EXECUTIVE SUMMARY

Private banking is a concept which is new and fast emerging in the world of
banking where changes have become a necessity in order for banks to
survive in this competitive environment vis--vis not only from the public
and private sector banks but also from the foreign banks. The objective of
the research is to explore the various products, which a private banker deals
into and the systematic process involved to match client requirements with
the right kind of product.
Through this research one of the main objectives is to explore the reason
why most of the banks are injecting private banking as business profile to
their set of service offerings.
Though private banking evolved in late 80s in Asia, in India its not more
than 5 years old. ICICI started it in Aug 2002 and since then it has been a
remarkable success. Today there are enormous solutions to cater client needs
but what suits best to a client is where private banking fits in. Every client
will have different needs, liking and preferences. So a customized portfolio
for every client is the need of the day.
This research will highlight more on the product portfolio of ICICI Private
Banking, how they have changed or innovatively structured to be attractive
and competitive.

INTRODUCTION
The banking section will navigate through all the
aspects of the Banking System in India. It will discuss
upon the matters with the birth of the banking
concept in the country to new players adding their
names in the industry in coming few years.
The banker of all banks, Reserve Bank of India (RBI), the Indian Banks
Association (IBA) and top 20 banks like IDBI, HSBC, ICICI, ABN AMRO,
etc. has been well defined under three separate heads with one page
dedicated to each bank. However, in the introduction part of the entire
banking cosmos, the past has been well explained under three different heads
namely:
History of Banking in India
Nationalization of Banks in India
Scheduled Commercial Banks in India
The first deals with the history part since the dawn of banking system in
India. Government took major step in the 1969 to put the banking sector into
systems and it nationalized 14 private banks in the mentioned year. This has
been elaborated in Nationalization Banks in India. The last but not the least
explains about the scheduled and unscheduled banks in India. Section 42 (6)
(a) of RBI Act 1934 lays down the condition of scheduled commercial
banks. The descriptions along with a list of scheduled commercial banks are
given on this page.