Micro Market Study for ICICI Bank for Silvassa PDF

Preview

Summary

SUMMER INTERNSHIP PROGRAM – PROJECT REPORTLEVERAGING DIGITAL CHANNELS FOR ENHANCINGCUSTOMER EXPIRIENCE AND MICRO MARKET ANALYSIS(REPORT ON MICRO-MARKET ANALYSIS FOR ICICI BANK)M. S. PATEL INSTITUTE OF MANAGEMENT STUDIESTHE MAHARAJA SAYAJIRAO UNIVERSITY OF BARODAIn partial fulfillment of the requirem...

Description

SUMMER INTERNSHIP PROGRAM – PROJECT REPORT LEVERAGING DIGITAL CHANNELS FOR ENHANCING CUSTOMER EXPIRIENCE AND MICRO MARKET ANALYSIS (REPORT ON MICRO-MARKET ANALYSIS FOR ICICI BANK)

M. S. PATEL INSTITUTE OF MANAGEMENT STUDIES THE MAHARAJA SAYAJIRAO UNIVERSITY OF BARODA In partial fulfillment of the requirement of Summer Internship Project for the award of the degree of Master of Business Administration (MBA)

NAME: PARTHAV PATEL ICICI APPLICANT ID: 4033255 SEAT NO.: 300082

`1 | P a g e

`2 | P a g e

DECLARATION

I, Parthav Patel student of 2nd semester MBA, Faculty of Management Studies, The Maharaja Sayajirao University of Baroda, hereby declare that the dissertation entitled “LEVERAGING DIGITAL CHANNELS FOR ENHANCING CONSUMER EXPERIENCE AND ANALYSIS OF MICROMARKET” embodies the report of my project work carried out independently by me during 23thMay, 2020 to 6thJuly, 2020 at ICICI BANK under the supervision of Ms. Charu Shreya and Mr. Gaurang Mehta.

I further declare that the personal data and information received from any respondents has not been shared with anyone and is used for academic purpose only.

`3 | P a g e

Preface Today, Management is must for day-to-day life. Management is the integral part of the business. In this world, all things need proper management for its success. Business without proper management is like a castle of sand built on seashore. Even individuals need proper management for running their life smoothly. Only theoretical knowledge is not enough in MBA along with one needs some practical exposure in the corporate world also.

In MBA theory of any subject is important but without its practical knowledge it becomes useless, particularly for the Management Students. As a student of the Business Administration, we have studied many theories and concepts in the classroom, but only after taking up this project work, we have experienced & understood those Management theories & practices in its fullest sense, which plays a very vital role in business field today. The knowledge of management is incomplete without knowing the practical application of the theories studied.

Project report plays an important role as a part of the curriculum of MBA in The Maharaja Sayajirao University of Baroda. Consequent report on the industry allowed studying us the real business environment. This practical training in the field of MBA program develops the feeling of awareness in management student about the difficulties and challenges of the business world. Only theoretical knowledge does not impart complete education. It is accompanied with practical experience to add meaning to education. Here I have tried my level best to represent my project report and explain my understanding level through it.

`4 | P a g e

TABLE OF CONTENTS

Sr. PARTICULARS no. ACKNOWLEDGEMENT

PAGE NO. 6

1 DEFINITION

7

2 STRUCTURE OF INDIAN BANKING SYSTEM

7

3 COMPANY PROFILE ICICI BANK 1. HISTORY 2. SUBSIDIARIES OF ICICI BANK 3. BOARD DIRECTORS 4. BUSINESS OBJECTIVE 5. AWARDS – 2020 6. ICICI BANK – PRODUCT PORTFOLIO

10

4 RESEARCH METHODOLOGY

19

5 MICRO-MARKET AND ITS ANALYSIS

20

6 FINDINGS

35

7 CONCLUSION

35

8 BIBLIOGRAPHY

36

`5 | P a g e

ACKNOWLEDGEMENT

It is not possible to prepare a project without the assistance and encouragement of other people. This one is certainly no exception. On the very outset of this report, I would like to extend my sincere and heartfelt obligation towards all the personages who have helped me in this endeavour. Without their active guidance, help, cooperation and encouragement, I would have not made headway in the project. I am ineffably indebted to Ms. Charu Shreya (ICICI Bank, HR Head, West zone) for giving me this platform to work at ICICI Bank and constantly guiding me through this journey. I am extremely thankful to Prof Dr. M. N. Parmar (Dean, Faculty of Management Studies Baroda), Ms. Smita Trivedi (Dean of students & Placement Coordinator),Dr. Bhargav Pandya (Assistant Professor), Dr.Sunita Sharma (Associate Professor) and Prof. Dr. Surendra Sundararajan (Professor) for guiding me throughout in this Course and for giving me an opportunity to work as an intern in such a prestigious organisation. I am extremely thankful to Mr. Gaurang Mehta for providing continuous support and guidance relate with this project.

I also acknowledge with a deep sense of reverence, my gratitude towards my parents, family members and friends who always supported me morally.

`6 | P a g e

1. Definition of Bank “An Organization, usually a corporation, chartered by a state or federal government, which does most or all of the following: receive demand deposits and time deposits, honors instruments drawn on them, and pays interest on them; discounts notes, makes loans, and invests in securities; collects Checks, drafts, and notes; certifies depositor’s checks; and issues drafts and cashier’s Checks.” “A bank is financial institution licensed to receive deposits and make loans. Banks may also provide financial services such as wealth management, currency exchange, and safe deposit box. There are several different kinds of bank including retail banks, commercial or corporate bank, and investment banks. In most country, banks are regulated by the national government or central bank”.

2. Structure of the Indian Banking system

`7 | P a g e

3. COMPANY PROFILE 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 specialised 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[8] and South Africa; and representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also established branches in Belgium and Germany.

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 2001–02.[15] 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.[16] 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.[17] In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and branches in some locations due to rumors 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 rumors.[18] 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.

`8 | P a g e

Subsidiaries of ICICI Bank Domestic • • • • • • • • • • •

ICICI Prudential Life Insurance Company Limited ICICI Lombard General Insurance Company Limited ICICI Prudential Asset Management Company Limited ICICI Prudential Trust Limited ICICI Prudential Pension Funds Management Company Limited[37] ICICI Securities Limited ICICI Securities Primary Dealership Limited ICICI Venture Funds Management Company Limited ICICI Home Finance Company Limited ICICI Investment Management Company Limited ICICI Trusteeship Services Limited

International • • • • • • • •

ICICI Bank Canada ICICI Bank USA ICICI Bank UK PLC ICICI Bank Germany ICICI Bank Eurasia Limited Liability Company ICICI Securities Holdings Inc. ICICI Securities Inc. ICICI International Limited.

Board Directors: Board membersMr. Girish Chandra Chaturvedi Non-Executive (part-time) Chairman Mr. Lalit Kumar Chandel Government Nominee Director Mr. S. Madhavan Independent Director Ms. Neelam Dhawan Independent Director Mr. Radhakrishnan Nair Independent Director Ms. Rama Bijapurkar Independent Director

`9 | P a g e

Mr. Hari L. Mundra Independent Director Mr. Uday Chitale Independent Director Mr. Anup Bagchi, Executive Director Mr. Sandeep Bakhshi, Managing Director & CEO Ms. Vishakha Mulye, Executive Director Mr. B. Sriram Independent Director

Board Committee-

Audit Committee

Mr. Uday Chitale, Chairman Mr. S. Madhavan Mr. Radhakrishnan Nair

Corporate Social Responsibility Committee Mr. Radhakrishnan Nair, Chairman Ms. Rama Bijapurkar Mr. Uday Chitale Mr. Anup Bagchi Credit Committee

Mr. Sandeep Bakhshi, Chairman Mr. B. Sriram Mr. Hari L. Mundra Ms. Vishakha Mulye

Information Technology Strategy Committee Mr. B. Sriram, Chairman Ms. Neelam Dhawan Mr. Anup Bagchi Mr. Sandeep Bakhshi

Stakeholders Relationship Committee

Mr. Hari L. Mundra, Chairman Mr. Uday Chitale Mr. Anup Bagchi

`10 | P a g e

Board Governance, Remuneration & Nomination Committee Ms. Neelam Dhawan, Chairperson Mr. Girish Chandra Chaturvedi Ms. Rama Bijapurkar Mr. B. Sriram

Customer Service Committee

Ms. Rama Bijapurkar, Chairperson Mr. Hari L. Mundra Mr. Anup Bagchi Mr. Sandeep Bakhshi Fraud Monitoring Committee Mr. S. Madhavan, Chairman Ms. Neelam Dhawan Mr. Radhakrishnan Nair Mr. Anup Bagchi Mr. Sandeep Bakhshi

Risk Committee

Mr. Girish Chandra Chaturvedi, Chairman Mr. S. Madhavan

Review Committee for identification of wilful defaulters/non cooperative borrowers

Managing Director & CEO, Chairperson Any Two Independent Directors

Business Obective: 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 realisation 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.

Awards – 2020: 1. ICICI Bank has emerged as the most trusted brand among private sector banks, according to a survey by the Economic Times Brand Equity. This is the fifth time in a trot that the Bank has topped ET's list of the most trusted brands among private sector banks. 2. ICICI Bank has been adjudged the 'Best Company to Work For' by Business Today magazine in the Banking, Financial Services and Insurance (BFSI) sector. This is the fourth year in a row that the Bank has received this accolade. The Bank stood at the fourth position in the overall list of top 25 companies. 3. ICICI Bank has been adjudged as the ‘Best Bank in Innovation’ at the recently concluded Business TodayMoney Today Financial Awards 2020. The Bank was recognised as the winner for InstaBIZ, an industry-first initiative which is a comprehensive digital platform curated specifically for MSME and self-employed customers. 4. ICICI Bank was awarded by the National Bank for Agricultural and Rural Development (NABARD) at the Gujarat State Focus Paper 2020-2021 event. The Bank won the award in the 'Best Bank Under SHG Bank Linkage Best Bank Category'. The Bank won the award for its work done to support women beneficiaries through its programme for Self Help Groups and also for facilitating credit linkages for relevant groups. 5. ICICI Bank has won six awards at ‘The Asset Triple A Digital Awards 2020’. This is the highest number of awards among all Banks in India. The Bank was declared winner in the following categories for the India region-‘Digital Bank of the Year’, ‘Best Retail Mobile Banking Experience’, ‘Best Digital Wealth Management Experience’, ‘Best ATM Project’, ‘Best Data Analytics Project’ and ‘Best Digital Upgrade’. 6. ICICI Bank won three awards at the IBA Banking Technology Awards 2020. The Bank was declared winner in two categories namely 'Best Use of Data & Analytics for Business Outcome' and 'Most Innovative Product Using Technology' while it was adjudged runner up in the 'Best Payment Initiatives' category. 7. ICICI Bank won the Bronze Medal in the ‘CSR & Not -for-Profit (beyond metro)’ category at The India PR & Corporate Communications Awards 2019. The Bank won this award for the skilling initiatives undertaken through ICICI Foundation for Inclusive Growth that help the less-privileged youth in rural and urban areas by enabling them to earn sustainable livelihoods.

`11 | P a g e

Product Portfolio Loan Product

• • • • • • • • • • • • • • •

Auto loan Loan against security Loan against property Personal loan 2- wheeler loan Commercial vehicles finance Home loans Retail business banking Tractor loan Working capital finance Construction Equipment finance Health care finance Education loan Gold loan

Cards

• • •

Credit Card Debit Card Prepaid Card

• Product And

•

• • • • •

Savings A/C Current A/C Fixed Deposits Demat A/C Safe Deposit Lockers

Services Trade Services Forex Service Branch Locater RBI Guidelines

`12 | P a g e

Investment & Insurance

• • • • • • •

Payment Services

Forex services

• •

Deposit Product

• • • • • • • • • •

Net Safe Merchant Prepaid Refill Bill Pay Visa Bill Pay InstaPay Direct Pay VisaMoney Transfers E-Monies Electronic Funds Transfer Online Payment Of Direct Tax

Mutual Funds Bonds Knowledge Centre Insurance General And Health Insurance Equity And Derivatives Mudra Gold Bar

Access To Bank

• • • • • • •

Net Banking One View InstaAlert Mobile Banking ATM Phone Banking Email Statements Branch Network

ICICI Bank offers wide variety of Deposit Products to suit your requirements. Coupled with convenience of networked branches/ ATMs and facility of E-channels like Internet and Mobile Banking, ICICI Bank brings banking at your doorstep. Select any of our deposit products and provide your details online and our representative will contact you for Account Opening. SAVING ACCOUNTS: ICICI Bank offers you a power packed Savings Account with a host of convenient features and banking channels to transact through. So now you can bank at your convenience, without the stress of waiting in queues. SENIOR CITIZEN SERVICES: We understand that as you reach the age to retire, you do have certain concerns … whether your hard earned money is safe and secure … whether our investments give you the kind of returns that you need. That's why we have an ideal Banking Service for those who are 60 years and above. The Senior Citizen Services from ICICI Bank has several advantages that are tailored to bring more convenience and enjoyment in your life. YOUNG STARS: It's really important to help children learn the value of finances and money management at an early age. Banking is a serious business, but we make banking a pleasure and at the same time children learn how to manage their personal finances. FIXED DEPOSITS: Safety, Flexibility, Liquidity and Returns!!!! A combination of unbeatable features of the Fixed Deposit from ICICI Bank. RECURRING DEPOSITS: When expenses are high, you may not have adequate funds to make big investments. But simply going ahead without saving for the future is not an option for you. Through ICICI Bank Recurring Deposit you can invest small amounts of money every month that ends up with a large saving on maturity. So you enjoy twin advantages- affordability and higher earnings.

`13 | P a g e

HOME LOAN: The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans offers some unbeatable benefits to its customers - Doorstep Service, Simplified Documentation and Guidance throughout the Process. It's really easy! PERSONAL LOANS: If you’re looking for a personal loan that’s easy to get, your search ends here. ICICI Bank Personal Loans are easy to get and absolutely hassle free. With minimum documentation you can now secure a loan for an amount up to Rs. 15 lakhs CAR LOAN: The NO 1 financier for car loans in the country.Network of more than 1500 channel partners in over 780 locations.Tieups with all leading automobile manufacturers to ensure the best deals.Flexible schemes & quick processing.Hasslefree application process on the click of a mouse.

COMMERCIAL VEHICLE LOANS: Range of services on existing loans & extended products like funding of new vehicles, refinance on used vehicles, balance transfer on high cost loans, top up on existing loans, Extend product, working capital loans & other banking products. TWO WHEELER LOANS: Avail attractive schemes at competitive interest rates from the No 1 Financier for Two Wheeler Loans in the country. Finance facility up to 90% of the On Road Cost of the vehicle, repayable in convenient repayment options and comfortable tenors from 6 months to 36 months. Ride home on your Dream Two Wheeler with our hassle free finance. FARM EQUIPMENT LOANS: Preferred financier for almost all leading tractor manufacturers in the country. Flexible repayment options in tandem with the farmer's seasonal liquidity. Monthly, Quarterly and Half- yearly repayment patterns to choose from. Comfortable repayment tenures from 1 year to 9 year

`14 | P a g e

CREDIT CARDS: ICICI Bank Credit Cards give you the facility of cash, convenience and a range of benefits, anywhere in the world. These benefits range from life time free cards, Insurance benefits, global emergency assistance service, discounts, utility payments, travel discounts and much more. DEBIT CARDS: The ICICI Bank Debit Card is a revolutionary form of cash that allows customers to access their bank account around the clock, around the world. The ICICI...