i

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
 ii

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

 iii

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.
 iv

 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.
 v

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.

 vi

CONTENTS

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

LIST OF TABLES

TABLE PAGE
TITLE
NO. NO.

1 Respondents banking relationship with ICICI Bank. 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. Different channels used by respondents for banking with 22

ICICI Bank

6. Respondents’ frequency of using different channels for 24

banking with ICICI Bank

7 Privileged banking services availed by the respondents 27

8. Satisfaction level of respondents on the privileged 30

banking services

9. Weighted average for Significance of various reasons to 33

bank with ICICI Bank

10. Weighted average for Respondent’s frequency of using 34

different channels for banking with ICICI Bank

11. Weighted average for Satisfaction level of respondents 35

on the privileged Banking services
 viii

LIST OF CHARTS

CHART PAGE
TITLE
NO. NO.

1 Chart showing the respondents banking relationship 13

with ICICI Bank.

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. Chart showing different channels used by 23

respondents for banking with ICICI Bank

6. 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. Chart showing satisfaction level of respondents on 32

the privileged banking services
 1

CHAPTER 1

INTRODUCTION

1.1 COMPANY PROFILE

History

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 1990’s, 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 Bank became 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 universal banking strategy.
 2

In October 2001, the Boards of Director 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 Headband in March 2002, and by
the High Court of judicature at Mumbai and the Reserve Bank of Indian 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.

Current Status

ICICI Bank is India’s second –largest bank with total assets of about Rs.
146,214 Crore at December 31, 2004 and profit after tax of Rs. 1,391 crore in the
nine months ended December 31, 2004 (Rs 1,637 Crore in fiscal 2004). ICICI
Bank has a network of about 530 branches and extension counters and over
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.

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.
 3

1.2 PRODUCT PROFILE

ICICI Bank Private Banking offers a comprehensive range of products

& services:

1.2.1 Fixed Deposits

ICICI Bank offers competitive interest rates with the added comfort at
safety and liquidity. Customer can also avail of loans against fixed deposits (up to
90%) at attractive rates.

1.2.2 Debit cards & Credit cards

Customer can avail a free personalised photo signature international

debit card with enhanced cash withdrawal and point of sales limits. In addition,
customer can also apply for the ICICI Bank Gold Credit Card, which comes with
pre-approved limits.

1.2.3 Home loans

Customer can enjoy attractive interest rates and the convenience of

doorstep service form enquiry to disbursement. The facility to transfer customers
existing higher interest rate loan to ICICI Bank is also available personal loans.
 4

Personal Loans are given without any collateral, security, and

guarantor and without reasons for the end use of funds. A balance and transfer
facility is also available.

1.2.4 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.

1.2.5 Demat / web trade:

ICICI Bank offers the best value for money through competitively
priced service charges for online share trading services from ICICI Direct, com
with a 3 in 1 account consisting of a demat, brokerage and an ICICI Bank
account.

1.2.6 ICICI Bank Gold Coins:

ICICI Bank offers 24 carat 99.99% into nationally certified pure gold
Coins, in denominations of 5 gms, 8gms and 10gm. The attractive packing
makes these coins appropriate gifting option too.
 5

1.2.7 Bureau De Change:

ICICI Bank offer American Express & Thomas Cook Travellers

cheques at preferential exchange rates to Private Banking clients Multicity
cheque book facility.

A payable-at-par chequebook is provided to customers free of charge

making outstation financial transactions just a signature away.

1.2.8 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.
No further authentication would be required for customers’ non-financial
transactions. It also provide customers with a dedicated toll-free number.

1.2.9 Internet Banking & Mobile Banking

ICICI Bank Internal Banking service is a convenient remote banking

facility that uses sophisticated multilayered security architecture with digital
certification, to prevent unauthorized access Mobile banking keeps customers
informed through regular mobile alerts.
 6

1.3 Private Banking

Private Banking is a status given to the customers who can maintain a

minimum balance account of Rs. 5,00,000 (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.
 7

CHAPTER 2

AIM OF THE PROJECT

2.1 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.

2.2 SCOPE OF THE STUDY

The study aims to study the effectiveness of services provided to the

Private Banking customers of ICICI Bank, Thiruvalla. This has been done by
preparing a questionnaire, which questions the respondents on their
awareness, usage and satisfaction levels on various services and facilities
provided to Private Banking customers.

The study would help in identifying the usage patterns, awareness

and satisfaction levels of Private Banking customers. The study would help
ICICI Bank Thiruvalla, in understandings the effectiveness of various facilities
provided to Private Banking customers and would help them in improving these
services.
 8

2.3 LIMITATIONS OF THE STUDY

The study is basically confined to the branches in central

Tranvancore the sample is not comprehensive. Profile of the customers being
contacted is similar.

Difficulty in getting appointments from Private Banking customers

within given time.
 9

CHAPTER 3

RESEARCH METHODOLOGY

3.1 TYPE OF RESEARCH DESIGN

A research design is purely and simply framework or a plan for study

that guides is collection of data. Descriptive research design is adopted for
analysing the data.

3.2 SAMPLING DESIGN

3.2.1 Population under study

The Private Banking customers of ICICI Bank Thiruvilla branch are

the targeted respondents for the study. The population size is 148.

3.3 SAMPLING FRAME

The frame refers to the customers who have been given Private
Banking status by ICICI Bank, Thiruvalla.
 10

3.4 DATA COLLECTION METHOD

Data collection is the most impeccant aspects in the research

methodology. 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.

The questionnaire was conceived in such a way that the questions as

well as the answers were standardized. This is accomplished by employing
fixed alternative. Such a questionnaire facilitates easy administration &
tabulation and analysis closed ended questionnaire was used in the project.

3.4.1 Feature of Questionnaire

The questionnaire was designed in order to check those features.

 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.
 11

CHAPTER 4

ANALYSIS AND INTERPRETATION

The collected data is analysed through simple percentage, weighted

Average and charts are used to interpret the data. The inferences given below the
table will makes the reader to understand the problem as well as the solution to the
problem.
 12

TABLE NO. 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, 34%
for 1 to 2 years, and 20% for 2 to 3 years.
 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. 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 - -

Trust 18 32 24 20 6

INTERPRETATION

6% of the respondents see Convenience as extremely significant, 38%

feel it as very significant, 40% see it as significant and 16% feel it as least
significant reason to bank with ICICI.

18% of the respondents see Customer service as extremely significant,

62% feel it as very significant and 20% see it as significant reason to bank with
ICICI.
 15

12% of the respondents see Facilities as extremely significant, 20% feel

it as very significant, 56% see it as significant and12% feel it as least significant
reason to bank with ICICI.

6% of the respondents see Interest rate as extremely significant, 30%

feel it as very significant, 18% see it as significant, 40% feel it as least significant
and 6% see it as insignificant reason to bank with ICICI.

12% of the respondents see Security as extremely significant, 40% feel

it as very significant and 48% see it as significant reason to bank with ICICI.

18% of the respondents see Trust as extremely significant, 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.
 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
 17

TABLE NO. 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.
 18

Chart 3
Chart showing respondents awareness of Private Banking
Status

0%

100%

Yes No
 19

TABLE NO. 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, 56% are partially aware
and 12% are not aware of this service.

30% are fully aware of Better loan deals, 52% are partially aware and
18% are not aware.

72% are fully aware of dedicated relationship officer and 28% are
partially aware.

66% are fully aware of Enhanced withdrawal facility and 34% are
partially aware.
 20

18% are fully aware of Foreign exchange facility, 30% are partially
aware and 52% are not aware of this service.

50% are fully aware of Gold credit card facility, 40% are partially aware
and 10% are not aware of this service.

28% are fully aware of Investment options and 72% 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, 52% are partially aware and 12%
are not aware of this service.

28% are fully aware of Phone banking, 44% are partially aware and 28%
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

 22

TABLE NO. 5
TABLE SHOWING DIFFERENT CHANNELS USED BY RESPONDENTS FOR
BANKING WITH ICICI BANK

Channels used for banking Percentage

ATM, branch, relationship officer 34
ATM, branch, relationship officer, phone 22
ATM, branch, internet, mobile 16
ATM, branch, internet, relationship officer 16
ATM, branch, mobile, relationship officer 12

INTERPRETATION

34% of the respondents use ATM, branch and relationship officer, 22%
use ATM, branch, relationship officer and phone, 16% use ATM, branch, internet
and mobile, 16% use ATM, branch, internet and relationship officer, 12% make use
of ATM, branch, mobile and relationship officer.
 23

Chart 5
Chart showing different channels used by respondents for
banking with ICICI Bank

12%
16% 34%

16%
22%

Atm,branch,relationship officer Atm,branch,relationship officer, phone

Atm,branch,internet,mobile Atm,branch,internet,relationship officer
Atm,branch,mobile,relationship officer
 24

TABLE NO. 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 46 42 -

Internet
26 6 - 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, 54% use weekly, 28% use
fortnightly and 8% use the ATM’s monthly.

12% of the respondents use branch weekly, 46% use fortnightly and
42% use branch monthly.
 25

26% of the respondents use internet banking daily, 6% use weekly, and
68% use the internet banking monthly.

6% of the respondents use mobile banking daily, 22% use weekly, 6%

use fortnightly, and 66% use the mobile banking monthly.

6% of the respondents use phone banking daily, 6% use weekly, 10%

use fortnightly, and 78% use the phone banking monthly.

10% of the respondents use the relationship officer daily, 20% use
weekly, 28% use fortnightly, 26% use monthly, 16% never use the relationship
officer.
 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

 27

TABLE NO.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, while 54%

have not.
 28

70% of the respondents have availed for better loan deals, while 30%
have not.

84% of the respondents have availed for dedicated relationship officer,

while 16% have not.

66% of the respondents have availed for enhanced withdrawal facility,

while 34% have not.

34% of the respondents have availed for foreign exchange, while 66%
have not.

48% of the respondents have availed for gold credit card, while 52%
have not.

94% of the respondents have availed for Investment options, while 6%

have not.

34% of the respondents have availed for locker facility, while 66% have
not.

56% of the respondents have availed for mobile banking, while 44%
have not.

6% of the respondents have availed for phone banking, 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

 30

TABLE NO. 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, 26% are satisfied, and 54% are uncertain.

6% of the respondents are highly satisfied with better loan deals, 48%
are satisfied, 30% are uncertain, and 16% are dissatisfied.
 31

40% of the respondents are highly satisfied with dedicated relationship

officer, 44% are satisfied, 16% are uncertain.

22% of the respondents are highly satisfied with enhanced withdrawal

facility, 48% are satisfied, 30% are uncertain.

28% of the respondents are satisfied with foreign exchange, 64% are
uncertain, 8% are dissatisfied.

14% of the respondents are highly satisfied with gold credit card, 34%
are satisfied, 52% are uncertain.

4% of the respondents are highly satisfied with investment options, 82%

are satisfied, 6% are uncertain, and 8% are dissatisfied.

18% of the respondents are highly satisfied with locker facility, 16% are
satisfied, 66% are uncertain.

50% of the respondents are satisfied with mobile banking, 44% are
uncertain, 6% are dissatisfied.

28% of the respondents are satisfied with phone banking, 66% are
uncertain, 6% are dissatisfied.
 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. 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 - 494
Customer 590
135 368 87 - -
Service
Facilities 90 116 249 36 - 491
Interest Rate 45 176 81 118 9 429
Security 90 236 213 - - 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. The next degree of significance to deal with ICICI is
Security, Trust, Convenience, Facilities, and Interest Rate respectively. It is
found that Interest Rate is not so significant for the Private Banking customers.
 34

TABLE NO. 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 - 542
Branch - 72 204 124 - 400
Internet 431
195 36 - 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. The next frequently used channels are
Internet Banking, Relationship Officer, Branch, Mobile Banking, and Phone
Banking respectively. It is found that Phone Banking is the least frequently used
channel for banking with ICICI.

TABLE 11
 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 - 542
Better loan deals 45 284 132 48 509
Dedicated 295 260 72 - 627
relationship officer
Enhanced 165 284 132 - 581
withdrawal facility
Foreign exchange - 164 294 18 476
Gold credit card 105 200 231 - 536
Investment options 30 484 27 24 565
Locker facility 130 96 294 - 520
Mobile banking - 296 195 18 509
Phone banking - 164 285 24 423

INTERPRETATION

From the table it is found that Dedicated relationship officer is the

most satisfied privileged banking services. The next satisfied privileged banking
services are Enhanced withdrawal facility, Investment options, Avoiding
charges, Gold credit card, Locker facility, Better loan deals, Mobile banking,
Phone banking, and Foreign exchange respectively. It is found that Foreign
exchange is the least satisfied privileged banking services.

CHAPTER 5
 36

FINDINGS, SUGGESTIONS AND CONCLUSION

5.1 FINDINGS

 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.

 Private Banking customers feel that customer service is the main

reason for banking with ICICI .The next degree of significance to
deal with ICICI is Security, Trust, Convenience, Facilities, and
Interest Rate respectively. It is found that Interest Rate is not so
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%.
 37

 34% of the respondents use ATM, branch and relationship officer,

22% use ATM, branch, relationship officer and phone, 16% use
ATM, branch, internet and mobile, 16% use ATM, branch, internet
and relationship officer, 12% make use of ATM, branch, mobile
and relationship officer

 The most frequently used channel for banking with ICICI is

through ATM. The next frequently used channels are Internet
Banking, Relationship Officer, Branch, Mobile Banking, and Phone
Banking respectively. 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. The next satisfied privileged banking services
are Enhanced withdrawal facility, Investment options, Avoiding
charges, Gold credit card, Locker facility, Better loan deals, Mobile
banking, Phone banking, and Foreign exchange respectively. It is
found that Foreign exchange is the least satisfied privileged
banking services.

5.2 SUGGESTIONS
 38

 It is found that interest rate is not so significant for the Private

Banking customers to deal with ICICI Bank. Most of the customers
want to keep money safely, so they want more investment options
which is short term as well as easily accessible.

 It is suggested that the company should use effective strategies to

bring more customers under the Private Banking umbrella such as
door step service, reduce the eligibility criteria to become a Private
Banking customer etc...

 It is suggested that the company should use effective methods

such as conducting seminars, Private Banking meets, 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.

 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.

 Try to reduce the cost occurs during Foreign exchange

transaction.

5.3 CONCLUSION
 39

From the survey it is understood that the awareness, usage and

satisfaction level of Private Banking customers is quite low. It is also clear that
customers have different needs, so they are adhered to limited facilities
provided to them. Also the area such as increasing the effectiveness of
privileges provided to Private Banking customers is to be adhered.
 I am a student of Kongu Engineering College, Erode doing my second year
MBA. 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.
In this regard kindly spend few minutes in answering this questionnaire. Your
true response will be of great importance for my research work.

QUESTIONNAIRE

Name ………………………………
Contact no. ………………………………
Address ………………………………
………………………………
………………………………
Date ………………………………

1. 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. 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)
3. Are you aware of your private banking status?

 Yes  No

4. 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. What are the different channels used for banking with ICICI Bank?

 ATM  Branch  Internet Banking

 Mobile Banking  Phone Banking  Relationship
Officer

6. How frequently do you use these channels?

Daily Weekly Fortnightly Monthly Never

ATM     
Branch     
Internet Banking     
Mobile Banking     
Phone Banking     
Relationship     
 Officer

7. Which of the privileged banking services provided by ICICI, have you

availed? Kindly recognize them.

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. Which of the following features have attracted you the most? Kindly
rate them.

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

Website : www.icicibank.com

BOOKS

Research methodology C.R.Kothari

Marketing Research Kinner & Taylor

MAGAZINES

1. Business Today.
2. Industrial Economist
3. The Hindu Business Line.