Jayesh Gupta PDF 1
Jayesh Gupta PDF 1
Jayesh Gupta PDF 1
1.1 INTRODUCTION
ICICI Bank is a private sector bank engaged in retail banking, insurance etc. ICICI Bank,
Naya Palli Branch is a newly founded branch. Universal banking refers to the banking,which
provides all the financial products and services to its customers.
Corporate Social Responsibility (CSR) has been a long-standing commitment at ICICIBank
and forms an integral part of our activities. The Bank’s contribution to socialsector
development includes several pioneering interventions, and is implementedthrough the
involvement of stakeholders within the Bank and the broader community.The Bank
established the ICICI Foundation for Inclusive Growth (ICICI Foundation)in 2008 with a
view to significantly expand the activities in the area of CSR. Over thelast few years ICICI
Foundation has developed significant projects in specific areas,and has built capabilities for
direct project implementation as opposed to extendingfinancial support to other
organizations.
The objective of the Bank is to pro-actively support meaningful socio-economicdevelopment
in India and enable a larger number of people to participate in and benefit from India’s
economic progress. This is based on the belief that growth anddevelopment are effective only
when they result in wider access to opportunities and benefit a broader section of society. The
aim is to identify critical areas of development that require investments and intervention, and
which can help to realizeIndia’s potential for growth and prosperity.
The Corporate Social Responsibility Policy (CSR Policy) of the Bank sets out theframework
guiding the Banks’ activities. The Policy also sets out the rules that needto be adhered to
while taking up and implementing CSR activities.
ARIVAL – 2019
ICICI Bank won a total of four awards in the ‘Large Banks’ group at thisyear’s IBA
Banking Technology Awards. The Bank was declared winner inthe following
categories: ‘Best IT Risk Management and Cyber SecurityInitiatives’ and ‘Best
Financial Inclusion Initiatives’. ICICI Bank was declaredrunner-up in the following
categories: ‘Best Technology Bank of the Year’and ‘The Most Customer-Centric
Bank using Technology’.
ICICI Bank was recognized as the ‘Best Retail Bank – India’ at the RetailBanker
International Asia Trailblazer Awards 2019. The Bank also won anaward in the ‘Best
Mortgage Offering’ category at these awards. The awardsare organized by Retail
Banker International, an online publication that provides news on banking and finance
from across the globe.
ICICI Bank was awarded for its ‘I Travel’ project at Innovate 2019, aconference and
award ceremony organized by the Banking Frontiers magazineto recognize
innovations in the Indian Banking, Financial Services andInsurance (BFSI) industry.
ICICI Bank won the Silver Award in the ‘Home Loan Provider of the Year 2018’
category at the 17th edition of the Outlook Money Awards. The awardsare organized
by Outlook Money, a magazine that features news on personalfinance, mutual funds,
investments, insurance, taxation and other financialaspects.
ICICI Bank was recognized as the ‘Best Foreign Exchange Provider’ in Indiaas part
of ‘The World’s Best Foreign Exchange Providers 2019’ list released by Global
Finance magazine.
1.3INTRODUCTION OF ICICI BANK
OVER VIEW ON BANKING INDUSTRY
The Indian Banking history can be broadly categorized into nationalized private banksand
specialized banking institutions. The Reserve Bank of India acts as a centralizedmonitoring
system. Since the nationalization of banks in 1969, the nationalized bankshave acquired a
place of prominence and has since, then seen tremendous progress. Theneed to become
highly customer focused has forced the slow moving public sector banksto adopt a fast track
approach. The liberalized policy of Government of India permittedentry to private sector
banks in the banking industry. The major differentiating parameterthat distinguishes these
banks is the level of service that is offered to the customer. The popularity of these banks can
be gauged by the fact that in a short span of time, these banks have gained considerable
customer confidence and consequently have shownimpressive growth rates. With efficiency
being the major focus, these banks haveleveraged on their strength and competencies viz.
management, operation efficiency andflexibility, superior product positioning a higher
employee productivity skill.
The private banks with their focused business and services portfolio have a reputation of
being niche player in the industry. A well chalked out integrated strategy has allowedthese
banks to operate 70% of their business to urban areas, this statutory requirement hastranslated
into lower deposit mobilization costs and higher margins to public sector banks. Banks are
increasingly finding that most viable way of differentiating themselveswill be to successfully
manage customer relationship and enhance the overall customerexperience. In future the
market space will see banks and non-banks striving to seekopportunities to profit, in the wake
of product customization.
try their hands on it? Here comes the concept of universal banking, its emergence, meritsand
related issues. The present paper focuses on understanding the concept of universal banking
in India and attempts to explain the regulatory role, regulatory requirements, keyduration and
maturity distinction and lastly the optimal transition path.
Universal Banking, means the financial entities – the commercial banks,
FinancialInstitutions, NBFCs, - undertake multiple financial activities under one roof,
therebycreating a financial supermarket. The entities focus on leveraging their large
branchnetwork and offer wide range of services under single brand name.
Universal Banking generally takes three forms:
The strengths of individual banks in enlarging the scope of the activities in the
varioussegments of financial services industry.
RETAIL BANKING
Retail Banking Group has emerged as the fastest growing segment within ICICI BankLtd.
Within RBG, retail channel and liability group mobilize the much-needed resourcesat highly
competitive rates through deposits and bonds and retail assets and productsgroup deploys the
available resources through various channels like Home Loans,Personnel Loans, Consumer
Durable Loans, Commercial Vehicles Loan etc. in the retail assets. Across the world retail
banking has been the high volume-low value business proposition. Enormous amount of
resources are required to acquire and service customerin terms of infrastructure and
operation. Given the current stage of evolution of the Indianmarket, we have adopted an
organization model that continuous to focus on product andon achieving attention and
dedicated services, and at the same facilitate the widening anddeepening of customer
relationships. Small enterprises and emerging corporate segmenthas strong synergies with the
retail business in terms of customer profile and servicing isdone through technology platform
and retail branches.
PLEDGE
Securities held in Demat form can be pledged by the client to avail loan/credit facility.Pledge
of securities in NSDL requires that both the borrower and lender should have aDemat account
with any of the DP's with NSDL. The facility for Inter Depository pledgeis not available.
FREEZING / DEFREEZING
The client has an option to freeze his accounts in case he does not intend to do anytransaction
in the near future. This helps in curbing unauthorized use of Demat accountand prevention of
frauds. Defreezing of the account is required to enable the accountagain for transaction. The
request for freezing and defreezing must be submitted in personal prescribed form.
TRANSMISSION
It refers to transfer of securities from an account to the other as a result of the death of
thesole/ any of the holders of the former account. Here the transfer may be done to:Surviving
Holders Nominee where nomination has been made Legal heir wherenomination has not been
made Common Requirements and effect.
MOBILE BANKING
With mobile banking one has an option to remain updated while one is on the move,without
even calling or logging on to internet.
ACCOUNT SECURITY
Emphasis needs to be given on the fact that the securities that one have in ones Demataccount
are similar to the money that one holds in bank account. One needs to take all precautions for
ones Demat transaction as one exercise for bank account. The TFD booklet should be kept
safely just like a cheque book. The details should not be shared ofone's Demat account
number and signature with anyone. It should be accepted only if ithas pre-printed serial
number as well as one's Demat account number pre-stamped oneach slip. It should not be
signed unless completely filled. If possible one should makeuse of web facility to check ones
Transactions as frequently as possible. "Account freeze"instruction should be given to ICICI
bank if one does not intend to operate ones accountfor a long time.
Education represents a critical area of action to realize India’s growth potential as alsomake it
inclusive, by enabling children from all sections of society to have access toquality basic
education that equips them for taking up higher education or job-oriented skill training. At
the same time, India’s institutions of higher learning alsorequire investment in capacity
building to support India’s growing and evolving needsand become global centers of
excellence.
The Bank, both directly and through ICICI Foundation, will continue to work withvarious
bodies including state governments and other not-for-profit organizations toimprove the
quality of education in government and municipal schools, which accountfor the vast
majority of school-going children in the country. ICICI Bank willcontinue to work with
institutes of higher education for focused capacity-building inspecified disciplines,
particularly finance & management.
HELTH CARE
The healthcare challenge in India spans a number of dimensions, including access
toaffordable healthcare for the poor; awareness of health issues & available facilities/ benefits
among the less privileged segments of society and specific vulnerable sections of the
population; and child malnutrition, which impairs the capacity of achild to lead a healthy and
productive life. Addressing this challenge is essential toachieve the objective of inclusive
growth. The Bank and ICICI Foundation willcontinue to focus on developing innovative
models with the potential to scale up and bring about improvements in the delivery of
healthcare to the marginalized segmentsof society and other appropriate measures to promote
health care.
Enabling India’s youth to gain skills that can provide employment is key to realizingthe
potential of India’s demographic dividend and driving inclusive growth.Improving
employability of the youth from lower-income sections of society is hencean important focus
area.
The ICICI Academy for Skills has been set up across the country to provide job-oriented skill
training to youth. Several centers have been set up across the country. Inthis initiative, ICICI
Foundation is also leveraging the skills and training capabilitiesof large corporate in
developing training modules in their respective domains. ICICIFoundation is also liaising
with corporate and businesses to get the trained youthemployed, through a job portal. ICICI
Bank will continue to develop the ICICI RuralSelf Employment Training Institutes.
FINANCIAL INCLUSIOM
The Bank strongly believes that to improve the overall economic condition of thelow-income
population and to empower them with means to overcome adversities or inequalities, access
to financial services is an important factor.
The Bank would continue to focus on expanding its reach and its initiatives in thisarea
include using various channels like branches and business correspondents, andleveraging
technology, to make banking services accessible to low-income groups andthe rural
population, including the urban poor and migrant workers.
COMMERCIAL BANKS
are regulated and managed under the Banking Regulation Act, 1949.These are profit making
banks based on their business model. Granting loans to the government,general public, and
corporate and accepting deposits counts as the primary function. There arefour types of
commercial banks:
1. Public Sector Banks.
2. Private Sector Banks.
3. Foreign Banks.
4. Regional Rural Banks.
1. To examine, if banks customers are aware of the services offered by banks onmobile
banking.
2. To find-out whether the security & privacy issues of mobile banking is becoming a
barrier in extending their services to many customers.
3. To determine whether the customers are using mobile banking services in their day-
to-day chores.
Availability of facilities
Standardization
2.3 HYPOTHESIS
With an objective to know about the prospect and issues of mobile banking in india ,
reviews of literature have been done .
However , the related published literature on the area of study is quite meagre.
HYPOTHESIS 1 :
HYPOTHESIS 2 :
NULL HYPOTHESIS (H0) : Banking customers are not using mobile banking
in their routine life .
HYPOTHESIS 4 :
NULL HYPOTHESIS (H0) : There is negative prospect for mobile banking in india.
METHODOLOGY :
The study was conducted to identify the issues and prospects of mobile banking in
India.
Necessary data was collected from different ages of people and analyzed in terms of
theobjectives of the study.
There are several ways to collect this basic information. The data for this study was
collected by the survey method. Survey is a research technique in which information
is gathered from asample of people by use of a questionnaire or interview. It is a
method of data collection based on communication with a representative sample of
individuals. The researcher developed a questionnaire and circulated into among her
friends & family to provide detailsabout their mobile banking services usage,
knowledge & issues faced. The survey wasdesigned in a manner to gain a better
understanding of the perspective of customers at bothfinancial and personal level.
This research is based on present study and the findings aresupported by the responses
and insights from the sample surveyed.
TYPES OF RESPONDENTS :
This research includes all types of people mostly selected different age, sex and
occupation people.
RESEARCH DESIGN :
Mobile banking is a new technology for people in India. Bank customers normally
usetraditional banking system as they trust this system and they are used to it. People
are afraidof using mobile banking because they cannot feel it trust worthy.
In our country, most of the customers are influenced through advertisements. In recent
times,customers have become more conscious about their savings. Different banks
advertise aboutmobile banking services to give information about it to all people in
the country. Thisresearch study has researched the customer perception on mobile
banking based on the abovedimensions. The respondents were approached through
questionnaire that was sent to themon their social media handles. It was felt that the
survey will give the correct result. Theresearch is descriptive in nature, using primary
data.
SAMPLE SIZE
SOURCES OF DATA :
During data collection, both primary and secondary data were used for its validity
andreliability as attached in annexures.
PRIMARY DATA :
This study used primary data that was obtained directly from the field. Data was
collected fromthe sample population through questionnaire as attached in annexure.
The open and close-ended questions were used in questionnaire for bank customers.
SECONDARY DATA :
Secondary data were used for providing the theoretical background to the research
problem.The secondary data sources were-journal, books, internet etc.
There are 15 questions in this questionnaire. The respondents were asked the
questions toknow their knowledge and perception about mobile banking like “Have
you ever heard aboutmobile banking?”, “Do you think you should use it?”, “Do you
think mobile banking servicesare trust worthy?” etc.
DATA COLLECTION AND ACCURACY DATA :
Generally, most of the people are not interested to give time to answer a
questionnaire.Therefore, it was very difficult to collect actual data because the
information of therespondents was collected by approaching them to answer on social
media and not face toface. To overcome this problem, all possible efforts were made
by the researcher herself toensure the collection of reasonably accurate information
from the respondents. Therefore, ithas not been possible to apply any other method of
investigation. Survey method has theadvantage that it facilitates quick investigation
and involves lower cost. In order to collectrelevant information before taking data, the
whole academic purpose of the study was clearlyexplained and made clear to the
respondents. Data collected was checked and verified for accuracy and consistency.
The researcher had to face the following problems in collecting data from the
respondents.
Usually, most of the respondents have not enough idea about mobile banking.
Therefore, itwas very difficult to collect actual data. Because the information of the
respondents wassupplied from their idea.
Most of the respondents do not fully use mobile banking which caused another
problem todata collection to the researcher.
Sometimes respondent could not answer to questions accurately and to the point.
In addition, it was difficult to get required information. Some respondents treated their
information as confidential and therefore, it was difficult to have access to them.
However,the respondents were assured that the required data were just merely for the
academicresearch work and not otherwise.
Some respondents choose to provide wrong information during the primary data
collection.They took this questionnaire just for fun. However, to solve this problem,
respondents wereinformed about the objectives of the study and that motivated them
to provide requiredinformation, which convinced them to provide valid information.
The respondents were usually busy with their work. Therefore, the researcher had to
waitlonger than usual to get the data.
Despite of all the challenges, the quality of the data is not compromised and it is noted
thatthe mobile banking has a bright future.
There is a wider scope for the researchers to analyse other digitalized services also
like plastic money, online transactions and mobile commerce facility provided by the
banks.