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A STUDY ON THE EFFECTIVENESS OF SERVICES PROVIDED
TO PRIVATE BANKING CUSTOMERS OF ICICI BANK,
THIRUVALLA

By

RAHUL RAJU
Reg. No 71103631031

of

KONGU ENGINEERING COLLEGE,
Perundurai, Erode – 638 052.

A PROJECT REPORT

Submitted to the
FACULTY OF MANAGEMENT SCIENCES

In partial fulfillment of the requirements
for the award of the degree

of

MASTER OF BUSINESS ADMINISTRATION

JUNE, 2005

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BONAFIDE CERTIFICATE

Certified that this project report titled “A STUDY ON THE

EFFECTIVENESS OF SERVICES PROVIDED TO PRIVATE BANKING

CUSTOMERS OF ICICI BANK, TIRUVALLA” is the bonafied work of

Mr. RAHUL RAJU who carried out the research under my supervision. Certified

further that to the best of my knowledge the work reported herein does not form

part of any other project report or dissertation on the basis of which a degree or

award was conferred on an earlier occasion on this or any other candidate.

______________ _____________
Supervisor Director

Viva – Voce held on …………………….

External Examiner Internal Examiner

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ABSTRACT

The study is mainly to find out the effectiveness of services provided
to Private Banking customers of ICICI Bank, Thiruvalla. This is done by finding
out the awareness level, usage and satisfaction of all the products and facilities
provided to Private Banking customers.

The research study conducted is descriptive in nature and the
population for this study is 148. Primary data is collected to meet the
requirements. For collecting the data, a structured questionnaire method is
used as an instrument. The questionnaire is based on multiple choice and close-
ended questions.

The study is mainly based on the primary data and the required
primary data were collected through the structured questionnaire from 148
respondents. In this study simple percentage and weighted Average is used to
interpret the data collected.

The difficulty encountered while conducting the survey was time
constraint difficulty in getting appointments of Private Banking customers and
internal banking restrictions do curtail my ability in meeting all customers within
the given time. The main findings are:

 46% of the respondents are related with ICICI for less than a year, 34% for 1
to 2 years, and 20% for 2 to 3 years.

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 Private Banking customers feel that customer service is the main degree of
significance to deal with ICICI .It is found that interest rate is not at all
significant for the Private Banking customers

 Among the respondents 100% are aware of the Private Banking status. Fully
awareness for Avoiding charges is 32%, Better loan deals is 30%,
Dedicated relationship officer is 72%, Enhanced withdrawal facility is 66%,
Foreign exchange is 18%, Gold credit card is 50%, Investment options is
28%, Locker facility is 40%, Mobile banking is 36% and Phone banking is
28%.

 The most frequently used channel for banking with ICICI is through ATM. It is
found that Phone banking is the least frequently used channel for
banking with ICICI.

 Usage level of Avoiding charges is 46%, Better loan deals is 70%, Dedicated
relationship officer is 84%, Enhanced withdrawal facility is 66%, Foreign
exchange is 34%, Gold credit card is 48%, Investment options is 94%,
Locker facility is 34%, Mobile banking is 56% and Phone banking is 36%.

 Dedicated relationship officer is the most satisfied privileged banking
services. It is found that Foreign exchange is the least satisfied privileged
banking services.

The findings of the study can be used as a basis for further research in
the field of universal banking.

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ACKNOWLEDGEMENT

I here by acknowledge my sincere gratitude to the Kongu Institute of

Technology Trust and Dr. A.M. NATARAJAN, B.E., M.Sc., (Engg), Ph.D.,

Principal, Kongu Engineering College and the Management for giving me an

opportunity to undergo MBA Degree Course and to undertake this project work.

I wish to express my deep sense of gratitude to our Director

Mr. SURESH KUMAR, M.Sc., M.B.A.

I take this opportunity to express my indebtedness and profound

sense of gratitude to my faculty guide Mr. R.S.RAJAN, Asst Professor,

Department of Management Studies for his valuable guidance.

I express my deepest sense of gratitude to the inspired guidance

rendered by my project guide Mr. JUBIN EAPEN, Sales manager and

Mr. Firoz Sadik Sait, Relationship Manager, ICICI Bank Ltd, Thiruvalla. Without

their help and assistance this project would not have seen the dawn of success.

Lastly I would like to acknowledge the wholehearted support of my

parents, faculty members and friends who helped me at various stages in

completing this project work successfully.

3 Private Banking 6 2 AIM OF THE PROJECT 2.1 Type of research design 9 3.1 Company Profile 1 1.2 Suggestions 38 5.3 Sampling Frame 9 3.5 Statistical tools used 10 4 ANALYSIS AND INTERPRETATION 11 5 FINDINGS.3 Conclusion 39 APPENDIX REFERENCES .1 Findings 36 5. LIST OF TABLES vii LIST OF CHARTS viii 1 INTRODUCTION TO THE COMPANY 1.2 Sampling Design 9 3. No. vi CONTENTS Chapter Page Particulars No.3 Limitations 8 3 RESEARCH METHODOLOGY 3.1 Objectives 7 2.4 Data Collection method 10 3. SUGGESTIONS AND CONCLUSION 5.2 Scope of the study 7 2.2 Product Profile 3 1.

12 2 Significance of various reasons to bank with ICICI Bank: 14 3 Respondents awareness of Private Banking status 17 4 Respondents’ awareness of all the privileged banking 19 services 5. 1 Respondents banking relationship with ICICI Bank. Different channels used by respondents for banking with 22 ICICI Bank 6. Weighted average for Significance of various reasons to 33 bank with ICICI Bank 10. Weighted average for Satisfaction level of respondents 35 on the privileged Banking services . vii LIST OF TABLES TABLE PAGE TITLE NO. Weighted average for Respondent’s frequency of using 34 different channels for banking with ICICI Bank 11. Respondents’ frequency of using different channels for 24 banking with ICICI Bank 7 Privileged banking services availed by the respondents 27 8. NO. Satisfaction level of respondents on the privileged 30 banking services 9.

Chart showing satisfaction level of respondents on 32 the privileged banking services . Chart showing respondents’ frequency of using 26 different channels for banking with ICICI Bank 7 Chart showing the privileged banking services 29 availed by the respondents 8. 1 Chart showing the respondents banking relationship 13 with ICICI Bank. Chart showing different channels used by 23 respondents for banking with ICICI Bank 6. NO. 2 Chart showing significance of various reasons to 16 bank with ICICI Bank: 3 Chart showing respondents awareness of Private 18 Banking status 4 Chart showing respondents’ awareness of all the 21 privileged banking services 5. viii LIST OF CHARTS CHART PAGE TITLE NO.

1 CHAPTER 1 INTRODUCTION 1. the Government of India and representatives of Indian industry. ICICI Bank became the first Indian company and the first bank or financial institution from Non-Japan Asia to be listed on the NYSE. and the move towards universal banking. the managements. The Principal objective was to create a development financial institution for providing medium term and long-term project financing to Indian businesses. 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. 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. and would create the optimal legal structure for the ICICI universal banking strategy. In 1999. . In the 1990’s. both directly and through a number of subsidiaries and affiliates like ICICI Bank. After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry.1 COMPANY PROFILE History ICICI was formed in 1955 at the initiative of the World Bank.

with ICICI Bank. 2004 and profit after tax of Rs.214 Crore at December 31. branches in Singapore and Bahrain and representative offices in the United States. Current Status ICICI Bank is India’s second –largest bank with total assets of about Rs. 1.880 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. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002. 2004 (Rs 1. and by the High Court of judicature at Mumbai and the Reserve Bank of Indian in April 2002. by the High Court of Gujarat at Headband in March 2002. 2 In October 2001. Consequent to the merger. have been integrated in a single entity. ICICI personal Financial Services Limited and ICICI capital services limited.637 Crore in fiscal 2004). 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. . China. the Boards of Director of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly owned retail finance subsidiaries. Bangladesh and South Africa. the ICICI group’s financing and banking operations. ICICI Bank currently has subsidiaries in the United Kingdom and Canada. United Arab Emirates.391 crore in the nine months ended December 31. 146. ICICI Bank has a network of about 530 branches and extension counters and over 1. both wholesale and retail.

customer can also apply for the ICICI Bank Gold Credit Card. 1. which comes with pre-approved limits.2 PRODUCT PROFILE ICICI Bank Private Banking offers a comprehensive range of products & services: 1. Customer can also avail of loans against fixed deposits (up to 90%) at attractive rates.2.1 Fixed Deposits ICICI Bank offers competitive interest rates with the added comfort at safety and liquidity. . In addition.3 Home loans Customer can enjoy attractive interest rates and the convenience of doorstep service form enquiry to disbursement.2.2 Debit cards & Credit cards Customer can avail a free personalised photo signature international debit card with enhanced cash withdrawal and point of sales limits. 1. The facility to transfer customers existing higher interest rate loan to ICICI Bank is also available personal loans. 3 1.2.

99% into nationally certified pure gold Coins.5 Demat / web trade: ICICI Bank offers the best value for money through competitively priced service charges for online share trading services from ICICI Direct. 1. security. 1. 8gms and 10gm. . 4 Personal Loans are given without any collateral.2.2.4 Auto loans ICICI Bank enjoys the preferred financier status with 12 leading manufacturers /dealers and has special tie-ups with most manufacturers – dealers to ensure the highest quality service to the customers. A balance and transfer facility is also available. The attractive packing makes these coins appropriate gifting option too.6 ICICI Bank Gold Coins: ICICI Bank offers 24 carat 99. 1. com with a 3 in 1 account consisting of a demat. brokerage and an ICICI Bank account.2. and guarantor and without reasons for the end use of funds. in denominations of 5 gms.

2.2. 5 1.9 Internet Banking & Mobile Banking ICICI Bank Internal Banking service is a convenient remote banking facility that uses sophisticated multilayered security architecture with digital certification.2.7 Bureau De Change: ICICI Bank offer American Express & Thomas Cook Travellers cheques at preferential exchange rates to Private Banking clients Multicity cheque book facility. 1. No further authentication would be required for customers’ non-financial transactions. 1. to prevent unauthorized access Mobile banking keeps customers informed through regular mobile alerts. .8 Exclusive phone banking: A call from customers registered mobile to ICICI Bank Customer Care centre would directly connect them to the Private Banking phone banking officer. A payable-at-par chequebook is provided to customers free of charge making outstation financial transactions just a signature away. It also provide customers with a dedicated toll-free number.

. 6 1. 5.000 (saving + FD Balance) For the privileged Private Banking Clients ICICI Bank offers the entire range of products and services. This is delivered through a single point contact and a separate interaction area in the branch to ensure the highest quality service.00.3 Private Banking Private Banking is a status given to the customers who can maintain a minimum balance account of Rs.

in understandings the effectiveness of various facilities provided to Private Banking customers and would help them in improving these services. Thiruvalla. . awareness and satisfaction levels of Private Banking customers. 2. usage and satisfaction levels on various services and facilities provided to Private Banking customers. 7 CHAPTER 2 AIM OF THE PROJECT 2. This has been done by preparing a questionnaire. The study would help in identifying the usage patterns. The study would help ICICI Bank Thiruvalla.2 SCOPE OF THE STUDY The study aims to study the effectiveness of services provided to the Private Banking customers of ICICI Bank. which questions the respondents on their awareness.1 OBJECTIVES To study the awareness and usage level of all the products and facilities provided to Private Banking customers of ICICI Bank and to study the satisfaction level of Private Banking customers of ICICI Bank.

Profile of the customers being contacted is similar. .3 LIMITATIONS OF THE STUDY The study is basically confined to the branches in central Tranvancore the sample is not comprehensive. Difficulty in getting appointments from Private Banking customers within given time. 8 2.

Thiruvalla. 3.2 SAMPLING DESIGN 3. The population size is 148. 9 CHAPTER 3 RESEARCH METHODOLOGY 3. .3 SAMPLING FRAME The frame refers to the customers who have been given Private Banking status by ICICI Bank. 3.2.1 Population under study The Private Banking customers of ICICI Bank Thiruvilla branch are the targeted respondents for the study. Descriptive research design is adopted for analysing the data.1 TYPE OF RESEARCH DESIGN A research design is purely and simply framework or a plan for study that guides is collection of data.

 Awareness of Private Banking status  Usage level of Private Banking facilities  Awareness of various facilities provided to Private Banking Customers  Satisfaction level of Private Banking Customers 3.5 STATISTICAL TOOLS USED In the study simple percentage and weighted Average is used to interpret the data collected. The data was collected based on interview technique and personally handed out structured questionnaire questions were resented is exactly the same words is the same order to all the respondents.1 Feature of Questionnaire The questionnaire was designed in order to check those features. 3. Such a questionnaire facilitates easy administration & tabulation and analysis closed ended questionnaire was used in the project. 10 3.4 DATA COLLECTION METHOD Data collection is the most impeccant aspects in the research methodology. The questionnaire was conceived in such a way that the questions as well as the answers were standardized.4. This is accomplished by employing fixed alternative. .

The inferences given below the table will makes the reader to understand the problem as well as the solution to the problem. . 11 CHAPTER 4 ANALYSIS AND INTERPRETATION The collected data is analysed through simple percentage. weighted Average and charts are used to interpret the data.

34% for 1 to 2 years. . 12 TABLE NO. and 20% for 2 to 3 years. 1 TABLE SHOWING THE RESPONDENTS BANKING RELATIONSHIP WITH ICICI BANK Banking Relationship Percentage Less than 1 year 46 1 to 2years 34 2 to 3 years 20 INTERPRETATION 46% of the respondents are related with ICICI for less than a year.

13 Chart 1 Chart showing the respondents banking relationship with ICICI Bank 20% 46% 34% Less than 1 year 1 to 2years 2 to 3 years .

14 TABLE NO. 62% feel it as very significant and 20% see it as significant reason to bank with ICICI. 38% feel it as very significant. 18% of the respondents see Customer service as extremely significant. . - Trust 18 32 24 20 6 INTERPRETATION 6% of the respondents see Convenience as extremely significant. 2 CHART SHOWING SIGNIFICANCE OF VARIOUS REASONS TO BANK WITH ICICI BANK Significanc Extremely Very Least e of various Significant Insignificant Significant Significant Significant reasons Convenience 6 38 40 16 - Customer 18 62 20 . - Service Facilities 12 20 56 12 - Interest Rate 6 30 18 40 6 Security 12 40 48 . 40% see it as significant and 16% feel it as least significant reason to bank with ICICI.

12% of the respondents see Security as extremely significant. 15 12% of the respondents see Facilities as extremely significant. 40% feel it as least significant and 6% see it as insignificant reason to bank with ICICI. 18% of the respondents see Trust as extremely significant. 20% feel it as very significant. 6% of the respondents see Interest rate as extremely significant. 56% see it as significant and12% feel it as least significant reason to bank with ICICI. 18% see it as significant. 40% feel it as very significant and 48% see it as significant reason to bank with ICICI. 32% feel it as very significant. 24% see it as significant. . 20% feel it as least significant and 6% see it as insignificant reason to bank with ICICI. 30% feel it as very significant.

16 Chart 2 Chart showing significance of various reasons to bank with ICICI Bank 100 12 6 6 16 20 20 80 40 48 40 56 24 60 62 18 40 40 32 38 20 30 20 18 12 12 18 6 6 0 Convenience Customer Facilities Interest Rate Security Trust Service Extremely Significant Very Significant Significant Least Significant Insignificant .

3 TABLE SHOWING RESPONDENTS AWARENESS OF PRIVATE BANKING STATUS Awareness of Private Percentage Banking Status Yes 100 No - INTERPRETATION Among the respondents 100% are aware of the Private Banking status. 17 TABLE NO. .

18 Chart 3 Chart showing respondents awareness of Private Banking Status 0% 100% Yes No .

56% are partially aware and 12% are not aware of this service. 52% are partially aware and 18% are not aware. 30% are fully aware of Better loan deals. 66% are fully aware of Enhanced withdrawal facility and 34% are partially aware. 4 TABLE SHOWING RESPONDENTS’AWARENESS OF ALL THE PRIVILEGED BANKING SERVICES Partially Privileged banking services Fully aware Not aware aware Avoiding charges 32 56 12 Better loan deals 30 52 18 Dedicated relationship officer 72 28 - Enhanced withdrawal facility 66 34 - Foreign exchange 18 30 52 Gold credit card 50 40 10 Investment options 28 72 - Locker facility 40 36 24 Mobile banking 36 52 12 Phone banking 28 44 28 INTERPRETATION 32% are fully aware of Avoiding charges facility. . 19 TABLE NO. 72% are fully aware of dedicated relationship officer and 28% are partially aware.

40% are fully aware of Locker facility. 36% are partially aware and 24% are not aware of this service. 36% are fully aware of Mobile banking. 40% are partially aware and 10% are not aware of this service. 52% are partially aware and 12% are not aware of this service. 44% are partially aware and 28% are not aware of this service. . 28% are fully aware of Phone banking. 20 18% are fully aware of Foreign exchange facility. 28% are fully aware of Investment options and 72% are partially aware. 50% are fully aware of Gold credit card facility. 30% are partially aware and 52% are not aware of this service.

21 Chart 4 Chart showing respondents’ awareness of all the privileged banking services: 100 12 10 12 90 18 24 28 34 28 80 52 70 40 72 52 60 56 52 36 50 44 40 72 66 30 30 50 20 40 36 32 30 28 28 10 18 0 Investment Gold credit banking banking Locker Better loan relationship exchange Avoiding charges Dedicated Enhanced Mobile Phone facility withdrawal Foreign options deals card Fully aw are Partially aw are Not aw are .

branch. mobile 16 ATM. branch. relationship officer 12 INTERPRETATION 34% of the respondents use ATM. branch. 16% use ATM. branch. 22 TABLE NO. branch and relationship officer. relationship officer 34 ATM. 16% use ATM. 5 TABLE SHOWING DIFFERENT CHANNELS USED BY RESPONDENTS FOR BANKING WITH ICICI BANK Channels used for banking Percentage ATM. branch. branch. branch. internet and mobile. branch. phone 22 ATM. . relationship officer and phone. relationship officer. branch. mobile. 12% make use of ATM. mobile and relationship officer. relationship officer 16 ATM. internet. internet. internet and relationship officer. 22% use ATM.

relationship officer .branch. 23 Chart 5 Chart showing different channels used by respondents for banking with ICICI Bank 12% 16% 34% 16% 22% Atm.branch.branch.relationship officer.mobile.relationship officer Atm. phone Atm.relationship officer Atm.branch.internet.branch.internet.mobile Atm.

68 - Banking Mobile 6 22 6 66 - Banking Phone 6 6 10 78 - Banking Relationship 10 20 28 26 16 Officer INTERPRETATION 10% of the respondents use ATM daily. 24 TABLE NO. 54% use weekly. . 6 CHART SHOWING RESPONDENTS’ FREQUENCY OF USING DIFFERENT CHANNELS FOR BANKING WITH ICICI BANK Frequency of using Daily Weekly Fortnightly Monthly Never channels ATM 10 54 28 8 - Branch . 12% of the respondents use branch weekly. 46% use fortnightly and 42% use branch monthly. 28% use fortnightly and 8% use the ATM’s monthly. 12 46 42 - Internet 26 6 .

and 68% use the internet banking monthly. . 10% use fortnightly. 6% use weekly. 10% of the respondents use the relationship officer daily. 16% never use the relationship officer. and 78% use the phone banking monthly. 22% use weekly. 25 26% of the respondents use internet banking daily. 6% use fortnightly. 28% use fortnightly. 20% use weekly. 6% of the respondents use phone banking daily. 6% of the respondents use mobile banking daily. and 66% use the mobile banking monthly. 26% use monthly. 6% use weekly.

26 Chart 6 Chart showing respondents’ frequency of using different channels for banking with ICICI Bank 100 8 16 90 80 28 42 26 70 68 66 78 60 50 28 40 54 46 6 6 30 20 22 10 20 26 10 12 6 10 6 6 10 0 ATM Branch Internet Mobile Phone Relationship Banking Banking Banking Officer Daily Weekly Fortnightly Monthly Never .

.7 TABLE SHOWING THE PRIVILEGED BANKING SERVICES AVAILED BY THE RESPONDENTS Privileged banking Availed Not Availed services availed Avoiding charges 46 54 Better loan deals 70 30 Dedicated relationship 84 16 officer Enhanced withdrawal facility 66 34 Foreign exchange 34 66 Gold credit card 48 52 Investment options 94 6 Locker facility 34 66 Mobile banking 56 44 Phone banking 36 64 INTERPRETATION 46% of the respondents have availed for avoiding charges. 27 TABLE NO. while 54% have not.

while 66% have not. 56% of the respondents have availed for mobile banking. 66% of the respondents have availed for enhanced withdrawal facility. while 6% have not. . 34% of the respondents have availed for locker facility. while 34% have not. 94% of the respondents have availed for Investment options. while 44% have not. while 16% have not. while 66% have not. 34% of the respondents have availed for foreign exchange. 84% of the respondents have availed for dedicated relationship officer. 48% of the respondents have availed for gold credit card. 6% of the respondents have availed for phone banking. 28 70% of the respondents have availed for better loan deals. while 52% have not. while 30% have not. while 64% have not.

29 Chart 7 Chart showing the privileged banking services availed by the respondents 100 6 90 16 30 34 80 52 44 54 70 66 66 64 60 50 94 40 84 70 66 30 48 56 46 20 34 34 36 10 0 Better loan withdrawal Investment Locker Gold credit Avoiding relationship exchange banking banking facility Enhanced charges Dedicated Mobile Foreign Phone options deals card Availed Not Availed .

and 54% are uncertain. 30% are uncertain. 6% of the respondents are highly satisfied with better loan deals. and 16% are dissatisfied. 48% are satisfied. 30 TABLE NO. . 26% are satisfied. 8 TABLE SHOWING SATISFACTION LEVEL OF RESPONDENTS ON THE PRIVILEGED BANKING SERVICES Services satisfied Highly Satisfied Uncertain Dis Satisfied satisfied Avoiding charges 20 26 54 Better loan deals 6 48 30 16 Dedicated relationship officer 40 44 16 Enhanced withdrawal facility 22 48 30 Foreign exchange 28 66 6 Gold credit card 14 34 52 Investment options 4 82 6 8 Locker facility 18 16 66 Mobile banking 50 44 6 Phone banking 28 64 8 INTERPRETATION 20% of the respondents are highly satisfied with charges avoiding facility.

16% are uncertain. 16% are satisfied. and 8% are dissatisfied. 66% are uncertain. 14% of the respondents are highly satisfied with gold credit card. 6% are uncertain. 8% are dissatisfied. 28% of the respondents are satisfied with phone banking. 22% of the respondents are highly satisfied with enhanced withdrawal facility. 31 40% of the respondents are highly satisfied with dedicated relationship officer. 44% are satisfied. 6% are dissatisfied. 18% of the respondents are highly satisfied with locker facility. 50% of the respondents are satisfied with mobile banking. 48% are satisfied. . 82% are satisfied. 6% are dissatisfied. 34% are satisfied. 44% are uncertain. 64% are uncertain. 30% are uncertain. 4% of the respondents are highly satisfied with investment options. 52% are uncertain. 66% are uncertain. 28% of the respondents are satisfied with foreign exchange.

32 Chart 8 Chart showing satisfaction level of respondents on the Privileged banking services 100 6 8 6 8 90 16 16 6 30 80 54 52 44 70 30 66 60 44 66 64 50 48 82 40 26 48 34 30 16 50 20 40 10 20 22 28 18 28 6 14 0 withdrawal 4 Gold credit Avoiding Better loan relationship Enhanced exchange banking banking Investment Locker charges facility Dedicated Phone Mobile Foreign options deals card Highly Satisfied Satisfied Uncertain Dissatisfied Highly Dissatisfied .

33 TABLE NO. It is found that Interest Rate is not so significant for the Private Banking customers. . 539 Trust 135 188 108 58 9 498 INTERPRETATION From the table it is found that customer service is the main reason for banking with ICICI. - Service Facilities 90 116 249 36 . 494 Customer 590 135 368 87 . The next degree of significance to deal with ICICI is Security. Trust. Facilities. 9 WEIGHTED AVERAGE ANALYSIS SIGNIFICANCE OF VARIOUS REASONS TO BANK WITH ICICI BANK Weight ages given: Extremely Significant = 5 Very Significant = 4 Significant = 3 Least Significant = 2 Insignificant = 1 Significance Extremely Very Least In- of various Significant Total Significant Significant Significant significant reasons Convenience 45 224 177 48 . Convenience. and Interest Rate respectively. 491 Interest Rate 45 176 81 118 9 429 Security 90 236 213 . .

Relationship Officer. 72 204 124 . 10 RESPONDENTS’ FREQUENCY OF USING DIFFERENT CHANNELS FOR BANKING WITH ICICI BANK Weight ages given: Daily = 5 Weekly = 4 Fortnightly = 3 Monthly = 2 Never = 1 Frequency of using Daily Weekly Fortnightly Monthly Never Total channels ATM 75 320 123 24 . The next frequently used channels are Internet Banking. Branch. 200 - Banking Mobile 398 45 132 27 194 - Banking Phone 356 45 36 45 230 - Banking Relationship 419 75 120 123 78 23 Officer INTERPRETATION From the table it is found that most frequently used channel for banking with ICICI is through ATM. TABLE 11 . 400 Internet 431 195 36 . Mobile Banking. and Phone Banking respectively. It is found that Phone Banking is the least frequently used channel for banking with ICICI. 34 TABLE NO. 542 Branch .

It is found that Foreign exchange is the least satisfied privileged banking services. Gold credit card. 164 294 18 476 Gold credit card 105 200 231 . 536 Investment options 30 484 27 24 565 Locker facility 130 96 294 . 542 Better loan deals 45 284 132 48 509 Dedicated 295 260 72 . 164 285 24 423 INTERPRETATION From the table it is found that Dedicated relationship officer is the most satisfied privileged banking services. 35 SATISFACTION LEVEL OF RESPONDENTS ON THE PRIVILEGED BANKING SERVICES Weight ages given: Highly Satisfied = 5 Satisfied = 4 Uncertain = 3 Dissatisfied = 2 Highly Dissatisfied= 1 Services satisfied Highly Satisfied Uncertai Dis Total Satisfied n satisfied Avoiding charges 150 152 240 . and Foreign exchange respectively. Mobile banking. The next satisfied privileged banking services are Enhanced withdrawal facility. Locker facility. 627 relationship officer Enhanced 165 284 132 . 296 195 18 509 Phone banking . CHAPTER 5 . Phone banking. Investment options. Better loan deals. Avoiding charges. 520 Mobile banking . 581 withdrawal facility Foreign exchange .

Foreign exchange is 18%.better loan deals is 30%.The next degree of significance to deal with ICICI is Security. Trust.1 FINDINGS  46% of the respondents are related with ICICI for less than a year. Convenience. 36 FINDINGS. 34% for 1 to 2 years. . It is found that Interest Rate is not so significant for the Private Banking customers. SUGGESTIONS AND CONCLUSION 5.  Fully awareness for avoiding charges is 32%. Investment options is 28%. and 20% for 2 to 3 years. Mobile banking is 36% and Phone banking is 28%. Gold credit card is 50%.  Among the respondents 100% are aware of the Private Banking status. and Interest Rate respectively. Enhanced withdrawal facility is 66%.  Private Banking customers feel that customer service is the main reason for banking with ICICI . Facilities. Locker facility is 40%. Dedicated relationship officer is 72%.

Investment options. branch. Phone banking. It is found that Phone Banking is the least frequently used channel for banking with ICICI. It is found that Foreign exchange is the least satisfied privileged banking services. Branch. branch and relationship officer. relationship officer and phone. Dedicated relationship officer is 84%.  Dedicated relationship officer is the most satisfied privileged banking services. Investment options is 94%. Locker facility. branch. mobile and relationship officer  The most frequently used channel for banking with ICICI is through ATM. 12% make use of ATM. Enhanced withdrawal facility is 66%. and Phone Banking respectively. Better loan deals. branch.  Usage level of Avoiding charges is 46%. internet and relationship officer. Foreign exchange is 34%. branch. 5. 37  34% of the respondents use ATM. and Foreign exchange respectively. Locker facility is 34%. Gold credit card. Mobile banking. Better loan deals is 70%. 16% use ATM. 22% use ATM. Gold credit card is 48%. Mobile banking is 56% and Phone banking is 36%. 16% use ATM. The next frequently used channels are Internet Banking. internet and mobile. Relationship Officer.2 SUGGESTIONS . Avoiding charges. Mobile Banking. The next satisfied privileged banking services are Enhanced withdrawal facility.

 It is suggested that the company should use effective methods such as conducting seminars.. reduce the eligibility criteria to become a Private Banking customer etc.. cocktail party etc… to make the Private Banking customers aware of all the privileges provided to them.  It is suggested that the company should come out strategic decisions to increase the usage level of all the facilities provided to Private Banking customers.3 CONCLUSION .  It is suggested that the company should use effective strategies to bring more customers under the Private Banking umbrella such as door step service.  It is suggested that the company should give proper training to the persons in the Phone banking and try to reduce time lag in transaction through Phone banking. 5. 38  It is found that interest rate is not so significant for the Private Banking customers to deal with ICICI Bank.  Try to reduce the cost occurs during Foreign exchange transaction. Private Banking meets. Most of the customers want to keep money safely. so they want more investment options which is short term as well as easily accessible.

Also the area such as increasing the effectiveness of privileges provided to Private Banking customers is to be adhered. usage and satisfaction level of Private Banking customers is quite low. 39 From the survey it is understood that the awareness. It is also clear that customers have different needs. . so they are adhered to limited facilities provided to them.

Erode doing my second year MBA. I am a student of Kongu Engineering College. What are the reasons for banking with ICICI Bank? Can you please give the degree of significance of each? Extremely Very Significant Least Insignificant Significant Significant Significant Convenience      Customer      Service Facilities      Interest Rate      Security      Trust      Others      (Please Specify) . Your true response will be of great importance for my research work. How long have you been banking with ICICI Bank?  Less than 1 year  1 to 2years  2 to 3 years  More than 3 years 2. In this regard kindly spend few minutes in answering this questionnaire. QUESTIONNAIRE Name ……………………………… Contact no. ……………………………… Address ……………………………… ……………………………… ……………………………… Date ……………………………… 1. As part of partial fulfillment of my degree I am doing a research on the effectiveness of services provided to private banking customers by ICICI Bank.

3. Are you aware of all the privileged banking services provided by ICICI bank? Can you please identify them? Fully aware Partially aware Not aware Avoiding charges    Better loan deals    Dedicated relationship    officer Enhanced withdrawal    facility Foreign exchange    Gold credit card    Investment options    Locker facility    Mobile banking    Phone banking    5. How frequently do you use these channels? Daily Weekly Fortnightly Monthly Never ATM      Branch      Internet Banking      Mobile Banking      Phone Banking      Relationship      . Are you aware of your private banking status?  Yes  No 4. What are the different channels used for banking with ICICI Bank?  ATM  Branch  Internet Banking  Mobile Banking  Phone Banking  Relationship Officer 6.

Officer 7. Availed Not Availed Avoiding charges   Better loan deals   Dedicated relationship   officer Enhanced withdrawal   facility Foreign exchange   Gold credit card   Investment options   Locker facility   Mobile banking   Phone banking   8. Highly Satisfied Uncertain Dissatisfied Highly Satisfied Dissatisfied Avoiding charges      Better loan deals      Dedicated      relationship officer Enhanced      withdrawal facility Foreign exchange      Gold credit card      Investment options      Locker facility      Mobile banking      Phone banking      . Which of the following features have attracted you the most? Kindly rate them. Which of the privileged banking services provided by ICICI. have you availed? Kindly recognize them.

Thank you for spending your precious time and effort in contributing towards the success of this research. .

Kothari Marketing Research Kinner & Taylor MAGAZINES 1. . Business Today.R. 2. REFERENCES Website : www. The Hindu Business Line.com BOOKS Research methodology C.icicibank. Industrial Economist 3.