COMPARATIVE STUDY ON SERVICES PROVIDED BY ICICI BANK

AND HDFC BANK

A. GENERAL MANAGEMENT:
1) INTRODUCTION TO THE INDUSTRY

As per the Reserve Bank of India (RBI), India’s banking sector is sufficiently capitalized and
well-regulated. The financial and economic conditions in the country are far superior to any
other country in the world. Credit, market and liquidity risk studies suggest that Indian banks are
generally resilient and have withstood the global downturn well.
Indian banking industry has recently witnessed the roll out of innovative banking models like
payments and small finance banks. RBI’s new measures may go a long way in helping the
restructuring of the domestic banking industry.
The digital payments system in India has evolved the most among 25 countries with India’s
Immediate Payment Service (IMPS) being the only system at level 5 in the Faster Payments
Innovation Index (FPII).

FACTS ABOUT THE SECTOR

MARKET SIZE

The Indian banking system consists of 18 public sector banks, 22 private sector banks, 46 foreign
banks, 53 regional rural banks, 1,542 urban cooperative banks and 94,384 rural cooperative
banks as of September 2019. In FY07-18, total lending increased at a CAGR of 10.94 per cent
and total deposits increased at a CAGR of 11.66 per cent. India’s retail credit market is the fourth
largest in the emerging countries. It increased to US$ 281 billion on December 2017 from US$
181 billion on December 2014.
GROWTH RATE 

The growth of financial sector in India at present is nearly 8.5% per year. The rise in the
growth rate suggests the growth of the economy. The financial policies and the monetary policies
are able to sustain a stable growth rate.

The reforms pertaining to the monetary policies and the macroeconomic policies over the last
few years have influenced the Indian economy to the core. The major step towards opening up of
the financial market further was the nullification of the regulations restricting the growth of the
financial sector in India. To maintain such a growth for a long term the inflation has to come
down further.

The financial sector in India had an overall growth of 15%, which has exhibited stability over the
last few years although several other markets across the Asian region were going through
turmoil. The development of the system pertaining to the financial sector was the key to the
growth of the same. With the opening of the financial market variety of products and services
were introduced to suit the need of the customer. The Reserve Bank of India (RBI) played a
dynamic role in the growth of the financial sector of India.

CONTRIBUTION TO GDP

Not just globally, the Indian banking sector has proved its true worth back home as well. This
can be inferred from the valuable contribution of our banks, both nationalized and private, for
boosting up the national economy.  
Currently, the banking industry holds pride in contributing nearly 7.7% to the national GDP.
Besides that, our banks are the prime employment generators for almost 1.5 million people in the
country.  
CHALLENGES & OPPORTUNITIES

THE GROWTH DRIVERS:

1. Economic and demographic drivers

Favorable demographics and rising income levels.

India ranks among the top six economies with a GDP of US$ 2,597 in 2017 and economy is
forecasted to grow at 7.3 per cent in 2018.

The sector will benefit from structural economic stability and continued credibility of Monetary
Policy.

2. Common Service Center (CSC)

The Government of India plans to allow Common Service Centers (CSC) to offer banking
services.

3. Policy support

The government passed the Banking Regulation (Amendment) Bill 2017, which will empower
RBI to deal with NPAs in the banking sector.

The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 Bill has been passed by
Rajya Sabha and is expected to strengthen the banking sector

In May 2018, the Government of India provided Rs 6 trillion (US$ 93 billion) loans to 120
million beneficiaries under Mudra scheme.

4. Infrastructure financing

India currently spends 6 per cent of GDP on infrastructure; NITI Aayog expects this fraction to
grow going ahead.

As per the Union Budget 2018-19, the Indian infrastructure sector requires an investment of Rs
50 lakh crore (US$ 772 billion).
 5. Pradhan Mantri Vaya Vandana Yojna

The scheme was launched on March 28, 2018 to provide social security to elderly people by
providing Rs 10,000 (US$ 155) pension per month.

The scheme has subscription limit till 31st March 2020.

The scheme has investment limit of Rs 15 lakh (US$ 23,274).

6. Government initiatives

Reserve Bank of India (RBI) has decided to set up Public Credit Registry (PCR) an extensive
database of credit information which is accessible to all stakeholders.

The Government of India is planning to inject Rs 42,000 crore (US$ 5.99 billion) in the public
sector banks by March 2019 and will infuse the next tranche of recapitalization by mid
December 2018.

On January 01, 2018, new norms for restructuring of existing loans to Micro, Small and
Medium enterprises (MSMEs) have been released by the Reserve Bank of India

KEY SUCCESS FACTORS IN THE BANKING INDUSTRY

Key success factors refer to those factors which are important to future competitive success of
industry members .These factors include product attributes , competitive capabilities , resources ,
competencies , market achievements etc. . It is very important for the strategists to understand
the landscape of industry in order to identify the most important competitive success factors. Due
to changes in driving forces and competitive conditions, the key success factors of one industry
differ from other. Banking industry is broadly divided into two types of banks i. e. Virtual banks
and brick and mortar banks. The key success factors of banking industry are discussed below.
Technology 
Latest technology plays a very important role in the banking Industry. It helps to introducing
innovative products according to the demand of consumers. Technology can be used to lower
down the cost of transaction and improve the quality of products. For example when the banks
realized that they can lower down their transaction cost by installing ATMs and debit cards they
did so. If saved the overhead cost and improved convenience for customer by providing 24 / 7
service. Online banking is increasing tremendously due to rapid technological change, 
 Best rates 
Industry of virtual banking is attracted by low cost. Competition is such high that to survive in
industry low cost is very important. As virtual banks have no physical existence of branches and
ATM network so they have great advantage to offer their products at lower rates than brick and
mortar banks. Due to low overhead cost virtual banks are charging lower transaction cost which
gives them a plus point 
 Product innovation 
Product Innovation is one of the major success factors in the banking industry. Since all the
banks are offering similar products therefore differentiation is very important for the future
survival, Banks are trying to come with different innovative products in order to differentiate
themselves from other banks. 
 Quality
Service Quality includes all the dimensions of quality which the consumers want. Brick and
mortar banks have the advantage to directly contact with the customers due to which customers
feel satisfaction. On the other hand, in virtual banks there is lack of person - to - person contact
which forced consumers to resolve their problems over the phone or via E - Mail. In many cases
such contacts frustrate some customers.
 Brand image (recognition) 
Brand image plays an important role in selecting the product or bank. For example City group
and Bank of America are two major players in the industry with huge resources and they have
major market share as well. That’s why most of the people wish to be their customers. On the
other hand, virtual banks are not so much popular and have a low market share. In this way
market share and brand awareness within brand awareness within banking industry is major
concern for them.
  Size of the company 
Size of the company is an important key success factor. In banking industry size of bank refers to
the total market share , total assets , total number of branches and ATM ' s , total number of
customers etc. . Brick and mortar banks have a good market share due to which they can
compete effectively. Contrary, virtual banks have relatively lower market share in USA banking
industry which is a major problem for them. 

 Location and convenience 

It is important to note that convenience attracts consumers. For example if a bank has wider
network then it will be convenient for the customers to make transactions easily. In this case
virtual banks have advantage over brick and mortar banks. Internet only banks can be accessed
anywhere in the world through internet. Virtual banks have no ATM network and no branches,
requiring customers to use other banks ' ATMs, or by using cash - back services with debit cards.
The growth of the internet in the last few years, has forced many brick - and - mortar banks to
consider and develop online banking

ROAD AHEAD
Enhanced spending on infrastructure, speedy implementation of projects and continuation of
reforms are expected to provide further impetus to growth. All these factors suggest that India’s
banking sector is also poised for robust growth as the rapidly growing business would turn to
banks for their credit needs.
Also, the advancements in technology have brought the mobile and internet banking services to
the fore. The banking sector is laying greater emphasis on providing improved services to their
clients and also upgrading their technology infrastructure, in order to enhance the customer’s
overall experience as well as give banks a competitive edge.
India’s digital lending stood at US$ 75 billion
GOVERNMENT INITIATIVES

 As per Union Budget 2019-20, the government has proposed fully automated GST refund
module and an electronic invoice system that will eliminate the need for a separate e-way bill.
 Under the Budget 2019-20, government has proposed Rs 70,000 crore (US$ 10.2 billion)
to the public sector bank.
 Government has smoothly carried out consolidation, reducing the number of Public
Sector Banks by eight.
 As of September 2018, the Government of India has made the Pradhan Mantri Jan Dhan
Yojana (PMJDY) scheme an open ended scheme and has also added more incentives.
 The Government of India is planning to inject Rs 42,000 crore (US$ 5.99 billion) in the
public sector banks by March 2019 and will infuse the next tranche of recapitalization by
mid-December 2018.

EMERGING TRENDS

1. Digitization:

With the rapid growth of digital technology, it became imperative for banking and financial
services in India to keep up with the changes and innovate digital solutions for the tech-savvy
customers. Besides the financial institutions, insurance, healthcare, retail, trade, and commerce
are some of the major industries that are experiencing the enormous digital shift. To stay
competitive, it is necessary for the banking and financial industry to take the leap on the digital
bandwagon.

In India, it all began not earlier than the 1980s when the banking sector introduced the use of
information technology to perform basic functions likes customer service, book-keeping, and
auditing. Soon, Core Banking Solutions were adopted to enhance customer experience.
However, the transformation began in the 1990s during the time of liberalization, when the
Indian economy exposed itself to the global market. The banking sector opened itself for private
and international banks which are the prime reason for technological changes in the banking
sector. Today, banks and financial institutions have benefitted in many ways by adopting newer
technologies. The shift from conventional to convenience banking is incredible.
Modern trends in banking system make it easier, simpler, paperless, signature less and branchless
with various features like IMPS (Immediate Payment Service), RTGS (Real Time Gross
Settlement), NEFT (National Electronic Funds Transfer), Online Banking, and Telebanking.
Digitization has created the comfort of “anywhere and anytime banking.” It has resulted in the
reduced cost of various banking procedures, improved revenue generation, and reduced human
error. Along with increased customer satisfaction, it has enabled the customers creating
personalized solutions for their investment plans and improve the overall banking experience.

2. Enhanced Mobile Banking:

Mobile banking is one of the most dominant current trends in banking systems. As per the
definition, it is the use of a smartphone to perform various banking procedures like checking
account balance, fund transfer, and bill payments, without the need of visiting the branch. This
trend has taken over the traditional banking systems. In the coming years, mobile banking is
expected to become even more efficient and effortless to keep up with the customer demands.
Mobile banking future trends hint at the acquisition of IoT and Voice-Enabled Payment Services
to become the reality of tomorrow. These voice-enabled services can be found in smart
televisions, smart cars, smart homes, and smart everything. Top industry leaders are
collaborating to adopt IoT-connected networks to create mobile banking technologies that
require users’ voice to operate.

3. UPI (Unified Payments Interface):

UPI or Unified Payments Interface has changed the way payments are made. It is a real-time
payment system that enables instant inter-bank transactions with the use of a mobile platform. In
India, this payment system is considered the future of retail banking. It is one of the fastest and
most secure payment gateways that is developed by National Payments Corporation of India and
regulated by the Reserve Bank of India. The year 2016 saw the launch of this revolutionary
transactions system. This system makes funds transfer available 24 hours, 365 days unlike other
internet banking systems. There are approximately 39 apps and more than 50 banks supporting
the transaction system. In the post-demonetization India, this system played a significant role. In
the future, with the help of UPI, banking is expected to become more “open.”

4. Block Chain:

Block chain is the new kid on the block and the latest buzzword. The technology that works on
the principles of computer science, data structures and cryptography and is the core component
of crypto currency is said to be the future of banking and financial services globally. Blockchain
uses technology to create blocks to process, verify and record transactions, without the ability to
modify it.

NITI Aayog is creating India Chain, India’s largest blockchain network, which is expected to
revolutionize several industries, reduce the chances of fraud, enhance transparency, speed up the
transaction process, lower human intervention and create an unhackable database. Several
aspects of banking and financial services like payments, clearance and settlement systems, stock
exchanges and share markets, trade finance, and lending are predicted to be impacted. With its
strenuous design, blockchain technology is a force to be reckoned with

5. Artificial Intelligence Robots:

Several private and nationalized banks in India have started to adopt chatbots or Artificial
intelligence robots for assistance in customer support services. For now, the use of this
technology is at a nascent stage and evolution of these chatbots is not too far away. Usage of
chatbots is among the many emerging trends in the Indian banking sector that is expected to
grow.
More chatbots with the higher level of intelligence are forecasted to be adopted by the banks and
financial institutions for improved customer interaction personalized solutions. The technology
will alleviate the chances of human error and create accurate solutions for the customers. Also, it
can recognize fraudulent behavior, collate surveys and feedback and assist in financial decisions.

6. The rise of Fintech Companies:

Previously, banks considered Fintech companies a disrupting force. However, with the changing
trends in the financial services sector in India, fintech companies have become an important part
of the sector. The industry has emerged as a significant part of the ecosystem. With the use of
financial technology, these companies aim to surpass the traditional methods of finance. In the
past few decades, massive investment has been made in these companies and it has emerged into
a multi-billion-dollar industry globally.

Fintech companies and fintech apps have changed the way financial solutions are provided to the
customers. Besides easy access to financial services, fintech companies have led to a massive
improvement in services, customer experience, and reduced the price paid. In India, the dynamic
transformation has been brought upon by several important elements like fintech startups,
established financial institutions, initiatives like “Start-Up India” by Government of India,
incubators, investors, and accelerators. According to a report by National Association of
Software and Services Companies (NASSCOM), the fintech services market is expected to grow
by 1.7 times into an $8 billion market by 2020.

7. Digital-Only Banks:

It is a recent trend in the Indian financial system and cannot be ignored. With the entire banking
and financial services industry jumping to digital channels, digital-only banks have emerged to
create paperless and branchless banking systems. This is a new breed of banking institutions that
are overtaking the traditional models rapidly. These banks provide banking facilities only
through various IT platforms that can be accessed on mobile, computers, and tablets. It provides
most of the basic services in the most simplified manner and gives access to real-time data. The
growing popularity of these banks is said to be a real threat to traditional banks.
ICICI Pockets is India’s first digital-only bank. These banks are attractive to the customers
because of their cost-effective operating models. At the same time, though virtually, they provide
high-speed banking services at very low transaction fees. In today’s fast lane life, these banks
suit the customer needs because they alleviate the need of visiting the bank and standing in a
queue.

8. Cloud Banking:

Cloud technology has taken the world by storm. It seems the technology will soon find its way in
the banking and financial services sector in India. Cloud computing will improve and organize
banking and financial activities. Use of cloud-based technology means improved flexibility and
scalability, increased efficiency, easier integration of newer technologies and applications, faster
services and solutions, and improved data security. In addition, the banks will not have to invest
in expensive hardware and software as updating the information is easier on cloud-based model

9. Biometrics:

Essentially for security reasons, a Biometric Authentication system is changing the national
identity policies and the impact is expected to be widespread. Banking and financial services are
just one of the many other industries that will be experiencing the impact. With a combination of
encryption technology and OTPs, biometric authentication is forecasted to create a highly-secure
database protecting it from leaks and hackers attempts. Financial services in India are exploring
the potential of this powerful technology to ensure sophisticated security to customers’ account
and capital.

10. Wearables:

With smartwatch technology, the banking and financial services technology is aiming to create
wearables for retail banking customers and provide more control and easy access to the data.
Wearables have changed the way we perform daily activities. Therefore, this technology is
anticipated to be the future retail banking trend by providing major banking services with just a
click on a user-friendly interface on their wearable device.

These are some of the recent trends in the banking and financial sector of India and all these new
technologies are predicted to reshape the industry of business and money. The future is going to
bring upon a revolution of sorts with historical changes in traditional models. The massive shift
in the landscape has few challenges. Nonetheless, the customers are open to banking innovations
and the government is showing great support with schemes like “Jan Dhan Yojana,” which aims
at proving a bank account to every citizen. Meanwhile, the competition from the foreign and
private sector banks have strained the government regulators, nationalized banks and financial
institutions to adopt new technology in order to stay relevant in the race.
INTRODUCTION TO COMPANY

HISTORY & EVOLUTION

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution,
and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46%
through a public offering of shares in India in fiscal 1998, an equity offering in the form of
ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited in
an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional
investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World
Bank, the Government of India and representatives of Indian industry. The principal objective
was to create a development financial institution for providing medium-term and long-term
project financing to Indian businesses.
 
In the 1990s, ICICI transformed its business from a development financial institution offering
only project finance to a diversified financial services group offering a wide variety of products
and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank.
In 1999, ICICI become the first Indian company and the first bank or financial institution from
non-Japan Asia to be listed on the NYSE.
 
After consideration of various corporate structuring alternatives in the context of the emerging
competitive scenario in the Indian banking industry, and the move towards universal banking,
the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI
Bank would be the optimal strategic alternative for both entities, and would create the optimal
legal structure for the ICICI 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.
 
In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI
and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services
Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by
shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at
Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve
Bank of India in April 2002. Consequent to the merger, the ICICI group's financing and banking
operations, both wholesale and retail, have been integrated in a single entity.
 
ICICI Bank has formulated a Code of Business Conduct and Ethics for its directors and
employees

VISION:
To be the leading provider of financial services in India and a major global bank

MISSION:
We will leverage our people, technology, speed and financial capital to:

 Be the banker of first choice for our customers by delivering high quality, world-class
products and services.
 Expand the frontiers of our business globally.
 Play a proactive role in the full realization of India's potential.
 Maintain a healthy financial profile and diversify our earnings across businesses and
geographies.
 Maintain high standards of governance and ethics.
 Contribute positively to the various countries and markets in which we operate.
 Create value for our stakeholders.
MILESTONE ACROSS YEARS

  1955: The Industrial Credit and Investment Corporation of India (ICICI) Ltd
incorporated; A R Mudaliar elected as chairman
 1977: ICICI sponsors the formation of Housing Development Finance Corporation,
manages its first equity public issue
 1982: First Indian borrower to raise European Currency Units; starts leasing business
1985: N Vaghul becomes chairman 
 1986: ICICI, with UTI, sets up Credit Rating Information Services of India, India’s first
professional credit rating agency; promotes Shipping Credit and Investment Company
  1993: Promotes TDICI, India's first venture capital company, now known as ICICI
Ventures 
 1994:ICICI Bank set up
  1996:ICICI first company in the Indian financial sector to raise GDR; K V Kamath made
MD & CEO of ICICI Ltd  
   1997:SCICI merged with ICICI Ltd 
 1998: ICICI launches retail finance — car loans, house loans and loans for consumer
durables 
 1999:ICICI Ltd becomes the first Indian company and the first financial institution from
Asia (ex-Japan) to list on the NYSE
  2000:ICICI Bank becomes the first Indian company to list on the NYSE; enters life
insurance business; announces merger with Bank of Madura
  2001:ICICI enters general insurance business; introduces concept of floating rate for
home loans
  2002:ICICI Ltd merged with ICICI Bank 
 2004: Launches mobile banking services in India
  2005:First Indian company to make a simultaneous equity offering of $1.8 billion in
India, the United States and Japan 
  2006: ICICI Bank becomes the first Indian bank to issue hybrid  Tier-1 perpetual debt in
the international markets
  2007:ICICI Bank's $2-bn 3- tranche international bond offering is the largest bond
offering by an Indian bank 2009: Chanda D Kochhar appointed MD & CEO of ICICI
Bank 
 2010: RBI approves amalgamation of Bank of Rajasthan with ICICI Bank 2011:ICICI
Bank and Vodafone Essarink pact for financial inclusion 
 2012:ICICI Bank rolls out 25 electronic branches and launches many next-generation
banking solutions; launches the first electronic toll collection project ,ICICI Bank sets up
Infrastructure Debt Fund — first debt fund to get government’s go ahead, ICICI Bank
first bank in India to offer one-of-its kind "Your Bank Account" app, which allows access
to bank account information on Facebook
  2013:ICICI Bank launches ‘Branch on Wheels’ in Maharashtra – first private sector
bank to launch mobile branch with ATM
 2015:ICICI Bank inaugurates its 4000th bank branch
 2019 : ICICI-Videocon loan case
 2020 :- ICICI Bank inaugurates the first ‘Wealth Management’ branch for HNIs in
Odisha,ICICI Bank launches ‘iBox’, a unique self-service delivery facility for
customers,ICICI Bank introduces ‘Cardless Cash Withdrawal’ through ATM using
‘iMobile,ICICI Bank launches India’s largest API Banking portal with nearly 250 APIs

GROUP OPERATION OF ICICI BANK

Central Operations Group 

Central Operations Group is responsible for Collections, Payments and Government Business
Operations. Facilitates transaction and acquisition of product for corporate customers in domestic
and international branches as also business groups.
Retail Operations Group 
Retail Operations Group supports processing operations of retail liabilities, retail assets, cash
management, Demat, rural liabilities & assets and credit card
 ICICI BANK’S RETAIL BANKING PRODUCTS AND SERVICES

ICICI Bank offers a host of products and services to its clients, which include Deposits, Loans,
Cards, Investments, Insurance, Demat, NRI Services and Online Services etc.
Deposits
Following deposits are offered:

 Savings Account
 Advantage Deposit
 Special Savings Account
 Life Plus Senior Citizens Savings Account
 Fixed Deposits
 Security Deposits
 Recurring Deposits
 Tax-Saver Fixed Deposit
 Young Stars Savings Account
 Child Education Plan
 Bank@Campus
 Salary Account
 Advantage Woman Savings Account
 EEFC Account
 Resident Foreign Currency (Domestic) Account
 Privilege Banking
 No Frills Account
 Rural Savings Account
 People's Savings Account
 Self Help Group Accounts
 Outward Remittance
 Freedom Savings Account
 Family Banking

Loans
ICICI Bank offers following loan facilities:

 Home Loans
 Loan Against Property
 Personal Loans
 Car Loans
 Two Wheeler Loans
 Commercial Vehicle Loans
 Loans Against Securities
 Loan Against Gold Ornaments
 Pre-approved Loans
ICICI Home Loans
ICICI Bank is the largest provider of Home Loans in India. ICICI Home Loans offer unbeatable
benefits to ensure that its clients get the best deal without any hassles. ICICI Bank Home Loans
provide loans not only at competitive interest rates, but also are so designed that they cater to the
specific needs of consumers.
New products / New features in existing products are introduced from time to time based on
customer feedback. ICICI Bank offers easy home loans for purchase or construction of flat or
house.
 The benefits associated with ICICI Home Loans which give them an edge over other players in
the market are:

 Attractive and customer friendly loan interest rates

 Loans as low as INR 0.2 million is available
 Term loans up to 20 years is available
 Loans come with a Free Personal Accident Insurance Policy
 Premium charged in case of insurance options for Home Loans is also attractive.
 Simplified Documentation
 Doorstep Service
 Home Loans can be sanctioned even before selecting a property
(All the above facilities are situational and subject to changes according to the company's
discretion.)
With varied offering of house loans and home finance, ICICI Bank Home Loans provide a
variety of options to its customers from which they can choose the one that suits them the best.
The various policies or terms of ICICI Home Loans are:

 Fixed Rate Home Loan

 Adjustable Rate Home Loan or Floating Rate Home Loan
 Partly Fixed and Partly Floating Rate Home Loan
 Smartfix Home Loan
 Moneysaver Home Loan
The other types of loans include Land Loans, Office Premises Loans, Home Improvement Loan
and Home Loan for NRI. One can also leverage his/her existing property to get a Loan against
Property, Property Overdraft or Lease Rental Discounting. All of these are available at a fixed
rate or an adjustable rate of interest.
Another significant feature of ICICI Home Loans is that it allows the customer transfer the
balance of his/her existing home loan from other banks. Moreover, the Home Loans are also
liable to tax benefits.
 Thus,for all good reasons mentioned above, ICICI Home Loans have been and will be the most
sought after in the distant future.

ICICI Bank Credit Cards

The provision of paying for an expensive commodity in easy installments is the basic advantage
of using a credit card. An ICICI Credit Card provides the facility of cash, convenience and a
range of benefits, anywhere in the world.

The benefits associated with ICICI Bank Credit cards are:

 Free cards for a lifetime

 Insurance benefits
 Global emergency assistance service
 Discounts
 Utility payments
 Travel discounts and and a few others.
ICICI Bank also offers a range of cards, each designed for a specific purpose as follows:
 Premium Card
 Co-branded Card
 Classic Card
 Affinity Card
 Picture Card
 Corporate Card
 EMI Card
 Preferred Card
 Value for Money Card
The Premium Credit Card from ICICI Bank provides the card bearer, the benefits of owning an
exclusive Credit Card for his/her convenience and usage. The card includes special deals to
complement the bearer's lifestyle. Other cards in this category include Super Gold Credit Cards,
Platinum Credit Cards along with Travel Cards for Airmiles, the best holiday packages and air
tickets. A Golf Credit Card comes with a free membership of the Indian Golf Union along with
 special Golfing benefits.
The Co-branded Credit Card provides access to various useful commodities the consumption of
which would otherwise be expensive. For example an ICICI Bank Co-branded Card of a
departmental chain can enable the consumer to buy commodities at a lesser cost than he would
normally have to do without the card.
The Classic Credit Card category comprises the following:
 ICICI Bank Sterling Silver Credit Card
 ICICI Bank - American Express Green Credit Card
 ICICI Bank Visa Mini Card
 ICICI Bank Online Credit Card
EMI Credit Card provides unique credit facility, where the customer's monthly EAD (EMI
Amount Due) is fixed and inclusive of all charges. Any incremental purchases will not increase
the EAD paid by the customer but only result in the proportionate increase in the tenure of
repayment.
The Value for Money Credit Card is the first in India of its kind. A no-frills Card packed with
benefits that matter. India's only internationally valid Value for Money Photo Card offers an
unmatched combination of features and convenience.
Thus as the introduction on credit card facility has brought about a revolution in the world of
purchases, the ICICI Credit Card has only taken this facility to the next level much to the
convenience of its millions of users worldwide.

ICICI Bank Investments Plans

 ICICI Bank Tax Saving Bonds
 Mutual Funds
 Government of India Bonds
 Initial Public Offers (IPO) by Corporates
 Foreign Exchange Services
 ICICI Bank Pure Gold
 Senior Citizens Savings Scheme, 2004
 Insurance Plans
 Home Insurance
 Health Insurance
 Health Advantage Plus
 Family Floater
 Personal Accident
 Travel Insurance
 Individual Overseas Travel Insurance
 Student Medical Insurance
 Motor Insurance
 Car Insurance
 Two Wheeler Insurance
 Life Insurance
 ICICI Pru LifeTime Gold
 ICICI Pru LifeState RP
NRI Services by ICICI Bank
Following services are offered to the NRIs:

 Money Transfer
 Bank Accounts
 Investments
 Home Loans
 Insurance
 Loans Against FD
ICICI Mobile Banking
A user friendly automated service menu offers customers, a convenient access to their accounts
coupled with security. All the transactions are protected by a ATM PIN (Personal Identification
Number) which is a personal password to their respective Bank & Credit Card Account and Tpin
in case of Demat Account . Any additional assistance is provided by the Phone Banking Officers
(PBOs).
 Self-Phone Banking (IVR) Access Mechanisms are as follows :

 For Deposits, customer needs to key-in his ATM or Debit Card Number and its
corresponding ATM PIN.
 For Credit Cards , customer needs to key-in his 16 digit Card Number and its
corresponding ATM PIN.
 For Demat Account Holders , customer needs to key-in his 14 Digit Demat Account
Number and its TPIN
 For Bond Account Holders, customer needs to key in the Bond Holder Number only.
 All the above facilities are obtained absolutely free of charge.
Some of the Phone Banking services offered by ICICI Bank are:
Bank services:

 Account Balance
 Mini Statement
 Cheque Book Request
 Cheque Status Enquiry
 Stop Cheque Payment
 Utility Bill Payment
 Internet Userid
 Mobile banking Registration
Card Services:

 Outstanding Balance
 Details of Last Statement
 Details of Last Payment
 Last five Transactions
 Reward Points status
 Demat Services:

 ISIN query
 Holding statement
 Transaction History
 Submitting Delivery Instructions
 Request for Instruction Booklet
 Information on Redemption:
 Information on Interest
 Information on Despatch of Bonds certificates
Other Services:

 Loss or Replacement of card

 Re-issue of ATM PIN
 Standing Instructions
 Complaints and suggestions
 Inquire about any ICICI Bank product

ORGANOGRAM HIGHLIGHTING LEADERSHIP 

BOARD 
CEO Sandeep Bakhshi
Chairman of the Board Girish Chaturvedi
Director Rama Bijapurkar
Director Lalit Chandel
Director@ ICICI Lombard Uday Chitale
Director Neelam Dhawan
Director S. Madhavan
Director Hari Mundra
Director @ ICICI Prudential Life Insurance, Radhakrishnan Nair
ICICI Securities Primary Dealership
Director B. Sriram
N-1 Rakesh Jha

CFO, Director @ ICICI Venture

PROFILES OF KEY DECISION MAKERS AT TOP MANAGEMENT

1. Mr. Anup Bagchi, Executive Director
 Mr. Anup Bagchi is an Executive Director on the Board of ICICI Bank since February 1,
2017. Prior to this, Mr. Bagchi was the Managing Director & CEO of ICICI Securities
Limited. Under his leadership, ICICI Securities won several prestigious awards in the
financial services space.
 In his present role in ICICI Bank Mr. Bagchi is responsible for managing retail banking,
rural and inclusive banking, treasury control and services, operations, infrastructure, and
the corporate brand for the bank. Additionally, he heads the ICICI Foundation for
Inclusive Growth, the CSR arm of the ICICI Group.
 Mr. Bagchi joined the ICICI Group in 1992 and has worked extensively in the areas of
retail banking, corporate banking and treasury and investment banking. He represents the
ICICI Group in various regulatory committees of key bodies such as RBI and SEBI. He is
a member of RBI’s Expert Committee on Micro, Small & Medium Enterprises and of
SEBI’s Committee on Financial and Regulatory Technologies (CFRT) among others.
 In the past too Mr. Bagchi has been a member in several committees of various
organisations. He was on the Executive Committee of National Securities Depository
Ltd., (NSDL), Advisory Committee of BSE Limited and was co Chairman of FICCI’s
Capital Markets Committee. He was also a member of SEBI’s Secondary Markets
Advisory Committee (SMAC), Fair Market Conduct Committee and Committee on
Financial and Regulatory Technologies and Risk Management Review Committee.
 Mr. Bagchi has a management degree from the Indian Institute of Management,
Bangalore and an engineering degree from the Indian Institute of Technology, Kanpur.
He has been honored with The Asian Banker Promising Young Banker Award and
`Industry Newsmaker Award’ by Zee Business.
2. Mr. Sandeep Bakhshi, Managing Director & CEO
 Mr. Sandeep Bakhshi is the Managing Director and CEO of ICICI Bank since October
15, 2018. Prior to his appointment as MD & CEO, he was a Wholetime Director and the
Chief Operating Officer (COO) of the Bank.
 Mr. Bakhshi has been with the ICICI Group for 32 years and has handled various
assignments across the group in ICICI Limited, ICICI Lombard General Insurance, ICICI
Bank and ICICI Prudential Life Insurance.
 He grew up in a defence services family and has attended several schools and colleges
across India before completing his management studies from XLRI in Jamshedpur.
3. Ms. Vishakha Mulye, Executive Director
 Ms. Vishakha Mulye is an Executive Director on the Board of ICICI Bank since January
2016. She heads the Domestic and International Wholesale Banking, Markets and
Commercial Banking businesses at the Bank.
 Ms. Mulye, a Chartered Accountant, has been with the ICICI Group since 1993. In her
career, she has handled several responsibilities in the areas of strategy, treasury &
markets, proprietary equity investing and management of long-term equity investments,
structured finance, management of special assets and corporate & project finance.
 Ms. Mulye led the team that planned and executed the merger of ICICI and ICICI Bank
in 2002. She also led the team which negotiated and concluded the merger of erstwhile
Sangli Bank with ICICI Bank. From 2002 to 2005, she was responsible for the Bank's
structured finance and global markets businesses, and its financial institutions’
relationships. In 2005, she took over as the Group Chief Financial Officer. In 2007 she
was elevated to the Board of ICICI Lombard General Insurance Company and in 2009,
she assumed leadership of ICICI Venture Funds Management Company as its MD &
CEO. Currently, apart from ICICI Bank, Ms. Mulye is also on the board of ICICI
Lombard General Insurance and chairs the board of ICICI Bank Canada.
 Ms. Mulye is a member of Aspen Institute’s 'India Leadership Initiative'. She was also
selected as 'Young Global Leader' in 2007 by the World Economic Forum. She received
the ‘India CFO Award’ in 2006 from IMA India for 'Excellence in Finance in a Large
Corporate' and ‘CA Corporate Leader Award’ in 2008 from the Institute of Chartered
Accountants. In February 2012, she received the ‘GR8! Women Awards’ from the Indian
 Television Academy for her contribution as an ‘Eminent Personality in the field of
Banking’. In March 2019, she was felicitated at News 18 Lokmat’s award ceremony
‘Mukta Sanman’ for her work in the field of Business and Finance.

FACILITIES
 Corporate Office

ICICI Bank Ltd.

ICICI Bank Towers, 
Bandra Kurla Complex,
Mumbai-400051
 Regional Office

1. The Regional Head-Bangalore
  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   Regional Office , 11 C Mittal Towers, M.G. Road
   Bangalore (Karnataka)  

1) The Regional Head-Bhilwara

  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   Subash Nagar, Ajmer Road,
   Bhilwara-311001

2) The Regional Head-Bikaner

  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   33-34, Panchsati Circle, Sadulganj
   Bikaner-334003                

3) The Regional Head-Chandigarh
  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   Regional Offic , SCO 127-128, Sector 17-C
 4) The Regional Head-   Indore
  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   22 Yashwant Niwas Road
   Indore (M.P.) 
  

5) The Regional Head -  Jaipur

  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   Block No.6,Jaipur Stock Exchange Building,
   J.L.N. Marg,Jaipur 302017 (Rajasthan)

6) The Regional Head -Jodhpur

  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   3/A, Chopasani Road,
   Opp, Bombay Motors,
   Jodhpur-342003

7) The Regional Head- Kolkata 

  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   Regional Office , Hall & Anderson Building, 31
Chowringhee Road

8) The Regional Head- Kota

  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   Regional Office , Aerodram Circle

9) The Regional Head-Mumbai
  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   Regional Office, Raghuvanshi Mills
   11/12, Senapati Bapat Marg
   Lower Parel (W),   
   Mumbai - 13 
 

10) The Regional Head- New Delhi

  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   E-17, 2nd Floor,
   South Extn.II.
   New Delhi-110005

11) The Regional Head -Udaipur

  ICICI Bank Limited
   erstwhile The Bank Of Rajasthan Limited
   Clock Tower,  P.B.No.16,
   Udaipur - 313 001

 Branch Offices – Indian & Global

 ICICI Bank currently has a network of 5,275 branches and 15,589 ATMs across India.

KEY FINANCIAL RATIOS OF ICICI BANK

(In Rs. Cr.) MAR MAR

'19 '18

INVESTMENT VALUATION RATIOS

Face Value 2.00 2.00

Dividend Per Share 1.00 1.50

Operating Profit Per Share (Rs) -15.45 10.76

 Net Operating Profit Per Share (Rs) 98.35 85.51

Free Reserves Per Share (Rs) -- --

Bonus in Equity Capital 9.04 9.06

PROFITABILITY RATIOS

Interest Spread 6.36 6.43

Adjusted Cash Margin (%) 5.31 10.44

Net Profit Margin 5.30 12.33

Return on Long Term Fund (%) 38.13 38.54

Return on Net Worth (%) 3.19 6.63

Adjusted Return on Net Worth (%) 3.19 6.63

Return on Assets Excluding Revaluations 163.3 158.9

8 1

Return on Assets Including Revaluations 168.1 163.5

0 9

MANAGEMENT EFFICIENCY RATIOS

Interest Income / Total Funds 6.90 6.68

Net Interest Income / Total Funds 2.94 2.80

Non-Interest Income / Total Funds 1.58 2.12

Interest Expended / Total Funds 3.96 3.88

Operating Expense / Total Funds 4.02 1.96

Profit Before Provisions / Total Funds 0.41 2.86

 Net Profit / Total Funds -1.77 0.68

Loans Turnover 0.12 0.11

Total Income / Capital Employed (%) 8.48 8.80

Interest Expended / Capital Employed (%) 3.96 3.88

Total Assets Turnover Ratios 0.07 0.07

Asset Turnover Ratio 0.07 0.07

PROFIT AND LOSS ACCOUNT RATIOS

Interest Expended / Interest Earned 57.39 58.11

Other Income / Total Income 18.63 24.07

Operating Expense / Total Income 47.45 22.25

Selling Distribution Cost Composition 1.14 0.73

BALANCE SHEET RATIOS

Capital Adequacy Ratio 16.89 18.42

Advances / Loans Funds(%) 75.11 74.18

DEBT COVERAGE RATIOS

Credit Deposit Ratio 90.54 92.92

Investment Deposit Ratio 33.84 34.68

Cash Deposit Ratio 5.85 6.17

Total Debt to Owners Fund 7.77 7.28

Financial Charges Coverage Ratio 1.67 1.80

Financial Charges Coverage Ratio Post 1.11 1.24

 Tax

LEVERAGE RATIOS

Current Ratio 0.12 0.12

Quick Ratio 18.66 20.44

CASH FLOW INDICATOR RATIOS

Dividend Payout Ratio Net Profit 28.69 21.50

Dividend Payout Ratio Cash Profit 23.31 19.28

Earning Retention Ratio 71.31 78.50

Cash Earning Retention Ratio 76.69 80.72

AdjustedCash Flow Times 157.7 74.22

0

GLOBAL REACH

ICICI Bank Limited is a leading private sector bank in India with active international operations.
Currently, the Bank has subsidiaries in Canada and the United Kingdom; branches in Bahrain,
China, Dubai International Finance Centre, Hong Kong, Singapore, South Africa, Sri Lanka, and
the United States; and representative offices in Bangladesh, Indonesia, Malaysia and the United
Arab Emirates. The Bank’s wholly owned subsidiary ICICI Bank UK Plc has seven branches in
the United Kingdom and a branch in Germany.

 Bahrain
 Germany
 Hong Kong
 Singapore
 Sri Lanka
 UK
 USA

ICICI BANK TREASURY RESEARCH TEAM

The Treasury Research team is the in-house research team of the Global Markets Group at ICICI
Bank. The team believes in an ear-to-the ground approach to research, dovetailing the signals
received real-time to the overall macroeconomic context.
 
The research work can be broadly segregated into two segments - thematic and market oriented
research tracking currency, fixed income and commodity markets. It also includes bespoke items
of analysis that can arise out of constant interaction with various clients, channel checks and
interaction with stake holders from the industry.
 
More specifically, important aims are to understand key issues pertaining to global economy and
to provide high-quality analyses that are relevant for the clients.

SOCIAL MEDIA PRESENCE

ICICI Bank has two social media banking channels - Pockets for Facebook and ICICI Bank pay
for Twitter. You can check your balance, pay a friend, recharge your prepaid mobile phone,
book movie tickets and even split group expenses with your friends on Pockets
LITERATURE REVIEW

SMARTBOX AND ICICI BANK JOIN HANDS TO SIMPLIFY SELF-DELIVERY WITH

AUTOMATED SMART LOCKER - IBOX

02-07-2020 10:51 AM CET | IT, New Media & Software

Press release from: Smart box Ecommerce Solution Pvt. Ltd.

POWERED BY SMARTBOX, IBOX IS ICICI BANKS FIRST OF ITS KIND 24X7 SELF-
SERVICE DELIVERY PLATFORM
The global provider of automated smart locker technology, Smartbox recently joined hands with
ICICI Bank to launch its new product iBox. White-labeled as iBox, the automated shipment
delivery terminals and the software that runs these terminals are designed and perfected by
Smartbox and will offer the banks' customers the flexibility to pick-up their bank deliverables
like Cheque Book, Debit Card, Credit Card, Bank Statements, etc., 24x7 without compromising
the safety of the parcels. Currently, ICICI has deployed these terminals in more than 50 of its
branches across 17 cities.
Working and busy customers are either not available at home or do not have the time in the
office to take critical bank deliverables. However, a 24x7 flexible pickup option is a huge
advantage, allowing customers to personally collect the parcels at their convenience. iBox--
powered by Smartbox--will now offer ICICI Bank customers the flexibility to collect their bank
deliverables from a bank branch which is near their office or residence whenever they want as
these terminals are installed in banks' lobbies (next to the ATMs) making them accessible even
beyond the branch working hours.
HOW IBOX WORKS? IT IS SIMPLE
1. Customers order a Cheque Book, Debit Card or Credit Card and choose to pick up the same
from iBox
2. Customers receive an SMS on their registered mobile number
3. Customer visits the iBox terminal and enters their registered mobile number, enter the OTP
and pick up their deliverable as part of enhanced security, iBox allows live tracking of the status
of the dispatched deliverable. This means that as soon as a package reaches a particular iBox, the
owner of the package is informed via an SMS carrying its GPS location along with OTP and a
QR code. The customer simply needs to visit the iBox terminal, enter the OTP or scan the QR
code to retrieve their parcel.
The self-service delivery facility allows the customers to pick up their parcel anytime within 7
days from the receipt of confirmation SMS
Speaking on this collaboration, Mr. Amit Sawhney, Co-founder & CEO of Smartbox said, "We
[Smartbox Team] are very excited about this collaboration. Banks have enhanced many of their
customer-facing, front-end operations with digital solutions. But many processes at bank
branches still rely on people and paper. With iBox, ICICI Bank has taken an intelligent step
towards eliminating the costly and slow manual processing of customer requests which often
lead to inconsistent results. Our smart banking lockers will help the bank unlock value and offer
an experience-driven banking ecosystem.
HISTORY

HDFC Bank was incorporated in 1994, with its registered office in Mumbai, Maharashtra, India.
Its first corporate office and a full service branch at Sandoz House, Worli were inaugurated by
the then Union Finance Minister, Manmohan Singh.

As of June 30, 2019, the Bank's distribution network was at 5500 branches across 2,764 cities.
The bank also installed 4.30 Lakhs POS terminals and issued 235.7 Lakhs debit cards and
1.2 crores credit cards in FY 2017

VISION STATEMENT

"To become the market leader in Housing Development Finance in Sri Lanka"

MISSION

We define our mission in the broader context of our shareholders, customers, staff, the national
economy, regulators and the natural environment.

 To our shareholders, our mission is to optimize returns.

 To our customers, our mission is to provide a caring service by anticipating their

requirements and innovatively satisfying them beyond their expectations.

 To our staff, our mission is to identify their multi-faceted talents, develop, motivate,
recognize and reward them towards fulfilment of the institutional and national housing
vision.
  To the national economy and the industry regulator, we are the key driver and thought
leader, shaping and financing the national housing policy.

 To our natural environment, we enforce sustainable practices across all our activities.

MILESTONE

 1995: HDFC bank receives banking license, IPO 55 times oversubscribed, first corporate
office and branch opened & listed on BSE, NSE
 1997: Maiden dividend announced, times bank merger, new logo launched, times bank
merger, launched online real-time net banking & launched first international debit card in
india
 2000: Launched first SMS-based mobile banking; first bank in India to launch mobile
banking & listed on NYSE
 2001: Becomes first private bank to be authorized to collect income tax
 2002: ISO certification for depository services and custodial services
 2003-04: Credit card launched in over 100 cities, touching 1 million users
 2006: Women’s cards launched
 2008: Centurion bank of Punjab merged & first overseas branch launched
 2010: LAUNCHED 40% faster ATMS
 2011: Market leadership in auto and personal loans, credit cards
 2012: JOSH unlimited launched
 2013: SLI touches 2 million households
 2013-14: Becomes the market leader in issuing credit card
 2014: Blood donation camp wins Guinness world record
 2015: HDFC mobile banking has largest number of mobile transactions, share offering
oversubscribed over 4 times, launched its anthem – MOGO & introduced 10-second
personal loan & launched CHILLR and PAYZAPP
  2016: Launched missed call mobile recharge service, launched loans at ATMS utility,
becomes the #1 issuer of credit cards & 10th anniversary of All-India blood donation
drive
 2017: IRA launched, EVA chatbot introduced, digital las launched, Forbes honor for our
bank, ZIIEI launched to improve quality of education in schools & #1 for 4th consecutive
year & josh unlimited becomes a registered trademark
 2018: MD Aditya Puri conferred business world lifetime achievement award & IRA 2.0
launched
 2019: MR PURI conferred prestigious AIMA-JRD tata corporate leadership award, our
bank collects 3 lakh units at 12th all-India blood donation drive, Asia money awards our
bank ‘best digital bank’ in India

ORGANOGRAM

BOARD

Mana Aditya Puri

Chairman of the Board Shyamala Gopinath

Director Srikanth Nadhamuni

Director Sandeep Parekh

Director Malay Patel

Director MD Ranganath

Director Sanjiv Sachar

Director Umesh Sarangi

FACILITIES

HEADOFFICE
No. 6/242, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013

REGIONAL OFFICE

Bank House, Dr Annie Besant Rd, Shiv Sagar Estate, Worli, Mumbai, Maharashtra 400018

BRANCH

As of June 30, 2019, the Bank's distribution network was at 5500 branches across 2,764 cities

SOCIAL MEDIA PRESENCE

A bank that caters primarily to the business community, HDFC is doing a commendable job both
online and offline. It has established its presence on the 3 largest social media platforms:
Facebook, Twitter and YouTube.

In all these 3 channels, it is making all the efforts it can to not only address customer issues and
market itself, but also as a platform to promote its CSR activities

 Facebook: Boasting of more than 800k likes, HDFC Bank’s Facebook page is primarily
used as a platform to push its marketing messages. I find it a little overt in self-
promotion. They could do with some more customer centric helpful updates, which are
updated very few and far in between. And it seems they have started with Facebook
Advertising aggressively

Twitter: HDFC Bank has 2 separate Twitter handles taking care of its communication. On one
hand they have @HDFC Bank Offers which is primarily a marketing channel, on the other hand
you have @HDFC_Bank which handles all the customer issues over twitter.

 Campaign: The 7 Day, 7 Resolution campaign is basically a discount/offer campaign

which is exclusive for HDFC customers. But unfortunately, the campaign has failed to
generate any buzz on Facebook. In fact, it has led to a decrease in the engagement rate of
the community. You can see from the screenshots above that the engagement has
decreased 66% with this campaign.
SOCIAL RELEVANCE

CORPORATE GOVERNANCE OF ICICI BANK LTD

The Corporate Governance framework at ICICI Bank lay emphasizes on adhering to Good
Corporate Governance norms. And for its effective implementation Bank has an efficient Board
which constitutes Independent Directors, the separation of the Board’s supervisory role from the
management and the structure based on Board Committees, which are chaired by independent
Directors, to keep an eye on significant issues.

Code of Commitment

ICICI Bank follows a voluntary Code, which sets minimum standards of banking practices when
they are dealing with individual customers. Philosophy on Code of Corporate Governance ICICI
Bank’s Corporate Governance philosophy encapsulates regulatory, legal requirements and also
several voluntary practices which aim at a high level of business ethics for safeguarding the
interest of all related stakeholders. The Corporate Governance framework followed by the Bank
also includes significant portion of the recommendations given by the Corporate Governance
Enactments and initiating regulatory bodies. Code of Conduct and Business Ethics ICICI Group
expects all its employees, officers and directors to act in accordance with high professional and
ethical standards.

Whistle Blower Policy

ICICI Bank has also introduced a Whistle Blower Policy. As per this policy, employees of ICICI
group are free to raise issues related to accounting policies and procedures related to any area or
item and report them back to the Audit Committee through specific channels. This system has
been communicated to the employees through Bank’s intranet.

ICICI Bank follows a voluntary Code, which sets minimum standards of banking practices when
they are dealing with individual customers. Philosophy on Code of Corporate Governance ICICI
Bank’s Corporate Governance philosophy encapsulates regulatory, legal requirements and also
several voluntary practices which aim at a high level of business ethics for safeguarding the
interest of all related stakeholders. The Corporate Governance framework followed by the Bank
also includes significant portion of the recommendations given by the Corporate Governance
Enactments and initiating regulatory bodies. Code of Conduct and Business Ethics ICICI Group
expects all its employees, officers and directors to act in accordance with high professional and
ethical standards. Whistle Blower Policy ICICI Bank has also introduced a Whistle Blower
Policy. As per this policy, employees of ICICI group are free to raise issues related to accounting
policies and procedures related to any area or item and report them back to the Audit Committee
through specific channels. This system has been communicated to the employees through Bank’s
intranet.

Audit Committee

The Audit Committee provides direction to the audit function and monitors the quality of internal
and statutory audit. The responsibilities of the Audit Committee include overseeing the financial
reporting process to ensure fairness, sufficiency and credibility of financial statements,
recommendation of appointment and removal of central and branch statutory auditors and chief
internal auditor and fixation of their remuneration, approval of payment to statutory auditors for
other permitted services rendered by them, review of functioning of Whistle Blower Policy,
review of the quarterly and annual financial statements before submission to the Board, review
of the adequacy of internal control systems and the internal audit function, review of compliance
with inspection and audit reports and reports of statutory auditors, review of the findings of
internal investigations, review of statement of significant related party transactions, review of
management letters/letters on internal control weaknesses issued by statutory auditors, reviewing
with the management, the statement of uses/application of funds raised through an issue (public
issue, rights issue, preferential issue, etc.), the statement of funds utilized for the purposes other
than those stated in the document notice and the report submitted by the monitoring agency,
monitoring the utilization of proceeds of a public or rights issue and making appropriate
recommendations to the Board to take steps in this matter, discussion on the scope of audit with
external auditors and examination of reasons for substantial defaults, if any, in payment to
stakeholders. The Audit Committee is also empowered to appoint/oversee the work of any
registered public accounting firm, establish procedures for receipt and treatment of complaints
received regarding accounting and auditing matters and engage independent counsel as also
provide for appropriate funding for compensation to be paid to any firm/advisors. In addition, the
Audit Committee also exercises oversight on the regulatory compliance function of the Bank.
The Audit Committee is also empowered to approve the appointment of the CFO (i.e., the whole
time Finance Director or any other person heading the finance function or discharging that
function) after assessing the qualifications, experience and background, etc. of the candidate

Board of Directors

ICICI Bank has a broad-based Board of Directors, constituted in compliance with the Banking
Regulation Act, 1949, the Companies Act, 1956 and listing agreements entered into with stock
exchanges, and in accordance with good Corporate Governance practices. The Board functions
either as a full Board or through various committees constituted to oversee specific operational
areas. The Board has constituted ten committees, namely, Audit Committee, Board Governance,
Remuneration & Nomination Committee, Corporate Social Responsibility Committee, Credit
Committee, Customer Service Committee, Fraud Monitoring Committee, Information
Technology Strategy Committee, Risk Committee, Share Transfer & Shareholders’/Investors’
Grievance Committee and Committee of Executive Directors. These Board Committees other
than the Committee of Executive Directors currently consist of majority of independent Directors
and most of the Committees are chaired by independent Directors. Corporate Social
Responsibility Committee The Board of Directors at its Meeting held on October 30, 2009
constituted the Corporate Social Responsibility Committee. The Committee is empowered to
review the corporate social responsibility initiatives undertaken by the ICICI Group and the
ICICI Foundation for Inclusive Growth, make recommendations to the Board with respect to the
corporate social responsibility initiatives, policies and practices of the ICICI Group and to review
and implement, if required, any other matter related to corporate social responsibility initiatives
as recommended/ suggested by RBI or any other body.

Board Governance

The functions of the Committee include recommendation of appointments to the Board,

evaluation of the performance of the Managing Director & CEO and whole time Directors on
predetermined parameters, recommendation to the Board of the remuneration (including
performance bonus and perquisites) to whole time Directors, approval of the policy for and
quantum of bonus payable to the members of the staff, framing of guidelines for the Employees
Stock Option Scheme and recommendation of grant of ICICI Bank stock options to the
employees and whole time Directors of ICICI Bank and its subsidiary companies.

CORPORATE GOVERNANCE OF HDFC BANK LTD

The Bank believes in adopting and adhering to the best recognized corporate governance
practices and continuously benchmarking itself against each such practice. The Bank understands
and respects its fiduciary role and responsibility towards its shareholders and strives hard to meet
their expectations. The Bank believes that best board practices, transparent disclosures and
shareholder empowerment are necessary for creating shareholder value.
 
The Bank has infused the philosophy of corporate governance into all its activities. The
philosophy on corporate governance is an important tool for shareholder protection and
maximization of their long term values. The cardinal principles such as independence,
accountability, responsibility, transparency, fair and timely disclosures, credibility, sustainability
etc. serve as the means for implementing the philosophy of corporate governance in letter and
spirit.

CODE OF CONDUCT

 This Code of Ethics / Conduct intends to ensure adherence to highest business and ethical
standards while conducting the business of the Bank and compliance with the legal and
regulatory requirements, including compliance of Section 406 of the Sarbanes-Oxley Act
of 2002 and the rules and regulations framed thereunder by the Securities and Exchange
Commission of USA and other statutory and regulatory authorities in India and USA. The
 Bank values the ethical business standards very highly and intends adherence thereto in
every segment of its business
 This Code of Ethics/Conduct is applicable to the following persons.
The Board Members
Officials of the Bank one level below the Board
 The Board members / Officials shall engage in and promote honest and ethical conduct of
business, including the ethical handling of actual and / or apparent conflicts of interest
between personal and professional relationships.

 The Board members / Officials shall avoid conflict of interest and disclose to the Board
any material transaction or relationship that reasonably could be expected to give rise to
such a conflict.
 The Board members / Officials shall ensure and take all reasonable measures to protect
the confidentiality of non-public information about the Bank, its business, customers and
other materially significant information obtained or created in connection with any
activities with the Bank and to prevent the unauthorized disclosure of such information
unless required by applicable laws or regulations or legal or regulatory process.
 The Board members / Officials shall endeavor to produce full, fair, accurate, timely and
understandable disclosures in reports and documents that the Bank files with or submits
to the Securities and Exchange Commission and other regulators and in other public
communications made by the Bank.

PROTECTION OF THE ENVIRONMENT

“At HDFC Bank, we sincerely aim to reduce our negative impact on the environment. We are committed
to measuring and reducing our greenhouse gas emissions as well as material usage. As a responsible
financial institution, we are also resolved to assess and monitor our transactions to reduce
environmental risk and impact of our portfolio. We shall engage our employees, customers and
shareholders to encourage environment-friendly practices across our value chain”
FUNCTIONAL PERSPECTIVE

OBJECTIVE OF PROJECT

 To study the customer satisfaction with HDFC Bank and ICICI Bank
 To analyse the decision making process of the consumers
 To know the position of the bank in today's economic conditions 
 To understand the products and services provided by these banks
 To study the customer perception towards HDFC Bank and ICICI Bank
 To study the problems faced by the marketing staff of ICICI Bank and HDFC Bank 

SOURCE OF DATA COLLECTION:

The study in hand is primary in nature,

which seeks out to identify the buying
PRIMARY RESEARCH behavior of consumer towards high
end gourmet products and organic or
natural products.
With the view of assimilating the
information first hand questionnaire
was designed end to end keeping in
mind the objective.

Data was readily available from other

SECONDARY RESEARCH sources such as the company’s official
website, Business journals and the
internet where wide knowledge about
different areas is easily available
A. NATURE OF RESEACH Descriptive in nature

B. DATA COLLECTION METHOD Survey and Scheduled method

C. DATA COLLECTION TYPE Quantitative data

D. DATA COLLECTION TOOL Structured Questionnaire and

Survey

E. POPULATION UNDER STUDY

F. SAMPLE SIZE 120

G. METHOD OF SAMPLING
 H. TOOLS OF DATA ANALYSIS Excel and Pie chart

DATA ANALYSIS

1) Age (Years )

NO OF RESPONDENTS

Above 55
13%
26-40
38%
Below 25
24%

41-55
26%

26-40 YEARS 41-55 YEARS BELOW 25 ABOVE 55

NO OF 45 31 29 15
RESPONDENTS
PERCENTAGE 37% 26% 24% 13%
1) Occupation

NO OF RESPONDENTS

12%

33% Full time job

13%
Part time job
Housewife
Student

43%
QUESTIONNAIRE

2) Age (Years ) 6) Which bank gives you more return?

 Below 25
 26-40
 ICICI
 41-55
 HDFC
 Above 55
 Others
3) Occupation
 Full time 7) Which bank has more branches
across the country?
 Part time

 Housewife  ICICI

 HDFC
 Student
 Others

4) In which bank do you have an

account? 8) Are you satisfied with services of

 ICICI bank?

 HDFC  Yes

 Others  No

9) Your open account decisions are

5) Which bank is more secure?
influenced by 

 ICICI
 Oneself 
 HDFC
 Broker 
 Others

 Market Research

 Friends/Relatives
  Other  Yes

 No

10)What are the factors which you

considered before opening account in

a particular Bank?

 Financial Position 13) Reasons for Not Using Mobile Banking

Services offered by HDFC Bank / ICICI

 Current Market Position
Bank?

 Goodwill  Not Aware about the services

 Don’t think Mobile Banking Services

 Future Prospects
are secure
 Any others
 Other reasons

11) According to you which bank enjoys 14) Are you aware of all the Accounts
provided by your bank?
good reputation in market?
 Yes

 No
 ICICI
15)Which loan have you taken from your
 HDFC
bank?

 Others  Home loan

12) Are you using Mobile Banking services  Car loan

offered by HDFC / ICICI Bank?  Personal loan

  Commercial vehicle loan 17)Are you aware of all investments
provided by your bank?
 Loan against securities
Yes

16)Which card you find more secure? No

 Debit card

 Credit card

18)Which bonds will you prefer to buy? 20) Rate the overall
satisfaction with the
 ICICI bonds services of HDFC / ICICI
Bank?
 HDFC bonds
a. Highly Satisfactory
b. Satisfactory
19) Which bank do you think will
c. Average
provide security against life?
d. Dissatisfactory
 ICICI life Insurance
e. Highly Dissatisfactory
 HDFC Standard life

insurance

20)From which insurance company

would you like to take motor
insurance?

ICICI

HDFC

Others
REFERENCES

 https://rrjournals.com/past-issue/a-case-study-on-corporate-governance-of-icici-bank-ltd/. 

 https://www.business-standard.com/article/companies/60-years-of-icici-bank-major-
milestones-115010300030_1.html
 https://shodhganga.inflibnet.ac.in/bitstream/10603/110135/16/16_chapter4.pdf