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customer buyinmg behaviour of icici products
Typology: Study Guides, Projects, Research
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I hereby declare that this Internship/Project Report with the title “SUMMER INTERNSHIP AT ICICI BANK”
Is my original work except for quotations, statements, explanations and summaries (if any), which I have already mentioned their sources. No portion of this Internship/Project Report has been submitted in support of any other degree or qualification of this or any other university or institute of learning. Student’s Signature: Date: Student’s Name: HARI PRAKASH.B Student’s Roll No: 22MB
Banking in India has its origin as early or Vedic period. It is believed that the transitions from many lending to banking must have occurred even before Manu, the great Hindu furriest, who has devoted a section of his work to deposit and advances and laid down rules relating to the rate of interest. During the mogul period, the indigenous banker played a very important role in lending money and financing foreign trade and commerce. During the days of the East India Company it was the turn of agency house to carry on the banking business. The General Bank of India was the first joint stock bank to be established in the year 1786. The other which followed was the Bank of Hindustan and Bengal Bank. The Bank of Hindustan is reported to have continued till 1906. While other two failed in the meantime. In the first half of the 19th century the East India Company established their banks, The bank of Bengal in 1809, the Bank of Bombay in 1840 and the Bank of Bombay in1843. These three banks also known as the Presidency banks were the independent units and functioned well. These three banks were amalgamated in 1920 and new bank, the Imperial Bank of India was established on 27th January,
With the passing of the State Bank of India Act in 1955 the undertaking of the Imperial Bank of India was taken over by the newly constituted SBI. The Reserve Bank of India (RBI) which is the Central bank was established in April, 1935 by passing Reserve bank of India act 1935. The Central office of RBI is in Mumbai and it controls all the other banks in the country. In the wake of Swadeshi Movement, number of banks with the Indian management were established in the country namely, Punjab National Bank Ltd., Bank of India Ltd., Bank of Baroda Ltd., Canara Bank. Ltd. on 19th July 1969, 14 major banks of the country were nationalized and on 15th April 1980, 6 more commercial private sector banks were taken over by the government. The first bank in India, though conservative, was established in 1786. From 1786 till today, the journey of Indian Banking System can be segregated into three distinct phases. They areas mentioned below:
industry, with the objective of creating a development financial institution for providing medium– term and long- term project financing to Indian businesses. A. Ramaswami Mudaliar is elected as the first chairman of ICICI Limited. CHANDA KOCHHAR is currently managing director and CEO of ICICI Bank. Kochhar has also consistently figured in fortune’s list of “Most Powerful Women in Business” since 2005. KV Kamath who has was awarded Padma Bhushan award from the Indian government in 2008 is the NonExecutive Chairman of the Bank. ICICI MILESTONES:
ICICI Bank offers 9 types of savings accounts to its customers to serve their needs. Customers can carry out the basic banking transactions easily and earn interest on their savings as well. ➢ Current Account ICICI Bank Current Accounts are designed to suit small & mid-sized traders, self-employed professionals’ requirements. The bank provides 3 types of current accounts to its customers. ➢ Home Loan ICICI Bank offers home loan at higher eligibility and lower EMIs at attractive interest rates to meet customer’s requirements. ➢ Personal Loan ICICI Bank provides personal loans up to Rs.20 lakh with attractive interest rates and tenure up to 7 years. ➢ Two-Wheeler Loan ICICI Bank offers up to 100% loan of on-road price, special finance scheme on premium bikes and low down-payment schemes to suit the customer’s financial requirement. ➢ Car Loan ICICI Bank offers car loans up to 100% of on-road price of the car. ICICI Bank has link-up with all major automobile manufacturers to provide the best deals for its customers. ➢ Education Loan ICICI Bank provides education loan up to Rs. 50 lakh and Rs.1 crore for educational requirements in India and overseas respectively. ➢ Gold Loan The bank provides gold loan for any value from Rs. 10,000 to Rs. 15 lakh with simple and hassle free documentation process. ➢ Commercial Business Loan ICICI Bank provides different types of business loans to its customers for Commercial Vehicle, Construction Equipment loans etc. ➢ Pradhan Mantri Mudra Yojana ICICI Bank provides collateral free loan up to Rs.10 lakh to micro and small manufacturing and service units.
➢ Fixed Deposit Get attractive interest rates and loan against fixed deposit with ICICI Bank. Customers can avail ICICI Bank Fixed Deposit with a minimum deposit amount of Rs.1000. ➢ Recurring Deposit ICICI Bank offers recurring deposit with tenure ranging from 6 months to 10 years. Customers can get attractive rate of returns and loan against recurring deposit. ➢ Credit Card ICICI Bank offers a variety of credit cards with host of features and benefits that cater to the needs of different types of customers. Customers can use it for shopping, entertainment, dining etc. and earn rewards & cashback. ➢ Debit Card ICICI Bank lets its customers choose from a range of debit cards according to their daily withdrawal needs. These debit cards also offer benefits in diverse segments like entertainment, travel, e- commerce, healthcare and more. ➢ Balance Enquiry ICICI Bank account holders can check their account balance by using missed call facility, SMS Banking, toll free number, ATM, passbook or by visiting the bank branch. ➢ Mobile Banking ICICI Bank mobile banking help customers access their bank account anytime, anywhere. Customers can check their account balance, make fund transfer and much more. ➢ Net Banking Using ICICI Bank internet banking facility, account holders can transfer funds, open a fixed deposit, buy general insurance, pay utility bills and much more. Business Strategy: ICICI BANK:
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. MY JOB IN ICICI In ICICI was made aware of the products and services and was assigned the task to take survey on digital banking ACTIVITIES & TASKS: In ICICI they gave me a task like
Political factors play a significant role in determining the factors that can impact ICICI Bank Limited's long term profitability in a certain country or market. ICICI Bank Limited is operating in Money Center Banks in more than dozen countries and expose itself to different types of political environment and political system risks. The achieve success in such a dynamic Money Center Banks industry across various countries is to diversify the systematic risks of political environment. ICICI Bank Limited can closely analyze the following factors before entering or investing in a certain market-
dominated by players like Uber and Lyft. Car industry is fast moving toward automation led by technology firm such as Google & manufacturing is disrupted by Tesla, which has stated an electronic car revolution. A firm should not only do technological analysis of the industry but also the speed at which technology disrupts that industry. Slow speed will give more time while fast speed of technological disruption may give a firm little time to cope and be profitable. Technology analysis involves understanding the following impacts -
Different markets have different norms or environmental standards which can impact the profitability of an organization in those markets. Even within a country often states can have different environmental laws and liability laws. For example, in United States – Texas and Florida have different liability clauses in case of mishaps or environmental disaster. Similarly, a lot of European countries give healthy tax breaks to companies that operate in the renewable sector. Before entering new markets or starting a new business in existing market the firm should carefully evaluate the environmental standards that are required to operate in those markets. Some of the environmental factors that a firm should consider beforehand are –
According to the Oxford Advanced Learners Dictionary of current English the meaning of research is a “Careful Study or Investigation especially in order to discover mew facts or information” Research is defined as the movement from the known to the unknown. It is an effort to discover something. According to Clifford Woody “Research comprises defining and redefining problems, formulating hypothesis or suggested solution, collecting organizing and evaluating data, making deduction & research conclusions and at last carefully testing the concluding to determine whether they fit the formulation hypothesis.
The adoption of a proper methodology is an essential and important step in conducting survey (or) any research. In this study the researcher has adopted a descriptive research method. Descriptive research studies are those studies which are concerned with describing the characteristic of a particular individual or of a group.
Descriptive Research design includes surveys and fact findings, enquires of different of state of affairs, as it exists at present. In social business research we quiet often use the term Ex post facto research for descriptive purpose. The main characteristics of this method is that the researcher has no control over the variable; he can only report what has happened or what is happening. Most Ex post facto research projects are useful for descriptive studies in which the researcher seeks to measure such items for example, frequency of shopping and consumer preference on products or service
The data collected for the study includes both primary and secondary data in order to attain the objectives of the study.
A Convenience Sample is a sample where the patients are selected, in part or in whole, at the convenience of the researcher. The researcher makes no attempt, or only a limited attempt, to ensure that this sample is an accurate representation of some larger group or population. The classic example of a convenience sample is standing at a shopping mall and selecting shoppers as they walk by to fill out a survey.
The research design is of descriptive design. Further the sampling method is convenience sampling. Hence no statistically valid conclusions about the population are being attempted. A sample size of 120 was selected from friends and relatives.
