Final report - Copy - research work for summer intermship project PDF

Preview

Summary

Download Final report - Copy - research work for summer intermship project PDF

Description

SUMMER TRAINING REPORT On LEVERAGING DIGITAL CHANNELS FOR ENHANCING CUSTOMERS EXPERIENCE AND ANALYSIS OF MICRO MARKET Completed In ICICI BANK Submitted In Partial Fulfillment of the Requirement Of

MASTERS OF BUSINESS ADMINISTRATION Corporate Mentor:

Submitted By:

Name: Vansla Pratap

Akshita Mittal

Designation: Senior Manager

Enr No: 00361203920

Organization: ICICI Bank

Batch: 2020-2022

Submitted To: Dr. Aparna Mishra BANARSIDAS CHANDIWALA INSTITUTE OF PROFESSIONAL STUDIES, DWARKA, NEW DELHI Affiliated to

GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY and approved by AICTE, Ministry of HRD, GOI

CERTIFICATE

BONAFIDE CERTIFICATE This is to certify that as per best of my belief the project entitled “LEVERAGING CUSTOMERS

DIGITAL EXPERIENCE

CHANNELS AND

FOR

ANALYSIS

ENHANCING OF

MICRO

MARKET” is the Bonafied research work carried out by AKSHITA MITTAL student of MBA, BCIPS, Dwarka, New Delhi during June – August 2021, in partial fulfillment of the requirements for the Summer Training Project of the Degree of Master of Business Administration. He / She has worked under my guidance.

Dr. Aparna Mishra Project Guide (Internal) Date:

Counter signed by

Dr. Aparna Mishra HOD/ Director Date:

DECLARATION I hereby declare that this Summer Training Project Report titled “LEVERAGING CUSTOMERS

DIGITAL EXPERIENCE

CHANNELS AND

FOR

ANALYSIS

ENHANCING OF

MICRO

MARKET” submitted by me to Banarsidas Chandiwala Institute of Professional Studies, Dwarka is a Bonafied work undertaken during the period from 17th May 2021 to 30th June 2021 by me and has not been submitted to any other University or Institution for the award of any degree diploma / certificate or published any time before.

(Signature of the Student) Name: Akshita Mittal Enroll. No.: 00361203920

Date:

/

/ 2021

ACKNOWLEDGEMENT

I would like to take this opportunity for extending my gratitude towards ICICI Bank for providing me the chance to undertake this internship study and allowing me to explore the expertized area of Micro Market Analysis which was entirely new to me and which will surely prove to be very beneficial to me in my future assignments, my studies and my career ahead. No job is a single man’s work as there are different factors, situations and people combine together to form the background for the accomplishment of any task. I sincerely extend my gratitude to my company guide, Ms. Vansla Pratap, ICICI Bank who played an important role in the learning and experience during my internship. Her constant monitoring, guidance and expert knowledge helped me in enhancing my knowledge and outlook towards the corporate. I would also like to mention the unconditional help put forth by the entire team member at ICICI Bank. I am deeply grateful, to my faculty guide Dr.Aparna Mishra (Director) for her valuable suggestions, comments, feedback and support throughout the internship. My heartfelt thanks towards all those people who have helped me in the preparation of this project, which has been a wonderful learning experience, without any of the above people, this project would not have seen the light of the day.

Akshita Mittal MBA (2nd Year) 00361203920

INDEX DESCRIPTION Executive Summary CHAPTER PLAN CHAPTER 1: Introduction CHAPTER 2: Company Profile a) Introduction b) History c) Board of Directors d) Products e) Comparison with Peer f) 10 Years performance g) SWOT analysis CHAPTER 3: Literature review CHAPTER 4: Objective and scope the study CHAPTER 5: Research Methodology CHAPTER 6: Data Analysis CHAPTER 7: Findings and recommendations CHAPTER 8: Limitation of the Study Annexure Bibliography

PAGE NO.

EXECUTIVE SUMMARY

The purpose of this report is to “Analyze of Micro Market” and introducing the various digital channel of bank. So, this report consists the various products and services which ICICI Bank is offering to his customers and new way of banking services. As India is going in the digitalized country so the government is providing proper infrastructure in rural and semi urban areas by this way many business companies can reach in this area and provide their product and services easily. So, the objective is to find out the business opportunity in micro market for bank and by providing products and services. The report recommends that in micro market has a huge potential with large number of customers available and there are various ways to cater those customers by different technology and digital platform. As bank has develop many services by an online platform so they have low cost in operating business activities and providing best experience to its customers without any problems. Bank is providing facilities not only for rural area people but also urban area people too. Like Mobile Banking, WhatsApp Banking, Corporate Banking, Kiosk Banking etc. So, in this report we discuss all the aspects related with bank online and offline both and business opportunity rural area with the available bank product.

CHAPTER 1 INTRODUCTION

INTRODUCTION Marketing analysis is a necessary part of planning a profitable business. Invest time in this very important step now and reap the rewards of a successful business. Before investing any money in any business, so we must gather information about our potential customers and the demand for the products and services. So, Micro market is the best market to find the potential customers. Micro Market is that market in which there is direct interaction with the customers’ needs by the companies. This market helps the companies for taking decisions “What to make?” for the customers because in this market marketer has the specific information that has been collected from them. So, the companies have the clear view of what kind of products or services customers of that small segment are demanding. Micro Market has a high potential for provide customers’ needs and wants, their likes and dislikes etc. So, the company will take decision accordingly. As this market has a small number of customers so the chances of collecting data is quite easy but time-consuming process. Micro market can give the huge amount of contribution in the GDP of the country if the government policies and financial sector restructure it properly. After all micro market is going beyond the tight focus of the customers with the high potential and make a strong connection with the customers and expend their client basic. So, if we talk about banking sector in micro market, they have good number of customers with different needs and cater them with their products and services.

CHAPTER 2 COMPANY PROFILE

ICICI BANK ICICI Bank Limited is an Indian multinational banking and financial services company with its registered office in Vadodara, Gujarat and corporate office in Mumbai, Maharashtra. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management. The bank has a network of 5,275 branches and 15,589 ATMs across India and has a presence in 17 countries. ICICI Bank is one of the Big Four banks of India. The bank has subsidiaries in the United Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Qatar, Oman, Dubai International Finance Centre, China] and South Africa as well as representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also established branches in Belgium and Germany.

BASIC INFORMATION Type Founded

Public 5 January 1994; 27 years ago,

Headquarters

(Registered Office) ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara, Gujarat, India, (Corporate Office) ICICI Bank Towers, Bandra Kurla complex, Mumbai, Maharashtra, India

Key people

Girish Chandra Chaturvedi (Chairman) Sandeep Bakhshi (MD & CEO)

Products

Retail banking, corporate banking, investment banking, mortgage loans, private banking, wealth management, credit cards, finance and insurance

Revenue

₹161,192 crore (US$23 billion) (2021)

Net income

₹20,220 crore (US$2.8 billion) (2021)

Number of employees

97,354 (2020)

HISTORY ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI), an Indian financial institution, as a wholly owned subsidiary in 1994 in Vadodara. The parent company was formed in 1955 as a joint-venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project financing to Indian industry. The bank was founded as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to ICICI Bank. The parent company was later merged with the bank. ICICI Bank launched internet Banking operations in 1998. ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering of shares in India in 1998, followed by an equity offering in the form of American depositary receipts on the NYSE in 2000. ICICI Bank acquired the Bank of Madura Limited in an all-stock deal in 2001 and sold additional stakes to institutional investors during 2001–2002. 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 a financial institution from non-Japan Asia to be listed on the NYSE. 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 the Reserve Bank of India in April 2002. In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and branches in some locations due to rumours of an adverse financial position of ICICI Bank. The Reserve Bank of India issued a clarification on the financial strength of ICICI Bank to dispel the rumours.

In March 2020, the board of ICICI Bank Ltd. approved an investment of Rs 1,000 crore in Yes Bank Ltd. This investment resulted in ICICI Bank Limited holding in excess of a five percent shareholding in Yes Bank.

BOARD OF DIRECTORS Designation

Name

Non-Executive (part-time) Chairman

Girish Chandra Chaturvedi

Independent Director

Hari L. Mundra

Government Nominee Director

Lalit Kumar Chandel

Independent Director

S. Madhavan

Independent Director

Neelam Dhawan

Independent Director

Radhakrishnan Nair

Independent Director

Rama Bijapurkar

Independent Director

B. Sriram

Independent Director

Uday Chitale

Executive Director

Anup Bagchi

Managing Director & CEO

Sandeep Bakhshi

Executive Director

Sandeep Batra

Executive Director

Vishakha Mulye

PRODUCTS ICICI Bank offers products and services like an online money transfer and tracking service, current account, savings account, time deposits, recurring deposits, mortgage, loans, automated lockers, credit cards, prepaid cards, debit card and a digital wallet called ICICI pockets. ICICI bank launched 'ICICIStack' which provides online services like payment options, digital account solutions, instant car loans, insurance, investments, loan solutions, etc. It will provide a safe and uninterrupted banking facilities to the customers. SAVINGS ACCOUNTS 1) Insta Save Account •

Monthly average balance- Rs.10000/-

•

Open your Insta Save Account instantly online

•

Experience 24*7 banking access with the best mobile banking app in India, iMobile* and Internet Banking services

•

Exciting offers on restaurants near you; online shopping – electronics, groceries, apparels and accessories; travel and much more with Insta Save Accounts

•

Get a Platinum Debit Card and earn reward points on spends

•

All your Platinum Debit Card benefits now safely available on your iMobile using the Virtual Debit Card facility

•

Enjoy 5 free ATM withdrawals at any banks’ ATM every month

•

Get air accident insurance of Rs. 50,000 with Insta Save Accounts

•

Get purchase protection of Rs. 50,000 for goods purchased using ICICI Bank Debit Card from theft, fire or loss in transit till 90 days from the date of purchase

•

Get free monthly email statements

•

Enjoy debit card offers and much more with Insta Save Accounts

•

Complete your verification through Video KYC and get a full-fledged Digital Account

2) The ONE Savings Account This is a premium savings account for the achiever. With this account, one can satisfy various goals like securing family’s future, achieving financial goals, and above all, upgrading lifestyle. Features of ‘The ONE’ Savings Account •

Benefits on home loans

•

Waiver of brokerage on equity investments up to ₹22,500

•

Exclusive life insurance and health insurance offers

•

Subscription to premium services such as Amazon Prime and Zomato Pro

•

Exclusive offers at Big Basket

•

Unlimited free transactions at ATMs of all banks

•

Discounts on locker rentals up to 40%

3) NPS Plus Savings Account With our NPS Plus Savings Account, one can save taxes, increase savings and avail special banking benefits. Also get to enjoy exclusive offers and secure the golden years of life that follow retirement. Features of NPS Plus Savings Account •

Low fund management charges on your mutual fund investments

•

Choice of multiple investment options like PPF, ELSS and tax-saver FDs

•

Unlimited ATM withdrawals

•

Complimentary insurance benefits

•

Discounts on processing fees for home loans, auto loans and personal loans

4) Regular Savings Account •

Monthly average balance-₹10,000

•

Access ICICI Bank lockers across the country for your valuables

•

Five free ATM withdrawals every month at ATMs of all the banks

•

Smart Shopper Silver Debit Card with exciting offers and Visa Privileges

•

Free user-friendly internet banking and mobile banking services

•

24/7 banking with an extensive range of Touch Banking branches and ATMs

•

Issue cheques freely all across the country with your free multi-city cheque book and track your account with your free passbook. Bank from any branch of ICICI Bank, anywhere. Transfer your savings account from one branch of ICICI Bank to another by submitting a written request at the branch or by calling our customer care number.

5) Silver Savings Account •

Monthly average balance- ₹25,000

•

A discount of 15% on annual locker rentals

•

Free unlimited access to ATMs of all the banks

•

Smart Shopper Silver Debit Card with exciting offers and Visa Privileges

•

Free user-friendly internet banking and mobile banking services

•

24/7 banking with an extensive range of Touch Banking branches and ATMs

•

Free e-mail statements to keep you updated about your savings account

•

Issue cheques freely all across the country with your free multi-city cheque book and track your account with your free passbook. Free Anywhere Banking across all branches of ICICI Bank. Transfer your savings account from one branch of ICICI Bank to another by submitting a written request at the branch or by calling our customer care number.

6) Gold Privilege Savings Account •

Monthly average balance-₹50,000

•

A discount of 20% on annual locker rentals

•

Free unlimited access to ATMs of all the banks

•

Gold Privilege Debit Card with exciting offers and Visa Privileges

•

Free user-friendly internet banking and mobile banking services

•

24/7 banking with an extensive range of Touch Banking branches and ATMs

•

Free e-mail statements to keep you updated about your savings account

•

Issue cheques freely all across the country with your free multi-city cheque book and track your account with your free passbook. Bank from any branch of ICICI Bank, anywhere. Transfer your savings account from one branch of ICICI Bank to

another by submitting a written request at the branch or by calling our customer care number. •

Exclusive privilege banking zones at our branches

7) Titanium Privilege Savings Account •

Monthly average balance-₹1,25,000

•

A discount of 40% on annual locker rentals

•

Free unlimited access to ATMs of all the banks

•

Free Titanium Privilege Debit Card with exciting offers and Visa Privileges

•

Free user-friendly internet banking and mobile banking services

•

24/7 banking with an extensive range of Touch Banking branches and ATMs

•

Free e-mail statements to keep you updated about your savings account

•

Issue cheques freely all across the country with your free multi-city cheque book and track your account with your free passbook. Free Anywhere Banking across all branches of ICICI bank. Transfer your savings account from one branch of ICICI Bank to another by submitting a written request at the branch or by calling our customer care number.

•

A dedicated privilege banker. Exclusive privilege banking zones in our branches. Waiver of the trading account opening fee of ₹975 and of the first year demat Annual Maintenance Charge (AMC) of ₹500

8) 3 in 1 Savings Account •

3-in-1 Account is a combination of Trading Account, Savings Account and Demat Account opened and linked together for seamless transactions.

•

Trade and invest in a wide range of products like Equity, Derivatives, IPOs, Mutual Funds, etc.

•

All-inclusive and low brokerage charges

•

Accessibility on multiple platforms through mobile, desktop, website so that you do not miss out on any investment opportunity.

CURRENT ACCOUNTS 1) Smart Business Account 2.0 Ivy A very special Smart Business Account that offers special privileges to high end businesses! It adjusts itself with your business cycle and gives you offerings with a minimum Quarterly Average Balance (QAB) of only Rs...