Group Assignment

PROGRAMME: MBA
Batch: 2020-2022
Term -IV
Bank Management

Submitted by: Submitted to:

Prof. Tirthank Shah
Nihar Parikh – 191132

Bhoumil Modi – 201208

Manvi Gupta – 201221

Varun Gupta – 201359

Abhinav Kedia - 201401

 INDEX

Particulars Page Number

Introduction 1-6
Background of banking segment in India 1
Banking Segment’s Performance 3
Background of Banks 4
Products and Services 6
Part – I (Asset Liability Analysis) 7-11
Deposits v/s Borrowings 9
Investments v/s Loans & Advances 10
Domestic v/s Foreign Assets and Liabilities 10
Part – II (Financial Performance Analysis) 12-19
Gross Non-performing assets (NPAs) 13
Net Non-performing assets (NPAs) 14
CASA Ratios 15
Credit to Deposit Ratio 16
Net Interest Margin 17
Return on Assets 18
Capital Adequacy Ratio 19
Part – III (Qualitative Analysis) 20-26
Opportunities 21
Challenges Faced 23
Segmentation Strategy 24
Core Team of the three Banks 25
Introduction
Background of banking segment in India
The banking sector in India, like the Reserve Bank of India (RBI), is big and well-regulated. The
nation's economic and financial conditions are far superior to those of any other country on the
planet. According to debt, market, and amnesty studies, Indian banks are enormous and affluent.

Small financing and payment banks are two novel banking models that the Indian banking industry
has lately implemented. RBI's new steps may aid in the revitalization of the domestic banking
industry.

The greatest of the 25 countries-built India's digital payment system, as well as the Indian
Immediate Payment Service (IMPS) seems to be the only Level 5 framework in the FPII Index.

Market size

In addition to cooperative credit institutions, the Indian banking system includes 12 public sector
banks, 22 private sector banks, 46 foreign banks, 56 regional rural banks, 1485 urban cooperative
banks, and 96,000 rural cooperative banks. The total number of ATMs in India has climbed to
209,282 as of November 2020.

In FY20, public sector banks' assets totaled Rs. 107.83 lakh crore (US$ 1.52 trillion).

Bank credit increased at a CAGR of 3.57 percent from FY16 to FY20. Total credit extended in
FY20 reached $1,698.97 billion. Deposits expanded at a CAGR of 13.93 percent from FY16 to
FY20, reaching US$ 1.93 trillion in FY20.

As of June 4, 2021, the RBI reported that bank credit and deposits totaled Rs. 108.34 trillion (US$
1.48 trillion) and Rs. 151.67 trillion (US$ 2.08 trillion), respectively.

As of June 4, 2021, credit to non-food industries totaled Rs. 108.02 trillion (US$ 1.47 trillion).
Non-food industries expanded at a rate of 5.7 percent in January 2021, compared to 8.5 percent in
January 2020.

Investment / development

Significant investments and developments in the Indian banking industry include:

❖ The government's major financial inclusion campaign, the Pradhan Mantri Jan Dhan
Yojana (PMJDY), created 42.44 crore bank accounts as of June 2, 2021, with deposits in
Jan Dhan bank accounts totaling >Rs. 1.45 lakh crore (US$ 19.81 billion).

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 ❖ In answer to the RBI's warning, the Digital Lenders' Association established an updated
code of conduct for digital lending in December 2020.
❖ WhatsApp began accepting UPI payments in India on November 6, 2020, after gaining
authorization from the National Payments Corporation of India (NPCI) to ‘Go Live' on UPI
in a phased way.
❖ HDFC Bank and Apollo Hospitals announced a partnership in October 2020 to establish
the ‘Healthy Life Programme,' a complete healthcare solution that makes healthy living
accessible and affordable through Apollo's digital platform.
❖ In March 2020, India's largest lender, State Bank of India (SBI), raised $100 million in
green bonds through a private sale.
❖ The Cabinet Committee on Economic Affairs approved in February 2020 the continuation
of the process of recapitalization of Regional Rural Banks (RRBs) by providing minimum
regulatory capital to RRBs for another year beyond 2019-20 - until 2020-21 - to those
RRBs that are unable to maintain a minimum Capital to Risk Weighted Assets Ratio
(CRAR) of 9% as per regulatory norms.

Government’s Initiatives:

❖ The government would disinvest IDBI Bank and privatise two public sector banks,
according to the Union Budget 2021-22.
❖ The government suggested a fully automated GST refund module and an electronic
invoicing system in the Union Budget 2019-20, which will eliminate the requirement for a
separate e-way bill.
❖ The government successfully completed consolidation, resulting in an eight-fold reduction
in the number of public sector banks.
❖ The government of India declared the Pradhan Mantri Jan Dhan Yojana (PMJDY) an open-
ended scheme in September 2018 and introduced further incentives.
❖ By March, the Indian government planned to inject Rs. 42,000 crore (US$ 5.99 billion)
into public sector banks.

Road Ahead:

Increased infrastructure spending, faster project delivery, and the continuation of reforms are likely
to provide the banking industry a boost. All of these elements point to a strong future for India's
banking sector, as rapidly expanding enterprises will look to banks for financing.

In addition, technological advancements have pushed mobile and online banking to the forefront.
The banking industry is putting a greater emphasis on offering better services to customers and
modernizing their digital infrastructure in order to improve the overall customer experience and
give banks a competitive advantage.

Due to a five-fold rise in digital disbursements, India's digital lending reached US$ 75 billion in
FY18 and is expected to reach US$ 1 trillion by FY23.

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Banking Segment’s Performance

Source: www.ibef.org

In addition to cooperative credit institutions, the Indian banking system includes 12 public sector
banks, 22 private sector banks, 44 foreign banks, 43 regional rural banks, 1,484 urban cooperative
banks, and 96,000 rural cooperative banks. The total number of ATMs in India climbed to 213,575
in March 2021.

As of April 16, 2021, India's foreign exchange reserves stood at $582.41 billion, according to the
Reserve Bank of India. As of June 4, 2021, the RBI reported that bank credit and deposits totaled
Rs. 108.34 trillion (US$ 1.48 trillion) and Rs. 151.67 trillion (US$ 2.08 trillion), respectively.

As of June 4, 2021, credit to non-food industries totaled Rs. 108.02 trillion (US$ 1.47 trillion).

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Public sector banks' assets in FY20 totaled Rs. 107.83 lakh crore (US$ 1.52 trillion).

In FY20, total banking assets (public, private, and foreign banks) grew to US$ 2.52 trillion.

The adoption of an integrated risk management approach is becoming increasingly important for
Indian banks. Commercial banks recovered Rs. 400,000 crore (US$ 57.23 billion) in NPAs (Non-
Performing Assets) in FY19, the highest in the last four years.

The Reserve Bank of India (RBI) has decided to establish the Public Credit Registry (PCR), a
comprehensive database of credit information that will be accessible to all stakeholders. The
Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 Bill was enacted, and it is
expected to enhance the banking industry. In 2018-19, total equity funding in the microfinance
sector increased by 42 percent year on year to Rs. 14,206 crore (US$ 2.03 billion).

The number of bank accounts established under the government's major financial inclusion
initiative, the Pradhan Mantri Jan Dhan Yojana (PMJDY), as of June 2, 2021. Deposits in Jan
Dhan bank accounts totaled more than Rs. 1.45 lakh crore (US$ 19.81 billion).

Rising income is likely to increase the need for banking services in rural areas, propelling the
sector forward.

In India, the digital payments revolution will result in significant changes in the way credit is
distributed. After demonetization, debit cards have mostly supplanted credit cards as India's
preferred payment method. Unified Payments Interface (UPI) recorded 2.54 billion transactions
valued at Rs. 4.91 lakh crore (US$ 67.32 billion) in May 2021.

Backgrounds of Bank
1) Bank of India

On September 7, 1906, a highly skilled corporate group in Mumbai established the Bank of India.
The Bank of India, along with 13 other banks, was given citizenship in July 1969. Beginning with
a capital payment of 50 workers and 50 employees, the bank has experienced tremendous
development throughout the years. It has grown into a formidable organization, with strong nations
and outstanding international operations. The Bank of India is a major player among national banks
in terms of trade volume. The Bank of India now has 2609 branches in India, distributed throughout
all states and union territories, including 93 private branches. These locations are overseen by 48
zone offices. The original currency is held by the Bank of India. Since 1989, the bank has been the
first among national banks to open a branch for computers and vending machines at the

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Mahalakshmi branch in Mumbai. Bank of India was the first Indian bank to open a branch
overseas, in London, in 1946, and the first in Paris, in 1974. Overseas Bank has a broad presence,
with 23 branches and three representative offices located in major financial cities such as New
York, London, Paris, and Hong Kong, Singapore, and Tokyo.

2) ICICI Bank

ICICI Bank was founded in 1955 on the initiative of the Government of India, the World Bank,
and representatives of Indian industry. The main goal was to establish a development financial
institution capable of providing medium- and long-term project financing to Indian businesses.
ICICI's primary focus was project financing until the late 1980s. With the liberalization of the
1990s, ICICI evolved from a development financial institution to a provider of diverse financial
services. It began to offer a wide range of products and services in collaboration with its
subsidiaries and other group companies. ICICI amalgamated with its two wholly-owned retail
finance companies, ICICI Personal Financial Services Limited and ICICI Capital Services
Limited, in 2002. Following the merger, ICICI's group's financial and banking activities, including
retail and wholesale, were merged into a single organisation. ICICI Bank Limited is an Indian
multinational bank and financial services firm headquartered in Vadodara, Gujarat. Its
headquarters are in Mumbai, Maharashtra. It is one of India's Big Four banks. It provides a diverse
range of banking and financial products to corporate and retail customers through a network of
delivery channels and specialised subsidiaries. These subsidiaries provide life and non-life
insurance, investment banking, venture capital, and asset management services. The branch
network spans 5,275 branches and 15,589 ATMs in India and the 17 countries where it operates.

3) Axis Bank

Axis Bank was established in December 1993 as UTI Bank. Its registered office is in Ahmedabad,
and its corporate headquarters are in Mumbai. Manmohan Singh, India's then Finance Minister,
opened the first branch in Ahmedabad. The bank was jointly promoted by: -

a) Unit Trust of India (UTI)

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b) Life Insurance Corporation of India (LIC)

c) General Insurance Corporation

d) National Insurance Company

e) The New India Assurance Company

f) The Oriental Insurance Corporation

g) United India Insurance Company.

UTI Bank launched its first international office in Singapore in 2006. It launched an office in
Shanghai, China, the same year. It launched a branch in Dubai International Financial Centre in
2007, as well as other branches in Hong Kong.

UTI Bank changed its name to Axis Bank on July 30, 2007, and has since provided Retail Banking,
Corporate Banking, and International Banking services under this brand.

Axis Bank's initiatives include Axis Thought Factory, Asha Home Loans, eKYC, and others.

Products and Services

Although the bank is in the public sector, this bank has products and services that people can afford
in a modern bank. Strongly following the policy of wisdom and prudence, they are one of the
leaders in introducing various services and solutions for innovative banks. Its products and services
include ancillary services, cards, deposit schemes, loans, personal loans, home loans and schemes
and services for NRIs.

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 Part – A
(Asset Liability Analysis)

7
Asset Liability Analysis

1) Bank Of India

In the year 2016-17, the bank has positive gap in the time period below 30 days. After that it has
a
Positive gap. In the case of negative mismatch, funds have to be arranged from market borrowings,
which are costly. It is not a good thing for the bank.

The bank improved its condition in 2018-19, where in most of the periods it has a positive gap.
This
money can be used to invest in more avenues and generate more profit.

In 2019-20, bank again went back to same practices and the same thing continued in 2020-21 of
having positive gap being the largest and Systematic Important Domestic Bank

2) ICICI Bank

In the year 2016-17 and 2017-18, the bank has a negative gap for the period up to 5 years. In the
case of negative mismatch, funds have to be arranged from market borrowings, which are costly.
It is not a good thing for the bank.

The bank was able to improve its condition in 2018-19, but again came back to same practices in
2019-20 and same thing continued in 2020-21.

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3) Axis Bank

In all the years, the bank has positive gap in most of the buckets. It has negative gap also but
only in few buckets. This can be managed with the help of positive gap in other buckets. The
positive gap money can be traded in money market and high income can be earned.

Deposits v/s Borrowings

1) Bank of India
In the year 2015-16, deposits are 11 times than that of borrowings. It is a good
thing as deposits areusually a cheaper source of money as compared to borrowings.
The bank further increased its deposits as % of total liabilities in 2016-17, 2017-18,
2018-19 and 2019-20.

2) ICICI Bank
Deposits as % of total liabilities are continuously increasing at an increasing rate. Also,
Borrowings as a % of total liabilities is continuously decreasing. It is a good sign as
borrowings are usually costlier source of money as compared to deposits.

3) Axis Bank
Deposits as % of total liabilities are close to 20% till 2018-19. Further in 2019-20, it
increased to 35%. It is not a good sign as borrowings are usually costlier source of
money as compared to deposits.

4) Combined
By looking at all the points above, it can be said that Bank of India and ICICI bank are
managing their borrowings and deposits in the most effective way. Their deposits as %
of total liabilities are increasing continuously.

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Investments v/s Loans & Advances

1. Bank of India
Investments as a percentage of total assets are increasing year by year. It increased from
19% in 2016-17 to 25% in 2020-21. Loans and advances as a percentage of total assets
are close to 60% every year.

2. ICICI Bank
Investment as a percentage of total assets is close to 20% in all years. Loans and
advances as a percentage of total assets are close to 50% every year.

3. Axis Bank
Investment as a percentage of total assets is close to 20% till 2018-19. It rose
significantly to 38% in 2019-20. Loans and advances as percentage of total assets was
45% in 2015-16 which increased to 65%in 2016-17. It again came down to 48% in
2016-17 and then remained around it in the following years.

4. Combined
By looking at the above things, it can be said that ICICI Bank is consistently
maintaining its Investmentas a percentage of total assets close to the industry average.

Domestic v/s Foreign Assets and Liabilities

1. Bank of India
The foreign assets and liabilities of the bank are continuously decreasing in contrary to
its domesticassets and liabilities which are continuously increasing. So, we can say that
the bank is focusing on its domestic market.

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 2. ICICI Bank
The foreign assets and liabilities of the bank are continuously decreasing in contrary to
its domesticassets and liabilities which are continuously increasing. So, we can say that
the bank is focusing on its domestic market.

3. Axis Bank
The foreign assets and liabilities of the bank are continuously increasing with its
domestic assets and liabilities which are also continuously increasing. So, we can say
that the bank is focusing on both domestic market and foreign market.

4. Combined
By looking at the above things, it can be said that Axis Bank is focusing on all its market
and is getting strong everywhere as compared to the other two banks which are losing
their share in foreign market share continuously.

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 Part- B
(Financial Performance
Analysis)

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Gross-Non-Performing Assets Ratio

Particulars FY19 FY20 FY21

Axis Bank 5.9% 5.2% 3.70%
ICICI Bank 7.15% 5.87% 4.96%
Bank of India 17.79% 16.69% 13.77%

When it comes to banks, Gross Net Operating Assets is an important metric to consider. GNPA
help in analysing actual amount of NPA, before the provision & thus helps in quantum of NPA
that a bank has with respect to the percent of total assets. When we compare the GNPAs of all
three banks, we find that AXIS Bank has the lowest GNPAs, indicating that AXIS Bank is very
good at-risk management and has the most efficient collection system.

Bank of India has the highest GNPAs. Looking at the GNPA trajectory over the previous five
years, it is clear that Bank of India is not doing a good job on risk management and collection. As
a result, AXIS bank is superior in terms of GNPAs. In order to retain its superior performance in
the industry, Bank of India must focus on its GNPA, which is the highest among competitors.

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Net NPAs Ratio

Particulars FY19 FY20 FY21

Axis Bank 2.06% 1.56% 1.05%
ICICI Bank 2.06% 1.41% 1.14%
Bank of India 5.61% 3.88% 3.35%

When it comes to NNPAs, NPAs are Non-Performing Assets (NPAs) that have been provisioned
by banks to assist management in forecasting the quantity of loans that may become NPAs. It also
aids in the evaluation of a bank's overall assets, as well as the quality of its management and ability
to take action.

Furthermore, when comparing the NNPAs of the three banks studied, ICICI bank had the lowest
NNPA of the three. The ICICI bank, on the other hand, does not have the lowest GNPA. Despite
the fact that Axis bank's GNPA was lower than ICICI's, this suggests that ICICI's management is
sound and that they are better at estimating NPAs than Axis bank.

However, because Bank of India has the highest number of nonperforming assets (NPAs), the
bank's management has been particularly focused on the issue of rising NPAs.

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CASA Ratio

Particulars FY19 FY20 FY21

Axis Bank 44.20% 41.10% 42.00%
ICICI Bank 47.55% 43.43% 46.00%
Bank of India 35.90% 36.51% 39.84%

CASA ratio is an important metric to consider when examining banks since it demonstrates the
value of a bank's performance and the amount of money its customers have in the bank.
Furthermore, the CASA ratio increases bank access to low-cost funds. Furthermore, when
comparing the CASA ratios of the three banks studied, the CASA ratio of ICICI bank is higher
than the other two banks.

Indicating the bank's excellence and the public's trust in it. With a greater CASA ratio, the bank
will have easier access to lower-cost funds for its lending operations.

Second, ASIS Bank's CASA ratio has been steadily declining, indicating a bleak future for the
bank. However, because Bank of India has the lowest CASA ratios, its management has placed a
greater emphasis on boosting the CASA ratio.

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Credit to Deposit Ratio

Particulars FY19 FY20 FY21

Axis Bank 90.21% 89.27% 88.18%
ICICI Bank 89.85% 83.70% 78.68%
Bank of India 65.47% 66.41% 58.31%

Credit to Deposit ratio is an important statistic in measuring a bank's performance because it helps
to analyse the efficiency of the bank's lending. The credit to deposit ratio is the percentage of a
bank's deposit that it uses for lending.

Because lending is the bank's primary source of income, it must be higher, usually around 90%.
However, having a credit to deposit ratio of more than 100% can be problematic because it can be
difficult to control risk in the event of an unforeseen bad event.

Furthermore, when the Credit to Deposit ratios of the three banks studied are compared, the AXIS
bank has a higher Credit to Deposit ratio than the other two banks. However, because Bank of
India has the lowest credit-to-deposit ratio, its management has placed a greater emphasis on
boosting the credit-to-deposit ratio.

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Net Interest Margin Ratio

Particulars FY19 FY20 FY21

Axis Bank 2.71% 2.75% 2.93%
ICICI Bank 2.80% 3.02% 3.16%
Bank of India 2.18% 2.32% 1.96%

Net Interest margins are an important metric to consider when evaluating a bank's performance.
NIM is a representation of a bank's profitability that shows the margin it earns on its services. The
ratio of net profit to interest-earning assets is used to determine net interest margins.

Furthermore, when comparing the net interest margins of the three banks studied, the NIM of
ICICI bank has the highest NIM and has been able to maintain this position for a long time without
falling, demonstrating ICICI bank's ability to access cheaper funds and management ability to
maintain greater profitability.

Taking into account that Bank of India has the lowest net interest margin ratios, the bank's
management has placed a greater emphasis on growing the net interest margin. Although Axis
Bank has the second lowest NIM and has been on a downward trend, this is cause for concern
because it indicates that the bank may not be able to maintain or expand its profitability.

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Return on Assets

Particulars FY19 FY20 FY21

Axis Bank 0.60% 0.20% 0.66%
ICICI Bank 0.34% 0.72% 1.31%
Bank of India -0.89% -0.45% 0.29%

Return on assets is an important statistic to consider when examining a bank's performance. Return
on assets shows how much profit a bank earns per unit of its assets. Banks are leveraged entities,
thus they have a low return on investment (ROI), but they can make a lot of money.

Furthermore, when the Return on Assets of the three banks studied is compared, the ICICI bank's
Return on Assets is greater, with the greatest ROA of 1.31 percent.

Taking into account that Bank of India has the lowest Return on Assets ratios, the bank's
management has placed a greater emphasis on raising Return on Assets.

Bank of India's inability to appropriately utilize its assets in order to create profit reflects the bank's
management's quality and competency.

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Capital Adequacy Ratio

Particulars FY19 FY20 FY21

Axis Bank 15.80% 17.50% 19.12%
ICICI Bank 16.90% 16.10% 18.87%
Bank of India 14.19% 13.10% 14.19%

Taking into account the return on assets Capital Adequacy is an important indicator in measuring
a bank's performance since it helps comprehend the bank's cushion for depositors if the bank
underperforms and has to go bankrupt.

The capital adequacy ratio is the amount of money a bank keeps on hand as a percentage of its
risk-weighted assets.

The minimum Capital Adequacy Ratio required by Basel III is 10.5 percent. Furthermore, when
comparing the Capital Adequacy Ratio of the three banks studied, the AXIS bank's Capital
Adequacy Ratio is superior, with the greatest Capital Adequacy Ratio ROA of 19.12 percent.

Furthermore, because Bank of India has the lowest Capital Adequacy Ratio, its management has
placed a greater emphasis on boosting the Capital Adequacy Ratio.

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 Part – C
(Qualitative Analysis)

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Opportunities:

1) Bank of India

Over the years, BOI has grown internationally as Indian banks find remuneration in NRIs. This
worldwide footprint ensures further BOI growth. The government planned to collect UID or
Aadhar with bank accounts for immediate payment of benefits. This brought over 125 million
additional clients to the banking sector as a whole. The financial sector is rapidly developing. In
recent years, the total loans and deposits at a CAGR have correspondingly risen by around 21
and 20 percent. This offered the possibility of introducing and expanding the market share of
new financial services. By delivering better and larger items with exceptional services for its
products the Bank of India may upgrade its total product portfolio. Rural enterprises and internet
expansion are really strong possibilities for the bank

2) ICICI Bank

The banking industry will increase by 17 percent in the next three years. ICICI Bank may thus
participate and endeavour to enhance its market share in this expansion. Government has
undertaken several rural population programs and unbanked banks. As a result, the notion of
bank saving and investment in financial goods in rural regions is growing. In rural regions, 60%
of the people of India dwell in rural areas, and there is a big potential. Technology may be best
utilized for rural market penetration. Through its app, net banking and technical upgrades, ICICI
can also focus on a new population. It can buy non-performing banks for the expansion and
enhancement of the bank's financial strength. The Bank can contact many b-schools in India for
educated and qualified staff in financial goods and banking services. The minimal quantity of
unperforming assets is available to the ICICI Bank. Many other banks, but not ICICI, have a big
problem with these NPAs and may concentrate on other major concerns, except NPAs.

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3) Axis Bank

Rural expansion is an excellent chance for the Axis bank. It might be the bank's biggest market.
With the support for the Axis bank app, the bank's online development in the Indian banking
market may be expedited. Opportunities are creative banking solutions in this new era of
banking. This might assist attract and expand the market share of customers. Axis Bank's ETM
idea was developed and attracted many new clients in the personal banking sector. The new
customer base was Axis Bank. This notion may be encouraged and can be reached everywhere
throughout the country. New Axis bank branches were opened, which may assist to expand and
reach the public. Because of the prevailing informal lending channels and the lack of access to
formal lending to a substantial part of the rural population. Geographical growth might therefore
provide the firm a chance.

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Challenges Faced:

1) Bank of India

Due to the pandemic, govt has reduced the restrictions for the new licensing which has resulted
into new market entrants, now BOI has to be ready for facing the competition. With the time
passing it is seen that non-performing assets (NPA) are increasing which may even lead to the
bankruptcy of the bank, to avoid this bank should be careful while issuing loan.

2) ICICI Bank

As there are new emerging payments platform ICICI should make their application and website
more use simple to use so that transaction of money becomes easy. Instead of competing with the
micro finance institutions ICICI should collaborate with them so that the competition can be
reduced in rural area. Bank should timely ask for feedback so that the number of customers
shifting to other banks can be decreased. Internal and external strategies should be given equal
importance in order to compete with other banks.

3) Axis Bank

Whenever RBI issues new rules and regulation bank be should be ready to ready for it. After the
Axis Bank entered the Indian market, many other foreign banks have also followed the same so
Axis Bank should differentiate itself from other banks which can be done with the help of
innovation. Axis Bank should collaborate with govt banks so that they can also provide the
similar schemes to their customers.

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Segmentation:

1) Bank of India

As the public sector banks, the Bank of India does not particularly target a certain market group,
but it seeks to serve individuals of any socioeconomic class, geographical location, etc. In
addition to the standard services offered to clients en masse, the Bank of India provides a
specific range of services for corporate clients and rural consumers.

2) ICICI Bank

On the basis of employment, income, geographical area and age, ICICI bank segmented the
target market. ICICI also promotes itself in these areas with a variety of tailored products. ICICI,
for example, started a trial program in 6 localities in Tamil Nadu to gain rural clients where the
company supplied rural consumers with remittance services, financial literacy programs and low-
cost ATMs to serve the rural market.

3) Axis Bank

Psychographic factors, such as income & occupation, age & social class etc., are used for the
Axis Bank market segmentation. It aims at business class & highly knowledgeable clients whose
time is essential and whose banking with banks would be preferable.

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Core teams:

1) Bank of India

a. Shri Atanu Kumar Das: - Managing Director and CEO

b. Shri P R Rajagopal: - Executive Director

c. Shri Swarup Dasgupta: - Executive Director

d. Shri M Karthikeyan: - Executive Director

e. Ms Monika Kalia: - Executive Director

f. Ms Vandita Kaul: - Govt. Nominee Director

g. Shri Subrata Das: -RBI Nominee Director

h. Shri P. N. Prasad: -Shareholder Director

2) ICICI Bank

a. Mr. Sandeep Bakhshi: -Managing Director & CEO

b. Mr. Anup Bagchi: -Executive Director

c. Mr. Sandeep Batra: -Executive Director

d. Ms. Vishakha Mulye: -Executive Director

e. Mr. Girish Chandra Chaturvedi: -Non-Executive (part-time) Chairman

f. Mr. Hari L. Mundra: -Independent Director

g. Mr. Lalit Kumar Chandel: -Government Nominee Director

h. Mr. S. Madhavan: -Independent Director

i. Ms. Neelam Dhawan: -Independent Director

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j. Mr. Radhakrishnan Nair: -Independent Director

k. Ms. Rama Bijapurkar: -Independent Director

l. Mr. B. Sriram: -Independent Director

m. Mr. Uday Chitale: -Independent Director

3) Axis Bank

a. Rakesh Makhija: - Director & Non-Executive (Part time) Chairman

b. Amitabh Chaudhary: - Managing Director & Chief Executive Officer

c. S Vishvanathan: - Independent Non- Executive Director

d. Ketaki Bhagwati: -Independent Non- Executive Director

e. Stephen Pagliuca: -Nominee Director

f. Girish Paranjpe: - Independent Non- Executive Director

g. T.C. Suseel Kumar: -Non- Executive (Nominee) Director

h. Meena Ganesh: - Independent Non- Executive Director

i. Gopalaraman Padmanabhan: - Independent Non- Executive Director

j. Ashish Kotecha: - Alternate Director to Shri Stephen Pagliuca

k. Vasantha Govindan: - Non- Executive (Nominee) Director

l. Prof. S. Mahendra Dev: - Independent Non- Executive Director

m. Rajiv Anand: - Executive Director (Wholesale Banking)

n. Rajesh Dahiya: - Executive Director (Corporate Centre)

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