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During fiscal 2009, the year-on-year growth in non-food bank credit declined from a peak of 29.4% in October 2008 to 17.5% in March 2009. This was lower than the 23.0% growth
ICICI Bank: Banking Functions
recorded during fiscal 2008. Based on data published by RBI, at February 27, 2009, industry accounted for 41.7% of non-food gross bank credit, retail credit for 22.3%, agriculture and allied activities for 11.9%, trade for 5.5%, real estate for 3.6% and other sectors for the balance 15.0%. Total deposits grew by 19.8% during fiscal 2009 due to a 23.9% growth in time deposits as demand deposits in the system declined by 0.8%. The credit-deposit ratio remained within the range of 71.0%-75.5% during fiscal 2009 and was about 72.0% in March 2009. During fiscal 2009, volatile market and liquidity conditions and a moderation in demand for retail savings and investment products had a negative impact on growth in the life insurance and mutual fund industries. First year retail premium underwritten in the life insurance sector declined by 10.4% (on weighted received premium basis) to Rs. 471.62 billion in fiscal 2009 with the private sector’s retail market share (on weighted received premium basis) increasing from 50.5% in fiscal 2008 to 57.0% in fiscal 2009. Total assets under management (on average assets basis) of mutual funds declined by 8.4% from Rs. 5,385.08 billion in March 2008 to Rs. 4,932.85 billion in March 2009. The non-life insurance industry was de-tariffed with effect from January 1, 2007 resulting in reduction in premium rates and in the rate of growth of the industry. Gross premium in the non-life insurance sector (excluding specialised insurance institutions) grew by 9.1% to Rs. 306.01 billion in fiscal 2009 compared to 12.3% in fiscal 2008 and 22.2% in fiscal 2007. The private sector’s market share in fiscal 2009 was 41.1%. Equity markets remained weak on global macroeconomic concerns and a reversal in the pattern of global capital flows. The BSE Sensex was 9,709 at March 31, 2009 compared to 15,644 at March 31, 2008. The Sensex recovered to 12,173 at May 15, 2009 before rising sharply to 14,302 at May 19, 2009 following the announcement of the results of the general elections. There were a number of key policy developments in the banking sector during fiscal 2009. In April 2008, RBI issued guidelines for banks engaging recovery agents, advising banks to put in place a grievance redressal mechanism pertaining to the recovery process and a due diligence process for engaging recovery agents. In May 2008, RBI issued a guideline whereby the shortfall in lending to weaker sections was also required to be taken into account while determining contribution to the Rural Infrastructure Development Fund. In August 2008, RBI issued final guidelines on prudential norms for off-balance sheet exposures requiring banks to treat unpaid amounts due for 90 days or more under derivative contracts as non-performing assets. Following the global financial crisis, RBI has identified adequate credit flow at viable rates, maintaining credit quality, limiting the impact of adverse global developments and price and financial
ICICI Bank: Banking Functions
stability as key monetary policy objectives. Since September 2008, RBI significantly reduced key policy rates and reserve requirements for banks. Besides these, measures like additional liquidity support through the Special Refinance Facility (upto 1% of net demand and time liabilities, or NDTL, for a maximum period of 90 days) and a temporary relaxation in statutory liquidity ratio (SLR) maintenance of upto 1.5% of NDTL for lending to mutual funds and nonbanking finance companies (NBFCs) were also introduced. Interest rate ceilings on non-resident Indian (NRI) deposits were increased, ECBs norms were relaxed and non-deposit taking NBFCs were given permission to raise short-term foreign currency borrowings. RBI also reduced risk weights on banks’ exposures to certain sectors as also provisioning requirements for standard assets as a counter cyclical measure. RBI also permitted loans granted by banks to housing finance companies for on-lending for housing upto Rs. 2.0 million per dwelling unit to be classified under priority sector lending. In December 2008, RBI permitted commercial real estate exposures restructured upto June 30, 2009 to be treated as standard assets. In addition, second restructuring by banks of exposures (excluding exposures to real estate, capital markets and personal/consumer loans) up to June 30, 2009 was also made eligible for concessionary asset classification treatment. The Indian financial sector is healthy despite adverse developments in global markets. The Indian banking system is well capitalized and well placed to manage any asset quality concerns. The financial sector in India is well placed to capitalize on growth opportunities in our domestic markets.
659 crore at March 31. 2005 (Rs. 1. 2005 and profit after tax of Rs.1.Foreword ICICI Bank is India's second-largest bank with total assets of about Rs.637 4 .ICICI Bank: Banking Functions ICICI bank 1.005 crore for the year ended March 31.1.67. 2.
ICICI was formed in 1955 at the initiative of the World Bank. As required by the stock exchanges. ICICI Bank's equity shares are listed in India on the Stock Exchange. 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. ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. China. venture capital and asset management. United Arab Emirates. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. and the move towards universal banking. and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI Bank has formulated a Code of Business Conduct and Ethics for its directors and employees. ICICI Bank has a network of about 560 branches and extension counters and over 1. both directly and through a number of subsidiaries and affiliates like ICICI Bank. ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001.ICICI Bank: Banking Functions crore in fiscal 2004). 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.900 ATMs. an equity offering in the form of ADRs listed on the NYSE in fiscal 2000. life and non-life insurance. branches in Singapore and Bahrain and representative offices in the United States. ICICI Bank was originally promoted in 1994 by ICICI Limited. 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. In the 1990s. Bangladesh and South Africa. the Government of India and representatives of Indian industry. the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI 5 . ICICI Bank currently has subsidiaries in the United Kingdom and Canada. After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry. Mumbai and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). an Indian financial institution. In 1999. 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 Personal Financial Services Limited and ICICI Capital Services Limited. 6 . the ICICI group's financing and banking operations. have been integrated in a single entity. by the High Court of Gujarat at Ahmedabad in March 2002. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations. 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. with ICICI Bank. Subsidiary companies At March 31. entry into new business segments. 2009. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002.ICICI Bank: Banking Functions Bank would be the optimal strategic alternative for both entities. The merger would enhance value for ICICI shareholders through the merged entity's access to low-cost deposits. ICICI Bank had 17 subsidiaries as listed below: ➢ Domestic Subsidiaries Subsidiaries ־ ICICI PRUDENTIAL LIFE INSURANCE COMPANY LTD. both wholesale and retail. and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. particularly fee-based services. and access to the vast talent pool of ICICI and its subsidiaries. seamless access to ICICI's strong corporate relationships built up over five decades. greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services.2. higher market share in various business segments. Consequent to the merger. and would create the optimal legal structure for the ICICI group's universal banking strategy. 1.
comprising the retail liabilities. ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LTD. we seek to ensure effective control and supervision and consistency in standards across the organisation. ICICI HOME FINANCE COMPANY LTD. ICICI TRUSTEESHIP SERVICES COMPANY LTD. ICICI INTERNATIONAL LIMITED 1. ICICI SECURITIES PRIMARY DEALERSHIP COMPANY LTD. ICICI SECURITIES VENTURE FUNDS MANAGEMENT COMPANY LTD. ICICI INVESTMENT MANAGEMENT COMPANY LTD. 7 . At the same time. ORGANISATION STRUCTURE ICICI organisation structure is designed to be flexible and customer-focused. retail assets and small enterprises businesses. The organisation is structured into the following principal groups: ✔ Retail Banking Group. ➢ International Subsidiaries Subsidiaries ־ ־ ־ ־ ־ ־ ־ ICICI BANK UK PLC ICICI BANK CANADA ICICI WEALTH MANAGEMENT INC.1. ICICI BANK EURASIA LIABILITY COMPANY ICICI SECURITIES HOLDINGS ICICI SECURITIES INC.ICICI Bank: Banking Functions ־ ־ ־ ־ ־ ־ ־ ־ ־ ICICI LOMBARD GENERAL INSURANCE COMPANY LTD. ICICI SECURITIES COMPANY LTD. ICICI PRUDENTIAL TRUST COMPANY LTD.
and the Bank’s proprietary trading operations across various markets. international trade finance. which is responsible for the Bank’s recruitment. Micro-banking and Agri-business Group. which is responsible for enterprise-wide technology initiatives. including operations in various overseas markets as well as products and services for NRIs. ✔ Global Markets Group. which is responsible for enterprise-wide quality and process improvement initiatives. 8 . which is responsible for management of corporate facilities and administrative support functions. financial crime prevention and reputation risk management. corporate communications. ✔ Organisational Excellence Group. planning and strategy. correspondent banking and wholesale resource mobilisation. risk management. ✔ Technology Management Group. legal. ✔ Corporate Centre. ✔ Global Infrastructure & Administration Group. asset liability management.ICICI Bank: Banking Functions ✔ Rural. ✔ Global Operations & Middle Office Groups. internal audit. comprising the rural and agricultural lending and other banking businesses. commercial banking. project finance and government banking businesses. ✔ International Banking Group. leadership development and other personnel management functions and initiatives. investor relations. which are responsible for back-office operations. comprising the Bank’s international operations. comprising our global client-centric treasury operations. with dedicated teams serving individual business groups and managing information security and shared infrastructure. secretarial. controls and monitoring for our domestic and overseas operations. comprising financial reporting. training. compliance. ✔ Wholesale Banking Group. comprising the corporate & investment banking. ✔ Human Resources Management Group.
Deposit products 2.ICICI Bank: Banking Functions FUNCTIONS OF ICICI ICICI bank performs following banking functions:1. Current account 9 .
Investments 8. Salary account 4. So now customers can bank at their convenience. ICICI Bank brings banking at the doorstep. Investment services 5. Savings account ICICI Bank offers customers a power packed Savings Account with a host of convenient features and banking channels to transact through. 1. Credit cards 7. NRI services 9.ICICI Bank: Banking Functions 3.1. 10 . DEPOSITS: 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. Loans 6. Transferring money 1.
11 .5. On a given day balance in the account may drop to zero. ➢ 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:1.750 per quarter. Minimum Balance: Customers need not maintain a daily minimum balance in their account. 2.000 per quarter. ICICI Bank provides its customers with various types of savings accounts keeping in mind different needs of different people. Others: ✔ Customers can give us various types of standing instructions like transferring to fixed deposit accounts at regular intervals. this allows customers all their funds at their disposal. Customers need to maintain an average balance of Rs.000 and make cash deposits up to Rs. ✔ Interest is payable half-yearly. customer enjoy the power of banking at any of the branches throughout India. 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. Anywhere Banking: Opening an account with ICICI is not exclusive to the branch the customer has walked into. 3. Internet Banking: This is a value added service that the customers are offered free of cost it allows them to check their account balance. 5. make fund transfers between self accounts as well as third party at the click of the mouse. 50. ✔ Nomination facility is available. Non-maintenance of the minimum average quarterly balance attracts a fee of Rs.000 as well.ICICI Bank: Banking Functions without the stress of waiting in queues. 4. Customers have the power to withdraw cash up to Rs. pay utility bills. 50.
All balances in the saving account above Rs. 12 . ✔ Inward remittance through Money2India for approved trusts.25.10. ✔ Free monthly account statements. the terms of the fixed deposit can be specified. There will be no limit to the value of cheque issued on a single day at RBI clearing centers. thereby not only saving on time but also saving on draft commission. and also through cheques. All chequre books are personalized. For all other centers a cap of Rs. 00. Others ✔ Internet Banking.5. 2. Clubs etc. This facility is available to those employees who do not use the overdraft facility. Multi-City Cheque Book: This facility allows its customers to skip the traditional way of transferring funds to other cities through a demand draft. ✔ Free collection of outstation cheques.000 on a single day apply. The Special Savings Account holders are issued two separate cheque books for local and outstation use. The funds however continue to be accessible around the clock through ATM. Quantum Optima Facility: Quantum Optima facility combines the liquidity of a saving account and high returns of Fixed Deposit.000 are transferred to a fixed deposit in multiples of Rs. Councils.000 on last in first out basis.000 for a time period of one year.ICICI Bank: Banking Functions Special Savings Account: The Special Savings Account has been designed keeping in mind the specific needs of organizations such as Trusts. 3. ✔ Free Anywhere banking.1. Associations. sufficient amount is transferred back from the fixed deposit by breaking in units of Rs. However one the overdraft is regularized this facility can be resumed. The cheques are payable at par at designated ICICI Bank branches across the country. Whenever the saving account balance falls below the specified limit. Societies. It provides organizations solutions with added value and is ideal for tax exempted entities. The Special Savings Account has the following salient features:1. ✔ Payroll processing for employees of the organization through ICICI Bank Salary Accounts.
ICICI Bank: Banking Functions Senior Citizen Account: The Senior Citizen Account has a few services that the Normal Savings Account does not offer.000 only. Young Stars will guide your child through the world of banking -through checking the account balance.This facility entitles the account holder to withdraw or deposit cash upto a limit of Rs. ✔ 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. ✔ Anywhere Banking . ✔ Interest is payable half-yearly. ✔ Demand Loan / overdraft against deposits will be upto 90% of the deposit. 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. ✔ Nomination facility is available. It makes banking a pleasure and of course teaches your child to manage their personal finances. ✔ The upcountry cheque collection facility for locations with ICICI Bank presence free of charge to the Senior Citizen customers. aged 1day -18 years. You can even open a recurring deposit in your child's name. ✔ Auto Invest Account ✔ Internet Banking is offered free of cost. ✔ You can give us various types of standing instructions like transferring to fixed deposit accounts at regular intervals.50. Young Stars Account: Young Stars is a banking service for children.With the pocket money that you transfer to your child's account. fun zones and special pages on the internet. ✔ An average quarterly balance of Rs 5. brought to you by ICICI Bank to help the parents meet the present and future aspirations that they hold for their child. The salient features of the Senior Citizen Account are:✔ Higher Interest Rates. you can even shop with him / her at Young Stars very own shopping page. 13 .000 across all ICICI Bank branches. Non-maintenance of the minimum average quarterly balance attracts a fee of Rs 750 per quarter.
Fixed Deposit account or Recurring Deposit account.000/b. books. 1. toys etc. 2. Minimum balance at Rs. Option of a Savings Bank account. Special privileges across select alliance partners outlets. music.per quarter for Savings Bank. Separate user ids and passwords for both parents and children b. 6. a. 9. * Available for children above the age of 10 years only. 500/. as GOI Relief Bonds have been discontinued. 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. 8. Facility of transferring funds from the Young Stars accounts to the RD to enable the parents to let their child earn more. Facilities to invest in GOI Relief Bonds and Mutual Funds. computers. Based on the prevailing rate of interest. Daily spend limits of Rs.ICICI Bank: Banking Functions Once you are done with your 'banking'. Facility to transfer funds from parent account to kid account to enable parents to inculcate savings habit amongst children. 7. the bank staff would then back calculate the installments to be deposited now till maturity. Access to special zones and links to related websites for making internet banking a memorable experience. 4. 10. Alliances with various partners to meet the child's needs in varied interest areas such as clothing. Daily withdrawals limits of Rs. Women’s Account: 14 . 3. Free personalized chequebook 5. A special Recurring Deposit account with additional features as below: a. Free Domestic Debit Card* for the child above the age of 10 years with features as below: a. 1. The parent would put forward the desired amount to be earned at the end of the tenure b.000/c. Free Internet banking. Salient features:1.
Family shield insurance ✔ Ensures the security of your family through a personal accident insurance policy ✔ For an yearly premium amount of Rs. 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. 2 lac (in case of surface accidents) or Rs.500 per quarter. your child/family can be insured for an amount of Rs. a.special account for kids to promote the savings habit in them can be opened for just for a minimum balance of Rs. Financial Planning for Children A "Young star" account . by keeping aside a small fixed amount every month.4 lac (in case of air accidents).60/-. These include ➢ Recurring Deposits ➢ Financial planning of children ➢ Family Shield Insurance In addition to these.ICICI Bank: Banking Functions The features of the account have been specially designed keeping in mind a woman's financial requirements. or just to buy that gold necklace you always wanted. a. festivals. 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 a. The account has the following features:✔ Free differentiated debit card for them ✔ Free differentiated cheque book ✔ Free internet banking 15 . marriage.
Salient feature of a normal fixed deposit:- Allows customers to open fixed deposits for periods ranging from 15 days to 10 years and a choice of two investment plans:1.000.10. Unless otherwise specifically.000 and thereafter in multiples of just Rs. Minimum Balance ✔ Customers can avail of ICICI Bank Fixed Deposits for a minimum deposit of Rs. Reinvestment ✔ Interest is compounded quarterly and reinvested with principal amount ✔ Maturity period ranges from 6 months to 10 years 1.ICICI Bank: Banking Functions ✔ Facility to transfer funds from parent account to kid account to enable parents inculcate savings habit in children 1. quarterly or half-yearly as per your convenience ✔ Maturity period ranges from 15 days to 10 years. 1. Nomination ✔ Nomination facility is available for relationships in the names of individuals.1. 16 . Traditional ✔ Interest payable monthly. nomination in deposit accounts will be at Customer ID level. 1. The Fixed Deposits can be opened for periods ranging from 15 days to 10 years.1.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. ICICI provides a Fixed Deposit that allows customers to deposit their money for just as long as you wish. ✔ Depositor(s) however has/have the right to specify different nominations at account level by completing appropriate forms. given in writing by depositors.
Transactions which are allowed are:➢ Part withdrawal of fixed deposit ➢ Full withdrawal of fixed deposit ➢ Generation of mini statement The Card will be issued in the name of primary depositor. through declaration in the appropriate form to revise the nomination during the currency of the relationship accounts with the Bank.000 and additionally deposits can be made in multiples of Rs. The depositors shall be provided with a Debit Card for transacting in fixed deposit.ATM card. by breaking the FD.20. 17 . as and when required or depositor can use the debit card to shop. The Easy Fixed Deposit: Easy Fixed Deposit is an ICICI Bank fixed deposit scheme having benefits of Debit -cum. Easy Withdrawal 2.ICICI Bank: Banking Functions ✔ Further. No separate card will be issued to joint applicant/s Easy Fixed Deposit has two options namely:1. Easy Loan a customer has to opt for one of these at the time of opening the account ➢ Tenure of deposits varies between 1 year and 10 years ➢ All deposits under this Deposit Scheme will be cumulative (reinvestment) in nature ➢ Minimum deposit amount under the Deposit Scheme is Rs.5.000 ➢ Nomination details are as in the case of normal Fixed Deposits Easy withdrawal ✔ Under this option fixed deposit shall be linked to the debit card directly ✔ The debit card can be used to withdraw money from the ATM. the applicant(s) is/are at liberty to change the nominee.
ranging from 15 days to 10 years. The balance amount earns the original rate of interest. Eligibility: 18 .1. ✔ Loan facility is available upto 90% of principal and accrued interest.100 the minimum period is 6 months and thereafter in multiples of 3 months. to suit individuals’ investment plan.000. the interest rate for the period for which deposit was with the ICICI Bank prevailing on date of deposit made. It aims to encourage savings without putting any stress on customers finances by making them to put a lump sum amount in fixed deposit in one go. ✔ Auto renewal is provided.Recurring deposits ICICI Bank's Recurring Deposits are the ideal way to invest small amounts of money every month and end up with a large saving on maturity. ✔ Safe custody of your fixed deposit receipts. The minimum balance of deposit is of Rs.ICICI Bank: Banking Functions ✔ If the deposits are prematurely withdrawn. ✔ Choice of two investment plans: Traditional or Reinvestment. 1. Partial withdrawal is permitted in units of Rs 1. The recurring deposit also attracts high rate of return that are identical to the fixed deposit rates and most importantly no TDS is applicable on it.500 and thereafter in multiples of Rs. shall be payable Easy Loan ✔ The depositors shall be provided with an overdraft facility against the Easy FD and can draw up to 75% of the Easy FD value ✔ The interest rate on the overdraft will be 2% higher than the rate on the FD ✔ The depositor shall be required to execute all loan facility documentation as specified by ICICI Bank for these purposes ✔ Cheque book will also be issued to deposit holder USP of ICICI Fixed Deposits: A wide range of tenures. nomination facility is also available.
CURRENT ACCOUNTS:Every business requires efficient banking facilities to support its business activities. Public authorities. A Current Account is one that is required by Businessman. Advices. Institutions.500 per month and thereafter. Joint stock companies. Any business that has numerous banking transactions need a current account as it. public corporations etc.Pickup and delivery of Currency / Cheque 19 . ✔ Is meant for convenience and not to save money. ICICI Bank offers premium quality service. unfolding a wide array of class products.100. in multiples of Rs. 1. Benefits of current account:✔ Unlimited Withdrawal and Deposit ✔ Unlimited Cheque book ✔ Demand Drafts and Pay orders ✔ Funds Transfer ( Local or Anywhere) ✔ Collection of Cheques/Drafts ✔ Statements. ✔ Allows running account supporting unlimited withdrawals and deposits. Daily statement by e-mail ✔ Cash withdrawal and Deposits ✔ Call center ✔ Internet Banking Added features of Current Account:✔ Multicity Cheque payment facility at over 155 centers ✔ Anywhere Banking facility ✔ Doorstep Banking .ICICI Bank: Banking Functions ✔ Resident Indian. ✔ The minimum balance of deposit is Rs. With technology leadership and service the bank is able to meet some of the most challenging financial needs of clients.
allows the customer to have customized current account based on the business requirement. without having the requirement to Current Accounts have specific requirement of Quarterly Average Balance (QAB) maintenance and in turn offer various facilities free of cost to the customer based on the QAB.ICICI Bank: Banking Functions ✔ Mobile Banking Made 2 order Current Account :Made2order current account. unlike the normal current account which is based on the quarterly balance. Some of the other facilities offered under made2order current account are as mentioned below:✔ Multi City Cheque Facility ✔ Anywhere Banking Facility ✔ Upcountry Cheque Collection ✔ Pay Orders and Demand Drafts ✔ Corporate Care Service ✔ Doorstep Banking Facility ✔ Internet Banking Facility ✔ Debit/ ATM Card ✔ Mobile Banking ✔ More Useful Facilities 20 . The made2order current account is totally flexible and can be adapted to changing business requirement. A personalized schedule of charges is derived for each customer based on: ✔ Service Required ✔ QAB as agreed to be maintained in the account ✔ Float expected in the account The made2order customers based on the services required maintain the required QAB or pay scalable volume driven fees for the services utilised.
. Investment advisory and much more. As an organization. ICICI Bank Salary Accounts benefits you in more than one ways:✔ Reduces paperwork.. ✔ Saves remittance costs. employees automatically become ICICI Bank account holders with special benefits and privileges of 8-8 banking. Eligibility 21 . With ICICI Bank Salary Accounts. Besides all of the above. ✔ More convenient than ECS. All that the organization would require to do is to send ICICI Bank an advice (in form of a cheque/debit instruction etc) for the total salary amount along with the salary details of the designated employees in a soft and hard copy format and we will credit the respective employees' accounts as per your statement of advice. The process of drawing cheques for salaries is replaced by sending a single ASCII file to the bank and the amount is directly credited into the employee’s salary account 2. ✔ Employees receive instant credit of salaries. you can opt for our Salary Accounts to enable easy disbursements of salaries and enjoy numerous other benefits too.ICICI Bank: Banking Functions 1. ✔ Free Internet Banking. Salary Account can be opened with minimum 10 employees 4. Cuts down payroll processing workload 3. 1. employees will enjoy the convenience of: ✔ Having the largest network of ATMs at their command ✔ Free 24 hour Phone Banking. Salary Accounts Salary Account is a feature rich corporate payroll account with benefits for both corporate and its employees. Instant credit of salaries ICICI Bank Salary Account is a benefit-rich payroll account for Employers and Employees.
➢ Taxes: Market research shows that one out of every three employers has been charged for a tax-related payroll error. One such 'other task' is the payroll and salary disbursement. A payroll service provider keeps you out of such statistics. 12. Top Reasons to Outsource Salary Disbursement and Payroll Processing ➢ Salary upload through a single cheque: Give a consolidated cheque of the total salary amount to ICICI Bank and a breakup of the disbursements to the employees in soft and hard copy format. This equates to billions of rupees in penalties. Outsourcing with the right payroll service provider will save your time and money. Advantages to Employers Successful business owners know that it is better to be an expert on the product or service you are selling and let someone else be the expert on other tasks. ➢ Multi-location Salary disbursal possible within ICICI Bank network: With the wide reach of ICICI Bank. Outsourcing the administrative task of payroll. ➢ Time: Organizations have better things to do with your time than calculating payroll. This equates to time taken away from revenue-producing activities. At the very least. ➢ Affordability: Consider how much time is spend managing payroll. salaries of employees’ located Pan India can be uploaded from a single point upload.0 lacs per annum and average salary per account of Rs. is one way you can invest more time into your own business and waste less time worrying about keeping up with the ever changing and complex rules and regulations governing payroll. 22 . consider the cost of computer equipment and software as well as the extensive training that is needed to run payroll internally.000 per month. Getting salary cheques out on time is not only expected.ICICI Bank: Banking Functions The organization needs to have a minimum of 25 employees and a payout of Rs 36. but also a positive reflection on your company. ➢ Profitability: Outsourcing your payroll gives organization the freedom to get back to your business.
Leave the details to an expert and focus on business. access to Phone Banking and Internet Banking. After all a happy employee is a productive employee. Advantages to employees Employees automatically become ICICI Bank Salary Account holders with special benefits and privileges and receive instant salary credit. ➢ Debit Card 23 . Confidentiality is much easier to maintain when payroll is outsourced. and a host of other services to complement their savings account. ➢ MIS: Payroll companies offer a wide array of standard reports that are informative and easy to read. so do payroll needs. Without current and on-going training in payroll compliance. outsourcing your payroll coupled with all benefits of ICICI Bank savings accounts will enhance the successful image and will make employees happy. ➢ Value Added Savings This is a unique facility which gives employees liquidity of a Savings Bank Account coupled with the high earnings of Fixed Deposits. ➢ Privacy: It can be embarrassing and detrimental to morale if the wrong eyes fall on the salary cheques. ➢ Professionalism: What better way to show your employees that the company is professional and secure. corporate card with Individual Liability (CCIL). ICICI Bank Salary Account customers will have the facility of filling up a form and getting their cheque books and debit cards immediately. Here are some of the features of ICICI Bank Salary Account: ➢ Welcome-Kit No more waiting for weeks to get a cheque book and debit cards. ➢ Flexibility: As business changes. Keep your records neat and concise with these invaluable reports. The benefits include International debit card. it's easy to make mistakes. particularly when your employees use direct credit . your company could face stiff penalties and unhappy employees to boot. Demat accounts.ICICI Bank: Banking Functions ➢ Accuracy: Even with the simplest of payrolls.
using ICICI Bank Internet Banking.ICICI Bank: Banking Functions We offer an International Debit card to our Salary Account customers to provide them access to our extensive ATM network. ➢ Free Utility Bill Payments No queues. These points can be exchanged for cash later. ➢ Reimbursement Account If you opt to disburse/reimburse the travel. which would be linked together with the debit card 24 . Interested employees can also apply for our International Debit Card 'N-Cash'. ➢ Online Funds Transfer No need for cash withdrawals and cheque deposits. The card comes with a unique points system through which the cardholder earns points every time a merchandise transaction is made. N-Cash is a Visa electron card. expenses via reimbursement accounts. office or from anywhere in the world. Now employees can pay utility bills like electricity. a reimbursement account can be opened simultaneously along with the Salary Account savings bank account. ICICI Bank's Internet Banking facility gives employees the freedom to operate their account from the convenience of their home. Now customers can also know the balance and other details of their accounts by requisitioning for it through SMS. ➢ Mobile Banking Employees can receive alerts on their mobile handsets providing them information about their ICICI Bank Accounts and ICICI Credit Cards Account. The card also allows them to shop at over 11. We give your employees the facility to transfer funds online from any part of the world. which gives the cardholder access to more than a million merchant establishments and Visa ATMs all over the world.000 merchant establishments. ➢ Free Internet Banking ICICI Bank Internet Banking. ➢ Phone Banking Employees can use our phone banking facility to do banking transactions through our customer care centers. food etc. No wasted minutes. phone bills etc.
➢ Free Remittance Facilities Salary Account customers can avail of free remittance (demand drafts. ➢ Gold Coin 25 . pay orders) up to Rs. ➢ Over draft Facility Employees get an emergency overdraft facility on request.000 on ICICI Bank network.ICICI Bank: Banking Functions already held by your employee. cheques. VISA and avail of a host of other travel related services. foreign exchange facilities and Insurance products through ICICI Bank. ➢ Relief Bonds. based on their take-home salary. buy internationally valid travelers cheques issued by Thomas Cook. the bank. ➢ Cash Delivery and Cheque Pick-up Facility If your office is located far away from our branch or ATM. ➢ Bureau de change Your employees can meet all their foreign currency needs. Mutual Funds and Insurance Salary Account customers can now invest in Government of India relief and savings bonds. 1.25. a basket of mutual funds. American Express. on request deliver cash to you or pick up your cheques to be deposited. INVESTMENT SERVICES ➢ Demat Services A Demat Account allows employees transact in shares instantaneously in a safe and secure manner. This would be adjusted in their following salary credit.
Individuals. ICICI Home Finance will not only finance the balance amount of outstanding loan but also your prepayment charges to the old housing finance company. The result: ✔ A lower EMI with the same tenure ✔ A reduced tenure with the same EMI ✔ A reduced tenure and EMI ✔ The same EMI and tenure but an additional amount as a loan 1. Each coin comes to you straight from Switzerland. ✔ Repayment tenures from 12 . who opted for housing loans in the years gone by. 15 Lakhs.000 to Rs. Refined to 99. Personal Loans: Salient Features are:✔ Loans for salaried & self employed individuals. Under this scheme.guaranteeing you its purity. which ICICI Bank brings to you. Quite a price to pay. are still servicing them at 17% to 21% per annum. customers can replace their existing old high interest loan by a cheaper (equal to applicable current rates) loan. 26 . 1. LOANS Salient Features:✔ Attractive interest rates ✔ Door-step service from enquiry stage till final disbursement ✔ Can transfer your existing high-interest rate loan ✔ Free personal accidental insurance ✔ Special 100% funding for select properties 1. Home Loan: Interest rates on home loans have come down considerably in the last few years.ICICI Bank: Banking Functions Employees can buy 24 karats Pure Gold. ✔ Loans are available from Rs.60 months. in such a case.99% fine gold and sealed with a unique Certificate of Authenticity. since one can get a loan today for around 12% per annum. 20. you can opt for a balance transfer.
utilization of the funds no interest will be charged.you can still avail our loan. The CAR OVERDRAFT product at ICICI bank converts your Car into CASH. call or through SMS. Car Loans: ICICI is the number one financier for car loans in the country. Collateral or Guarantors required. ✔ Network of more than 1500 channel partners in over 780 locations. ✔ Ride Easy Pay Easy with ICICI Bank Two Wheeler Loans.Interest is charged only on the amount utilized and the time period utilized for. ✔ All loans at the sole discretion of ICICI Bank Ltd.ICICI Bank: Banking Functions ✔ No Security.a facility to get an instant loan over the phone!! ✔ Apply for loan online. 27 . ✔ Hassle-free application process on the click of a mouse. ✔ Existing ICICI Bank Customers ride away on your favourite Two Wheeler by availing Loan on Phone-. every month pay only minimum 5% of the total utilization of the overdraft facility. repayable in convenient tenure options ranging from 6 months to 36 months. ✔ All loan repayments are done via equated monthly installments (EMI). Two Wheeler Loans ICICI provides attractive schemes at competitive interest rates. In case of non.An Overdraft limit/Cash upto 90% of the assessed value of your vehicle. Yes! All you need to do is Hypothecate your Car in their favor and they will give you: An Overdraft facility . ✔ A balance transfer facility available for those who want to retire any higher debt. ✔ Now avail Finance upto 90%* of the On Road Cost of the vehicle.No fixed Equated Monthly Installments. ✔ In an unlikely case of you’re not meeting their norms NO PROBLEM . any relative can be your co-applicant. Flexible Repayment . 1. ✔ Tie-ups with all leading automobile manufacturers to ensure the best deals. ✔ Loans can be used for any purpose with no questions asked regarding the end use of the loan. ✔ Flexible schemes & quick processing. Interest Charged only on utilization . ✔ Finance facility available for all two wheelers ranging from mopeds to motor bikes. 1.
✔ Range of products under one umbrella. ✔ Quick turnaround time. Buses. A current account will be opened and customer can withdraw money as and when they require. All customers have to do is pledge your securities in favour of ICICI Bank The Bank will then grant them an overdraft facility upto a value determined on the basis of the securities pledged by them.. ICICI offer loans against: ➢ Demat Shares ➢ RBI Relief Bond ➢ Mutual Funds Units ➢ India Millennium Deposits (IMDs) ➢ ICICI Bank Bonds ➢ Life Insurance Policies (Single Premium) 1. ✔ Preferred financier status with most of the leading manufacturers. balance transfer on high cost loans. Interest will be charged only on the amount withdrawn and for the time span utilised. 1. ✔ Funding of various products like HCVs. top up on existing loans. Farmer equipment loan 28 .ICICI Bank: Banking Functions 1. So they get instant liquidity without having to sell their securities. ✔ Simple documentation. ✔ Range of services on existing loans & extended products like funding of new vehicles. ✔ Flexible financing solutions to meet the individual requirement. Commercial vehicle loan ✔ Reaches you through more than 700 locations across the country. working capital loans & other banking products. LCVs. refinance on used vehicles. MCVs. extend product. Loan against securities Loans against Securities enable customers to obtain loans against their securities. 3 wheelers & used vehicle.
➢ Flexible repayment options in tandem with the farmer's seasonal liquidity. Quarterly and Half-yearly repayment patterns to choose from. ICICI Bank offers attractive financial packages through their excellent distribution network.ICICI Bank: Banking Functions ➢ ICICI is the preferred financier for almost all leading tractor manufacturers in the country. Loans are offered for:29 . ➢ Monthly. ICICI Bank Medical Equipment Loans supports professionals in their effort to give the best to their patients. ICICI has tie-up with leading construction equipment manufacturers for wide range of products. 2. The Bank take over existing high cost loans at competitive terms resulting in huge savings and is quick in processing due to easy formalities and one time sanction of loans for disbursement over a period of time. ➢ ICICI finances farm equipments in over 381 locations spread across the country. 1. It's our humble way of being involved in a noble profession. Construction equipment loan Having funded infrastructure for over 4 decades. The products are customized for new entrepreneur to large business houses. ➢ Details on your application status online 1. ICICI understands the need of the customers better. Medical equipment loan: Professional doctors are aware of the distinct advantages that the latest medical equipment can give their patients. Office equipment loan: ➢ Minimum documentation required ➢ Doorstep Service ➢ Competitive Interest rates ➢ Flexible repayment structure ➢ Hassle-free application process with the click of a mouse. ➢ Provides fast processing of files with easy documentation. ➢ Comfortable repayment tenures from 1 year to 6 years.
➢ Most powerful catalogue based rewards Program.000. ➢ The bank provides Competitive interest rates. ➢ Household insurance upto Rs. ➢ Our Key features are: ➢ Doorstep Service.75. ➢ Dial a draft free. ➢ Comprehensive Travel Benefits. 1. ➢ Purchase protection of Rs.40. 20 lakhs.000. ➢ Comprehensive Insurance for both primary and add-on Cards upto Rs. ICICI Bank Solid Gold Credit Card: Features:➢ Welcomed internationally at over 22 million merchant establishments.ICICI Bank: Banking Functions ➢ Purchase of New equipments.5%. ➢ Complimentary Teleoptima Calling Card. ➢ ICICI also offers flexible repayment structure. ➢ Funding in more than 150 locations across the country. ➢ Zero lost Card liability. 30 . ➢ Takeover of Existing loans. ➢ Access to Global Customer Assistance Services. CREDIT CARDS Types Of Credit Cards ICICI Offers:1. ➢ High credit and cash limits. ➢ Balance transfer at 1.
50. Features:➢ Most powerful catalogue based Rewards Program . ➢ Highest Personal Accident Insurance upto Rs. ➢ Discount of 3% on basic domestic airfares and 5% on basic international airfares through American Express (R) Travel Service Network. 25. ➢ 0% fuel surcharge ➢ American Express Selects is an exciting selection of year round offers and discounts.000.n Happiness Cards MasterCard Visa 31 MasterCard MasterCard Visa .Earn 1 reward points on every Rs. ICICI BANK . ➢ Emergency Assist services (Medical. you'll enjoy exceptional value and privileges in travel.25 you spend.ICICI Bank: Banking Functions ➢ Baggage insurance upto Rs. Wherever you find yourself in the world.40 lakhs. ➢ Mobile Alerts and Statement by E-mail 1. leisure. ➢ Hospitalization Benefit policy upto Rs.American Express® Gold Credit Card: A Privilege Card is the most powerful and exclusive International Gold Card powered by American Express services worldwide and enjoys exclusive benefits available only to select. Personal and Travel services) by American Express Global network. ➢ American Express Travelers Cheque and foreign exchange are easily available through American Express Travel Service locations free of commissions. CO-BRANDED Credit Cards:- Mohun Bagan Features Type of Ebony Airtel Silver Airtel Gold Health .000. Legal. dining and shopping.
95% Nil 2.com) 1.75% 1.95% Nil 2. INVESTMENTS ICICI Bank cares about all needs. For select products ICICI Bank also provides the ease of investing through electronic channels like ATMs and Internet (ICICIdirect.95% Nil Service Charges for 2. in India or abroad. ICICI Bank assists people to manage their finances by providing various investment options ranging from ICICI Bank Tax Saving Bonds to Equity Investments through Initial Public Offers and Investment in Pure Gold.50% 1.75% 1. 32 .75% 1.95% Nil 2.75% Rate (Offered for a period of 6 months) 1.95% Revolving Credit Limited Lost Card Nil Liability (Post reporting) Balance Transfer 1. ICICI Bank facilitates following investment products: ➢ ICICI Bank Tax Saving Bonds ➢ Government of India Bonds ➢ Investment in Mutual Funds ➢ Initial Public Offers by Corporate ➢ Investment in "Pure Gold" Customers can invest in above products through any of ICICI bank branches. ICICI Bank has created a wide range of products and services that provide customers complete financial solutions. Along with Deposit products and Loan offerings. NRI SERVICES Wherever people may be. Helping them to make the right decisions at the right time and can be rest assured that they are in the safe and trustworthy hands of ICICI bank.ICICI Bank: Banking Functions offered Acceptance International International International International International 2.
&JPY Fixed Deposit 31days.000 JPY-2.000 GBP-1.000 INR 15days-10years Savings Account10.000 INR 25. GBP.00.000 Fixed Deposit.3years USD-1.000 EUR1.00.000 Savings and Savings and Fixed Deposit fixed deposit fixed deposit 1year-10years Savings Account10. Interest is fully repatriable after deductions of tax Principal & Interest amount are fully repatriable 33 .000 JPY-2.ICICI Bank: Banking Functions Deposit Products: ➢ NRE account (Non-Resident External Account) ➢ NRO Account (Non-Resident Ordinary Account) ➢ FCNR account (Foreign Currency Non Resident Account) ➢ RFC account (Resident Foreign Currency Account) NRI ACCOUNTS AT A GLANCE Particulars Currency Type Tenure Minimum Balance NRE Account Indian Rupees NRO Account Indian Rupees FCNR Account RFC Account USD.000 EUR1.000 INR 1year. USD & GBP EURO.000 GBP-1.3years USD-1.000 INR Taxation No Tax 30% No Tax 10% plus applicable Cess & Surcharge Principal & Interest amount are fully repatriable Repatriation Principal & Principal Interest are amount is fully repatriable Repatriable subject to conditions.Fixed Deposit25.
TRANSFERRING MONEY ICICI Bank has various way through which its NRI account holding customers can transfer money and thereby has made the process of the same quicker. ➢ Offline methods: This is the traditional mode of money transfer where customers can deposit a foreign currency cheque or draft in their account in India which is sent for collection by ICICI Bank. convenient and easy. It also allows transfers into bank accounts with over 30 other banks in India free of costs. ➢ Online Method: The online methods that ICICI Bank provide is powered by their service Money2India that allows NRI account holders to transfer money into an ICICI Bank account free of cost. 34 . Demand drafts above USD 1. ICICI Bank offers a host of online as well as walk-in options to transfer money to India.ICICI Bank: Banking Functions 1.000 or equivalent issued and payable at over 1250 locations in India are absolutely free. The customers enjoy online tracking of the status of the funds.
ICICI Bank: Banking Functions Suggestions 35 .
2. 3. Maybe the service can be extended to gold card users. 36 . 4. Pamphlets: Pamphlets of various services must be given to customers as and when they start a relationship with the bank that allows them the privilege to use the same. Knowledge: All bank officials and the call center customer care executives must have full knowledge about all issues of banking to the call center revealed that the customer care executives are confused about various issues. Quick Action: Customers who have enrolled must be sent a mailer regarding location of request boxes located near their residence as soon as possible so that the enthusiasm remains with the customer he would be not willing to utilize the concept if bank does not show interest for the same. they must extend some service for the credit cards that will allow the foot fall to decrease.ICICI Bank: Banking Functions 1. Credit Card: Credit card queries at the branch are too many.
com/banklinks.icicibank. www.org. 5.org/wiki/ICICI_Bank 37 .rbi.com/ en. 4.icicibank.icicidirect.com www.htm www. 3.ICICI Bank: Banking Functions Bibliography: 1. 2.com www.banknetindia.co. 7.in/m2iNe ebusiness.aspx https://m2inet.icicibank.wikipedia. 6.in/scripts/banklinks.
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