CHAPTER 1

INTRODUCTION

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INTRODUCTION TO BANKING SECTOR IN INDIA

Banking in India began in the first decade of the 18th century, with the establishment of
The General Bank of India in 1786. The Bank of Hindustan came next. Both of these banks
are no longer in operation. The State Bank of India is India's oldest bank, having been
founded in Calcutta in June 1806 as "The Bank of Bengal." Foreign banks began operations
in Calcutta a few decades later, in the 1850s. Calcutta was the busiest commercial port at
the period, owing mostly to British Empire commerce, and as a result, banking activity took
root and flourished there. The Allahabad Bank, founded in 1865, was the first entirely
Indian-owned bank.

By the 1900s, the market had expanded with the formation of private-owned banks such as
the Punjab National Bank in Lahore in 1895 and the Bank of India in Mumbai in 1906.
From 1935, the Reserve Bank of India was legally charged with overseeing the Indian
banking industry. Following India's independence in 1947, the Reserve Bank of India was
nationalised and given expanded responsibilities.

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At the end of the late 18th century, there were few banks in India in the modern sense. During
the American Civil War, a gap was created when the supply of cotton to Lancashire from the
Americas was cut off. At the period, certain banks were established to serve as organisations
to finance industries, particularly cotton speculative trading. Most of the banks established in
India during that time period could not survive and failed due to their high reliance on
speculative activities. Depositors lost money and lost interest in retaining their money in banks.
Banking in India remained the sole province of Europeans for the next many decades, until the
turn of the twentieth century. The Bank of Bengal, subsequently known as the State Bank of
India.

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HISTORY OF BANKING IN INDIA
India cannot have a thriving economy unless it has a strong and efficient banking sector.
The Indian financial system should not only be trouble-free, but it should also be prepared to
face new challenges brought by technology and other external and internal variables.

Several notable advances have been made by India's financial sector during the last three
decades. The most noticeable feature is its broad scope. It is no longer limited to India's
metropolitans or cosmopolitans. In reality, the Indian financial system has spread to even the
most distant parts of the country. This is one of the primary drivers of India's growth.

With the nationalisation of 14 major commercial banks in India, the government's regular
strategy for Indian banks since 1969 has delivered great rewards.

Not long ago, an account holder had to queue for hours at the bank counters in order to
obtain a draught or withdraw his own funds. He now has an option. The days of the most
efficient bank transferring money from one branch to another in two days are long gone. It is
now as simple as instant chatting or dialling a pizza number. Money has taken precedence in
today's world.

Though conservative, India's first bank was formed in 1786. The path of the Indian
Banking System from 1786 to present may be divided into three major stages. They are as
follow:

• PHASE I - Early phase from 1786 to 1969 of Indian Banks

• PHASE II - Nationalization of Indian Banks and up to 1991
• PHASE III - Indian Financial & Banking Sector Reforms after 1991.

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 Phase I:

The General Bank of India was founded in 1786. Then came the Bank of Hindustan and
the Bengal Bank. The East India Company created the Bank of Bengal (1809), the Bank of
Bombay (1840), and the Bank of Madras (1843) as autonomous institutions under the name
Presidency Banks. In 1920, these three banks merged to become the Imperial Bank of India,
which began as a private shareholder bank with primarily European owners. During the
initial phase, development was sluggish, and banks failed on a regular basis between 1913
and 1948.

There were around 1100 banks, the most of which were tiny. To standardise the operations
and activities of commercial banks, the Government of India enacted The Banking
Companies Act, 1949, which was later renamed Banking Regulation Act 1949 by an
amendment Act in 1965. (Act No. 23 of 1965). As the Central Banking Authority, the
Reserve Bank of India was given broad powers to supervise banking in India. During those
times, the public has less trust in banks. As a result, deposit mobilisation has been sluggish.
Ahead of it, the Postal Department's savings bank facility was comparably safer.
Furthermore, money was primarily distributed to dealers.

PHASE II:
Following independence, the government took significant efforts toward Indian Banking
Sector Reform. It nationalised the Imperial Bank of India in 1955, providing broad banking
services on a wide scale, particularly in rural and semi-urban regions. In 1980, seven additional
banks were nationalised as part of the second phase of Indian Banking Sector Reform. This
action raised the government's control of the banking sector in India to 80%.

The efforts made by the Government of India to regulate banking institutions in the country
are as follows:

• 1949: Enactment of Banking Regulation Act.

• 1955: Nationalization of State Bank of India.

• 1959: Nationalization of SBI subsidiaries.

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 • 1961: Insurance cover extended to deposits.

• 1969: Nationalization of 14 major banks.

• 1971: Creation of credit guarantee corporation.

• 1975: Creation of regional rural banks.

• 1980: Nationalization of seven banks with deposits over 200 crore

Following bank nationalisation, the branches of the public sector bank India increased by about 800
percent in deposits and advances by 11,000 percent. Banking in the light of government ownership
provided the people implicit faith and enormous confidence in the long-term viability of these
organisations.

PHASE III

In its reforms measure, this phase has brought many additional goods and services in the
banking industry. Under the presidency of M Narasimham, a group was formed in 1991 to
work on the liberalisation of banking procedures.

The country is inundated by foreign banks and ATMs. Efforts are being made to provide
consumers with a quality service. Phone banking and internet banking are made available. The
entire system improved in terms of convenience and speed. India's financial system has shown
to be quite resilient. It is immune to any catastrophe caused by an external macroeconomic
shock, as other East Asian countries have been.

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BANKING SYSTEM IN INDIA:

Banks in India

Nationalised
Central Bank Private Banks Foreign Banks
Banks

CENTRAL BANKS:

Reserve Bank of India (RBI): The Reserve Bank of India (RBI) is India's central bank
and regulatory agency, reporting to the Government of India's Ministry of Finance. It
is in charge of issuing and supplying the Indian rupee, as well as regulating the Indian
banking sector. It also oversees the country's primary payment systems and strives to
promote the country's economic development. Bhartiya Reserve Bank Note Mudran is
one of the RBI's specialised departments that mints Indian bank notes and coins. The
Reserve Bank of India formed the National Payments Corporation of India as one of its
specialised divisions to regulate India's payment and settlement systems. The Reserve
Bank of India created the Deposit Insurance and Credit Guarantee Corporation as one
of its specialised divisions for the aim of insuring deposits and guaranteeing credit
facilities for all Indian banks.

Nationalised Banks:

Nationalized banks dominate the Indian banking system. Mrs. Indira Gandhi, the
former Prime Minister of India, nationalised the banks in 1969. The primary goal of
nationalisation banks was to expand banking infrastructure in rural regions and provide
low-cost financing to Indian farmers. In 1969, fourteen banks were nationalised. At
present 12 banks are listed as nationalised bank in India by RBI:

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 1. State Bank of India
2. Bank of Baroda
3. Bank of India
4. Canara Bank
5. Central Bank of India
6. Indian Bank
7. Indian Overseas Bank
8. Punjab and Sind Bank
9. Punjab National Bank
10. UCO Bank
11. Union Bank of India
12. Bank of Maharashtra

Private Banks:

Previously, all banks in India were private. They were established prior to independence
to meet the people's financial requirements. However, with the nationalisation of banks
in 1969, public sector banks began to dominate the banking structure. Private sector
banking in India received a boost in 1994, when the Reserve Bank of India supported
the establishment of private banks as part of its liberalisation strategy for the Indian
banking industry. The Housing Development Finance Corporation Limited (HDFC)
was among the first to gain 'in principle' clearance from the Reserve Bank of India
(RBI) to establish a private sector bank.

Here are some top private sector banks in India:

1. ICICI Bank
2. HDFC Bank
3. Axis Bank
4. IDBI Bank
5. IDFC First Bank
6. Karnataka Bank

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 7. Karur Vysya Bank
8. Yes Bank
9. South Indian Bank
10. J&K Bank

Foreign Bank:
Foreign banks are more likely to thrive in their specialist markets and to be the first to
introduce new technologies in the domestic market. The future for private sector banks
appears to be more positive than for other institutions. While their concentrated
operations, reduced but more productive staff force, and so on will serve them well,
prospective acquisitions of PSU banks would undoubtedly provide them with the much-
needed scale of operations and access to lower-cost capital.

Here are some top Foreign Banks in India:

1. Citi Bank
2. Standard Chartered Bank
3. HSBC Bank
4. Deustche Bank
5. Royal bank of Scotland
6. DBS Bank
7. Barclays Bank
8. Bank of America
9. DOHA Bank
10. Bank of Bahrain and Kuwait

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 CHAPTER 2

INTRODUCTION
OF
ORGANISATION

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OVERVIEW OF ICICI BANK

• ICICI was founded in 1955 by the World Bank, the Government of India, and leaders
from Indian business. The primary goal was to establish a development financial
organisation to provide medium- and long-term project finance to Indian enterprises.
ICICI's activities were largely centred on project financing until the late 1980s, when it
began providing long-term funds to a variety of industrial ventures. As the Indian
economy became more market-oriented and connected with the global economy, ICICI
took advantage of new possibilities to offer a larger variety of financial products and
services to a broader range of consumers. ICICI Bank was founded in 1994 as a
subsidiary of the ICICI group. ICICI became the first Indian firm and the first non-
Japan Asian bank or financial institution to be listed on the New York Stock Exchange
in 1999. (ICICI bank, 2021)

Some latest facts and figures of ICICI bank:

Total branches in India - 5,288

Total ATM across India – 15,158

Abroad subsidiaries – United Kingdom & Canada

Abroad branches - United States, Singapore, Bahrain, Hong Kong, Qatar, Oman, Dubai

International Finance Centre, China and South Africa

Representative Offices - United Arab Emirates, Bangladesh, Malaysia and Indonesia.

Total Assets - Over twelve trillion Indian rupees

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During fiscal 2021; others at March 31, 2021:

₹ 15.74 trillion
Consolidated Total Assets
₹ 313.51 billion
Core Operating Profit*
₹ 161.93 billion
Profit After Tax*
19.12 %
Total Capital Adequacy Ratio
3.69 %
Net Interest Margin*
21 %
Increase in Total Deposits year-on-year
41 %
Average CASA Ratio*
55 %
Retail Portfolio as a proportion of total Portfolio (including non-fund based outstanding)
20 %
₹ 15.74 trillion
Consolidated Total Assets
₹ 313.51 billion
Core Operating Profit*

(ICICI bank, 2021)

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Business objectives:
The objective of ICICI bank is to meet the needs of the private industry for long and medium-
term funds in the private sector.

VISION:

To be the trusted financial services provider of choice for our customers, thereby creating
sustainable value for our stakeholders.

MSSION:

To grow our risk-calibrated core operating profit by:

• Delivering products and services that create value for customers.

• Bringing together all our capabilities to seamlessly meet customer needs.
• Conducting our business within well-defined risk tolerance levels.

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Key Domestics subsidiaries of ICICI bank:
ICICI
Lombard
General
Insurance
Company ICICI
Prudential
ICICI
Life
Venture
Insurance
Company

ICICI
Bank

ICICI ICICI
Securities Prudential
Primary AMC &
Dealarship Trust

ICICI
Securities

ICICI Lombard General Insurance Company:

ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between ICICI
Bank Limited and Canada headquartered Fairfax Financial Holdings Limited. Fairfax Financial
Holdings is a diversified financial corporation specialising in general insurance, reinsurance,
insurance claims management, and investment management, whereas ICICI Bank is India's
second largest bank. Lombard Canada Ltd, a Fairfax Financial Holdings Limited group
business, is one of Canada's oldest property and liability insurers. In August 2000, ICICI
Lombard General Insurance Company got regulatory clearance to begin general insurance
operations. (ICICI Lombard , n.d.)

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Retail segment of ICICI Lombard General Insurance company

1. Health Insurance
2. Home insurance
3. Motor Insurance
4. Travel Insurance
5. NRI Services

ICICI Prudential Life Insurance Company

On July 20, 2000, ICICI Prudential Life Insurance Company Limited was established. The
company's authorised capital is Rs.2300 million, and its paid-up capital is Rs.1500 million. The
firm is a joint venture between ICICI (74% ownership) and Prudential Plc, a UK-based
corporation (26 percent). On November 24, 2000, the Insurance Regulatory and Development
Authority issued the firm a certificate of registration to conduct business. It began commercial
operations on December 19, 2000, and has since grown to become a major private sector life
insurance firm. (ICICIprulife, n.d.)

ICICI Prudential Asset Management Company:

ICICI Prudential Asset Management Firm Ltd. is a major asset management company (AMC)
in the nation focusing on bridging the savings-investment gap and generating long-term wealth
for clients via a suite of easy and relevant investment products.

The AMC is a joint venture between ICICI Bank, a well-known and reputable brand in Indian
financial services, and Prudential Plc, one of the UK's biggest financial services companies.
Throughout the years of the joint venture, the business has established itself as a leader in the
Indian Mutual Fund sector. (ICICI Prudential , n.d.)

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ICICI Securities:

ICICI Securities Limited (I-Sec) is an ICICI Bank Ltd subsidiary. The business started
operations in May 1995 and continues to develop its operations by increasing its customer base
and offering a variety of services.

I-Sec runs www.icicidirect.com, a virtual financial supermarket that caters to its customers'
three demand sets: investments, protection, and borrowing. I-Sec services clients ranging from
retail and institutional investors to corporates, high net-worth individuals, and the government
via its four areas of business: broking, distribution of financial products, wealth management,
and investment banking. (ICICI Securities, n.d.)

ICICI Securities Primary Dealership:

In Indian fixed income and money markets, the ICICI Securities Primary Dealership Limited
is a pioneer in the spectrum of interest rate products and services, institutional sales and trading,
resource movement and research. One of the first companies to get a primary dealer's license
from RBI, I-Sec PD has been making pioneering contributions to debt market growth in India
since it began.

The I-Sec PD desks regularly trade in government securities, swaps and bond markets. It has a
dominating position in each of these marketplaces, accounting for a substantial portion of trade
volume. (ICICI Securities Primary Dealership Limited, n.d.)

ICICI Venture:

ICICI Venture is a pioneer in the Indian alternative asset management sector. It was founded
in 1996. The Company has made investments across a variety of economic cycles and has
provided superior risk adjusted returns to its investors.

ICICI Venture collaborates with leading Indian and international financial investors through a
variety of capital pools and investment strategies to provide customized equity, debt, and
hybrid capital solutions to businesses with a strong India nexus. ICICI Venture is a wholly
owned subsidiary of ICICI Bank. (ICICI Venture, n.d.)

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ICICI Bank Products & Customer Segment:

Personal Banking

Loan Product Deposit Product Investment & Insurance

• Auto Loan • Saving a/c • Mutual Fund

• Loan Against • Current a/c • Bonds
Security • Fixed deposit • Knowledge Centre
• Loan Against • Demat a/c • Insurance
Property • Safe Deposit • General and Health
• Personal loan Lockers Insurance
• Credit card • Equity and Derivatives
• 2-wheeler loan • Mudra Gold Bar
• Commercial
vehicles finance
• Home loans
• Retail business
banking
• Tractor loan
• Working Capital
Finance
• Construction
Equipment Finance
• Health Care
Finance
• Education Loan
• Gold Loan

Cards Payment Services Access To Bank

• Credit Card • NetSafe • Net Banking

• Debit Card • Merchant • One View
• Prepaid Card • Prepaid Refill • Insta Alert
• Bill pay • Mobile Banking
• Visa Bill pay • ATM
• Insta Pay • Phone Banking
--------------------------------
• Direct Pay • Email Statements
Forex Services
• Visa Money • Branch Network
--------------------------------
• Product & Services Transfer
• Trade Services • e–Monies
Electronic Funds
• Forex service
Branch Locater Transfer
• RBI Guidelines • Online Payment of

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 Wholesale Banking

NRI Services

Accounts & Deposits Remittances

• Rupee Saving a/c • North America

• Rupee Current a/c • UK
• Rupee Fixed Deposits • Europe
• Foreign Currency Deposits • South East Asia
• Accounts for Returning Indians • Middle East
• Africa
• Others
Quick remit
IndiaLink

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 Accounts & Deposits Remittances

• Rupee Saving a/c • North America

• Rupee Current a/c • UK
• Rupee Fixed Deposits • Europe
• Foreign Currency Deposits • South East Asia
• Accounts for Returning Indians • Middle East
• Africa
• Others
Quick remit
IndiaLink

Products and Services Offered by ICICI Bank:

ICICI Bank provides a broad range of Deposit Products to meet your needs. With the
convenience of networked branches/ ATMs and the availability of E-channels such as Internet
and Mobile Banking, ICICI Bank delivers banking to your door. Select any of its deposit
options and enter your information online; a representative will call you to set up an account.

Saving Account:

ICICI Bank provides clients with a powerful Savings Account that includes
a slew of handy features and banking channels. Customers may now bank
at their leisure, without the burden of standing in lines.

Special Saving account:

The Special Savings Account has been created with the particular requirements of
organizations such as trusts, associations, societies, councils, clubs, and other similar
organizations in mind. It offers organizations with solutions that provide value, and it is
particularly well suited for tax-exempt organizations.

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“LIFE PLUS” Senior citizen’s savings account:

LIFE PLUS, an ICICI Bank special savings account for older people,
is packed with a slew of advantages created with specific financial
needs in mind.

• A special senior citizen’s desk to handle all financial operations so you don't have to wait in
lines.

• Higher interest rate on FD/RD: With ICICI Bank Fixed Deposit and Recurring Deposit, you
may enjoy the advantages of safety, flexibility, and excellent returns.

• A free senior citizen LIFE PLUS debit card.

Young Stars Account:

Young Stars is an ICICI Bank banking service for children aged one
day to eighteen years old, designed to assist parents in meeting their
child's current and future goals.

Advantage Women Saving Account:

The ICICI Bank Advantage Woman Account gives today's

independent women access to convenient banking services. Aside
from the basic ICICI Bank advantage, the Advantage Woman Savings
Account comes with a slew of additional advantages tailored
specifically to female clients. With ICICI Bank's Advantage Woman Savings Account, woman
can enjoy now while planning for the future. Advantage Woman provides a specifically
designed woman's debit card that allows to shop and save at the same time, controls their
household expenses, and comes with a bag full of offers connected to it.

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Current Account:

Every company needs effective financial services to support its operations. ICICI Bank
provides high-quality service and a diverse range of class goods. With its technological
leadership and service, the bank is able to fulfil some of its customers' most difficult financial
requirements. A current account is one that is needed by business owners, joint stock
companies, institutions, government agencies, and public organizations, among others. A
current account is required for any company that conducts a large number of financial
transactions.

• Allows for operating accounts with limitless withdrawals and deposits;

• Is intended for convenience rather than saving money.

Salary Account:

The ICICI Bank Salary Account is a payroll account that provides many benefits to both
employers and employees. As a company, you may use our Salary Accounts to facilitate salary
payments and enjoy a variety of additional advantages. Your workers will appreciate the ease
of ICICI Bank Salary Accounts since they will be able to:

• Possessing the most extensive network of ATMs at their disposal,

• Telephone banking is available 24 hours a day, seven days a week

• Complimentary Internet Banking.

Fixed Deposits:

Fixed deposits are alternatives that allows to grow money and build
wealth in a more secure and safe manner.

ICICI offers its clients a variety of fixed deposit options that are
versatile and cater to consumers with varying fixed deposit requirements and desires.

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Recurring Deposits:

ICICI Bank Recurring Deposits are an excellent method to invest

modest sums of money each month and accumulate a big sum at
maturity.

Recurring deposits promote savings without placing a strain on customers' finances by

requiring them to deposit a lump sum amount in a fixed deposit all at once.

Security Deposit:

In order to minimize employee turnover, a few corporations require

new workers to submit a Security Deposit. In the case of the
employee, the suggestion from ICICI Bank is to retain his or her
Security Deposit in the form of a Fixed Deposit (FD) with the bank.
A withdrawal of such FDs is not permitted without the permission of the business, and the
company retains the right to withdraw the FD in the event that the employee leaves the
organization before the expiration of a certain period of time.

Family Banking:

Superior product advantages of privilege banking, wealth management,

and global private client (GPC) are accessible to all members of family
while maintaining the necessary minimum balance in any of the
accounts.

• Obtaining better advantages for the whole family.

• Account balances may be kept in several accounts if you have the flexibility to do so.

• Lower the minimum balance requirement for individual customers.

• A single-family bank provides convenience for the whole family as well as simpler money
management.

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Outward Remittance:

Send money to your loved ones who live in another country.

ICICI Bank provides a straightforward method for sending money outside of India. Our
Outward Remittance services make it simple and dependable to send money overseas. Outward
Remittance from ICICI Bank is the answer to all of your requirements. Whether it's money for
school, a present or upkeep for a loved one, or a contribution to a good cause. Our broad
network allows us to reach the majority of the globe.

Advantage Deposit:
Advantage Deposit is a hybrid of a fixed deposit and a mutual fund investment, providing you
with the security of a fixed deposit as well as the profits of an equity fund. Through Systematic
Investment Plans, Advantage Deposit mitigates stock market volatility.

• Combination of a Fixed Deposit (with monthly interest payment) with a Mutual Fund
Systematic Investment Plan (SIP).

• Reinvestment of Fixed Deposit monthly interest pay outs into Mutual Fund systematic
investment strategy.

• Automatic account debits through Standing Instruction / ECS debit mandate.

New Pension System of Government of India:

ICICI Bank, with over 49 branches, is a Point of Presence (POP) for the Government of India's
NEW PENSION SYSTEM, which was introduced on May 1, 2009. The program, sponsored
by the PFRDA (Government of India's Pension Fund Regulatory and Development Authority),
is the first of its type in India and is being introduced throughout the country by 22 additional
POPs.

The goal of this pension plan is to provide members with financial stability in their old age. A
subscriber will be able to arrange his or her own retirement and pension under the program. It
would not only help him save for his retirement, but it will also be an excellent investing tool
since the returns are market-driven. The government has selected six fund managers from
which subscribers may pick for the best returns.
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VARIOUS LOANS OFFRED BY ICICI BANK

Home Loan:

Home loan interest rates have dropped significantly in recent years.

Individuals who took out home loans in the past are still paying
interest rates ranging from 17% to 21% per year. It was a steep price
to pay, considering that a loan now can be obtained for about 12%
per year. In this scenario, you may choose a balance transfer. Customers may use this plan to
swap their previous high-interest loan with a lower-interest loan (equivalent to the current
interest rate). ICICI Home Finance would financing not only the existing loan balance, but also
your prepayment costs to the previous home finance business.

As a result:

• A EMI is lower for the same tenancy.

• A shorter term with the same EMI.
• A shorter term with the same EMI.
• The same EMI and tenure, but with an extra loan amount.

Personal Loan:

ICICI Bank Personal Loans are simple to get and completely hassle-
free. You may now get a loan for up to Rs. 15 lakhs with little
paperwork.

• Loans for salaried and self-employed people.

• Loans ranging from Rs. 20,000 to Rs. 15 Lakhs are available.

• Repayment terms ranging from 12 to 60 months.

• There is no need for security, collateral, or guarantors.

• Loans may be utilized for any purpose, and no inquiries about the loan's intended usage are
asked.

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Car loan:

The company that provides the most auto loan financing in the nation.
More than 1500 channel partners are located in more than 780 locations
around the world. Partnerships with all major car manufacturers are in
place to guarantee the best possible prices.

Schemes that are adaptable and processing that is fast. With a single click of the mouse, you
may begin the application process.

Commercial Vehicle Loan:

• It can reach you via more than 700 sites across the nation.

• A diverse range of goods under one roof.

• Financing of a wide range of goods, including HCVs, buses,

MCVs, LCVs, three-wheelers, and second-hand vehicles.

Services on current loans and extended products such as funding for new cars, refinancing for
old vehicles, balance transfer on high-cost loans, top up on existing loan amounts, Extend
product, working capital loans and other banking products are available.

• Most of the major manufacturers consider us to be their preferred financing.

• Documentation that is straightforward.

• Reliability in turnaround time.

• A variety of financing options to suit the specific needs of each customer.

Two-Wheeler Loan:

Take a ride on your favourite two-wheeler and "zoom" away. A variety of

appealing programs are offered by ICICI at reasonable interest rates.

For all two-wheelers, including mopeds and motorcycles, a financing option

is available.

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Financing is now available up to 90%* of the vehicle's on-road cost, with repayment terms
ranging from 6 months to 36 months*.

• ICICI Bank Two-Wheeler Loans make it simple to get on the road and be paid.

• In the rare event that you do not satisfy our eligibility requirements, NO PROBLEM - you
may still apply for our loan with any blood related as your co-applicant.

Current ICICI Bank customers may ride away on their favourite two-wheeler by taking
advantage of Loan On Phone*, a service that allows them to get a quick loan over the phone!!
Apply for a loan online, via phone, or through text message.

Agriculture Loan:

• ICICI is the chosen lender for nearly all of the nation's major tractor
manufacturers. • ICICI funds agricultural equipment in more than 381
sites throughout the country, including rural areas.

• Allows for quick file processing while maintaining simple documentation.

• Flexible repayment choices that work in conjunction with the farmer's schedule; payback
patterns that include monthly, quarterly, and half-yearly instalments. Repayment terms ranging
from one year to six years are reasonable.

Construction Equipment Loan:

Having financed infrastructure for over four decades, ICICI has a

deeper understanding of the needs of its clients. Through its
extensive distribution network, ICICI Bank provides appealing
financial solutions. The goods are tailored to the needs of small
and big businesses alike. For a broad variety of goods, ICICI has collaborations with major
construction equipment manufacturers. The bank assumes current high-cost loans at
competitive terms, resulting in significant savings, and is fast to complete owing to simple
formalities and one-time loan approval for payment over a period of time.

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Healthcare Equipment Loan:

Professional physicians are aware of the unique benefits that

cutting-edge medical technology may provide to their patients.
ICICI Bank Medical Equipment Loans assists professionals in their
efforts to provide the best possible care to their patients. It's our
modest way of participating in a great profession.

Loans are available for the following purposes:

• Purchase of new equipment; and

• Takeover of existing loans.

Our key features include:

• Doorstep service;
• funding at more than 150 locations throughout the country;
• competitive interest rates; and
• a flexible payback plans.

Loan Against Securities:

Customers can get loans against their securities through Loans

against Securities. As a result, they have immediate cash without
having to sell their securities.

Customers just need to pledge their securities in favor of ICICI

Bank. The bank will then offer them an overdraft capacity up to the value of the securities
pledged by them. A current account will be created, and the consumer will be able to withdraw
funds as needed. Only the amount removed and the time period used will be charged with
interest.

Bank offers loan against:

• Demat Shares
• RBI Relief Bonds

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 • Mutual Fund Units
• India Millennium Deposits (IMDs)
• ICICI Bank Bonds
• Life Insurance Policies (Single Premium)

Credit cards:

ICICI Bank Credit Cards provide you with cash, convenience, and a variety
of advantages wherever in the globe. Lifetime free cards, insurance benefits,
worldwide emergency help service, discounts, utility payments, vacation
savings, and much more are among the many advantages available.

Debit cards:

The ICICI Bank Debit Card is a new kind of currency that

allows users to access their bank accounts 24 hours a day, 7
days a week, anywhere in the globe. The ICICI Bank Debit
Card is accepted at over 100,000 retailers in India and 13 million merchants
globally.

Travel card:

I'd like to present the ICICI Bank Travel Card. The Easiest Way to
Travel the World If you're traveling with US dollars, euros, pounds
sterling, or Swiss francs and want to be safe and convenient, use the
ICICI Bank Travel Card. Duplicate copies were distributed. Provides
pin-based security. Has the option of using a credit or debit card.

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Prepare card:

ICICI Bank offers a comprehensive range of pre-paid cards, putting payment options at your
fingertips. Pre-paid cards from ICICI Bank are a secure and easy method to make associate
payments, disbursements, gifting, and small price transactions. Pre-paid cards are accessible
on a VISA platform, allowing access to over one lakh merchant
locations as well as cash withdrawal from all VISA ATMs in India.

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 CHAPTER 3

LITRETURE REVIEW

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LITRETURE REVIEW:

An Assessment of Corporate Cash Management Practices (1979)

Lawrence J. Gitman, Edward A. Moses,

and I. Thomas White

Although academics have created a great deal of theory on cash management, there may
still be a gap - albeit one that is maybe closing - between theory and reality. This
disparity appears to be greatest among smaller businesses. The companies examined in
this research appear to be aware of the fundamental cash management methods, albeit
they tend to prioritize collections above payments. In fact, this emphasis is similar to
that seen in the literature on cash management. The apparent failure of some firms to
more directly adapt cash management theories may be due to a lack of the quantitative
sophistication required to understand and apply these theories, or to a belief that the
high cost of implementing certain theoretical developments may not justify the potential
benefits.

Both of these hypotheses appear to be supported by the fact that the major businesses
examined appeared to employ more sophisticated tactics and, as a result, handed over
their cash more rapidly than the smaller firms.

Cash-Management in Times of Covid-19 (2021)

Fernando Alvarez and David Argente

COVID-19 has consistently reduced families' usage of cash as a form of payment, as well as
the average size and frequency of cash withdrawals. We contend that the structure of
Baumol–Tobin type inventory theoretical models and their extensions may be utilized to
isolate confounding factors from cash management behaviour, i.e., the size and frequency of
cash withdrawals. With this in mind, we contend that the observed cash management is
compatible with COVID-19, which increases the fixed cost of withdrawing cash. We estimate

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how much the pandemic has affected the transaction cost of utilizing cash by using extensive
data on ATM cash disbursements in Argentina, Chile, and the United States. According to this
estimate, doubling the virus's intensity in a county raises cash transaction cost by around 2%.
The results from Argentina, Chile, and the United States are strikingly comparable and
resistant to various types of measurement error and endogeneity.

OPTIMIZATION OF CASH MANAGEMENT FOR ATM NETWORK

(2007)
Rimvydas Simutis, Darius Dili Jonas, Lidija Bastina, Josif Friman, Pavel Drobinov

This article describes a cash management strategy for an ATM network. This method relies on
an artificial neural network to anticipate daily cash demand for each ATM in the network, as
well as an optimization technique to determine the appropriate cash load for each ATM. The
most significant elements for ATM maintenance were examined throughout the optimization
procedure: the cost of cash, the cost of cash uploading, and the cost of daily services. According
to simulation tests, in the case of a greater cost of cash (interest rate) and a lower cost of money
uploading, the optimization process provides for a 15-20% reduction in ATM maintenance
expenses. Further experimental research is required before the proposed ATM cash
management technique can be put into practice.

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 CHAPTER 4

METHODOLOGY

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METHODOLOGY:

Data collection methods:

Primary data:

• Data is collected with help of interacting with the organisation people.

• With direct observation & personally operating the work.

Secondary data:

• Website of Organisation
• Internet
• Bank reports

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 CHAPTER 5

CASH MANAGEMENT
AT
ICICI BANK

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CASH MANAGEMENT AT ICICI BANK

Meaning of cash management:

Cash management refers to the practice of collecting and managing cash flows in the business
environment. Individuals and businesses alike may benefit from good cash management
practices. It is a critical component of a company's financial stability in the business world.
When it comes to individuals, cash is not only necessary for financial stability, but it is also
typically viewed as part of a comprehensive wealth portfolio.

Individuals and organizations may take use of a wide selection of solutions available in the
financial sector to assist them with a variety of cash management requirements. The custody
of monetary assets is generally handled by banks, which are the major financial service
providers in this area. There are also several other cash management solutions available for
people and organizations looking to maximize the return on their financial assets or make the
most efficient use of their cash in a variety of ways.

Cash flow in Corporate sector:

Business managers, corporate treasurers, and chief financial officers are generally the key
persons responsible for overall cash management strategies, cash-related tasks, and stability
assessments in corporate cash management, also known as treasury management. Many
businesses may delegate some or all of their cash management obligations to third-party service
providers. Regardless, cash management professionals monitor and evaluate a number of
critical variables on a daily, monthly, quarterly, and yearly basis.

The cash flow statement is an important part of business cash flow management. While it is
frequently publicly presented to stakeholders on a quarterly basis, portions of it are typically
preserved and managed internally on a daily basis. The cash flow statement meticulously
documents all of a company's financial flows. Cash obtained from accounts receivable, cash
paid for accounts payable, cash paid for investing, and cash paid for financing are all included.
The cash flow statement's bottom line shows how much cash a firm has on hand.

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Cash management at ICICI bank:
The entire procedure of cash deposit and cash withdrawal with the assistance of a cheque and
a slip is carried out at ICICI bank with the aid of software called Finacle, which was developed
by Infosys. More than 30 banks utilize the Finacle software, which was developed by Infosys.

The cashier is responsible for the process of cash management, and the cashier department is
referred to as "Teller" in the bank. A bank teller is often in charge of making the initial
impression for a bank. They are frequently in charge of making customers feel secure,
answering essential queries, and marketing the bank's offerings. The objective is to deliver
exceptional service to the customer so that he or she would continue to utilize the bank for all
of his or her financial requirements.

Bank tellers may also be in charge of:

• Completing paperwork (deposit and withdrawal slips)

• Keeping an eye on ATM deposits and withdrawals
• Taking phone calls
• Balancing the figures at EOD.

Some basic responsibilities of Teller

• To serve the customers by completing their account transactions

• Receives deposits and loan payments, cashing checks, issues savings withdrawals.
• Answers queries in person or over the phone and, when needed, directs consumers to
other bank services.
• Cross selling other bank’s products by answering call, by giving information to the
customers of new products and services.
• Knowing customers needs and guiding them to the bank’s representative.
• Counting and packaging of currency and coins in the bank.
• Maintains cash and currency supplies and returns excess cash and mutilated money to
the head teller.
• To maintain the customers confidence and protecting the banking operations by keeping
information secret.
• Should contribute in the team work for better result.

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Skills acquired by the Teller:
• Good customer Service
• Should have good math skills
• Should pay attention to details
• Good verbal communication
• Integrity
• Should have financial skills
• Thoroughness
• Good documentation skills
• Selling to the customer needs

About Finacle software:

Banking is not immune to the digital revolution. The banking industry has changed
dramatically in the last decade in terms of how it operates. The fast growth of current
technologies such as blockchain, cloud, Open APIs, and AI has fundamentally changed
banking norms. Among these technologies, Finacle Core Banking Solution has made
significant contributions to the development of banks' digital future. It enables banks to
decrease product rollout efforts while improving customer experience.

What exactly is Finacle?

Finacle is a Core Banking Solution that provides digital banking capabilities to banks. The
program, built in Java and C/C++, was published in 1999 (Stable version released in 2000).
Finacle is used by banks in more than 100 countries and services over 1.05 billion clients and
1.3 billion accounts. It is the preferred platform for established financial institutions, financial
technology organizations (Fintech), digital-only banks, and non-financial firms.

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Finacle's Key Characteristics
Key characteristics of Finacle as used by banks

Launch of Seamless Products

Customers in the banking industry nowadays want innovation and tailored goods and services.
Finacle software assists banks in bringing new banking products to market in a timely manner.
It may be used by a variety of banks, including microfinance institutions, commercial and
public sector banks, cooperative banks, fintech firms, and non-banking providers.

Product Manufacturing Facility:

1000s of parameters and reusable business rules are available for configuring banking products
and services.

Customers will get more power:

Customer-driven design and customized products and services delivered through digital
channels.

Reusability:

Templates are used to build new products, change old ones, and launch new goods quickly.

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Configuration of third-party products

Banks' ability to put up rule-based third-party goods.

Configuration of product packages

Bundle a range of products and services to allow for right-selling.

A Cutting-Edge Digital Platform

The increasing usage of technology is changing banks. Finacle's cutting-edge digital platform
assists in embracing digital-driven growth.

Componentization Mixture Optimum

Componentized structure and component integration through API (Application Program
Interface).

APIs that are open

RESTful API extension enabling co-innovation with the external ecosystem.

Cloud Computing Capabilities

Private, hybrid, and public cloud production, development, and testing

Platform Agnostic

It is compatible with a variety of technological platforms, including IBM, Oracle, Intel, HP,
Unix, Linux, and mainframe. It provides a full stack of open-source technologies, including
the JBOSS app server, RHEL, JBPM, Drools, and Enterprise DB.

Processing in Real Time

Processes and publishes transactions in real time via own and third-party origination channels.

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How banks reduce operational costs with Finacle?

Rule-Based Automation

To automate a variety of banking activities, it utilizes classic levers such as rule-based, API
(Application programming interface)-driven processing, and BPM (Business process
management)-led process orchestration.

Robotic Process Automation powered with Artificial Intelligence

It is compatible with a wide range of AI-based platforms and applications. Robotic Process
Automation solutions can work in tandem with the Finacle Automation Platform to reduce the
time it takes to execute cross-application processes.

Blockchain-based Networks

Finacle's Blockchain technology enables banks to automate their inter-organizational

operations. It is collaborating with a number of clients to build block-chain-based networks for
banks.

Multi-Country Operational Hubs

Banks can set up regional or worldwide processing centres for specific capabilities in order to
avoid duplication of effort across many locations. (Infosys finacle, n.d.)

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Daily Teller Task at ICICI:
Let us begin with the various issues that can arise when dealing with cash at the bank. To make
a detailed record of monetary transactions is not a simple process. Every day, the cashier must
remember what the previous day's closing balance was. Not only must he remember what the
previous day's closing balance was for one cashier, but for more because a large branch has
several cashiers working, the process of taking notes on each transaction becomes difficult.
Not only is the closing balance of the bank's cash available, but the balance of the ATM CDM
is also significant. With the advancement of technology, several difficulties have arisen with
ATMs and CDMs, making it increasingly difficult for the bank to resolve these issues on a
daily basis.

Because of these issues that might arise on a regular basis, good cash management is required
for the company in order to ensure that the possibilities of a mistake occurring are kept to a
bare minimum.

In order to deal with these sort of issues, ICICI Bank has established a suitable management
structure, and for proper allocation, there is one Head cashier and the others are simply cashiers,
with the head cashier bearing the majority of the responsibility for the cash.

The head cashier, on the other hand, has a great deal more work and responsibility, which
means that the head cashier is responsible for the beginning and end of the day entries. The
head cashier (HC) will be responsible for doing the Beginning of the day (BOD) entry. The
HC will utilize Finacle software to transfer the previous day's leftover amount from the Vault
account to the Finacle account. Therefore, there is no mistake in the cash tally. All of these
entries are made electronically in Finacle, as well as physically on a slip known as a cash
movement voucher.

Whenever the BOD entries have been completed, the head cashier will send the funds to a
second cashier through IBT (Inter Bank Transfer), as the second cashier will require cash to
complete client transactions. Finacle software is also used to complete the rest of the entries in
this process. The use of software simplifies the transaction process on a daily basis. All of the
transactions are being stored and may be accessed at any time if needed.

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The Cash Movement Voucher slip shown above is used to provide physical proof of the
beginning of the day (BOD) and the end of the day (EOD). In this voucher, at the time of BOD,
the total amount is debited from the account of the Head cashier and credited from the account
of the Main vault, and in this voucher, we can see the various details to be filled for the same,
as shown above. And all of these entries are made in the Finacle program, which is controlled
by the Inter Bank Transfer command (IBT).

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Various Transactions:

The majority of monetary transactions are completed using slips and checks. Where cash
deposits and cash withdrawals are made, the cashier will be responsible for checking all of the
information of the cheque to ensure that there is no fraud or error in the process and that correct
service can be delivered to the customers in a timely manner.

So, while depositing or withdrawing, if the account holder has an account at a different branch
and does not appear for deposit or withdrawal and instead sends another person, there is a limit
of ₹25,000 for the deposit and withdraw, and any amount in excess of that will not be
completed.

As a result, the figure above depicts a slip that is used for depositing funds. Before making any
entries for the same, the cashier should double-check all of the information provided. During
this process, the cashier will verify the amount, and the person who is handing over the slip
will verify that the amount is not greater than $25,000 The owner of the branch must be present
if the branch is separate from the main office, else the maximum will be ₹25000. The Finacle
program allows you to extract information about the owner's branch and the details which are
necessary.

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In the case of a third-party deposit, it is necessary to complete the third-party declaration slip,
which is printed behind the deposit slip. An additional fee of ₹150 per transaction will be levied
in connection with the transaction. Furthermore, as previously stated, the daily maximum
limit will be ₹25000.

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The ICICI bank check seen above may be used to withdraw cash from a bank and is shown
above. In this transaction, like in the last one, the cashier must check the information of the
cheque to ensure that there is no fraud. During this process, the cashier will also compare the
signature on the cheque with the signature of the owner in the Finacle software. Both signatures
must be identical in order for the transaction to proceed. If there is any doubt, the cashier might
request that the withdrawer sign on the back side of the check once again to ensure that there
are no risks of fraud or a mistake on the part of the customer.

The cheque displayed above, on the other hand, is the cheque for the account payee. In this
type of cheque, the signature and stamps are required on the side of the cheque where the
account payee is mentioned. Otherwise, the transaction will not be completed until both the
signature and the stamp are provided. This type of cheque is only provided to current account
holder.

When dealing with withdrawals and deposits, if the total amount is less than one lakh rupees,
the cashier can complete the transaction by himself. If the transaction value is one lakh rupees
or more, the cashier will be required to pass the transaction request to the other cashier for
verification of the transaction request. Until the main cashier can verify whether the transaction
was completed by the other cashier or not with the help of Finacle software under the command
of HFIT, the transaction will be considered completed by the other cashier. The cashier can
examine all of the outstanding requests for the transaction that have not yet been completed by
using the HFIT command.

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The authenticity of the cheque, on the other hand, is verified by the UV machine that is
provided to the cashier. Here, the cheque is placed under a UV light, and the key highlights
may be seen under the UV light, allowing the cashier to verify whether or not the cheque is
authentic.

Using Finacle Software:

I stated both the transactions involving the slip and the cheque in the previous paragraph. This
program is used in combination with some specific commands that are sent to the Finacle
software. Let's have a look at those commands and learn more about them by looking at some
examples.

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Here's a look at the command that was sent to the Finacle program in the image above. As we
can see in the image, the instruction for the cash withdrawal has been sent by the system. When
you are in the Finacle, there is a Menu Shortcut option in the right-side top corner where the
cashier can give the instruction to deposit on withdrawal the CAWD command is used to make
a cash withdrawal. Following the receipt of this command, the cashier will enter the account
number in the account number box in order to verify the legitimacy of the cheque or slip. The
cashier will examine the quantity of money that is available in the account for withdrawal
because if there isn't enough money in the account, the transaction will not be completed. It is
mandatory for the cashier to verify the signature on the check in order to ensure that there is
no possibility of fraudulent activity. If the cashier has any reason to believe there is a
misunderstanding, he or she can ask the customer to sign again on the back side of the cheque,
and if anyone other than the account holder comes to withdraw money, the cashier can ask the
customer to sign and put their mobile number on the back side of the cheque.

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The process depicted in the figure above occurs once the effective balance has been verified
(Effective balance means the amount that can be withdrawn). This is referred to as
denomination, and it occurs when the cashier determines which specific notes will be delivered
to the consumer. Example: If the client requires 2,00,000, the cashier will determine which
note should be provided to the customer; if he gives 200 notes of 500 and 50 notes of 2,000, he
will describe this information in the specified format, which is illustrated in the preceding
illustration.

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Let us now look at the deposit procedure. The initial steps are the same as for a withdrawal,
however there are certain differences in the next step that apply to depositing. Whenever a
person deposits more than 49,999, the presence of Pan is required for the transaction to take
place; otherwise, the transaction will not take place. The Finacle software does not allow for
transactions to be completed without the use of a pan card, and if a person wishes to deposit a
quantity of 10,00,000 or more, a statement outlining the cause for the deposit of such a big
amount is required to be submitted. The reason for this is mainly that the RBI will verify the
explanation with the owner.

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CASH DEPOSIT MACHINE & AUTOMATED TELLER MACHINE:
Now we'll take a look at how the bank deals with automated teller machines (ATMs) and cash
deposit machines (CDMs) on a day-to-day basis. Let's start with the entries for BOD
(Beginning of the Day) entries to get things started. First and foremost, the denomination will
be taken out of the CDM machine and then the CDM amount will be transferred from the CDM
account to the vault account by the chief cashier of the bank. CDM accounts are the unique
accounts that are devoted to each and every CDM or ATM machine in the bank. In layman's
terms, the chief cashier will transfer the funds from the CDM to the vault account. From there,
the cash that has been taken out of the CDM machine will be tallied by the chief cashier for the
day. The denomination should be the same as the report that was printed out of the CDM
machine. The denomination will be specified in detail in the report, and the cash that was taken
out should be matched to the denomination.

The information provided above pertains to the routine daily operation of the CDM and ATM
machine. There are a variety of difficulties that emerge more frequently. Examples of problems
include the deposit of false notes, the sticking of notes in the machine, and a particular account
that does not represent the transaction performed by the CDM or ATM, among other things.
The cashiers will be in charge of resolving these concerns. When a note or notes become
trapped in the CDM or ATM, the customer is requested to complete a slip with the specifics of
the transactions, and the problem will be rectified within 24 working hours. Whenever a stuck
note or notes are discovered in the machine, they will be removed from the machine and an
entry will be recorded into the Finacle program. Initial transfers of funds will be made from
the blocked machine to the excess account, after which the amount will be confirmed with the
use of a slip filled out by the client and the funds will be sent to that specific customer and all
other cash-related concerns will be addressed by the cashiers, who will also make all of the
necessary entries into the Finacle accounting software.

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Check the following photos of receipts obtained from the machine when daily BOD entries

have to be completed: -

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Detailed information is provided in these images about the denomination available in the
machine, as well as specific information about the likely faulty notes. Additionally, there are
several racks in the machine in which the notes are stored, and the number of notes stored in
each rack is indicated on the receipt. The cashier can use this method to total the cash that has
been retrieved from the rack, and the details are recorded on the receipts.
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COUNTING OF CASH AND VALIDATION:
First of all, let's see how the cashier counts the cash they receive from their customer. First of
all, let's see how the cashier counts the cash they receive from their customer Normally, the
cashier is given with their own counting machine, and they are responsible for counting the
cash with the aid of that equipment. As a result, they will be able to count a bundle with each
attempt. Since a bundle will contain 100 notes, it will be easy for the cashier to keep track of
the total. A typical counting machine does nothing more than count the notes; it makes no
attempt to determine whether the notes are counterfeit or genuine.

The above-shown image is of a note-counting machine. The only thing that this machine does
is count the number of notes. Most of the time, it is programmed to count 100 notes, which
makes the cashier's job easier.

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The above shown image is of a "Note Sorting Machine". It assists the cashier in sorting the
notes into a bundle of 100 notes, which makes the cashier's job much easier and less time-
consuming. This machine also verifies the notes, determining whether or not they are
counterfeit. The note counting machine is used for small denomination notes such as $10, $20,
$50, and $100 because there is a low likelihood of counterfeit notes being found in these
denominations. False currency in high quantities such as 200, 500, and 2000 is quite easy to
get by in huge amounts like these. The small denomination mentioned above are counted in the
counting machine, and the big denomination are counted in the Note Sorting Machine, so there
is no chance of getting counterfeit notes because the note sorting machine always checks the
notes in the process to see whether they are fake or real.

SMART TCR:

What is a Teller Cash Recycler, and how does it work?

Generally, a Teller cash recycler is a technical machine that performs a couple of simple, but
critical, tasks: receiving and distributing currency. It also provides safe money storage,
maintains an accurate accounting of cash on hand, and automates the cash cycle process.
Generally, you'll find them at financial institutions such as banks and credit unions, as well as
back-office retail cash rooms.

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Deposited banknotes are put into an identifier, which determines the banknotes' denomination
and validity after they have been processed through the reader. After that, the currency is kept
in individual cassettes or modules, ready to be dispensed in subsequent transactions. As a result,
it is the precise definition of recycling: the money that is placed into a recycler is the same
money that is withdrawn from it.

Teller Cash recycling is neither a product or a service; rather, it is a strategy to cash

management that is comprehensive. Because it automates and streamlines manual cash
handling operations, it has an influence on every process and individual in a financial
institution. Teller Cash recycling increases both the productivity of employees and the
efficiency of operations. (Glory Global, 2021)

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ICMC (INTEGRATED CURRENCY MANAGEMENT CENTER):

The Reserve Bank of India Act, 1934, establishes the Reserve Bank of India as the primary
institution responsible for currency management in India. Money Management is primarily
concerned with the planning, developing, issuing, and withdrawing of currency, as well as
guaranteeing its integrity, availability, and the preservation of high-quality standards

The Reserve Bank of India has permitted banks (including ICICI Bank) to create Currency
Chests in order to simplify the distribution of currency notes and rupee coins. On behalf of the
Reserve Bank of India, bank notes and rupee coins are kept in these vaults, which are known
as depository facilities.

The advantages of an ICMC to a bank include direct dealings with the Reserve Bank of India,
currency availability at all times, and the ability to make all payments to clients exclusively
from fresh / processed currency in accordance with the Clean Note Policy.

Let us now study how ICICI Bank makes use of the ICMC's services. When a bank is in need
of cash, the bank issues an SR (Service Request) for the cash, which is then forwarded to the
ICMC, which is situated in Rajkot. Following that, the ICMC replies to the SR by transferring
the amount specified by the bank. ICICI bank not only demands cash for the bank, but also for
the use of ATMs. ICMC provides transportation in an armoured car, and then the bank's Finacle
software is used to record information about the notes that have been transferred and received
by the bank.

When receiving a mutilated note from a customer, the bank will forward it to the ICMC, where
the value of that mutilated note will be determined by the ICMC itself. (ICMC Bangalore, n.d.)

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Afterwards, when the EOD entries have been completed, the remaining denominations are
packaged into 100-note bundles, and a "Rim" is made out of ten bundles, with a note linked to
each Rim. The picture of the Rim is seen below.

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 CHAPTER 6

CONCLUSION
AND
RECOMMENDATIONS

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CONCLUSION:
After spending 30 days at ICICI bank I came to the conclusion that ICICI Bank is using
technology to offer value-added services to its clients. However, by integrating additional
technology into the bank, the process may be made far more efficient. COVID, on the other
hand, has increased the importance of e-banking in recent years. Covid has demonstrated that
digitization is increasing at an alarming rate, and as a result, banks should be providing an
increasing number of digitally aware services to customers. Because of Covid, digitalization
has seen a significant increase in the economy, as has the general public's understanding of
digitalization. As a result, financial services have grown more user-friendly in general. This
has resulted in the company's cash management being easier in recent years, thanks to the
technology that is being used and the increased usage of digitalization that has occurred in the
business. In every firm, effective cash management is critical, and developing new technologies
may assist the organization in achieving the right cash flow.

RECOMMENDATIONS:
• The organization should adapt more technology for more efficient work.
• To make good relationship with customer.
• To introduce more TCR machines.
• To give more effort for increasing the awareness about the Digital banking among the
customers.
• Improve the digitalization in the organisation.
• Using more technology to shorten the cash conversion cycle.

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BIBLIOGRAPHY

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Bibliography
(n.d.). Retrieved from ICICI Securities: ICICI Prudential mutual fund

(n.d.). Retrieved from ICICI Securities Primary Dealership Limited:

https://www.icicisecuritiespd.com/

(n.d.). Retrieved from ICICI Venture: https://www.iciciventure.com/

(n.d.). Retrieved from ICMC Bangalore: https://icmcbangalore.page.tl/

Glory Global. (n.d.). Retrieved from https://www.glory-global.com/en-gb/: https://www.glory-

global.com/en-gb/products-and-services/hardware/teller-cash-recyclers/rbg-200/

ICICI bank. (n.d.). Retrieved from ICICI Bank annual report 2021:
https://www.icicibank.com/aboutus/Annual-Reports/2020-21/AR/index.html

ICICI Lombard . (n.d.). Retrieved from ICICI Lombard Nibhay vaade:

https://www.icicilombard.com/?gclid=Cj0KCQjwiNSLBhCPARIsAKNS4_fB0j6BpO6ZYaXOrX7BJ
rReY13PZ4LdfOcNWrSo82IINUfpXtBvA2UaAhFMEALw_wcB

ICICI Prudential . (n.d.). Retrieved from ICICI Prudential mutual fund Tarakki Karein!:
https://www.icicipruamc.com/

ICICIprulife. (n.d.). Retrieved from ICICI Prudential Life Insurance: https://www.iciciprulife.com/

Infosys finacle. (n.d.). Retrieved from edgeverse: https://www.edgeverve.com/finacle/

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