A

SUMMER INTERNSHIP REPORT

ON

“ELECTRONIC PAYMENTS IN BANKING INDUSTRY”

AT

ICICI BANK

Submitted By:

MOHAMMED MUSTAFA
Ht. No. 1609 – 21 – 672 – 059

Under The Guidance Of

DR. SYED HAMID MOHIUDDIN QUADRI

(ASSOCIATE PROFESSOR AND HEAD)

INTERNSHIP REPORT SUBMITTED IN PARTIAL FULFILMENT OF THE AWARD OF

MASTER OF BUSINESS ADMINISTRATION

(INFORMATION TECHNOLOGY)

LORDS INSTITUTE OF ENGINEERING AND

TECHNOLOGY
(AFFILIATED TO OSMANIA UNIVERSITY - HYDERABAD)

(2021 - 2023)
1
 TABLE OF CONTENTS

PAGE
S. NO DESCRIPTION
NUMBERS

1. ABOUT ICICI BANK 4

2. WORK BRIEF OF INTERNSHIP 18

DAILY OVERVIEW OF INTERNSHIP ACTIVITIES

3. 19
FOR 15 DAYS

4. INTERNSHIP SKILLS 21

5. CONCLUSION 22

2
 ACKNOWLEDGMENTS

I express my sincere gratitude to my guide MR. G. GIRISH RATHI, Branch

Manager of ICICI BANK, Hyderabad for sparing his valuable time in giving the valuable
information and suggestions all through, for the successful completion of the internship.

I would like to express my gratitude for all the people, who extended unending Support
at all stages of the internship.

This report is a product of not only my sincere efforts but also the guidance and Moral
support given by the management of ICICI BANK

I wish to express my sincere thanks to Dr. SYED HAMID MOHIUDDIN QUADRI,

(ASSOCIATE PROFESSOR AND HEAD)) and also the management and staff of my
college LORDS INSTITUTE OF ENGINEERING AND TECHNOLOGY (Affiliated to
Osmania University - Hyderabad), for providing the guidance and support.

Last but not least, I express my sincere gratitude to my parents and all the employees
at ICICI BANK, who has directly or indirectly contributed to the successful completion of the
internship.

MOHAMMED MUSTAFA
HT. NO. 1609 – 21 – 672 – 059

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 ABOUT ICICI BANK
ICICI Bank Ltd (ICICI Bank) provides personal and corporate banking, investment banking,
private banking, venture capital, life and non-life insurance solutions, securities broking, and
asset management services to corporate and retail clients, high-net-worth individuals, and
SMEs. It offers a wide range of products such as deposits accounts including savings and
current accounts, and resident foreign currency accounts; investment products; and consumer
and commercial cards. ICICI Bank offers to lend for home purchase, commercial business
requirements, automobiles, personal needs, and agricultural needs. The bank offers services
such as foreign exchange, remittance, import and export financing, advisory, trade services,
personal finance management, cash management, and wealth management. It has an
operational presence in Europe, Middle East, and Africa (EMEA); the Americas, and Asia.
ICICI Bank is headquartered in Mumbai, Maharashtra, India.

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. Until the late 1980s, ICICI primarily focused its activities on project finance,
providing long-term funds to a variety of industrial projects. With the liberalization of the
financial sector in India in the 1990s, ICICI transformed its business from a development
financial institution offering only project finance to a diversified financial services provider
that, along with its subsidiaries and other group companies, offered a wide variety of products
and services. As India’s economy became more market-oriented and integrated with the world
economy, ICICI capitalized on the new opportunities to provide a wider range of financial
products and services to a broader spectrum of clients. ICICI Bank was incorporated in 1994
as a part of the ICICI group. In 1999, ICICI became the first Indian company and the first bank
or financial institution from non-Japan Asia to be listed on the New York Stock Exchange.

The issue of universal banking, which in the Indian context meant conversion of long-term
lending institutions such as ICICI into commercial banks, had been discussed at length in the
late 1990s. Conversion into a bank offered ICICI the ability to accept low-cost demand deposits
and offer a wider range of products and services, and greater opportunities for earning non-
fund based income in the form of banking fees and commissions. 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
4
optimal strategic alternative for both entities, and would create the optimal legal structure for
ICICI group's universal banking strategy. The merger would enhance value for ICICI
shareholders through the merged entity's access to low-cost deposits, greater opportunities for
earning fee-based income and the ability to participate in the payments system and provide
transaction-banking services. The merger would enhance value for ICICI Bank shareholders
through a large capital base and scale of operations, seamless access to ICICI's strong corporate
relationships built up over five decades, entry into new business segments, higher market share
in various business segments, particularly fee-based services, and access to the vast talent pool
of ICICI and its subsidiaries.

ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Punjab
National Bank and Bank of Baroda. The bank has subsidiaries in the United Kingdom, Russia,
and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and
Dubai International Finance Centre; and representative offices in United Arab Emirates, China,
South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The company's UK subsidiary
has established branches in Belgium and Germany.

Indian banks are trying to make your life easier. Not just bill payment, you can make
investments, shop or buy tickets and plan a holiday at your fingertips.
ICICI Bank tells us, “Our Internet Banking base has been growing at an exponential
pace over the last few years. Currently around 78% of the banks customer base is registered
for Internet Banking.”

ICICI Bank says that online bill payment service and fund transfer facility have been their
most popular online services. Credit cards users have a lot in store. Railway pass investing
through Internet banking.

Online banking can also be a great friend for lazy investors. Now, investors with
interlinked demat account and bank account can easily trade in the stock market (+) plus ICICI
even give you the facility to purchase mutual funds directly from online banking system,
Recharging your prepaid phone, shopping at your fingertips, Real Time Gross Settlement
(RTGS), National Electronic Fund Transfer (NEFT).
ICICI Bank, the country’s second largest bank, has seen a big jump in transactions
outside the branches. Chanda Kochhar, MD and CEO of the bank, says only 15% of

5
transactions on average take place through the branches. “The rest are happening outside,” she
says.
ATM is the oldest of the alternative banking channels and enjoys the highest level of
acceptance among customers. The number of ATMs in India has doubled in the past three
years. Currently, there are more than 100,000 ATMs, around 70% of them in urban locations
(See New Age Banking). Global research firm Celent expects the number of ATMs to double
by 2026, with more than 50% being set up in small towns.

“Today, ATM provides more than cash withdrawal. Apart from fixed deposits, cheque
book requests and balance enquiries, there are also enhanced banking services,” says Shivaji
Chatterjee, vice-president, Hughes Communications India, which helps banks create their
ATM networks.

ICICI Bank Online Banking Services provide the largest private bank in India right here at
your desktops. Banking becomes a pleasure as the transactions and services become instant
with ICICI Bank online Internet banking. The services provided are totally secure and unique.
These cover online account transactions and operations, credit card and account applications
and payments, share trading and investments through mutual funds, bill payments, and
statement generation and a virtual demo of each service. See in brief in final report.

ROLE OF CUSTOMER WHEN USING E-BANKING:

 You can access ICICIBank.com only by using your User ID and Password. During the first
login attempt, it is mandatory to change both passwords - login and transaction – which
would have been mailed to you by the bank.
 If you forget your password, you will have written to us using the "Email Us" option. The
Bank will then issue a new password and send it to your mailing address as per our records.
Kindly check with your branch that this address is updated
 Make sure no one can see the account login name or password you are entering when you
log on toICICIBank.com.
 Logout of ICICIBank.com before moving on to other Websites.
 Before leaving the PC please "close" the browser.
 Do not write your ICICIBank.com login name or password anywhere.
 Do not leave your login name and password such that someone sitting at your computer
could see them.
 Never reveal your ICICIBank.com login name and password to anyone (no representative
6
 of ICICI Bank will ever ask you for your ICICIBank.com password).
 Notify ICICI Bank immediately if you notice any unusual account activity.
 Keep all documents that include your account information in a secure location.
 When you login you can view the date and time of your last log in.

FEATURES OF ICICI BANK FOR INTERNET BANKING

• Balance enquiry and statement
• Transfer fund online
• Card to card fund transfer
• Use debit card online
• Prepaid mobile recharge
• Subscribe for mobile banking
• Link bank account to ATM
• Request a cheque book
• Stop payment

E BANKING PRODUCTS OFFERED BY ICICI BANK:

 Automated Teller Machines

 Credit Cards

 Debit Card

 Smart Cards

 Electronic Funds Transfer (EFT) System, Cheques Truncation Payment System

 Mobile Banking

 Banking, Internet Banking

 Telephone banking

 Tab Banking

ICICI AUTOMATED TELLER MACHINE

An automated teller machine, also known as an automated banking machine ( cash

machine) is an electronic telecommunications device that enables the customers of a financial

7
institution to perform financial transactions, particularly cash withdrawal, without the need for
a human cashier, clerk or bank teller.

According to the ATM Industry Association (ATMIA), there are now close to 3 million ATMs
installed worldwide.

On most modern ATMs, the customer is identified by inserting a plastic ATM card with
a magnetic stripe or a plastic smart card with a chip that contains a unique card number and
some security information such as an expiration date or CVVC(CVV). Authentication is
provided by the customer entering a personal identification number (PIN).

Using an ATM, customers can access their bank deposit or credit accounts in order to make a
variety of transactions such as cash withdrawals, check balances, or credit mobile phones. If
the currency being withdrawn from the ATM is different from that in which the bank account
is denominated the money will be converted at an official exchange rate. Thus, ATMs often
provide the best possible exchange rates for foreign travelers, and are widely used for this
purpose.

ICICI ATM CARD:

ATM card lets you access your savings account from the ATMs (Automated Teller Machine)
and also let you perform a host of non-financial functions by entering your PIN (personal
identification number).

The amount that you can withdraw depends on the daily limit of your card type and what is
available in your bank account. The card limit varies from bank to bank and from one account
to another. The withdrawal is immediately debited from your account.

These are the simplest form of plastic cards issued by banks. These days you will rarely be
issued an ATM card by a bank. Though the cards that are linked to a savings account are known
as ATM/Debit cards they are actually (functionally) debit cards.

ATM cards are now issued to only a few specific types of accounts and if a customer
specifically requests for an ATM card.

ADVANTAGES:

 Round the Clock Services: ATM provides banking services to its customers round the
clock, 24 hours a day, 7 days a week and 365 days a year.

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 Access to bank from any part of the world: Essential banking services like deposits,
withdrawals transfer of funds, etc can be accessed by customers from any part of the world.

 Expansion of Services to any corner of the world: Of the Banks can expand their services
to any corner of the world by providing electronic access to its customers.

 Reduction in cost of operation: This reduces human intervention and thereby reduces the
cost of operations and increases profitability of banks.

 For shopping Purpose: Now a day’s almost every shopping mall, restaurant and other
organizations are accepting credit card payments.

DISADVANTAGES:

 Cannot be provided in rural areas: In a country like India, where banks are having large
number of rural and non-computerized branches, ATM services cannot be provided.

 Presence various constraints: Even if banks make some efforts to introduce ATM
services country side, various constraints like illiteracy, security concern, etc., may not
permit that.

 Limitation of cash withdrawals: Again there is a limitation of cash withdrawals from

ATM. For example, many banks do not permit withdrawal of more than 25,000 at a time.

 Cash deposit facility is not safe: Similarly cash deposit facility is restricted and not safe
as dropping of envelope with can in ATM is not advisable.

 Possibility of misusing ATM card: ATM card, if misplaced, lost or stolen, may be
misused. There are number of such reported incidences now a days.

 Loss of personnel touch with the Banks: Last but not the least, customers lose personal
touch with their bankers.

The ATM usage in India is growing very fast, i.e., at 300 percent, as per the survey conducted in
2002 the density in relation to population stands at a mere 4 ATMs per million population, now
its triplicated. Indian Banking Industry has developed during these 11 years of span and it
also has introduced so many new technologies like Talking ATMs and White Labeled ATMs.

ICICI DEBIT CARDS

A debit card (also known as a bank card or check card) is a plastic payment card that
provides the cardholder electronic access to their bank account(s) at a financial institution.

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Some cards may bear a stored value with which a payment is made, while most relay a message
to the cardholder's bank to withdraw funds from a payer's designated bank account. The card,
where accepted, can be used instead of cash when making purchases. In some cases, the
primary is assigned exclusively for use on the Internet and there is no physical card.
Debit cards usually also allow for instant withdrawal of cash, acting as the ATM card for
withdrawing cash. Merchants may also offer cashback facilities to customers, where a customer
can withdraw cash along with their purchase. You can only spend so much on these at a time
and if you spend too much your account can be blocked for a while

Debit cards can function in two ways:

 Like an ATM card for immediate withdrawals of cash

 Like a check when buying an item. The money used to pay for the transaction is usually
deducted from your account within a day or two depending on when the retailer presents
the transaction for payment.

 ADVANTAGES OF A DEBIT CARD:

 Easy to obtain. Once you open an account most institutions will issue you a debit card
upon request.
 Convenience. Purchases can be made using a chip-enabled terminal or by swiping the
card rather than filling out a paper check.
 Safety. You don't have to carry cash or a checkbook.
 Readily accepted. When out of town (or out of the country), debit cards are usually
widely accepted (make sure to tell your financial institution you’re leaving your city;
to not have an interruption in service).
DISADVANTAGES OF A DEBIT CARD:

 No grace period. Unlike a credit card, a debit card uses funds directly from your checking
account. A credit card allows you to borrow funds on credit, leaving disposable cash in
your account.
 Check book balancing. Balancing your account may be difficult unless you record every
debit card transaction.
 Less protection. Most financial institutions will try and protect their customer from debit
card fraud. However, a customer could potentially be liable for up to $500 on fraudulent
debit card transactions compared with only $0 on credit cards. Be sure to check with your
financial institution to learn the details.

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 Fees. Using your debit card for ATM transactions may be costly if the ATM is not affiliated
with your institution.
SOME GUIDELINES

 Guard your debit card against loss or theft. Keep it in a safe place just like cash, credit
cards or checks.
 If you lose your debit card, notify your financial institution immediately.
 Choose a PIN number that only you know. It is recommended, you don't use your phone
number or birthday.
 Guard your PIN number. Memorize it and never write it on anything you keep with you.
 Keep receipts from all your debit card transactions for your records.
 Review your statements immediately and investigate any unknown transactions.
 Use chip-enabled technology if available. For the most secure transaction, if a retailer
offers a chip-enabled terminal, use it instead of swiping the magnetic strip.

ICICI CREDIT CARDS

A credit card is a payment card issued to users (cardholders) as a method of payment. It allows
the cardholder to pay for goods and services based on the holder's promise to pay for
them.[1] The issuer of the card (usually a bank) creates a revolving account and grants a line of
credit to the cardholder, from which the cardholder can borrow money for payment to
a merchant or as a cash advance.

A credit card is different from a charge card, where it requires the balance to be repaid in full
each month. A credit card also differs from a cash card, which can be used like currency by
the owner of the card. A credit card differs from a charge card also in that a credit card typically
involves a third-party entity that pays the seller and is reimbursed by the buyer, whereas a
charge card simply defers payment by the buyer until a later date.

The size of most credit cards is 85.60 mm × 53.98 mm (3.370 in × 2.125 in),[3] conforming to
the ISO/IEC 7810 ID-1standard. Many modern credit cards have a computer chip embedded
in them for security reasons.

ADVANTAGES:

1. Convenience--Credit cards can save you time and trouble--no searching for an ATM or
keeping cash on-hand. –

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2. Record keeping--Credit card statements can help you track your expenses. Some cards
even provide year-end summaries that really help out at tax time. –

3. Low-cost loans--You can use revolving credit to save today (e.g., at a one-day sale), when
available cash is a week away –

4. Instant cash--Cash advances are quick and convenient, putting cash in your hand when
you need it. –

5. Perks--From frequent flier miles to discounts on automobiles, there is a program out there
for everyone. Many credit card companies offer incentive programs based on the amount
of purchases you make. –

DISADVANTAGES:

1. Overuse--Revolving credit makes it easy to spend beyond your means.

2. Paperwork--You'll need to save your receipts and check them against your statement each
month. This is a good way to ensure that you haven't been overcharged.

3. High-cost fees--Your purchase will suddenly become much more expensive if you carry a
balance or miss a payment.

4. Deepening your debt--Consumers are using credit more than ever before. If you charge
freely, you may quickly find yourself in over your head--as your balance increases, so do
your monthly minimum payments. –

5. No free lunch--The high interest rates and annual fees associated with credit cards often
outweigh the benefits received. Savings offered by credit cards can often be obtained
elsewhere.

TELEPHONE BANKING

Telephone banking is a service provided by a bank or other financial institution, that

enables customers to perform a range of financial transactions over the telephone, without the
need to visit a bank branch or automated teller machine. Telephone banking times are usually
longer than branch opening times, and some financial institutions offer the service on a 24-
hour basis. Most financial institutions have restrictions on which accounts may be accessed
through telephone banking, as well as a limit on the amount that can be transacted.

12
The types of financial transactions which a customer may transact through telephone banking
include obtaining account balances and list of latest transactions, electronic, and funds
transfers between a customer's or another's accounts.

From the bank's point of view, telephone banking minimizes the cost of handling transactions
by reducing the need for customers to visit a bank branch for non-cash withdrawal and deposit
transactions. Transactions involving cash or documents (such as cheques) are not able to be
handled using telephone banking, and a customer needs to visit an ATM or bank branch for
cash withdrawals and cash or cheque deposits.

ADVANTAGES:
Telephone is one the biggest invention of modern science that has eased the life of common
people. Further, the use of wireless radio technologies in mobile phones entirely changed the
mode of voice and text communication. The advantages of telephones are given below:

 Communication with distant person: People can communicate to distant people over
telephone. For example, a person in India can talk with another person in the United
Kingdom over telephone.
 Wireless communication: The invention of mobile phones is of vital importance. It
helps the transmission of voice using wireless technologies.
 Saves time and energy: A telephone serves us like an honest servant in all the fields.
It saves our valuable time and energy to great extent.
 Security: In big cities a telephone has its own utility in terms of safety and security.
You may call police if there is some need for them.
 Easy travelling: Railway booking, calling a taxi from the stand-all can be done on the
telephone. You can also download mobile applications of various taxi-operator and
book a taxi from within the application. You will need a smartphone and internet
connection for this.
 High-speed internet: Most of the smart phones are enabled with high-speed internet
features. Smartphone’s with internet connections enable users to browse websites, play
videos and send emails.
 Healthy relationships: Telephone encourages regular voice-communication between
friends. It helps maintain healthy relationships with friends.
 Low cost: The cost of Voice-communication over telephone and mobile-phones has
reduced significantly in the last few years. Thus, even common people can make full
use of tele-communication technology.
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  Telephone banking: People can make banking transactions over telephone. They can
send and receive funds from the comfort of their home or office. Customers can also
request for bank statement and cheque-book by calling the support team of the bank.
 Telephone interviews: Many large and small companies prefer to conduct the initial
interview over telephone. The interviewer asks relevant questions and if the answers
are satisfactory, the candidate is further invited for the final interview.

DISADVANTAGES:
The disadvantages of telephone are given below:

1. A telephone invites enmity and unfriendliness in your neighborhood. The neighbors want
to use the telephone for their benefits and you have to pay the bill.
2. Some of the neighbors are so frank and free that they give your number to their relatives
and friends. If you fail to call the neighbor at an odd hour when the phone rings for him, he
will become angry and sweetness of neighborhood would change into bitterness. They fail
to think of your comfort.
3. When we are forced to attend too many calls over telephone, then our peace is disturbed.
4. People wastes much of their time over useless gossip over the telephone or mobile devices.
5. Telephone is often misused by tele-marketers. Very often, telemarketers make unsolicited
calls and disturb people during office hours.

ICICI MOBILE BANKING

ICICI Mobile banking services work with almost all types of handsets and help you access
your ICICI Bank account securely, anytime, anywhere. A quick and easy registration is all you
need to avail Mobile Banking services. It offers a secure and anytime transactions from home.
Quick pay and withdrawal from anywhere and anytime is now very easy from ICICI bank.

Mobile Banking of ICICI bank offers below facilities:

1. iMobile: iMobile, the most comprehensive and secure Mobile Banking application,
offers over 100 banking and informational services to take care of your banking needs
conveniently from your mobile. iMobile is available on Android, Windows,
Blackberry, Apple and Java phones & tablets.

2. Pockets by ICICI bank: It’s a VISA-powered wallet that customer of any bank can
use to recharge mobile, send money, shop anywhere, pay bills and much more.Pockets
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 wallet also comes with a physical shopping card which can be used to shop on any
website or retail stores.

3. SMS banking: Our SMS Banking services allow you to pay bills, recharge prepaid
services and avail banking services by sending a simple SMS Recharge.With ICICI
Bank recharge service over SMS, you can recharge any prepaid phone, broadband and
DTH account instantly. This service is available 24X7. They have made paying your
post-paid Telecom bill payments even more convenient. Now pay your postpaid bill
through just an SMS.

4. Mobile Money: ICICI Bank presents "Mobile Money", an account on your mobile
phone where your mobile number itself is your account number. Some of the key
services you can avail through your Mobile Money account: Deposit Money, Prepaid
Recharge, Transfer Funds, Pay Bills, Withdraw Cash, Pay Merchant.

5. DMRC metro Card Recharge: CICI Bank has launched DMRC Metro Card recharge
facility through mRupee outlets of MMPL (A subsidiary of Tata Teleservices Limited)
in Delhi & NCR region.DMRC Metro card users can now recharge their metro cards
instantly without queuing up at stations.Metro card holder can walk into any of the 800+
mRupee outlets and get their metro card recharged.

6. Call to pay: ICICI Bank Call to Pay facility lets you pay your utility bills, recharge any
prepaid mobile, DTH connection through a simple phone call.

ADVANTAGES OF MOBILE BANKING:

 Anytime Banking: Mobile Banking gives you the privilege of anytime and anywhere
banking. One can do most of the banking transaction after banking hours from anywhere,
irrespective of whether you are traveling in bus or auto. Whereas this ease will not be
possible if you are connected to a PC or Lap top, especially when traveling.
 Mobile Banking is Free: The service provided by bank is free of charge, there is no limit
for number of times you can access your account.
 Various banking services provided include Account Balance Inquiry , Credit/Debit Alerts,
Bill Payment Alerts, Transaction History, Fund Transfer Facilities, Minimum Balance
Alerts etc. can be accessed from your mobile.
 You can transfer money instantly to another account in the same bank using mobile

15
 banking.
 Secure Banking: Some banks assure that, by downloading the app directly from the server,
the data won’t be stored in your mobile as well as SIM card. The app comes with advanced
encryption technologies making it safe and secure as Internet Banking.

DISADVANTAGES OF MOBILE BANKING:

 To make maximum benefit of mobile banking one should have smart phone. Some banks
have specific software for specific mobile such as iphone and Blackberry people should
download different apps based on the smart phone they own.
 Many experts believe that mobile banking is more secure then internet banking as very few
virus or Trojans can exist in phone. However, that does not mean that they are immune to
any kind of threats. As phishing exist for internet banking users, there is "Smishing" for
mobile banking users. When a mobile banking user receives a fake text message asking for
bank account details from a hacker.
 There are also very limited anti -virus software options for mobile devices. People are less
careful with their mobile compared to laptop. You must also update your anti-virus on the
mobile if you are a frequent user of mobile banking.

ICICI TAB BANKING

TAB Bank (TAB), formerly Transportation Alliance Bank, was established as an Industrial
Loan Corporation (ILC) in 1998. TAB is an affiliate of TAB Bank Holdings Inc. Originally
formed to provide financial services to the transportation industry, today TAB provides
working capital facilities, equipment financing and deposit products to a variety of business
sectors while continuing to build on success within the transportation industry.
With Tab Banking, avoid the hassle of arranging paper work like physical photograph and
photocopies of KYC documents. Our Tab Banking officer will come to a place of your
convenience, click your photograph and scan the necessary documents required to open an
ICICI Bank account with the help of a tablet.

ICICI Bank Tab Banking: ICICI Bank has recently spent a lot of money advertising its Tab
Banking facility. The ad features their brand ambassador Amitabh Bachhan flying kites with
youngsters. Big B takes a small break and meets the ICICI Bank representative who does all

16
the required “paperwork” on the tablet that he is carrying. Driving home the point that banking
is now truly remote and convenient.

ICICI TAB BANKING ADVANTAGES:

 Time saving

 No need of paperwork – all documents are easily photographed and uploaded from the
tablet directly

 No need of account holders photograph – the Tab Banking Officer would just click the
photo of the applicant from the tablet and include it with the application

 Fast account opening – ICICI Bank promises a 1 day Turn-around-time for account
activation

TAB BANKING ICICI VIDEO ADVERTISEMENT

The buzz in the industry is that ICICI bank has already recovered most of its investments in
the Tablet banking project and related initiatives. Given the scale of the bank this is expected
also. Some of the numbers heard in the market is that as much as 40% of all loan applications
now flow through their tab-banking system.
ICICI Tab Banking is also quoted by most management consulting firms in their decks about
digital banking.

17
 WORK BRIEF OF INTERNSHIP

My study aimed to understand the mode of payments and verify the usage of electronic
payments among customers. Additionally, the research delve into the problems and challenges
of digital payment in the retail industry. The focus was on understanding the latest modes of
electronic payments available at ICICI bank. Furthermore, the work investigated if India's push
towards a cashless economy has been beneficial for its citizens. This work is also aimed to
provide a comprehensive understanding of the current state of electronic payments in India,
specifically in the retail industry.

The focus of the research is to investigate the connection between sustained development and
growth with strong economic development and the implementation of digital payments and
digital transactions in India. The research aims to understand the integral role that improved
transparency, corporate governance and restricting cash-based economy play in achieving this
goal. It is believed that these developments can only be feasible if India fully embraces digital
payments and digital transactions.

The information gathered through this research will provide valuable insights into the changes
and development of various aspects of the retail industries as a result of Digital India initiative
and will be useful in evaluating its success against the pre-set objectives of the research.
Overall, this research is aimed at shedding light on the potential benefits and challenges of
promoting digital payments for economic growth, transparency and corporate governance in
India.

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DAILY OVERVIEW OF INTERNSHIP ACTIVITIES FOR 15 DAYS
Day Week WORK ASSIGNED / COMPLETED / ACTIVITIES
● My Identity Card was issued for access.
● I was able to gain access to the system where I was
1 Monday
supposed to work with the assistance of the HR
department.

● Learned the common influences in payment system.

2 Tuesday ● Factors influencing the Human Resources Department
of the organization in electronic payments field.
● Details required to be mentioned.
3 Wednesday
● Filling the forms for formulating the internship.

● Collecting data throughout the bank with limited

4 Thursday number of employees
● Submitting their forms
● Grabbing the information about sources and
the company from Internet, magazines &
5 Friday Books.
● Implementing the trained methods in the financial
system evaluation
● Going through case studies related to Electronic
6 Saturday payments.
● Task implementation.
● Boosting the logical system techniques.
7 Monday
● Review of the Internship activities.

● Implementing various techniques to gather financial

8 Tuesday information majorly for the E banking and electronic
payments
● Seek to grabbing information regarding electronic
9 Wednesday payments from selected respondents.

● Day 1 of 20% information collection as set for 5 days

10 Thursday task.

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 ● Information regarding:
 Level of education.
 Profession.
 Familiar with computer usage level of bank.
 Willingness to switch to cashless transactions.

● Day 2 of 20% information collection as set for 5 days

task.
● Information regarding:
11 Friday  Benefits of cashless system
 Preference to make payments as monthly bills
 Frequently of using mobile banking or online
payments
 Use of internet banking services

● Day 3 of 20% information collection as set for 5 days

task.
● Information regarding:
12 Saturday
 Problems related to cards blocked, machine out of
cash, long waiting time in queues, reduction in
balance without cash by using ATM.
 Problems related to not providing information or
not giving response by using internet banking.
● Day 4 of 20% information collection as set for 5 days
task.

13 Monday Information regarding:

 Mobile banking problems
 Contribution of new technology to the success of
Banks
 Reasons behind introduction of internet banking
● Day 5 of 20% information collection as set for 5 days
task.

14 Tuesday Information regarding:

 New initiatives taken by government in order to
encourage digitaltransactions
 Challenges in implementing digital transactions in
rural market
● Generating the collected information in reports.
● Presentation of reports.
15 Wednesday ● Collecting sources and considerations from bank.
● Completion of internship.
● Making internship report with ICICI Bank.

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 INTERNSHIP SKILLS
There are several skills and experiences learned from working with electronic payments as an
intern in ICICI Bank:

1. Understanding of payment systems and technologies: Knowledge of different types of

electronic payment methods, such as credit and debit cards, e-wallets, and digital
currencies.
2. Familiarity with payment security protocols: Working with electronic payments
requires a good understanding of security measures, such as encryption, fraud detection,
and risk management.
3. Knowledge of compliance regulations: Electronic payments are subject to various laws
and regulations, such as the Payment Card Industry Data Security Standards (PCI-DSS)
and the General Data Protection Regulation (GDPR), and it's important to have knowledge
about the same.
4. Experience with integration: Electronic payment systems often need to be integrated with
other systems, such as accounting software, CRM, and e-commerce platforms, so
familiarizing oneself with the process of integration of the same will be important.
5. Strong analytical and problem-solving skills: When working with electronic payments,
it's important to be able to analyze data, identify problems and come up with solutions,
which will help in decision making, testing, and troubleshooting.
6. Strong communication and collaboration skills: Electronic payments often involve
multiple stakeholders, such as merchants, consumers, payment processors, and financial
institutions, so strong communication and collaboration skills are important to be able to
build and maintain good relationships with these different groups.

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 CONCLUSION

From the above internship analysis it also appears that many people actually agree with the
government on the usefulness of cashless economy as it helps to fight against terrorism,
corruption, moneylaundering but one biggest problem in the working of cashless economy in
India is cybercrimeand illegal access to primary data. Therefore, it’s important to strengthen
internet security fromprotection against online fraud. For smooth implementation of cashless
system in India, the following measures are recommended Government have to bring
transparency and efficiency in e payment system, strategies used by government and RBI to
encourage cashless transactions by licensing payment banks, promoting mobile wallets and
withdrawing service charge on cards and digital payments. A financial literacy campaign
should be conducted by government time to time to make population aware of benefits of
electronic payments.

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