branch that
already are customers of the bank. The idea was to analyze the various issues as
mentioned above. The analysis showed that many of the existing customers who
live even far off from the branch have high frequency of visits to the branch. The
analysis also clearly showed that the awareness regarding the service was
extremely low. The Bank had to promote the service in order to reach out to the
customers and make its presence felt. Observation also indicated that the foot falls
at the Connaught Place branch actually come from almost all parts of the city
irrespective of the relationship the customers have with the branches through out
the city, making the task even more difficult the drop boxes throughout the city
have not been strategically been placed there various locations that do not have the
drop boxes but there is high number of foot fall from the area. Also this lead to the
understanding that the policy to install drop boxes in areas is very faulty and the
corporate office must look into the matter. For awareness of the service I gave
awareness strategies, Promotional strategies, Pamphlet to educate customers
regarding the service, places where the drop boxes should be placed, and some
suggestions to overcome the problem.

For Corporate Boxes the task was straight forward but tricky to handle, A list of
organizations that had salary account relationship with the Connaught Place branch
was given, The idea was to visit the organizations meet the person concerned and
explain to him in the most professional manner the function of the Corporate box
and its advantage to the employees, get a set of documents signed that had details
regarding the service and a letter that indicates that the organization is willing to
accept the Corporate box, and then finally spend time with each employee of the
organization for educating g them regarding the service and then enrolling them for
the same. I was able to convince 5 organizations to install a corporate box and give
leads of concerned person of 3 organizations however they required a senior
person visiting them, and was unable to appointment with 2 organizations from a
list of 10 organizations that I had to cover.

For my task of learning the various products and their features I was guided by the
executives at the bank a lot of observation went in and sufficient data form the
internet was used to understand the products. The 5 ‘S’ Philosophy which is only
for the employees of the bank was available to me through observation, guidance
of superior employees. The task of understanding the RBD model was fully
through the humble guidance of Mr.Rishi Khandelwal Regional Sales Manager.
The RBD model of sales has high significance as the scope of banking products is
expanding.

OBJECTIVE
1. To gain knowledge of the various products and their features
through observation method and through secondary data

2. To understand daily operations of the bank

3. To learn Retail Business Development Model

4. Bank@Home
• Understand the process of Bank@Home
• Find out the awareness of the service
• Motivate customers to enroll for the service
• Develop ideas for awareness
• Develop promotional strategies for the service
• Places to put drop boxes
• Find out drawbacks of the service
• Motivate organizations to put up corporate boxes
 5. To convince organizations to install Corporate Boxes in their
primises and explain to them the advantages and the functioning of
the same and get the employees enrolled for the same

RESEARCH
METHODOLOGY

Secondary Data:

Was collected from internet and intranet within the company for

• Understanding the product and the features .

• Understanding the functioning of Bank@home.
• Obtaining the documents for Corporate Boxes.
• Information collected form guidance of superior managers to understand
the RBD process
Primary Data:

The data consisted of

• Information collected with the help of Questionnaire for analyzing

Bank@home service. Sample size of which was 200 existing
customers. Personal interview was done with the walk ins.
• Observation method was used for understanding various products and
their features and understanding the 5 ’S’ Philosophy

Limitations:

• Paucity of time
• Concentrating on the happenings on specific branch and not on the
bank policies on a whole

CHAPTER 1
OVER-VIEW OF THE
INDUSTRY
 INTRODUCTION TO THE INDUSTRY

The banking sector reforms undertaken in Indiafrom 1992 onwards were

basically aimed at ensuring the safety and soundness of financial
institutions and at the same time at making the banking system strong,
efficient, functionally diverse and competitive. The reforms included
measures for arresting the decline in productivity, efficiency and
profitability of the banking sector. Furthermore, it was recognized that
the Indian banking system should be in tune with international
standards of capital adequacy, prudential regulations, and accounting
and disclosure standards. Financial soundness and consistent supervisory
practices, as evident in our level of compliance with the Basel
Committee.s Core
Principles for Effective Banking Supervision, have made our banking
system resilient to global shocks.

India has not faced any major economic/financial crises, though in 1990-
91, there was some pressure on the external sector with the current
account deficit and external debt servicing reaching large
proportions. However, due to prudent macroeconomic policies, it was
possible to return the country to a sustainable growth path. As well as
the long history of regulation and supervision, Indian banks have limited
exposure to sensitive sectors such as real estate, equity, etc, strict
control over off-balance sheet activities, larger holdings of government
bonds (which helps limit credit risk), relatively well- diversified
credit portfolios, statutory restrictions on connected lending, adequate
control over currency and maturity mismatches, etc, which has insulated
them from the adverse impact of financial crisis and contagion. Banks
in Indiahave played a significant role in the development of the
Indian economy.
However, with the structural reforms initiated in the real economy
from the early 1990s, it was imperative that a vibrant and competitive
financial system should be put in place to sustain the ongoing process
of reforms in the real sector.
The financial sector reforms have provided the necessary platform for
the banking sector to operate on the basis of operational flexibility and
functional autonomy, thereby enhancing efficiency, productivity and
profitability. The reforms also brought about structural changes in the
financial sector andsucceeded in easing external constraints on its
operation, introducing transparency in reporting procedures,
restructuring and recapitalising banks and enhancing the competitive
element in the market through the entry of new banks. The ongoing
revolution in information and communication technology has, however,
largely bypassed the Indian banking system given the low initial level
of automation. The competitive environment created by financial sector
reforms has nonetheless compelled the banks to gradually adopt
modern technology, albeit to a limited extent, to maintain their market
share. Banks continue to bethe major financial intermediaries with a
share of 64% of total financial assets. However, non-bank financial
companies and developmentfinance institutions are
also emerging as alternative sources of funding. In India, foreign banks
account for only around 8% of the total assets of the banking system.
Further, domestic households are not allowed to place deposits abroad.
Similarly, conditions for accessingoverseas capital markets by domestic
corporates have been stringent, in terms of size, maturity, pricing, etc.
The impact of the entry of foreign banks on domestic banks is likely to
depend on various factors such as the structure, strength and
competitiveness of domestic banks, the share of foreign banks, and
the regulatory/supervisory framework. While the entry of foreign
banks could definitely improve the competitive environment, they are
not likely to weaken domestic banks. With better
technologyand expertise in offering specialised banking products such
as derivatives, advisory
services, trade finance, etc, the entry of foreign banks can enhance
healthy competition and has a positive spillover effect on the domestic
banks. The domestic banks would be under peer pressure to improve
operational efficiency. It needs, however, to be recognised that the
banking system in India is quite competitive with the presence of public,
private and foreign banks. Thus, the major forces for change in the
Indian context have been the following:
- consistent and strong regulatory and supervisory framework;
- structural reforms in the real and financial sectors;
- commitmentto adopt and refine regulatory and supervisory standards
on a par with international best practices; and
-competition from foreign banks and new-generation private sector
banks.

In India the banks are being segregated in different groups. Each group has their
own benefits and limitations in operating in India. Each has their own dedicated
target market. Few of them only work in rural sector while others in both rural as
well as urban. Many even are only catering in cities. Some are of Indian origin and
some are foreign players.
Among the Public Sector Banks in India, United Bank of India is one of the 14
major banks which were nationalised on July 19, 1969. Its predecessor, in the
Public Sector Banks, the United Bank of India Ltd., was formed in 1950 with the
amalgamation of four banks viz. Comilla Banking Corporation Ltd. (1914), Bengal
Central Bank Ltd. (1918), Comilla Union Bank Ltd. (1922) and Hooghly Bank
Ltd. (1932).

Oriental Bank of Commerce (OBC), a Governmet of India Undertaking offers

Domestic, NRI and Commercial banking services. OBC is implementing a
GRAMEEN PROJECT in Dehradun District (UP) and Hanumangarh District
(Raiasthan) disbursing small loans. This Public Secotor Bank India has
implemented 14 point action plan for strengthening of credit delivery to women
and has designated 5 branches as specialized branches for women entrepreneurs

Private banking in India was practiced since the begining of banking system in
India. The first private bank in India to be set up in Private Sector Banks in India
was IndusInd Bank. It is one of the fastest growing Bank Private Sector Banks in
India. IDBI ranks the tength largest development bank in the world as Private
Banks in India and has promoted a world class institutions in India.

The first Private Bank in India to receive an in principle approval from the Reserve
Bank of India was Housing Development Finance Corporation Limited, to set up a
bank in the private sector banks in India as part of the RBI's liberalisation of the
Indian Banking Industry. It was incorporated in August 1994 as HDFC Bank
Limited with registered office in Mumbai and commenced operations as Scheduled
Commercial Bank in January 1995.

ING Vysya, yet another Private Bank of India was incorporated in the year 1930.
Bangalore has a pride of place for having the first branch inception in the year
1934. With successive years of patronage and constantly setting new standards in
banking, ING Vysya Bank has many credits to its account.

The Co operative banks in India started functioning almost 100 years ago. The
Cooperative bank is an important constituent of the Indian Financial System,
judging by the role assigned to co operative, the expectations the co operative is
supposed to fulfil, their number, and the number of offices the cooperative bank
operate. Though the co operative movement originated in the West, but the
importance of such banks have assumed in India is rarely paralleled anywhere else
in the world. The cooperative banks in India plays an important role even today in
rural financing. The businessess of cooperative bank in the urban areas also has
increased phenomenally in recent years due to the sharp increase in the number of
primary co-operative banks.

Co operative Banks in India are registered under the Co-operative Societies Act.
The cooperative bank is also regulated by the RBI. They are governed by the
Banking Regulations Act 1949 and Banking Laws (Co-operative Societies) Act,
1965.

Rural banking in India started since the establishment of banking sector in India.
Rural Banks in those days mainly focussed upon the agro sector. Regional rural
banks in India penetrated every corner of the country and extended a helping hand
in the growth process of the country.

SBI has 30 Regional Rural Banks in India known as RRBs. The rural banks of SBI
is spread in 13 states extending from Kashmir to Karnataka and Himachal Pradesh
to North East. The total number of SBIs Regional Rural Banks in India branches is
2349 (16%). Till date in rural banking in India, there are 14,475 rural banks in the
country of which 2126 (91%) are located in remote rural areas.

Apart from SBI, there are other few banks which functions for the development of
the rural areas in India. Few of them are as follows.

Haryana State Cooperative Apex Bank Limited

The Haryana State Cooperative Apex Bank Ltd. commonly called as

HARCOBANK plays a vital role in rural banking in the economy of Haryana State
and has been providing aids and financing farmers, rural artisans, agricultural
labourers, entrepreneurs, etc. in the state and giving service to its depositors.

NABARD

National Bank for Agriculture and Rural Development (NABARD) is a

development bank in the sector of Regional Rural Banks in India. It provides and
regulates credit and gives service for the promotion and development of rural
sectors mainly agriculture, small scale industries, cottage and village industries,
handicrafts. It also finance rural crafts and other allied rural economic activities to
promote integrated rural development. It helps in securing rural prosperity and its
connected matters.

Sindhanur Urban Souharda Co-operative Bank

Sindhanur Urban Souharda Co-operative Bank, popularly known as SUCO BANK

is the first of its kind in rural banks of India. The impressive story of its inception
is interesting and inspiring for all the youth of this country.

United Bank of India

United Bank of India (UBI) also plays an important role in regional rural banks. It
has expanded its branch network in a big way to actively participate in the
developmental of the rural and semi-urban areas in conformity with the objectives
of nationalisation.

Syndicate Bank

Syndicate Bank was firmly rooted in rural India as rural banking and have a clear
vision of future India by understanding the grassroot realities. Its progress has been
abreast of the phase of progressive banking in India especially in rural banks.

Foreign Banks in India always brought an explanation about the

prompt services to customers. After the set up foreign banks in India, the
banking sector in India also become competitive and accurative.

New rules announced by the Reserve Bank of India for the foreign banks
in India in this budget has put up great hopes among foreign banks
which allows them to grow unfettered. Now foreign banks in India are
permitted to set up local subsidiaries. The policy conveys that forign
banks in India may not acquire Indian ones (except for weak banks
identified by the RBI, on its terms) and their Indian subsidiaries will not
be able to open branches freely. Please see the list of Foreign banks in
India till date.

List of Foreign Banks in India

• Abu Dhabi Commercial Bank
• ANZ Grindlays Bank
• Bank of America
• Bank of Ceylon
• BNP
• Citi Bank
• China Trust Commercial Bank
• HSBC
• Standard Chartered Bank
• Taib Bank
• Bank of Nova Scotia
• ABN-AMRO Bank
• Deutsche Bank
• JPMorgan Chase Bank
By the year 2009, the list of foreign banks in India is going to become
more quantitative as number of foreign banks are still waiting with
baggage to start business in India.

By 2009 few more names is going to be added in the list of foreign

banks in India. This is as an aftermath of the sudden interest shown by
Reserve Bank of India paving roadmap for foreign banks in India greater
freedom in India. Among them is the world's best private bank by
EuroMoney magazine, Switzerland's UBS.

The following are the list of foreign banks going to set up business in
India
• Royal Bank of Scotland
• Switzerland's UBS
• US-based GE Capital
• Credit Suisse Group
• Industrial and Commercial Bank of China
Merrill Lynch is having a joint venture in Indian investment banking
space -- DSP Merrill Lynch. Goldman Sachs holds stakes in Kotak
Mahindra arms.
GE Capital is also having a wide presence in consumer finance through
GE Capital India.

India's GDP is seen growing at a robust pace of around 7% over the next
few years, throwing up opportunities for the banking sector to profit
from.

The credit of banks has risen by over 25% in 2004-05 and the growth
momentum is expected to continue over the next four to five years.

Participation in the growth curve of the Indian economy in the next four
years will provide foreign banks a launch pad for greater business
expansion when they get more freedom after April 2009.

The central bank of the country is the Reserve Bank of India (RBI). It was
established in April 1935 with a share capital of Rs. 5 crores on the basis of the
recommendations of the Hilton Young Commission. The share capital was divided
into shares of Rs. 100 each fully paid which was entirely owned by private
shareholders in the begining. The Government held shares of nominal value of Rs.
2,20,000.

Reserve Bank of India was nationalised in the year 1949. The general
superintendence and direction of the Bank is entrusted to Central Board of
Directors of 20 members, the Governor and four Deputy Governors, one
Government official from the Ministry of Finance, ten nominated Directors by the
Government to give representation to important elements in the economic life of
the country, and four nominated Directors by the Central Government to represent
the four local Boards with the headquarters at Mumbai, Kolkata, Chennai and New
Delhi. Local Boards consist of five members each Central Government appointed
for a term of four years to represent territorial and economic interests and the
interests of co-operative and indigenous banks.

The Reserve Bank of India Act, 1934 was commenced on April 1, 1935. The Act,
1934 (II of 1934) provides the statutory basis of the functioning of the Bank.

The Bank was constituted for the need of following:

• To regulate the issue of banknotes
• To maintain reserves with a view to securing monetary stability and
• To operate the credit and currency system of the country to its advantage.
Functions of Reserve Bank of India

The Reserve Bank of India Act of 1934 entrust all the important functions of a
central bank the Reserve Bank of India.

Bank of Issue

Under Section 22 of the Reserve Bank of India Act, the Bank has the sole right to
issue bank notes of all denominations. The distribution of one rupee notes and
coins and small coins all over the country is undertaken by the Reserve Bank as
agent of the Government. The Reserve Bank has a separate Issue Department
which is entrusted with the issue of currency notes. The assets and liabilities of the
Issue Department are kept separate from those of the Banking Department.
Originally, the assets of the Issue Department were to consist of not less than two-
fifths of gold coin, gold bullion or sterling securities provided the amount of gold
was not less than Rs. 40 crores in value. The remaining three-fifths of the assets
might be held in rupee coins, Government of India rupee securities, eligible bills of
exchange and promissory notes payable in India. Due to the exigencies of the
Second World War and the post-was period, these provisions were considerably
modified. Since 1957, the Reserve Bank of India is required to maintain gold and
foreign exchange reserves of Ra. 200 crores, of which at least Rs. 115 crores
should be in gold. The system as it exists today is known as the minimum reserve
system.

Banker to Government
The second important function of the Reserve Bank of India is to act as
Government banker, agent and adviser. The Reserve Bank is agent of Central
Government and of all State Governments in India excepting that of Jammu and
Kashmir. The Reserve Bank has the obligation to transact Government business,
via. to keep the cash balances as deposits free of interest, to receive and to make
payments on behalf of the Government and to carry out their exchange remittances
and other banking operations. The Reserve Bank of India helps the Government -
both the Union and the States to float new loans and to manage public debt. The
Bank makes ways and means advances to the Governments for 90 days. It makes
loans and advances to the States and local authorities. It acts as adviser to the
Government on all monetary and banking matters.

Bankers' Bank and Lender of the Last Resort

The Reserve Bank of India acts as the bankers' bank. According to the provisions
of the Banking Companies Act of 1949, every scheduled bank was required to
maintain with the Reserve Bank a cash balance equivalent to 5% of its demand
liabilites and 2 per cent of its time liabilities in India. By an amendment of 1962,
the distinction between demand and time liabilities was abolished and banks have
been asked to keep cash reserves equal to 3 per cent of their aggregate deposit
liabilities. The minimum cash requirements can be changed by the Reserve Bank
of India.

The scheduled banks can borrow from the Reserve Bank of India on the basis of
eligible securities or get financial accommodation in times of need or stringency by
rediscounting bills of exchange. Since commercial banks can always expect the
Reserve Bank of India to come to their help in times of banking crisis the Reserve
Bank becomes not only the banker's bank but also the lender of the last resort.

Controller of Credit

The Reserve Bank of India is the controller of credit i.e. it has the power to
influence the volume of credit created by banks in India. It can do so through
changing the Bank rate or through open market operations. According to the
Banking Regulation Act of 1949, the Reserve Bank of India can ask any particular
bank or the whole banking system not to lend to particular groups or persons on the
basis of certain types of securities. Since 1956, selective controls of credit are
increasingly being used by the Reserve Bank.

The Reserve Bank of India is armed with many more powers to control the Indian
money market. Every bank has to get a licence from the Reserve Bank of India to
do banking business within India, the licence can be cancelled by the Reserve
Bank of certain stipulated conditions are not fulfilled. Every bank will have to get
the permission of the Reserve Bank before it can open a new branch. Each
scheduled bank must send a weekly return to the Reserve Bank showing, in detail,
its assets and liabilities. This power of the Bank to call for information is also
intended to give it effective control of the credit system. The Reserve Bank has
also the power to inspect the accounts of any commercial bank.

As supereme banking authority in the country, the Reserve Bank of India,

therefore, has the following powers:
(a) It holds the cash reserves of all the scheduled banks.

(b) It controls the credit operations of banks through quantitative and qualitative
controls.

(c) It controls the banking system through the system of licensing, inspection and
calling for information.

(d) It acts as the lender of the last resort by providing rediscount facilities to
scheduled banks.

Custodian of Foreign Reserves

The Reserve Bank of India has the responsibility to maintain the official rate of
exchange. According to the Reserve Bank of India Act of 1934, the Bank was
required to buy and sell at fixed rates any amount of sterling in lots of not less than
Rs. 10,000. The rate of exchange fixed was Re. 1 = sh. 6d. Since 1935 the Bank
was able to maintain the exchange rate fixed at lsh.6d. though there were periods
of extreme pressure in favour of or against
the rupee. After India became a member of the International Monetary Fund in
1946, the Reserve Bank has the responsibility of maintaining fixed exchange rates
with all other member countries of the I.M.F.

Besides maintaining the rate of exchange of the rupee, the Reserve Bank has to act
as the custodian of India's reserve of international currencies. The vast sterling
balances were acquired and managed by the Bank. Further, the RBI has the
responsibility of administering the exchange controls of the country.

Supervisory functions

In addition to its traditional central banking functions, the Reserve bank has certain
non-monetary functions of the nature of supervision of banks and promotion of
sound banking in India. The Reserve Bank Act, 1934, and the Banking Regulation
Act, 1949 have given the RBI wide powers of supervision and control over
commercial and co-operative banks, relating to licensing and establishments,
branch expansion, liquidity of their assets, management and methods of working,
amalgamation, reconstruction, and liquidation. The RBI is authorised to carry out
periodical inspections of the banks and to call for returns and necessary
information from them. The nationalisation of 14 major Indian scheduled banks in
July 1969 has imposed new responsibilities on the RBI for directing the growth of
banking and credit policies towards more rapid development of the economy and
realisation of certain desired social objectives. The supervisory functions of the
RBI have helped a great deal in improving the standard of banking in India to
develop on sound lines and to improve the methods of their operation.

Promotional functions

With economic growth assuming a new urgency since Independence, the range of
the Reserve Bank's functions has steadily widened. The Bank now performs a
varietyof developmental and promotional functions, which, at one time, were
regarded as outside the normal scope of central banking. The Reserve Bank was
asked to promote banking habit, extend banking facilities to rural and semi-urban
areas, and establish and promote new specialised financing agencies. Accordingly,
the Reserve Bank has helped in the setting up of the IFCI and the SFC; it set up the
Deposit Insurance Corporation in 1962, the Unit Trust of India in 1964, the
Industrial Development Bank of India also in 1964, the Agricultural Refinance
Corporation of India in 1963 and the Industrial Reconstruction Corporation of
India in 1972. These institutions were set up directly or indirectly by the Reserve
Bank to promote saving habit and to mobilise savings, and to provide industrial
finance as well as agricultural finance. As far back as 1935, the Reserve Bank of
India set up the Agricultural Credit Department to provide agricultural credit. But
only since 1951 the Bank's role in this field has become extremely important. The
Bank has developed the co-operative credit movement to encourage saving, to
eliminate moneylenders from the villages and to route its short term credit to
agriculture. The RBI has set up the Agricultural Refinance and Development
Corporation to provide long-term finance to farmers.

Classification of RBIs functions

The monetary functions also known as the central banking functions of the RBI are
related to control and regulation of money and credit, i.e., issue of currency,
control of bank credit, control of foreign exchange operations, banker to the
Government and to the money market. Monetary functions of the RBI are
significant as they control and regulate the volume of money and credit in the
country.

Equally important, however, are the non-monetary functions of the RBI in the
context of India's economic backwardness. The supervisory function of the RBI
may be regarded as a non-monetary function (though many consider this a
monetary function). The promotion of sound banking in India is an important goal
of the RBI, the RBI has been given wide and drastic powers, under the Banking
Regulation Act of 1949 - these powers relate to licencing of banks, branch
expansion, liquidity of their assets, management and methods of working,
inspection, amalgamation, reconstruction and liquidation. Under the RBI's
supervision and inspection, the working of banks has greatly improved.
Commercial banks have developed into financially and operationally sound and
viable units. The RBI's powers of supervision have now been extended to non-
banking financial intermediaries. Since independence, particularly after its
nationalisation 1949, the RBI has followed the promotional functions vigorously
and has been responsible for strong financial support to industrial and agricultural
development in the country
 CHAPTER 2
COMPANYS PROFILE
ICICI BANK
 INTRODUCTION TO ICICI BANK

ICICI Bank is India's second-largest bank with total assets of about Rs.1,67,659
crore at March 31, 2005 and profit after tax of Rs. 2,005 crore for the year ended
March 31, 2005 (Rs. 1,637 crore in fiscal 2004). ICICI Bank has a network of
about 560 branches and extension counters and over 1,900 ATMs. ICICI Bank
offers a wide range of banking products and financial services to corporate and
retail customers through a variety of delivery channels and through its specialized
subsidiaries and affiliates in the areas of investment banking, life and non-life
insurance, venture capital and asset management.

ICICI Bank set up its international banking group in fiscal 2002 to cater to the
cross border needs of clients and leverage on its domestic banking strengths to
offer products internationally. ICICI Bank currently has subsidiaries in the United
Kingdom and Canada, branches in Singapore and Bahrain and representative
offices in the United States, China, United Arab Emirates, Bangladesh and South
Africa.

ICICI Bank's equity shares are listed in India on the Stock Exchange, Mumbai and
the National Stock Exchange of India Limited and its American Depositary
Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).
As required by the stock exchanges, ICICI Bank has formulated a Code of
Business Conduct and Ethics for its directors and employees.

At April 4, 2005, ICICI Bank, with free float market capitalization of about Rs.
308.00 billion (US$ 7.00 billion) ranked third amongst all the companies listed on
the Indian stock exchanges.
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial
institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI
Bank was reduced to 46% through a public offering of shares in India in fiscal
1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000,
ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation
in fiscal 2001, and secondary market sales by ICICI to institutional investors in
fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World
Bank, the Government of India and representatives of Indian industry. The
principal objective was to create a development financial institution for providing
medium-term and long-term project financing to Indian businesses. In the 1990s,
ICICI transformed its business from a development financial institution offering
only project finance to a diversified financial services group offering a wide variety
of products and services, both directly and through a number of subsidiaries and
affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the
first bank or financial institution from non-Japan Asia to be listed on the NYSE.

After consideration of various corporate structuring alternatives in the context of

the emerging competitive scenario in the Indian banking industry, and the move
towards universal banking, the managements of ICICI and ICICI Bank formed the
view that the merger of ICICI with ICICI Bank would be the optimal strategic
alternative for both entities, and would create the optimal legal structure for the
ICICI group's universal banking strategy. The merger would enhance value for
ICICI shareholders through the merged entity's access to low-cost deposits, greater
opportunities for earning fee-based income and the ability to participate in the
payments system and provide transaction-banking services. The merger would
enhance value for ICICI Bank shareholders through a large capital base and scale
of operations, seamless access to ICICI's strong corporate relationships built up
over five decades, entry into new business segments, higher market share in
various business segments, particularly fee-based services, and access to the vast
talent pool of ICICI and its subsidiaries. In October 2001, the Boards of Directors
of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly-
owned retail finance subsidiaries, ICICI Personal Financial Services Limited and
ICICI Capital Services Limited, with ICICI Bank. The merger was approved by
shareholders of ICICI and ICICI Bank in January 2002, by the High Court of
Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at
Mumbai and the Reserve Bank of India in April 2002. Consequent to the merger,
the ICICI group's financing and banking operations, both wholesale and retail,
have been integrated in a single entity.

BOARD MEMBERS

Board Members
• Mr. N. Vaghul, Chairman
• Mr. Uday M. Chitale
• Mr. Sridar Iyengar
• Mr. Lakshmi N. Mittal
• Mr. Anupam Puri
• Mr. Vinod Rai
• Mr. Somesh R. Sathe
• Mr. M.K. Sharma
• Mr. P.M. Sinha
• Prof. Marti G. Subrahmanyam
• Mr. T.S.Vijayan
• Mr. V. Prem Watsa
• Mr. K.V. Kamath, Managing Director & CEO
• Ms. Lalita D. Gupte, Joint Managing Director
• Ms. Kalpana Morparia, Deputy Managing Director
• Ms. Chanda Kochhar, Executive Director
• Dr. Nachiket Mor, Executive Director

BOARD COMMITIES
Agriculture & Small Enterprises Business Committee
Mr. N. Vaghul
Mr. Somesh R. Sathe
Mr. P. M. Sinha
Mr. M. K. Sharma

Audit Committee
Mr. Uday M. Chitale
Mr. Somesh R. Sathe
Mr. M. K. Sharma

Board Governance & Remuneration Committee

Mr. N. Vaghul
Mr. Anupam Puri
Mr. M.K. Sharma
Mr. P.M. Sinha
Prof. Marti G. Subrahmanyam

Business Strategy Committee

Mr. N. Vaghul
Mr. Anupam Puri
Mr. M. K. Sharma
Mr. P. M. Sinha
Mr. K. V. Kamath

Credit Committee
Mr. N. Vaghul
Mr. Somesh R. Sathe
Mr. M.K. Sharma
Mr. K. V. Kamath

Fraud Monitoring Committee

Mr. Uday M. Chitale
Mr. M.K. Sharma
Mr. K.V. Kamath
Ms. Kalpana Morparia
Ms. Chanda D. Kochhar

Risk Committee
Mr. N. Vaghul
Prof. Marti G. Subrahmanyam
Mr. Uday M. Chitale
Mr. V. Prem Watsa
Mr. K. V. Kamath

Share Transfer & Shareholders'/ Investors' Grievance Committee

Mr. Uday M. Chitale
Mr. Somesh R. Sathe
Ms. Kalpana Morparia
Ms. Chanda D. Kochhar

Committee of Directors
Mr. K. V. Kamath
Ms. Lalita D. Gupte
Ms. Kalpana Morparia
Ms. Chanda D. Kochhar
Dr. Nachiket Mor

Asset-Liability Management Committee

Ms. Lalita D. Gupte
Ms. Kalpana Morparia
Ms. Chanda D. Kochhar
Dr. Nachiket Mor
 CORPORATE SOCIAL RESPONSIBILITY

SOCIAL INITIATIVES GROUP (SIG):

ICICI Bank's social sector initiatives aim to resolve some of the most fundamental
developmental problems facing India today. Its involvement is primarily in terms
of non-commercial support to fill knowledge and practice gaps in specific thematic
areas— Early Child Health, Elementary Education and Micro Financial Services.
SIG interactive platform that seeks to:
• Bring together participants in the development process to widen and deepen
the discourse informing development practice. Interactive features include
discussion boards and facilities to post papers, articles or other resources.

• Publish research related to innovations and significant problems within the

identified thematic areas.
• Enable online application for funding.

MISSION STATEMENT OF SIG

The mission statement of the SIG is "to identify and support initiatives designed to
improve the capacities of the poorest of the poor to participate in the larger
economy". The SIG believes that the three fundamental capacities any individual
should possess to be able to participate in the larger economy are in the areas of
health, education and access to basic financial services. Within these broad areas,
infant health at birth, elementary education and micro financial services define the
areas in which the SIG’s work focuses
At a very basic level, the programmes and projects supported by the SIG are
required to cater to the poorest. They should enable them to become active and
informed participants in socio-economic processes as opposed to passive
observers. These initiatives must be output oriented, with a focus on producing
measurable outcomes that meet a minimum quality requirement. The initiatives
also need to be cost-effective. This is in recognition of the fact that resources are
limited and their efficient use is imperative if the maximum number is to benefit.
Cost-effectiveness also facilitates the adoption of the initiative in other contexts.
The initiative must be scalable. Scalability implies the ability to draw upon
important elements of a programme and adapt them to suit the needs of a specific
situation. It should be possible to do so at a national level. Even if the programme
itself is not directly scaleable, it should be possible to take away significant lessons
from it in order to enrich work in other settings.
All supported initiatives should have the potential for both near and long-term
impact. Consequentially, it is important that the impact of these programmes, in the
near and long term, be carefully understood and analyzed in a rigorous manner and
not through anecdotes. It is critical to clearly understand how an initiative is
performing in terms of its predetermined goals and in comparison to alternatives.
There is little doubt that a complex of factors, very often beyond the control of the
programme/ organization, will influence the outcome. Yet, serious and regular
impact analysis can only make the programme richer and is essential. The SIG
assigns greater value to programmes/ organizations that carefully examine the
short-term and long-term implications of their actions.
In pursuit of its goals in the three focus areas, the SIG tends to support reasonably
large-sized initiatives so that issues such as cost-effectiveness, scalability and
impact assessment can be dealt with more directly. These initiatives not only have
the potential to provide key research inputs to other programmes, but also tend to
have a large impact that benefits the communities they work with. The approach of
the SIG may thus be characterized more broadly as ‘action research’, to distinguish
it from pure academic research. However, in its research work and impact
assessment, the SIG seeks to adhere to the highest standards of academic rigour. It
often works in partnership with academic institutions such as Institute of Rural
Management Anand, KEM, Massachusetts Institute of Technology, Tata Institute of
Social Sciences, University of California, Berkeley and the University of
Southampton.
It is crucial that the programmes supported by SIG be time-bound. This lends
clarity to the aim of the programme and prevents its intent from getting diluted
over time.
The SIG works by identifying gaps in knowledge and practice in its focus areas
and locating initiatives that address these gaps in a manner consistent with the
SIG’s mission. The identification of research needs is followed by an in-depth
analysis of the short-term and long-term implications of various forms of action.
Among other things, this requires taking a comprehensive overview of work
already done in the country and outside. The SIG, thus, seeks to answer certain
fundamental questions in its focus areas through the projects it supports and,
thereby, contribute to findings that help the sector. It should be pointed out that the
SIG does not function as a rollout agency.
An important feature of the SIG’s strategy is the belief in strengthening or
supplementing existing systems, rather than investing in parallel structures.
Another key element of its strategy is the building of long-term relationships with
suitable partners. As part of this effort, the SIG works actively to improve the
efficacy of these partners and ensure sustained impact.
In pursuit of its goals, the SIG seeks to work actively with research agencies, Non-
Governmental Organisations (NGOs), Corporates, Government departments, local
stakeholders and international organisations. It should also be noted that the group
believes modern technologies, particularly Information and Communication
Technologies (ICT) can prove to be important facilitators if used appropriately.

FOCUS AREAS OF SIG

The SIG has three focus areas:

• Early Child Health

• Elementary Education
 • Micro Financial Services

Health: Early Child Health

This focus seems to have the potential for maximum long and short-term impact
and appears achievable in the most cost-effective and therefore scaleable
manner.ICICI Bank aims to improve individual capacity by impacting two
important indicators of chronic undernutrition in the first three years at the national
level:
 Proportion of babies born with a birth weight of less than 2.5 kg at or
beyond 37 weeks of gestation (Intra-Uterine Growth retardation, IUGR)
 Proportion of children under three years who are stunted.
Education: Elementary Education
Education (and not just literacy) up to the elementary level seems to be almost a
necessary condition for any individual (rich or poor) to be able to participate in any
manner in the larger economy Here the goal is to work towards the universalisation
of elementary education all across India, rural and urban, with a substantial
difference being made by 2010. The goal focuses on retention in school and
learning achieved.
Money: Micro Financial ServicesThese services would include basic banking
(savings and cash management), finance (debt and equity), insurance (life and
health) and derivatives. The goal here is to facilitate universal access to these four
services by the year 2010.

In addition to its core areas of focus, the SIG, in a limited manner, supports some
other initiatives:
1. Non-governmental Organization (NGO) Capacity Building
This is supported through the GIVE (Giving Impetus to Voluntary Effort)
Foundation. It seeks to provide a variety of services to NGOs listed including
facilitating the receipt of donations online (Give Online), sale of NGO products
(Shop Online), volunteering of time and skills (Volunteer Online) and news (News
Online).
2. Modernization of the Indian Financial System
This involves encouraging appropriate research and institution building efforts on a
national basis. It is a virtual non-profit research centre that acts as a platform to
address and encourage debate, and develop a non-partisan opinion on various
issues of concern and interest in financial economics relating to emerging markets.
ICICI Bank has supported the development of various financial institutions such as
the National Stock Exchange and the Bombay Stock Exchange. It has also
supported the Institute for Financial Management and Research, Chennai.
The changed economic climate in India, with a growing emphasis on the market,
has hastened the need for an informed and participatory socio-economic order. As
one of the largest players in the economic landscape of the country, ICICI Bank
believes that its involvement in the commercial sector must be backed by a
simultaneous commitment in the social sector. This is particularly so if any of the
larger goals of economic liberalisation in India, and of its players, is to be brought
to fruition. ICICI Bank seeks to perform its role in the social sector through a
dedicated not-for-profit group, the Social Initiatives Group (SIG).
 CHAPTER 3

• Operations & Product Features

• THE 5 ‘S’ Philosophy
• THE RETAIL BUSINESS
DEVELOPMENT MODEL (RBD)
• BANK@HOME
• CORPORATE BOXES
OPERATIONS & PRODUCT
FEATURES
ICICI Bank offers wide variety of Deposit Products to suit customer requirements.
Coupled with convenience of networked branches/ over 1800 ATMs and facility of
E-channels like Internet and Mobile Banking, ICICI Bank brings banking at the
doorstep.

SAVINGS ACCOUNT

ICICI Bank offers customers a power packed Savings Account with a host of
convenient features and banking channels to transact through. So now customers
can bank at their convenience, without the stress of waiting in queues. ICICI Bank
provides its customers with various types of savings accounts keeping in mind
different needs of different people.

• Normal Savings Account

• Special Savings Account

• Senior Citizen Accounts

• Young Stars Accounts

• Women Accounts

Normal Savings Account:

The Normal savings Account that ICICI offers has the following salient features
1. Anywhere Banking: Opening an account with ICICI is not exclusive to the
branch the customer has walked into, customer enjoy the power of banking
at any of the branches throughout India. Customers have the power to
withdraw cash up to Rs. 50,000 and make cash deposits up to Rs. 50,000 as
well.

2. Internet Banking: This is a value added service that the customers are
offered free of cost it allows them to check their account balance, pay utility
bills, make fund transfers between self accounts as well as third party at the
click of the mouse.

3. Ncash debit cum ATM card: It is an international 2-in-1 card that enables
customers not only to withdraw cash from ICICI but also from a non ICICI
VISA ATM’s further it allows customers to shop at various merchant outlets
accredited to VISA across the globe.

4. Minimum Balance: Customers need not maintain a daily minimum balance

in their account. On a given day balance in the account may drop to zero,
this allows customers all their funds at their disposal. Customers need to
maintain an average balance of Rs.5,000 per quarter. Non-maintenance of
the minimum average quarterly balance attracts a fee of Rs.750 per quarter.

5. Others:

- Customers can give us various types of standing instructions like transferring

to fixed deposit accounts at regular intervals.
-Nomination facility is available.
-Interest is payable half-yearly.

Documentation Required:
 (A) Identity Proof:

-Verified true copy of valid passport.

-Letter from existing bank.
-Valid driving license.
-Valid employee identity card.
-Valid PAN card.
-Valid pension book.
-Valid photo credit card along with the current billing cycle (latest) statement.
-Valid freedom fighter's pass issued Home Ministry of Government of India.
-True copy of valid arms license issued by Govt of India/State govts/Union
territory with photograph.

(B) Proof Of Communication Address:

-Latest electricity bill.

-Latest telephone bill.
-Consumer gas connection card.
-Current lease agreement.
-Latest premium receipt from any life insurance company.
-Latest statement of account from a credit card issuing company.
-Letter from employer certifying the residential address of the employee as
recorded in their books.
-Latest certificate (not more than 3 months old) from the postal office
confirming address of the applicant.
-Residential certificate mentioning name and address of the applicant issued
by municipal corporation/local body etc.
-Certificate from ward officer, maintaining election roll, certifying address
of the applicant.

(C) Self cheque (if the applicant is not visiting the branch for account
opening)

Special Savings Account:

The Special Savings Account has been designed keeping in mind the
specific needs of organizations such as Trusts, Associations, Societies,
Councils, Clubs etc. It provides organizations solutions with added value
and is ideal for tax exempted entities.

The Special Savings Account has the following salient features

1. Multi-City Cheque Book: This facility allows its customers to skip the
traditional way of transferring funds to other cities through a demand
draft. The Special Savings Account holder are issued two separate
chequebooks for local and outstation use, thereby not only saving on time
but also saving on draft commission. The cheques are payable at par at
designated ICICI Bank branches across the country. There will be no
 limit to the value of cheque issued on a single day at RBI clearing
centers. For all other centers a cap of Rs.10, 00,000 on a single day apply.
All chequrebooks are personalized.

2. Quantum Optima Facility: Quantum Optima facility combines the

liquidity of a saving account and high returns of Fixed Deposit. All
balances in the saving account above Rs.25,000 are transferred to a fixed
deposit in multiples of Rs.5,000 for a time period of one year. The funds
however continue to be accessible around the clock through ATM, and
also through cheques. Whenever the saving account balance falls below
the specified limit, sufficient amount is transferred back from the fixed
deposit by breaking in units of Rs.1,000 on last in first out basis, the
terms of the fixed deposit can be specified. This facility is available to
those employees who do not use the overdraft facility. However one the
overdraft is regularized this facility can be resumed.

3. Others:

- Internet Banking .
-Free Anywhere banking .
-Free collection of outstation cheques.
-Free monthly account statements.
-Payroll processing for employees of the organization through ICICI Bank
Salary Accounts.
-Inward remittance through Money2India for approved trusts.
Eligibility

Special Savings Account can be opened by

a. Primary Co-operative Credit Society which is being financed by the bank.
b. Khadi and Village Industries Boards.
c. Agriculture Produce Market Committees.
d. Societies registered under the Societies Registration Act, 1860 or any Other
corresponding law in force in State or a Union Territory.
e. Companies governed by the Companies Act, 1956 which have been
Licensed by the Central Government under Section 25 of the said Act, or
under the corresponding provision in the Indian Companies Act, 1913 and
permitted, not to add to their names the words 'Limited' or the words 'Private
Limited'
f. Institutions other than those mentioned in clause (i) and whose entire income
is exempt from payment of Income-tax under the Income-Tax Act, 1961.
g. Government departments/bodies/agencies in respect of grants/ subsidies
released for implementation of various programmes/ schemes sponsored by
Central/State Government subject to production of an authorization from the
respective Government departments to open savings bank account.
h. Development of Women and Children in Rural Areas (DWCRA).
i. Self-help Groups (SHGs), registered or unregistered, which are Engaged in
promoting savings habits among their members.
j. Farmers' Clubs - Vikas Volunteer Vahini - VVV.

Special Savings Account cannot be opened in the name of

a. Government departments/bodies depending upon budgetary allocations for
performance of their functions
b. Municipal Corporations or Municipal Committees
c. Panchayat Samitis
d. State Housing Boards
e. Water and Sewerage / Drainage Boards / Metropolitan Development
Authority / State / State Text Book Publishing Corporations / Societies /
District Level Housing Co-op. Societies etc.
f. Any political party or trading or business concern, whether such concern is a
proprietary or a partnership firm or a company or an association.

Documentation:

1.1 Mandatory documents for all Special Savings Accounts

1. Appropriate Account opening form.

2. Specimen signatures and latest photographs of all authorised signatories.
3. Copy of PAN or duly filled Form 60-with reasons of not having PAN.

Copy of duly acknowledged form 49A where the client has filled form 60 with
the reason 'Applied for PAN'.
4. Self-drawn Cheque (Signature and stamp on cheque to match with that in
Account opening form)
5. Certified copy of Resolution to open the account signed by Managing
Trustee / Chairperson / Secretary / any two authorised signatories (for Trust /
Association / Society / Club)

1.2 Documents specific for Trusts/Associations/Clubs/Society

1. For Trusts:
Certified "True and Updated" copy of Trust Deed signed by managing /
authorised trustees
For Associations / Society / Clubs:
Certified "True and Updated" copy of rules & bye-laws (for Association /
Society / Club) signed by the Secretary
2. Certified "True and Updated" copy of certificate of registration (for
Trusts/ Association / Society / Club).
Exclusion:
Certificate of Registration is not mandatory for opening accounts of Private
Trusts. In such cases, proof of address is mandatory
3. List of all office bearers / Trustees, to be obtained on the letterhead (of
the Trust / Association / Society / Club), with their addresses and signed and
dated by Managing Trustee / Chairperson / Secretary / two authorised
signatories.
4. The following documents are required to establish the tax-exempt status
of the applicant (if applicable):
i. Copy of the last acknowledged return of income / IT assessment order
verifying that the income is exempt from tax
ii. Registration certificate from Income Tax establishing that the income of
entity is exempt from tax
iii. Confirmation from the authorised signatory that the income of the entity is
exempt under the Income-tax Act
5. Identity proofs for all authorised signatories.
6. If documents as mentioned in point 1, 2 or the IT assessment order/IT
registration certificate submitted by the applicant does not establish the
communication address as mentioned in the Account opening form, separate
proof of communication address in the name of the Trusts / Associations /
Society / Club needs to be collected.

Senior Citizen Account:

The Senior Citizen Account has a few services that the Normal Savings
Account does not offer. The salient feature of the Senior Citizen Account are
• Higher Interest Rates.
• Demand Loan / overdraft against deposits will be upto 90% of the deposit.
• The upcountry cheque collection facility for locations with ICICI Bank
presence free of charge to the Senior Citizen customers.
• The ICICI Bank Ncash debit card is a debit-cum-ATM card providing you
with the convenience of acceptance at merchant establishments and cash
withdrawals at ATMs.
• Auto Invest Account
• Internet Banking is offered free of cost.
• Anywhere Banking - This facility entitles the account holder to withdraw or
deposit cash upto a limit of Rs.50,000 across all ICICI Bank branches.
 • You can give us various types of standing instructions like transferring to
fixed deposit accounts at regular intervals.
• An average quarterly balance of Rs 5,000 only. Non-maintenance of the
minimum average quarterly balance attracts a fee of Rs 750 per quarter.
• Nomination facility is available.
• Interest is payable half-yearly.

Eligibility Criteria
• A person who has completed the age of 60 years may be treated as a senior
citizen for getting the benefit under the special deposit scheme for senior
citizens.

Documentation
Applicants must satisfy the following documentation requirements

(A) Identity proof:

-Verified true copy of valid passport
-Letter from existing bank
-Valid driving license
-Valid employee identity card
-Valid PAN card
-Valid pension book
-Valid photo credit card along with the current billing cycle (latest) statement
-True copy of valid arms license issued by Govt of India/State govts/Union
territory with photograph
-Valid freedom fighter's pass issued Home Ministry of Government of India

(B) Proof of communication address :

-Latest electricity bill
-Latest telephone bill
-Latest statement of account from a credit card issuing company
-Current lease agreement
-Consumer gas connection card
-Latest premium receipt from any life insurance company
-Certificate from ward officer, maintaining election roll, certifying address of the
applicant
-Residential certificate mentioning name and address of the applicant issued by
municipal corporation/local body etc.
-Latest certificate (not more than 3 months old) from the postal office confirming
address of the applicant
-Letter from employer certifying the residential address of the employee as
recorded in their books

(C) Self cheque (if the applicant is not visiting the branch for account opening)

(D) Age Verification Document:

-Secondary School Leaving Certificate Indicating date of birth
-LIC Policy
-Voters Identity Card
-Pension Payment Order
-Birth Certificate issued by the competent authority
-Passport

Young Stars Account:

Young Stars is a banking service for children, aged 1day -18 years, brought to you
by ICICI Bank to help the parents meet the present and future aspirations that they
hold for their child. It offers various savings and investment options to the parent
along with teaching the child to manage his/her personal finance in a more
responsible and independent manner.
Young Stars will guide your child through the world of banking -through checking
the account balance, fun zones and special pages on the internet. It makes banking
a pleasure and of course teaches your child to manage their personal finances.With
the pocket money that you transfer to your child's account, you can even shop with
him / her at Young Stars very own shopping page.
You can even 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.

Salient features:
1. Option of a Savings Bank account, Fixed Deposit account or Recurring
Deposit account.
2. Minimum balance at Rs. 500/- per quarter for Savings Bank.
3. A special Recurring Deposit account with additional features as below:
i The parent would put forward the desired amount to be earned at the
end of the tenure
ii Based on the prevailing rate of interest, the bank staff would then back
calculate the installments to be deposited now till maturity.
4. Free personalized chequebook
5. Free Domestic Debit Card* for the child above the age of 10 years with
features as below:
a Daily withdrawals limits of Rs. 1,000/-
b Daily spend limits of Rs. 1,000/-
c Special privileges across select alliance partners outlets.
6. Facility to invest in GOI Relief Bonds and Mutual Funds, as GOI Relief
Bonds have been discontinued.
7. Free Internet banking.
a Separate user ids and passwords for both parents and children
b Access to special zones and links to related websites for making
internet banking a memorable experience.
8. Facility to transfer funds from parent account to kid account to enable
parents to inculcate savings habit amongst children.
9. Facility of transferring funds from the Young Stars accounts to the RD to
enable the parents to let their child earn more.
10. Alliances with various partners to meet the child's needs in varied interest
areas such as clothing, computers, books, music, toys etc.
* Available for children above the age of 10 years only.

Eligibility:
Young Stars is a banking service for children in the age group of 1day -18 years
and parent/guardian maintaining saving account with ICICI Bank.

Documentation:
(A) Identity Proof
– Verified true copy of valid passport.
– School identity card
– Date of birth Id

(B) Proof Of Communication Address:

-Latest electricity bill.
-Latest telephone bill.
-Passport .
-Birth Certificate .
-Current lease agreement.
-Consumer gas connection card.
-Residential certificate mentioning name and address of the applicant issued by
municipal corporation/local body etc.
-Certificate from ward officer, maintaining election roll, certifying address of the
applicant.
-Latest certificate (not more than 3 months old) from the postal office confirming
address of the applicant.
-Letter from employer certifying the residential address of the employee as
recorded in their books.
-Proof of date of birth of the minor for Debit Card and Internet banking.
-Latest statement of account from a credit card issuing company.
-Latest premium receipt from any life insurance company.

Women’s Account:
The features of the account have been specially designed keeping in mind a
woman's financial requirements. These include

A) Recurring Deposits
B) Financial planning of children
C) Family Shield Insurance
In addition to these, all features of the existing bank account are available with this
account as well such as
•Free international debit card
•Internet Banking
•Phone Banking
•ATM's

Recurring deposit
• A small amount of money saved every month can grow to a large amount
over a period of time
•No Tax deducted at source
•Can be used for your future expenses like your child's education, marriage,
festivals, or just to buy that gold necklace you always wanted, by keeping aside a
small fixed amount every month
Family shield insurance
•Ensures the security of your family through a personal accident insurance policy
•For an yearly premium amount of Rs.60/-, your child/family can be insured for an
amount of Rs. 2 lac (in case of surface accidents) or Rs.4 lac (in case of air
accidents).
Financial Planning for Children
A "Young star" account - special account for kids to promote the savings habit in
them can be opened for just for a minimum balance of Rs.500 per quarter. The
account has the following features
•Free differentiated debit card for them
•Free differentiated cheque book
•Free internet banking
•Facility to transfer funds from parent account to kid account to enable parents
inculcate savings habit in children

Eligibility*
•Resident Indian Female.
•Joint accounts with a woman as the first holder are also eligible for the account
* Currently available only in Andhra Pradesh region

Documentation:
(A) Identity Proof:
-Verified true copy of valid passport.
-Letter from existing bank.
-Valid driving license.
-Valid employee identity card.
-Valid pension book.
-Valid PAN card.
-Valid photo credit card along with the current billing cycle (latest) statement.
-True copy of valid arms license issued by Govt of India/State govts/Union
territory with photograph.
-Valid freedom fighter's pass issued Home Ministry of Government of India.

(C) Proof Of Communication Address:

-Latest electricity bill.
-Latest telephone bill.
-Current lease agreement.
-Consumer gas connection card.
-Latest statement of account from a credit card issuing company.
-Latest premium receipt from any life insurance company.
-Letter from employer certifying the residential address of the employee as
recorded in their books.
-Residential certificate mentioning name and address of the applicant issued by
municipal corporation/local body etc.
-Certificate from ward officer, maintaining election roll, certifying address of the
applicant.
-Latest certificate (not more than 3 months old) from the postal office confirming
address of the applicant.

a. Where the women applicant's spouse (or) parent has an account with
ICICI Bank
If applicant's spouse/parent maintains an ICICI Bank account, the account
can be opened with his/her introduction. The introduction will be valid even
if the introducer's account is less than 6 months old, provided the conduct of
account is satisfactory. Satisfactory relationship implies:-
i.No levy of non-maintenance of quarterly average balance (OAB) changes
in the account and/or
ii.Not more than five cheque return in a calendar quarter (inclusive of
Inward, outward, Outstations and transfer cheques)

In addition to introduction, self-declaration will be taken from the introducer

verifying his/her relationship with women applicant,
b. Where the women applicant's spouse (or) parent does not have an
account with ICICI Bank
If applicant's spouse/parent is not an ICICI Bank accountholder, deposit
account in the name of women applicant can be opened after obtaining KYC
 documents, from applicant's spouse/parent.
AND
Self-drawn cheque from bank account of applicant's spouse/parent to open
account in the name of the applicant.

FIXED DEPOSITS:

ICICI provides its customers with various kinds of Fixed deposit facilities that are
flexible and cater to customers who have different needs and wants in their fixed
deposits.

FOR COMPLETE REPORT AND

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VISIT

HTTP://PAKISTANMBA.JIMDO.COM