Comparative analysis of saving account of HDFC & ICICI bank

DECLARATION

Miti Angira declare that the project report entitled “ comparison Between Saving I Miti Accounts of HDFC Bank & ICICI Bank” a Research work at HDFC Bank, Kota.

The information has been collected from genuine and authentic sources and work done by me during the academic year 2009-2011. This is being submitted in the partial fulfillment of the requirement for the award of degree of the Master of Business Business Administrat Administration ion (Banasthali (Banasthali University) University). The The matt matter er em embo bodi died ed in this this

report has not been submitted for the award of any other degree or diploma.

Place: Date:

Miti Angira

Banasthali vidhyapith

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ACKNOWLEDGEMENT I wish to express my heartfelt thanks to Mr. Pradip Singh Bhadoriya (Sales manager) of HDFC Bank, Kota. Their cheerful induction of my first visit to company’s office helped me to know about saving Account as a product and the activity I had to perform. I want to give my genial and sincere thanks to Mr. M.K. Joshi (Director, Banasthali University, Jaipur). I would like to sincerely thank Mrs. Mrs. Vandana Joshi ,(Head of Management Dept. , , Banasthali University, Jaipur) for her

valuable suggestion and guidance and making it possible for us to accomplish the project. I am also thankful to all the other persons of Finance Department. My heartfelt gratitude goes to my family members and friends who always inspired and motivate me in carrying out this study. Above all, I bow my head before Almighty “GOD” without whose blessing my present project would not have existed and thanks for giving me patience and strength to overcome the difficulties, which crossed my way in the accomplishment of this endeavor.


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PREFACE M.B.A curriculum is designed in such a way that student can grasp maximum knowle knowledge dge and can get practi practical cal exposure exposure to the corpora corporate te world world in minimu minimum m pos possi sibl blee time time.. Busi Busine ness ss scho school olss of toda todayy real realize ize the the impo import rtan ance ce of prac practi tica cal l knowledge over the theoretical base.

The research report is necessary for the partial fulfillment of M.B.A. curriculum and it provides an opportunity to the researcher in understanding the industry with special emphasis on the development of skills in analyzing and interpreting practical problems through the application of management theories and techniques. It is a new platform of learning through practical experience, which incorporates survey and comparative analysis. It gives the learner an opportunity to relate the theory with the practice, to test the validity and applicability of his classroom learning against real life business situations.


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TABLE OF CONTENTS CONTENT

PAGE NO.

1. ACKNOWLWDGEMENT …………………………………….... ……………………………………....

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2. INTRODUCTION 2. INTRODUCTION 2.1 HISTORY OF INDIAN BANKING INDUSTRY …… ……

2.2 PUBLIC SECTOR BANKS …………………………………. …………………………………. 2.3 PRIVATE SECTOR BANKS ……………………………… ……………………………… 2.4 FINANCIAL MARKETS ……………………….. ………………………..

5 6 8 9

3. PROFILE OF BANK (HDFC BANK) 3.1 ABOUT HDFC BANK …………………………………….. ……………………………………..

3.2 MANAGEMENT ……………………………………………………. ……………………………………………………. 3.3 TECHNOLOGY …………………………………….. …………………………………….. 3.4 AWARDS AND RECOGNITIONS …………………… …………………… 3.5 PRODUCT SCOPE ………………………………………. ………………………………………. 3.6 ACCOUNTS AND DEPOSITS ……………………. …………………….

14 16 17 18 20

4. PROFILE OF BANK (ICICI BANK) 4.1 ABOUT ICICI BANK …………………………………………. ………………………………………….

4.2 AWARDS AND RECOGNITIONS ………………………….. …………………………..

………………. 4.3 TYPES OF SAVING ACCOUNTS ………………. 5. RESEARCH METHODOLOGY……………………… METHODOLOGY……………………… . 6. LIMITATION………………………………………………………

35 36 38

45 46

7. DATA COLLACTION …………………………………. ………………………………….

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8. ANALYSIS AND INTERPRETATION ………………. ……………….

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9. FINDINGS ……………………………………………. …………………………………………….

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10. RECOMMANDATIONS ……………………………… ………………………………

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11. CONCLUSION ……………………………………… ………………………………………

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12. BIBILIOGRAPHY …………………………………………………. ………………………………………………….


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INTRODUCTION Banking is the backbone of a modern economy. Health of banking industry is one of the most important pre-conditions for sustained economic progress of any country. The world of banking has assumed a new dimension at the dawn of the 21st century with the advent of tech banking, thereby lending the industry a stamp of universality. In general, banking may be classified as retail and corporate banking. Retail banking, which is designed to meet the requirements of individual customers and encourage their savings, includes payment of utility bills, consumer loans, credit cards, checking account balances, ATMs, transferring funds between accounts and the like. Corporate banking, on the other hand, caters to the needs of corporate customers like bills discounting, opening letters of credit and managing cash. The Indian banking scene has changed drastically with the private sector making inroads in an area hitherto dominated by large public sector banks. Growing disinvestment is likely likely to impact the banking industry industry as well. There is every possibilit possibility y of privatization privatization of public sector banks, leading to greater operational autonomy. Thee deve Th develo lopm pmen entt of the the Indi Indian an bank bankin ing g sect sector or has been been acco accomp mpan anie ied d by the the introduction of new norms such as Income Recognition and Capital Adequacy, by the government. The latter implies that banks can lend on the basis of their respective capital base. These norms have caused banks to construct equity on their own, before going in for debt. Disintermediation is a real threat for banks. Of late, banks are adopting the EVA (Economic Value Added) concept wherein revenues are viewed in the context of the risk associated with them. The New World order has ensured "Survival of the Fittest". New services are the order of the day, in order to stay ahead in the rat race. Banks are now foraying into net banking, securi securitie ties, s, consum consumer er financ finance, e, housing housing finance finance,, treasu treasury ry market market,, mercha merchant nt bankin banking g and insurance.


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History of Indian Banking Industry A banking company in India has been defined in the Banking companies Act, 1949 as one “which transacts the business of banking which means the accepting, for the purpose of lendin lending g or investme investment, nt, of deposit depositss of money from the public, public, repaya repayable ble on demand demand or otherwise and withdrawals by cheque, draft, order or otherwise”

Banking Banking is an impor importan tantt elemen elementt of econom economy’s y’s Indian Indian bankin banking g syste system m overt overt past past few decades decades,, it has played played very very effect effective ive role role in mobili mobilizati zation on of saving savingss of the econom economy, y, spreading in banking habit to the furthest corner of the country and large entrepreneurial base. Indian banks have multiplied their activities in volume, variety and geographical base to meet the growing needs of the society. The old methods and techniques replaced by new techniques of viability need based formation of finance schemes and marketing. Instead of working for profits, they are required to participate in nation building activities and help in bringing socio economic change.

Banks are new centre of trade, commerce and business in a country. Banking plays a very important role in the economic development of all nation of the world. Industrial revolution that that took took plac placee in the the econo economi micc devel develop opme ment nt of all all nati nation onss of the the worl world. d. Indu Indust stri rial al revolution that took place in European countries in 18th and 19th centuries would not have taken place without the evolution of good banking system. Banking is life blood of modern commerce.

It is very important to study the concept of services as banks are categorized into service sector: service as deeds, processes and performances. The service sector of an economy is going through a period of almost revolutionary proportion in which established ways of doing business continue to be shunted aside.

The banking system in India constitutes the core of the financial sector. It plays a significant role in the process of economic growth of the country. Its efficiency efficiency and development development thus Banasthali vidhyapith

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are vital for the country’s economic progress. Commercial banks are the hub of the Indian financial system. Indian commercial banks are organized as the joint stock banks, both in the public sector and private sector.

Public sector banks Banking is one of the most important elements of economy. Indian banking system over past few decades has played a very effective role in mobilization of savings of the economy spreading in banking habit to the furthest corner of the country and enlarged entrepreneurial base. base. Indian Indian banks banks have multip multiplie lied d their their activi activitie tiess in volume volume variet variety y and geograp geographic hical al coverage to meet the growing needs of society, the old methods and techniques of viability growth based formation of finance schemes of marketing. Instead of working for profits, they are required to participate in the nation building activities and help in bringing socioeconomic change.

Banking transactions carried on by any individual or firm engaged in providing financial services to consumers, businesses or government enterprises. In the broad sense, a bank is a financial intermediary that performs one or more of the following functions: safeguards and transfer of funds, guarantees credit worthiness and exchange money. Such institutions as commercial banks, central banks, organizational banks, trust companies, finance companies, life insurers and investment bankers provide these services. A normal end mean common definition of a bank is a financial intermediary that accepts, transfer and most important creates deposits. This includes such deposits institutes as central banks, commercial banks, savings and loan associates and mutual savings bank.

Banks Banks are most most freque frequentl ntly y organi organized zed in corpor corporate ate form form and owned owned by either either privat privatee individual, government interests. Although non corporate bank that single proprietorship and partnership are find in other countries since 1863 all federally chartered bank in the US must be corporations. Only a few states permit formation of non corporate bank. All countries subject their banks, however owned to government regulations and supervision, normally implemented by central banks authorities. Bank in India should develop appropriate strategy Banasthali vidhyapith

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and ensure proper marketing strategy and mistaking into account the economic, cultural, legal and political environment. As toady in the changes word the needs are changed as regards to bank as foreign players.

Marketing concept should be followed where we talk about 4 Ps marketing tools in regards to banks; we should include to more 2 Ps more, People and Procedures as well. An introduction of ATM 24 hours online banking transactions etc their goal should not be of profit it should be “growth and development with profit”

The service sector of the economy is going through a period of almost revolutionary proportions in which established ways of doing business continue to be shunted aside. It has been said that the only person in the world who appreciates changes is wet baby.

The service sector can be best characteriz characterized ed by its diversity diversity.. Service Service organizatio organization n range in size from huge International Corporation in such fields as airlines, banking, insurance, telecommunications, and hotel chain and freight transportation to a vast array of locally owned owned and operate operated d small small busine business ss and numero numerous us busine business ss to busine business ss servic services. es. As currently defined by the government statistics, services account for the two third to three quarters of the gross national product. Not only in US but also in many other highly develop industrial nations.

In the banking and financial services business: this area comprises many different types of businesses, commercial and retail, with a common denomination, of being in business to help customer to make or manage money. A high level of trust is implicit and is even more critical in the wake of the savings and loan scandals of the 1980s. The retail banking industry has found its historic image of aloofness, a management

The public sector banks largely dominate the Indian banking industry. These banks till early 90s were involved in the traditional banking business of deposits and credit lending. They performed a supporting role in the overall growth of economy. While most of these banks Banasthali vidhyapith

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used to focus on growth of balance-sheet profitability was not a significant competition. In most of the banks government has holding of 100% whereas in the few banks the state has fallen because of public issue in the post liberalization period. Some of other leading banks in the segment also proposed to come out with an equity issue to raise further capital.

The public sector banks have a strong distribution network all over the country. But the stre streng ngth th of earl earlie ierr peri period odss has has now now comi coming ng out with VRS VRS to brin bring g down down numb number er of employees and improve their efficiency ratio. The public sector banks still control a major share in banking operation of o f the country.

Private sector Banks The banking regulation act was amended in 1993 permitting the entry of new private sector banks. The act also specified certain criteria for establishing new private sector banks. The criteria are as follows-

1. the banks banks should should have have a minimum minimum net worth worth of Rs. 1 billion billion 2. The promoter promoterss holding holding should should be minimum minimum 25% of paid paid up capital capital..

The last decade witnessed the maturity of India’s financial markets. Since 1991, every governments of India took major steps in reforming the financial sector of the country. The important achievements in the following fields are achieved in following heads:

Financial Markets In the last decade, private sector banks / institutions played an important role. They grew rapidly in commercial banking and asset management business. With the openings in the insurance sector for these institutions, they started making debt in the market.


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Regulators The Finance Ministry continuously formulated major policies in the field of financial sector of the country. The Government accepted the important role of regulators. The Reserve Bank of India (RBI) has become more independent. Opinions are also that there should be a super- regulator for the financial services sector instead of multiplicity of regulators.

The banking system Almost Almost 80% of the business business is still still controlled controlled by the Public Public Sector Banks (PSBs). PSB are still dominating the commercial banking system. Shares of the leading PSBs are already listed on the stock exchanges.

The RBI has given licenses to new private sector banks as part of the liberalization process. The RBI has also been granting licenses to industrial houses. Many banks are successfully runnin running g in the consum consumer er segmen segments, ts, indust industri rial al finance finance,, retail retail trade, trade, small small busine business ss and agriculture finances.

Overall approach to reforms The last ten years have seen major improvements in the working of various financial market partic participa ipants nts.. The governm government ent and the regula regulator tory y author authoriti ities es follow followed ed the step step by step step approach, not a bang one. The entry of foreign banks has assisted in the introduction of international practices and systems. On the whole, the cumulative effect of the developments since 1991 has been quite encouraging.

Deregulation of Banking System In order to reach the stipulated capital adequacy norms, substantial capital were provided by the Government and RBI.


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Government pre-emption of banks’ resources through statutory liquidity ratio (SLR) and cash reserve ratio (CRR) brought down in steps. Interest rates on the deposits and lending sides almost entirely were deregulated.

New private sector banks allowed promoting and encouraging competition. PSBs were encouraged to approach the public for raising resources. Recovery of debts due to banks and the Financial Institutions Act 1993 were passed, and special recovery tribunals set up to facilitate quicker recovery of loan arrears.

Consolidation imperative Another aspect of the financial sector reforms in India is the consolidation of existing institutions which is especially applicable to the commercial banks. In India the banks are huge quantity. First, there is no need for 27 PSBs with branches all over India. A number of them can be merged. The merger of Punjab National Bank and New Bank of India was difficult one, but the situation is different now. No one expected so many employees to take voluntary retirement from PSBs, which at one time were much sought after jobs. Private sector banks will be self consolidated while co-operative co -operative and rural banks will encouraged for consolidation, and anyway play only a niche role

Global Competencies The progress and growth of Indian banking sector is in the line with the twin objective of financial stability and growth. Banking in India has increased its size by capitalizing on all the business opportunity available. The capital adequacy ratio of Indian banks has increased and is now in a much better position in relation to the other emerging market economies. The ratio is well in line with the proposed new Basel norms. Several banks ban ks raised capital and some more banks are on the way.

Guidelines and Governance Meeting capital adequacy norms in the recent times gained importance with the deadline for the implementation of Basel II Accord approaching closer. The average Capital Adequacy Banasthali vidhyapith

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Ratio (CAR) of Indian banks stood at 12.8% at March 31, 2005, much above the prescribed norms. In order to enhance capital adequacy ratio, seven banks including ICICI bank and Punjab National bank, have raised capital in primary markets to the tune of Rs.12, 000 crores during the year 2005. it has been decided that banks which have maintained capital at least 9% of the risk weighted assets for both credit risk and market risks of both ‘Held For Trade’(HFT) and ‘Available For Sale’(AFT) categories as on March 31, 2006, would be permitted to treat the entire balance in the Investment Fluctuation Reserve as tier-I capital. This Th is will will help help banks banks to enhan enhance ce thei theirr CAR. CAR. Rese Reserv rvee bank bank Of Indi Indiaa (RBI (RBI)) has has give given n guidelines to have minimum net worth of Rs. 300 crores for private banks.

New guidelines have been introduced in the Indian banking system to measure up to the international banking practices. The Indian Bankers Association (IBA) has come up with ‘Fai ‘Fairr Pract Practic ices es Code’ Code’ to impr improve ove corp corpor orat atee gover governa nance nce.. Banks Banks in Indi Indiaa shou should ld now now explicitly state their governance philosophy in their Annual Reports as part of ‘Notes on Accounts’ Accounts’ to their balance balance sheets. sheets. Risk based supervision supervision was introduced introduced in some selected selected banks. Guidelines have been issued to banks not to outsource core-banking functions.

Emphasis has been placed on the role of bank boards. In a move to give freedom in the functioning functioning of private private banks, RBI has withdrawn withdrawn its nominee directors directors from almost all the private sector banks. Amendments have also been proposed to remove the provisions of having nominated officers of RBI in public pub lic sector banks in order to bring their functioning at par with private banks.

Government’s shareholding in several Public Sector Banks (PSBs) reached close to 51%. To continue continue government’s government’s stipulated stipulated minimum minimum shareholdin shareholding g in PSBs, the finance finance ministry ministry asked the RBI to come up with the guidelines on ‘hybrid’ instruments, which can be treated as capital.


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Performance The year 2005 has been good for the Indian banking. There was robust growth in credit flow during the year. Credit deposit ratio increased by more than 10% and substantial part of the bank’s commercial credit went to large borrowers at sub-PLR rates. Government wants to further push up the loan to GDP ratio from 43% to 50%. The most significant jump in credit was to real estate sector. Credit to agriculture has been in line with the government’s objective of doubling its credit in the coming five years. The banking industry has managed to improve its operating profit ratio by reducing its operati operating ng costs/ costs/sta staff ff expens expenses. es. The asset asset quality quality in Indian Indian banking banking sector sector has shown shown considerable improvement. The gross Non Performing Assets (NPAs) to advances ratio for the sector declined to 5% in FY05 from 16% in FY97

The Indian banking has improved efficiency in its operations. Cost to income has come down. Interest income of the entire en tire banking sector has increased. The returns on o n assets of the foreign banks have been highest, followed by the private sector banks. Revenue sources of banks been diversified. They have entered into the business of selling third-party products to increase their income. Banks are trying to increase fee-based income as interest income continues to be under pressure and profits from tradi8ng keep declining. Investments in Statutory Statutory Liquidity Liquidity Ratio (SLR) securities securities of banks have declined; however, the ratio ratio is in excess of the statutory limit. RBI reduced the reverse repo rate during the year to direct the funds to the needed areas. Most of the investments held by private sector banks were in the maturity bucket of a less than a year while the public sector banks’ investments were ranging from one-year to five-year maturity buckets.

At the same time, technological development in the sector helped the banks in diversifying their business activities to offer different services to customers. Introduction of core banking solutions has enabled the banks to segregate the credit sourcing (front office) and appraisal (back office) functions. Many banks will aggressively position themselves on an end-to-end solution. The total Real Time Gross Settlement (RTGS) transactions increased from 1, 91,792 in March 2005 to 3, 84,176 in September 2005. Banasthali vidhyapith

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Merger and Acquisitions Acquisitions The banking industry saw some consolidation during the year. There was the reverse merger of IDBI with IDBI Bank, and Centurion Bank of Punjab was created through the merger of Bank of Punjab with centurion Bank and again Centurion bank of Punjab merger with HDFC Bank.

SBI has a network of 60 overseas offices spread over 29 countries. The bank has acquired 76% stake worth $6 million in closely held PT Bank IndoMonex, securing a foothold in Indonesia, and a similar stake in Kenya’s Giro Commercial Bank ltd. In February 2005, it acquired a 51% of the Mauritius based Indian Ocean International Bank Ltd. And it also gained permission to set up branches in Saudi Arabia. It has also merged its subsidiaryIndoNigerian Bank-with a local bank, Nal Bank. The SBI has also stated to start its retail business in Shanghai later this year.

ICICI Bank in a span of just four years has emerged as retail banking behemoth. The bank in order to increase its presence overseas has acquired a Russian bank, InvestitsionnoKredimy Bank, also aims to take advantage of increased presence of the Indian corporate in Russia and South Africa. The bank is also planning to make Bahrain its hub especially for trading in commodities. It has emerged as the largest seller of bad loans to the Asset Reconstruction Company of India.

Punjab National Bank will shortly be converting its representative offices in London into a subsidiary unit. PNB is in the process of initiating internal discussions to plan and identify acquisition of banks overseas. PNB has targeted to disburse loans to the tune of Rs. 8,000 crores in retail segment by the end of this fiscal as against the total retail loan disbursement of Rs. 6,500 crores during the last fiscal.


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PROFILE OF BANK

About - HDFC Bank Limited, India The Housing Development Development Finance Corporation Corporation Limited Limited (HDFC) was amongst the first first to receive an 'in-principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

Promoter HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain a market leader in mortgages. mortgages. Its outstanding outstanding loan portfolio portfolio covers well over a million million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also also has a large large corpor corporate ate client client base base for its hou housin sing g relate related d credit credit faciliti facilities. es. With With its its experience experience in the financial markets, markets, a strong strong market reputation reputation,, large shareholder shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.

Capital Structure The authorized capital of HDFC Bank is Rs.450 crores (Rs.45 billion). The paid-up capital is Rs.282 crores (Rs.28.2 billion). The HDFC Group holds 24.2% of the bank's equity while about 13.1% of the equity is held by the depository in respect of the bank's issue of American Depository Shares (ADS/ADR Issue). The Indian Private Equity Fund, Mauritius Banasthali vidhyapith

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(IPEF) and Indocean Financial Holdings Ltd., Mauritius (IFHL) (both funds advised by J P Morgan Partners, Partners, formerly Chase Capital Partners) Partners) together together hold about 5.5% of the bank's equity. Roughly 27.5% of the equity is held by FIIs, NRIs/OCBs while the balance is widely held by about 214,000 shareholders. The shares are listed on The Stock Exchange, Mumbai and the National Stock Exchange. The bank's American Depository Shares are listed on the New York Stock Exchange (NYSE) under the symbol "HDB".

Times Bank Amalgamation In a milestone transaction in the Indian banking industry, Times Bank Limited (another new private sector bank promoted by Bennett, Coleman & Co. /Times Group) was merged with HDFC HDFC Bank Bank Ltd. Ltd.,, effe effect ctiv ivee Febr Februa uary ry 26, 26, 2000 2000.. As per the the sche scheme me of amal amalgam gamat atio ion n approved by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. The amalgamation added significant value to HDFC Bank in terms of increased branch network, expanded geographic reach, enhanced customer base, skilled manpower and the opportunity to cross-sell and leverage alternative delivery channels.

Distribution Network HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over 468 branches spread over 212 cities across the country. All branches are linked on an online real-time basis. Customers in 90 locations are also serviced through Phone Banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centers where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing/settlement bank to various leading stock exchanges, the Bank has branches in the centers centers where the NSE/BSE NSE/BSE has a strong and active active member member base. The Bank also has a network of over 1054 networked ATMs across these cities. Moreover, HDFC Bank's ATM netwo network rk can can be acce access ssed ed by all all dome domest stic ic and and inte intern rnat atio iona nall Visa Visa/M /Mas aste terC rCar ard, d, Visa Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders. Banasthali vidhyapith

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Management Mr. Jagdish Capoor took over as the bank's Chairman in July 2001. Prior to this, Mr. Capoor was a Deputy Governor of the Reserve Bank of India. The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia. The Bank's Bank's Board Board of Direct Directors ors is compos composed ed of eminen eminentt indivi individua duals ls with with a wealth wealth of experie experience nce in public public policy policy,, admini administr strati ation, on, indust industry ry and commer commercia ciall banking banking.. Senior Senior executives representing HDFC are also on the Board. BOARD OF DIRECTORS

Managing Director Executive Director

Aditya Puri Paresh Sukhthankar

Executive Director

Harish Engineer

Chairman

Jagdish Kapur

Equi Eq uiti ties es and and Priv Privat atee Banki Banking ng and and NRI NRI Abhay Aima Business Information Technology and Legal Treasury

Anil Jaggia Ashish Parthasarthy

Merchant Services

Bharat Shah

Audit and Compliance

G Subramanyam

Credit and Market Risk Huma Human n Reso Resour urce cess Admin Adminis istr trat atio ion n Infrastructure Branch Banking Assets and Credit Cards

Kaizad Maneck Bharucha and and Mandeep Maitra Navin Puri Pralay Mondal

Retail Retail Liabil Liabiliti ities, es, Market Marketing ing and Direct Direct Rahul N Bhagat Banking Channels Operations Finance

Rajan Ananthanarayan Shashi Jagdishan

Treasury

Sudhir Joshi

Technology


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HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. The entire bank's branches have connectivity which enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs).

The Bank has made substantial efforts and investments in acquiring the best technology available internationally to build the infrastructure for a world-class bank. In terms of software, the Corporate Banking business is supported by Flex cube, while the Retail Banking business by Fin ware, both from i-flex Solutions Ltd. The systems are open, scaleable and web-enabled.

The Bank has prioritized its engagement in technology and the internet as one of its key goals and has already made significant progress in web-enabling its core businesses. In each of its businesses, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share.

Rating HDFC Bank has its deposit programmers rated by two rating agencies - Credit Analysis & Research Limited (CARE) and Fitch Ratings India Pvt. Ltd. The Bank's Fixed Deposit programme has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents instruments instruments considered considered to be "of the best quality, quality, carrying carrying negligible investment investment risk". risk". CARE has also rated the Bank's Certificate of Deposit (CD) programme "PR 1+" which represents "superior capacity for repayment of short term promissory obligations". Fitch Ratings India Pvt. Ltd. (100% subsidiary of Fitch Inc.) has assigned the "tAAA (ind)" rating to the Bank's deposit programme, with the outlook on the rating as "stable". This rating indicates "highest credit quality" where "protection factors are very high". HDFC Bank also has its long-term unsecured, subordinated (Tier-II) Bonds rated by CARE and Fitch Ratings India Pvt. Ltd. CARE has assigned the rating of "CARE AAA" for the Tier-II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating "AAA (ind)" with the outlook on the Banasthali vidhyapith

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rating as "stable". In each case referred to above, the ratings awarded were the highest assigned by the rating agency for those instruments?

AWARDS AND RECOGNITIONS Below are some of the prominent awards HDFC Bank won in 2008 under the stewardship of Mr.Puri

Business India “Best bank” 2008 Forbes Asia Fab 50 companies in Asia Pacific Asian Banker Excellence In Retail Financial Best Retail Bank 2008 Services Asia money

Best Local Cash Management bank Award

Business Today-Monitor group Fina Financi ncial al Ex Expr pres esss-Er Erns nstt and and Young Young Awar Award d

Voted By Corporate One Of India’s most Innovative companies Best Best Bank Bank Award Award In Th Thee Priv Privat atee Sect Sector or

Category Global HR Excellence Awards-Asia Pacific ‘Em ‘Employ ployer er bran brand d Of The The Year Year 2007 2007-HRM Congress Business Today

2008’award-First Runner Up ‘Best Bank’ Award

Product scope: HDFC Bank offers a bunch of products and services to meet the every need of the people. The company cares for both, individuals as well as corporate and small and medium enterprises. For individuals, the company has a range accounts, investment, and pension scheme, different types of loans and cards that assist the customers. The customers can choose the suitable one from a range of products which will suit their life-stage life-stage and needs. For organizations the company has a host of customized solutions that range from funded services, services, Non-funded services, Value addition addition services, services, Mutual Mutual fund etc. These affordable affordable plans apart from providing long term value to the employees help in enhancing goodwill of the company. The products of the company are categorized categorized into various sections sections which are as follows: •

Accounts and deposits. Banasthali vidhyapith

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•

Loans.

•

Investments and Insurance.

•

Forex and payment services.

•

Cards.

•

Customer center.


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ACCOUNTS & DEPOSITS

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Saving Account: Thes Th esee Accou Account ntss are are prim primar aril ily y mean meantt to incu inculc lcat atee a sens sensee of savi saving ng for for the the futu future re,, accumulating funds over a period of time. Whatever your occupation, we are confident that you will find the perfect banking solution. Open an account in your name or register for one jointly with a family member today. Regular Salary No Frills Classic

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Take advantage of Bill Pay, an instant solution to all your frequent utility bill payments. Instruct for payment over the phone or through the Internet.

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Avail of facilities like Safe Deposit Locker, Sweep-In and Super Saver facility on your account.

Eligibility & Account Operation The following are eligible to open a Regular Savings Account: 

Resident Individuals (sole or joint account).



Minor below 18 yrs. (account only with guardian). gua rdian).



Hindu Undivided Families.



Trusts.



Associations.



Clubs or Societies.



Foreign Nationals residing in India. If you are a Foreign National residing in India, you may open a Savings Account by temporarily attaching an undertaking stating sources of credit and a copy co py of your Residence Permit.

Account Operation

A minimum deposit of Rs. 5,000/- is required to open an account and thereafter an Average Quarterly Amount of the same amount has to be maintained. It is mandatory to maintain a minimum Average Quarterly Balance (AQB) of Rs. 5,000/-. If the balance falls below Rs. 5,000/- a service charge of Rs. 750/- will be levied per 22 Banasthali vidhyapith

quarter. If you open a Fixed Deposit Account of Rs. 50,000/-, then you no longer have to maintain a minimum balance of Rs. 5,000 on your Savings Account. In effect your account becomes a Zero Balance Account.

“NO FRILLS” SAVINGS ACCOUNT In an effort to make banking simpler and more accessible for our customers, we have introduced the 'No Frills' Savings Account, which offers you all the basic banking facilities, while you maintain a nominal average quarterly balance of only Rs. 250! You can even avail of services like Net Banking, Mobile banking ba nking free of cost. Features & Benefits 

Access a wide network of branches and over a thousand ATMs across the country to meet all your banking needs.



Bank conveniently with facilities like Free Net Banking and Mobile Banking.



Use the Free Electronic Funds Transfer (EFT) facility to transfer funds from your HDFC Bank account to an account in another Bank at the locations as specified by RBI.



Enjoy Free IVR based Phone Banking.



Get Free Quarterly Account Statements.



Access your account through a Free ATM Card.



Enjoy free Cash Deposits at Branch/ATM.



9 Free Cash withdrawals per Quarter at Branch and HDFC Bank ATMs

PLUS CURRENT ACCOUNT


23

The Current Account is most suitable for business class people. With HDFC Bank’s current account, one can get personalized cheque book, inter branch banking and a monthly account statement in addition to host of other features. The Bank provides two types of current account facilities.

a) Current Account Regular 

With minimum average balance of Rs. 10,000



In case of non-maintenance Rs. 300 per quarter



50 Cheques leave free

b) Current Account-Premium 

Minimum average balance Rs.25000



In case of Non maintenance Rs.600 per quarter



Cheque books free

REGULAR FIXED DEPOSIT The bank provides the facility of fixed deposit which can be opened with minimum deposit of Rs. 10000. All fixed deposits are cluster deposits held in units of Rs.1. The interest rates of fixed deposits are as under:

Period

Amount

Interest Rate

15 days to 29 days

Below Rs. 25 lacs

5%

30 days to 60 days

Below Rs. 25 lacs

7.25%

91 days to 180 days

Below Rs. 25 lacs

8.00%


24

6 months to 1 day 1 year

Below Rs. 25 lacs

8.5%

1 year 1 day to 5 years

Below Rs. 25 lacs

8.5%

Saving account

Below Rs. 25 lacs

4% p.a

HDFC Bank Plus: This is a CURRENT ACCOUNT that offers you much more than just quick and reliable service. Now one can transfer up to Rs. 50 lakhs per month free between the four metros. One can also get cheque clearing between four metros, courier facility, phone banking and personaliz personalized ed cheque book among a whole range of services all free of cost. In addition addition one can get cash delivery, home delivery of DDs, cheque protection facility, outstation cheques clearance facility etc.

Sweep in Account: Features

a) Easy to operate: operate: Money Money gets automat automaticall ically y swept into into your saving saving account, account, without any bother. b) Operate Operate your account account through through cheque or by ATM: ATM: Gives Gives you instant instant access access to your deposit, whenever you need it. c) Mini Minimu mum m inte intere rest st loss: loss: Since Since your your depo deposi sits ts are held held in unit unitss of Re.1, Re.1, you you only only encash the exact amount withdrawn. d) Acce Access ss your your money money free free of cost cost:: Th Ther eree are are no hidde hidden n charg charges es in the day to day day operations of your sweep in account.

e) Link Link Sever Several al Deposi Deposits ts togeth together er:: Open Open a new depos deposit it for Rs.500 Rs.5000 0 and it will will be linked to your sweep in account.

How does sweep in account work? Since deposit in account holds your money in a fixed deposit in units of Re.1, every time money is transferred from your fixed deposit to your saving account, interest loss in minimizes further you lose 1% of normal interest on the amount transferred from Banasthali vidhyapith

25

your fixed deposit. The rest of your deposit continues to earn the original rate till maturity.

There are more benefits of course, You can if you like, always open as on deposit for just Rs.5000. Further , you can link as many deposit, the Sweep in automatically choose the oldest deposit first before sweeping money into your savings accou nts.

ATM ATM means “ Automated Teller Machine” but it is popularly known as “Any Time Money”

and 365 days in a year from anywhere in India. ATM’s are actually banks in themselves. In other words, one can perform the banking operations by pushing few buttons. To withdrawal cash, make deposit or transfer funds between account you generally insert an ATM card and enter your personal identification number (PIN). It provides 24 hours encashment facilities to the customers. In India there are 600 ATMs.

Advantages of ATM:

i.

24 – Hours access to cash: -You can withdraw up to Rs. 10,000/- per day on

your ATM Cards. The fast cash option saves your time by providing the cash in denominations of Rs. 500/ii.

Balance inquiry: - Your updated balance will appear on the screen and will also

be printed on the transaction slip. iii.

Mini- statement request:-Get details of the last 9 transactions on your account

with the mini- statement, along with your balances. iv.

request for a cheque book or account statement statement Cheque book request: - Send a request and it will arrive at your doorstep.

v.

Funds transfer: - Transfer money from one of your accounts to another. It’s

easy. Select the account from which you want it transferred. Both accounts must be linked to your ATM Cards and Customers ID. Banasthali vidhyapith

26

vi.

Pin change: - You can conveniently change your PIN (given at the time of

opening your account) whenever you wish. Stay totally in control and ensure complete security for your ATM Card. vii.

Refill your Prepaid card - If you are an HDFC Bank Account holder and a

prepaid customer, you can now refill your prepaid card with our Prepaid Refill service. Know more. - Your cash or cheques can be deposited into your account and the ATM will immediately print a receipt for the same. viii.

Learn about all our other products : - Simply select a product and all the

information you require will be displayed on the screen. ix.

Pay your utility bills - Pay your cellular, telephone and electricity bills through

the ATM using Bill Pay, a comprehensive bill payments solution. Know more about Bill Pay. x.

Deposit cash or cheques - You can deposit cash or cheques into your account

and the ATM will immediately print a receipt for the same.

Glob Global al Netw Networ ork k HDFC HDFC Bank Bank ATMs ATMs are are a part part of the the VISA VISA Inte Intern rnat atio ional nal Plus Plus ATM ATM Network and the MasterCard International Cirrus ATM Network, and can be accessed by all domestic and international MasterCard, Cirrus or Maestro and VISA Electron cardholders for cash withdrawals and balance inquiries. HDFC Bank have also partnered with American Express Express to offer their domestic domestic and internatio international nal cardholders the benefits of cash advances from any of our ATMs.

CARDS CREDIT CARDS: Our ranges of Cards help you meet your financial objectives. So whether you are looking to add to your buying power, conducting cashless shopping, or budgeting your expenditure, you will find a card that suits you. Besides arming you with unmatched spending power, our Credit Cards are designed to meet your unique needs. Choose one that's tailored for you. Banasthali vidhyapith

27

HDFC Bank has recently launched the Credit Card. Using Credit Cards you can do shopping and need not carry large amount of money along with you. There are five types of Credit Cards given by HDFC bank i.e. Silver, Gold, Value Plus, Health Plus and Titanium Card. But here in Amritsar Titanium card has not yet launched. Here there are only four types of credit cards. All these cards are lifetime cards. These credit cards are International Credit Cards.

SILVER CREDIT CARD Here the minimum limit is Rs. 10,000 and maximum is 1 lakh. Here your amount will be withdrawn after 50days. This card also provide with 6.5 lakh accidental insurance absolutely free. But this you will have to claim within 24 hours. The documentation required for this is id proof, pan card etc. If the customer already has an account then the bank will fulfill all the formalities But if the account is new then Features & Benefits: Earn while you spend

With us, money spent is money earned. For every Rs. 100 you spend, you earn 2 reward points. You can redeem these accumulated points for exciting gifts and offers from our exclusive rewards program.  Add on cards

Get up to 3 supp supple leme ment ntar ary y card cardss for for your your spous spouse, e, pare parent nts, s, sibl siblin ings gs (own (own brother/sister), son and/or daughter (over 18 years) and allow them to enjoy the many benefits of a HDFC Bank International Silver Credit Card.  Zero liability on lost card

Report your credit card loss immediately to our executives at our 24-hour call centers. After reporting to us, you carry zero liability on any fraudulent transactions on your card.  Widely accepted

Accepted at over 110,000 merchant establishments across India and Nepal and close to 18 million VISA establishments around the world. Banasthali vidhyapith

28

GOLD CREDIT CARD 

If you have a taste for the good things in life.



If you like been waited upon.



If you never settle for anything but the best.

You don't have to look any further than the HDFC Bank Gold International Card. Join the most exclusive club in town. Get yourself an HDFC Bank International Gold Card and get introduced to a whole new life of privileges.

Features & Benefits:  Special offer on air tickets

Attractive discounts on domestic and international air tickets.  Discounts on hotel tariff

A whop whoppi ping ng 50% 50% dis discoun countt on hot hotel stay stayss acr across oss 30 citi cities es in Indi Indiaa thr through ough complimentary membership to the International Business Traveller's Club. This also entitles you to discounts up to 50% at over 10,000 hotels worldwide.  Extensive travel-related insurance

Covers loss of baggage, loss of air ticket, delayed flight, late baggage arrival, loss of passport and hijacking.  Comprehensive Insurance coverage

This coverage will cover accidental Death, hospitalizati hospitalization on expenses expenses due to an accident, accident, purchase protection and household insurance.  Greater reward points


29

You stand to earn 2 reward points for every Rs 100 spent by you - a clear 200% advantage over any other credit cards. This would be in addition to special promo programs where you would earn bonus bonu s points.

 Reward points redemption

After earning all those reward points, have fun redeeming them for exciting gifts and facilities, or just convert them directly into spends!! We present to you the My Rewards programme and the Air Miles redemption programmed.  My Rewards programmed

This programmed offers to you a vast array of products, gifts, holiday packages and more. You can even have the facility of acquiring what you need by paying partly through the accumulated points and paying the balance through your HDFC Bank Gold card. This is possible through our unique Classic, Premium and Fas Track programmers.  Air Miles redemption

Redeem your accumulated reward points for air miles on leading airlines like Indian Airlines and Jet Airways.  Worldwide acceptance

Accept Accepted ed at over over 23 millio million n Merchan Merchantt Establ Establish ishmen ments ts around around the world, world, includ including ing 110,000 Merchant Establishments in India.  Revolving credit facility

Pay a minimum amount, which is 5% (subject to a minimum amount of Rs.200) of your total bill amount or any higher amount whichever is convenient and carry forward the balance to a better financial month, for which you pay a charge of 2.95% (2.85% per month for HDFC Bank Account Holders) per month.  Free Add-on card

You can share these wonderful features with your loved ones too - we offer the facility of an add-on card for your spouse, children or parents. Allow us to offer the first such add-on card to you FREE OF COST with our compliments. Banasthali vidhyapith

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 Interest free credit period

Your Card now gets you the highest Free Credit Period of up to 50 days from the date of purchase (subject to the submission of the charge by the Merchant). Subsequently, if you carry forward your outstanding balance you just pay a nominal interest of 2.95% (2.85% per month for HDFC Bank account Holders) per month.

INTERNATIONAL INTERNATIONAL DEBIT CARD: HDFC Bank has recently launched the International Debit Card in Mumbai and Delhi in association with Visa. The Debit Card is just like ATM, with the advantage that it can also be used to shop or pay to just about anything. All over the India as well as abroad, it is applicable. A Debit Card is basically a better way of carrying cash or a cheque book. It is an electronic card that one can use as a convenient payment mechanism. The card is generally issued by your bank and is connected through the ATM. Debit Card allow you to spend only what is in your account and purchase should be kept track of just as if you’re writing a cheque.

For transaction at VISA/PLUS ATMs following charges apply.

Domestic Visa/Plus Atm Location

Cash withdrawal per transaction

Rs. 55

Balance enquiry per transaction

Rs. 10

International Visa/Plus ATM Location

Cash withdrawal per transaction

Rs. 110

Balance enquiry per transaction

Rs. 10

Eligibility: Banasthali vidhyapith

31

A. Resident Resident Indian Indian holding any of the the following following Accounts Accounts with with HDFC Bank:Bank:-

1. Savi Saving ng Acco Accoun untt 2. Curren Currentt Account Account ( Sole Sole Propri Proprieto etorsh rship) ip) 3. Supe Superr Savi Saving ng Acc Accou ount nt 4. Loan Loan Again Against st Shares Shares Account Account (LAS) (LAS) 5. Sal Salary ary Acc Accou ount nt

B. NonNon- Resi Residen dentt Indi Indian an hold holdin ing g any any of the the foll follow owin ing g NRI NRI Acco Account untss with with HDFC HDFC Bank:1. NRI NRI Sav Savin ing g Acc Accou ount nt 2. NRE Saving Saving Deposi Depositor tory y Account Account 3. NRE Curren Currentt Depo Deposit sitory ory Account Account

Advantages of International Debit Card

I. Internat Internationa ionall Debit Debit Card: Its Its like an ATM ATM card you you shop with: with:

a. Use your your HDFC HDFC Bank Intern Internation ational al Debit Card to to access access your account from a widespread network of ATM’s within India and abroad. Withdraw cash at over 7, 00,000 Visa/Maestro/Plus/Cirrus Visa/Maestro/Plus/Cirrus ATM’s in 140 countries. b. Shop at over 30,000 30,000 establ establish ishmen ments ts in India and over 10 millio million n worldwide worldwide with your International Debit Card. c. At select selected ed Branche Branchess of Canara Canara Bank Bank and Bank of India India you you can withdr withdraw aw cash against your HDFC Bank International Debit Card (available only with the Visa Electron programme).

II. Cash Cash withdr withdraw awal al at selec selectt Cana Canara ra Bank and Bank Bank of India India branch branches es (for Visa Electron Programme only): Walk into 450 selected branches of Canara Bank of India

across the country and withdraw cash against your HDFC Bank International Debit Card (available only with the Visa Electron programme). Banasthali vidhyapith

32

III. III. Daily Daily wit withdr hdrawa awall limi limits: ts: you can withdraw up to Rs. 15,000/- at ATMs and make

purchases up to Rs. 25,000/- at merchant locations (Point of sale) per day. For cash withdrawal Canara Bank and Bank of India locations (VISA Electron Card holder only) the point of sale limit applies.

NET BANKING Net Banking is HDFC Bank's Internet Banking service. Providing up-to-the-second account information, Net Banking lets you manage your account from the comfort of your mouse anytime, anywhere. Net Banking is Real Time, giving you up-to-the-second details on your account. It can be accessed anytime, from anywhere, giving you complete control over your finances. There are no queues to stand in, or turns to wait for. With Net Banking you are in control. HDFC Bank's Net Banking service is secure. Using industry-standard technologies and infrastructures, our service gives you peace of mind. So next time you think of visiting your branch, switch on your PC instead. It is most sophisticated way to bank. This is another convent way to access the bank account from from any

part of word, word, through through internet, internet, when one one registers registers for net banking. banking.

He/She will get a password which can be used with the customer ID number to conduct transactions and get up to date the products and services round the clock.

Features •

View Account Balances & Statements

•

Transfer Funds between accounts

•

Create Fixed Deposits Online

•

Request a Demand Draft

•

Pay Bills

•

Order a Cheque Book Banasthali vidhyapith

33

•

Request Stop Payment on a Cheque

Eligibility:-

All you need to access Net Banking if you have a saving or current or fixed deposit account. Financi Financial al transa transacti ctions ons can be made made by saving saving account account holder holder (with (with either either or surviv survivor or mandate), individual current account holder and sole proprietorship account holder. Now you can also download the form from the website or contact your nearest branch. ADVANTAGES OF NET BANKING:

i.

Real-time, online banking: Net Banking is anytime, anywhere, real time, on

line banking. Real time means instant up to the second account transactions displayed on the Internet. HDFC Bank is among the first in INDIA to enable such high tech connectivity. ii.

Banking uses uses 128 128-bi -bitt encryp encryptio tion n Secure Secure Socket Socket Layer Layer (SSL) (SSL) Security: Net Banking technology, one of the most secure forms of transaction and the highest level of security commercially available on the internet.

iii. iii.

Up-toUp-to-the the-se -seco cond nd acc accoun ountt balan balance ce// state stateme ment nt inqu inquiry iry::

iv.

Request for a new fixed deposit: Make a Fixed Deposit inquiry or even make

a TDS inquiry on your Fixed Deposits. v.

Request for a cheque book : Enquire about the status of a cheque issued or stop

cheque payment request in an emergency. vi.

Request for Demand Draft/banker’s Draft/banker’s Cheque: They will be delivered to your

mailing address. vii.

Free Online Third Party Transfer Facility: Instantly transfer funds between

your accounts and to a third party that have an account with the bank. viii.

Demat on NET: It help you view your Demand Account, account holdings,

transactions in the account company-wise, and get details regarding pay-in, payout dates, etc. ix.

Funds Transfer: Transfer: Net Banking makes it easy to transfer funds between any of

your accounts, even if they are in different branches/cities.


34

PREFEERED BANKING How you would like a banker dedicated to take care of all your banking requirements and suggesting ways to invest your money with good returns from time to time? If you're a seasoned professional or have been running a successful business over the years, the HDFC Bank Preferred Programme is meant for you. As a valued customer you benefit from our Relationship Pricing Programme with exclusive offers such as a free Gold International Debit card, a free International Titanium card or a free International Gold Credit Card, loans at preferential rates, etc.

Features & Benefits:



Dedicated Relationship Manager



Customized Investment Solutions



Investment Options



Wealth Management Program



E-Broking



Expedite Tax Payments



Relationship Pricing



Business Solutions



On-demand exclusive privileges



Annual Service Charge Waiver


35

PROFILE OF BANK

About – ICICI Bank Limited, India

In 1955, The Industrial Credit and Investment Corporation of India Limited (ICICI) was incorporated at the initiative of World Bank, the Government of India and representatives of Indian Indian indust industry, ry, with with the object objective ive of creati creating ng a develo developme pment nt financ financial ial instit instituti ution on for providing medium-term and long-term project financing to Indian businesses. In 1994, ICICI ICICI establ establish ished ed Banking Banking Corpor Corporati ation on as a banking banking subsid subsidiar iary. y. Former Formerly ly known known as Industrial Credit and Investment Corporation of India, ICICI Banking Corporation was later renamed as 'ICICI Bank Limited' Capital structure

ICICI Bank is India's second-largest bank with total assets of Rs. 3,634.00 billion (US$ 81 billion) at March 31, 2010 and profit after tax Rs. 40.25 billion (US$ 896 million) for the year ended March 31, 2010. ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

BOARD OF DIRECTORS

Managi Managing ng Direct Director or and Chief Chief execut executive ive Chanda Kochhar Officer Deputy Managing Director

Sandeep Bakhshi


36

Executive Director Senior Secretary Senior General Manager Executive Director Executive Director Senior Secretary Chief Technology Officer

Kannan.S Nita Colaco Nimesh Shah Sonjoy Chatterjee Ramkumar K Lucy Almedia Pravir Vohra

Distribution network

The Bank has a network of 2,016 branches and about 5,219 ATMs in India and presence in 18 countries. countries. ICICI Bank offers a wide range of banking products products and financial financial services to corpor corporate ate and retail retail custom customers ers throug through h a variet variety y of delive delivery ry channel channelss and through through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Kingdom, Russia Russia and Canada, branches in United United States, States, Singapore, Bahrain, Hong Kong, Sri Lanka, Lanka, Qatar Qatar and Dubai Dubai Intern Internati ational onal Financ Financee Centre Centre and repres represent entati ative ve office officess in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany. Technology

Sky Cell Communications Ltd, one of the two cellular service providers in Chennai, has launched `Sky Banking', for which the company has tied up with ICICI Bank and HDFC Bank. The ICICI has announced the launch of mobile banking services for its customers, using the wireless application protocol (WAP) technology. Ford India has tied up with ICICI Bank to introduce a scheme, enabling non-resident Indians (NRIs) to purchase a Ford Ikon car for their friends and relatives in India. ICICI Bank has set up an ATM facility at an Indian Oil Corporation petro diesel outlet at Chennai. ICICI Bank has tied up with Chennai Telephones to provide Internet bill payment facility to its customers.

AWARDS AND RECOGNITIONS



ICICI Bank bags the “Best bank in SME financing financing (Private Sector)” Sector)” at the Dun and Bradstreet awards 2009.


37



ICICI Bank NRI services win the “Excellence in Business Model Innovation Award” in the the eigh eighth th Asia Asian n Banke Bankerr Ex Exce cell llenc encee in Reta Retail il Fina Financi ncial al Serv Servic ices es Awar Awards ds Programme.



ICICI bank’s Rural Micro Banking and Agri-Business Group wins WOW Event and Experienti Experiential al Marketing Marketing Award in two categories: categories:.” .” Rural Marketing Marketing Programme Programme of the Year” and “Small Budget on Ground Protection of the Year”. These awards were given for Cattle Loan ‘Kamdhenu Campaign’ and ‘Talkies on the move campaign’ respectively.



ICICI Bank’s Germany branch has been certified by “Stiftung Warrentest”.ICICI Bank is ranked 2nd amongst the 57 savings products across 19 banks.



ICICI Bank Germany won the yearly banking test of the investor magazine Euro in the “Call Money” category.



ICICI Bank was awarded the runner’s up position in Gartner Business Intelligence and Excellence award for Asia Pacific P acific for its Business Intelligence functions.



ICIC ICICII Bank Bank’s ’s Orga Organi niza zati tion onal al Ex Exce cell llenc encee Grou Group p was was rece recent ntly ly awar awarde ded d ISO ISO 9001: 9001:20 2008 08 cert certif ific icat atio ion n by TUV TUV Nord. Nord. Th Thee scop scopee of cert certif ific icat atio ion n comp compri rise sed d proces processes ses around around consult consulting ing and capabi capabilit lity y buildi building ng on method methodss of quality quality and improvements.



ICICI Bank has been awarded the following titles under The Asset Triple A Country awards for 2009



•

Best Transaction Bank in India

•

Best Trade Finance Bank in India.

•

Best Cash Management Bank in India.

•

Best Domestic Custodian in India.

ICICI Bank Canada received the prestigious Canadian Helen Keller Award at the Canadian Helen Keller Centre’s Fifth Annual Luncheon in Toronto. The award was given to ICICI Bank for its long-standing support to its unique training centre for people who are deaf-blind.


38

Types of Saving Accounts Life Plus Senior Citizen Services ICICI Bank’s ‘Life Plus’ Senior Citizen Services have been designed to empower senior citizens to independently carry out the day-to-day banking transactions with dignity and confidence. These senior citizen benefits are exclusively for customers above 60 years of age. The ICICI Bank Edge •

•

•

•

•

•

•

•

•

•

Designated Senior Citizen’s desk for Life Plus customers at all ICICI Bank b ranches Higher Interest Rates on Term Deposits Overdraft against your deposit Free collection of outstation cheques drawn on any ICICI Bank location Special Senior Citizen 'Life Plus' Debit card Money Multiplier Facility Anywhere Banking Internet Banking Customer Care Nomination Facility

Features

No more waiting in long queues for you, a senior citizen can now approach the Designated Senior Citizen desk at any ICICI Bank branch and get his / her account serviced. Earn a higher interest rate on your terms deposits with us. Demand Loan / overdraft against deposits will be up to 90% of the deposit. d eposit. The upcountry cheques collection facility for locations with ICICI Bank presence free of charge to the Senior Citizen customers. Free quarterly physical statement. •

•

•

•

•


39

Payable-at-par cheque book. Free Access to any Bank's ATM* - The next time you want to withdraw cash from your ICICI Bank account, just walk into any bank's ATM and use your ICICI Bank ATM-cum-Debit card. Money Multiplier Facility. Internet Banking is offered free of cost. Anywhere Banking - This facility entitles the account holder to one free cash withdrawal or deposit per month up to a limit of Rs.50,000 across all ICICI Bank branches. Rest of the transactions at normal charges #. You can give us various types of standing instructions like transferring to fixed deposit accounts at regular intervals. An average quarterly balance of Rs 5,000 only. Nomination facility is available. Interest is payable half-yearly. Now, get a specially designed debit card with your new 'Life Plus' Senior citizen account. This ICICI Bank Ncash debit card is a debit-cum-ATM card providing you with the conveni convenienc encee of accept acceptance ance at merchan merchantt establ establish ishmen ments ts and cash cash withdr withdrawa awals ls at ATMs. With a per-day limit of Rs.25, 000 each for ATM withdrawals as well as for POS transactions, the Debit Card only adds more comfort and convenience! This is available free of cost to ICICI Bank Senior Citizen customers. •

•

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•

•

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Minimum Balance

A minimum average quarterly balance requirement of Rs. 5000 with the account. Nonmaintenance of the minimum average quarterly balance attracts a fee of Rs 250 per quarter. Existing Existing Senior Citizen customers will continue to enjoy the zero balance balance facility facility with Rs. 10,000 FD till 30th September, 2007. From October 1st, 2007, a minimum balance of Rs. 5,000 is required. Nomination

Nomination facility available for bank deposits. There can be only one Nominee for a deposit account whether held singly or jointly. A person legally empowered to operate a minor's account can file a nomination on behalf of the minor. •

•

•


40

Applic Applicant antss can make make nomina nominatio tion n by fillin filling g up the Form Form prescr prescribe ibed d under under the Banking Companies (Nomination) Rules 1985. The nomina nominatio tion n detail detailss can be changed changed during during the subsis subsisten tence ce of the account account rela relati tion onsh ship ip by fill fillin ing g up the the Form Form pres prescr crib ibed ed unde underr the the Bank Bankin ing g Comp Compan anie iess (Nomination) Rules 1985. •

•

Advantage Woman Savings Account The ICICI Bank Advantage Woman Account enables today’s independent women to enjoy hassle hassle-fr -free ee bankin banking g servic services. es. Beside Besidess the core core ICICI ICICI Bank Bank advanta advantage, ge, the Advanta Advantage ge Woman Savings Account is packed with special benefits for our women customers. Enjoy your present and plan for the future with ICICI Bank’s Advantage Woman Savings Account. Advantage Woman offers a specially designed woman's debit card which helps you shop and save simultaneous simultaneously, ly, manages your household household expenditures expenditures and comes with a bag full of offers attached to it. Eligibility

Advantage Woman Savings Account can be opened with primary applicant as any resident Indian woman (majors above 18 years).

The ICICI Bank Edge

Zero Balance facility with a RD of just Rs. 2,000**. 2,00 0**. A Speci Special al Inte Intern rnat atio ional nal Woma Woman' n'ss Debit Debit card card alon along g with with the the acco account unt with with a withdrawal / spending limit of Rs. 25,000 per day. Gamut of discounts and benefits on your Special Sp ecial Woman's Debit card. Free multi-city cheque book. Free quarterly physical account statement and free monthly email statement (on customer request). Online Bill Pay facility by issuing a one-time standing instruction. Multi channel access through ATM, Branch network and free Internet, mobile and phone banking. •

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•

Nomination facility available.

Nomination Facility

Nomination facility available for bank deposits. There can be only one Nominee for a deposit account whether held singly or jointly. A person legally empowered to operate a minor's account can file a nomination on behalf of the minor. Applic Applicant antss can make make nomina nominatio tion n by fillin filling g up the Form Form prescr prescribe ibed d under under the Banking Companies (Nomination) Rules 1985. The nomina nominatio tion n detail detailss can be changed changed during during the subsis subsisten tence ce of the account account rela relati tion onsh ship ip by fill fillin ing g up the the Form Form pres prescr crib ibed ed unde underr the the Bank Bankin ing g Comp Compan anie iess (Nomination) Rules 1985. For more details approach your bank. •

•

•

•

•

•

**This is as long as the Recurring Deposit is active, else a Minimum Quarterly Average Balance (QAB) of Rs.10, 000/- is to be maintained and standard charges will be debited on non-maintenance of QAB.

Privilege Banking Choose the ICICI Bank Privilege Privilege Banking Banking account to enjoy exclusive exclusive benefits across wide range of product and services. The Privilege banking account variants we offer are - silver , gold and titanium titanium;; each desig designe ned d to suit suit your your spec specif ific ic needs needs.. In addi additi tion on to bene benefi fits ts like like money multi multiplier plier , nomination nomina tion facil facility ity,, inter internet net bankin banking g and mobil mobilee bankin banking g, you you can can avai availl othe otherr speci special al privileges like: •

•

•

•

•

•

Priority service at all ICICI bank branches branches and through Customer Care. Preferential rate on purchase of ICICI Bank pure pure gold and foreign exchange. exchange. Discount on annual fee for safe deposit locker. Special rates on ICICI Bank loans. loans. Preferential rate on DD/ PO charges. Multi-city cheque book.


42

Young Stars At Young Stars, we will guide your child through the world of banking - from checking the child’s savings account balance to guiding through fun zones and special pages on the Internet Banking channel. It makes banking a pleasure and teaches your child to manage his or

her

personal

finances

through

a

savings

account .

You can transfer pocket money into your child's account. You can even shop with him / her at Young Stars Shopping Page. You can also open a recurring deposit in your child's name. Once you are done with your 'banking', you can access your child's account with all the fun link linkss to spec specia iall zones zones desi designe gned d to suit suit your your chil child' d'ss area area of inte intere rest stss and and also also impa impart rt knowledge

on

the

current

events

of

t he

world.

Key Features •

•

•

•

•

•

•

Open a Kid's Savings Account, Fixed Deposit or a Recurring Deposit. The minimum average balance for a Savings Account Is Rs.2, 500. Free personalized Cheque Book Internet Banking. Free International Debit Card*. Daily withdrawal and spends of up to Rs.2, 500. Transfer Funds Facility.

Eligibility ICICI Bank Young Stars Account is a banking service for children in the age group of 1

day-18 years. It is essential for the parent/guardian to also hold an account with ICICI Bank. In event of the parent/guardian not holding an ICICI Bank Savings Account, both the accounts (parent's Saving Account and Young Star Account) can be simultaneously opened.


43

SWOT ANALYSIS (HDFC Bank) STRENGTH: 

Right strategy for the right products.



Superior customer service vs. competitors.

WEAKNESSES: 

Some gaps in range for certain sectors.



Customer service staff needs training.



Sectoral growth is constrained by low unemployment levels and competition for staff.

OPPURTUNITIES: 

Could extend to overseas broadly.



Fast-track career development opportunities on an industry wide basis.



Could seek better customer deals.

THREATS: 

Very high competition prevailing in the industry.



Lack of infrastructure in rural areas could constrain investment.



High volume/low cost market is intensely competitive.

COMPETITIVE SWOT ANALYSIS WITH ICICI BANK:


44

STRENGTH WEAKNESS OPPURTUNITIES S-O STRATEGIES Strength: Large capital base Opportunity: Market Expansion Strategy: Deep penetration into rural market W-O STRATEGIES Weakness: Workforce responsiveness. Opportunity: Outsourcing of Non-Core Business. Strategy: Outsource customer care and other E-Helps. THREATS S-T STATEGIES Strength: Low operating costs. Threat: Increased competition from other private banks. Strategy: Steps to ensure loyalty by old customers. W-T STRATEGIES Weakness: Not equal to International Standards. Threat: Entry of many foreign banks. Strategy: Consider additional benefits


45

RESEARCH METHODOLOGY Resear Research ch methodo methodolog logy y is a system systemati aticc way, way, which which consis consists ts of series series of action action steps, steps, necessary to effectively carry out research and the desired sequencing to these steps. The marketing research is a process of involves a no. of inter-related activities, which overlap and do rigidly follow a particular sequence. It consists of the following steps:•

Formulating the objective of the study

•

Designing the methods of data collection

•

Collecting the data

•

Processing and analyzing the data

•

Reporting the findings

Objective of Study

Research Design


46

Data Collection

Data Data Anal Anal sis sis

OBJECTIVE 

To undertake the comparative analysis of privatize banks (HDFC bank and ICICI bank ) in saving accounts sector.



To study study consumer above two mentio mentioned ned saving accounts consumer preference preference for the above players.



To analyze the satisfaction satisfaction level of privatize privatize banks (HDFC Bank and ICICI Bank) Home Loan Customers.



To know the strengths of the HDFC & ICICI brand and also those which can be

daily to strength the brand image.

LIMITATIONS 

This research study was time bound and due to this only few topics were taken up for study.



This research study was taken in a limited area only (i.e.Kota city) and findings may vary if the area of study is increased or changed.



Some of the respondents might have been biased in their responses as such the analysis could vary to some extent. Banasthali vidhyapith

47



While analysis of data, some human errors could have been possible.



Sample drawn through convenience sampling, for customer survey cannot be well associated with the attributes of population. Here I got the questionnaire fill from people selected arbitrarily who happened to be those: we are familiar with e.g. our neighbors, our friends, etc. The majority of the respondents were from educated middle class and perhaps this is the section of society which is being targeted by banks. This is because of two reasons:

a) The huge size of middle class population. b) Their increasing need and awareness for savings in this class.

RESEARCH DESIGN A rese resear arch ch desi design gn is the the speci specifi ficat catio ion n of meth method odss and proce procedu dure ress for for acqu acquir irin ing g the the information needed. It is the overall operational pattern or framework of the project that stipul stipulate atess what what inform informati ation on is to be collec collected ted from from which which source source by what what proced procedure ures. s. Research design denotes the description of the research design. The aim was to collect relevant information, which fulfill our requirement and can be analyzed at a later stage of study without any problem. This was to be done in minimum expenditures and least efforts and in a set period of time. For my research I select ‘DESCRIPTIVE DESCRIPTIVE RESEARCH RESEARCH DESIGN’ to know the Comparison between Saving Accounts of HDFC Bank and ICICI Bank in Kota city. This helped us in having enough provision for protection against bias

and maximizes reliability.

DATA COLLACTION Banasthali vidhyapith

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DATA COLLECTION METHOD

The methodology methodology reveals reveals the methods of data collection. collection. There may be primary primary sources or secondary sources of data collection.

Collecting Secondary Data:

After deciding my objective I looked for collecting and studying secondary data. It included extensive study of literature available in reports of HDFC bank and ICICI Bank, articles, newspapers, journals, magazines, handouts, pamphlets describing the banks.

Study of secondary data gave me an insight into the problem into hand. It also provides me with clues and helped in designing primary research. It provided us a more accurate picture about the functioning of various service providers in the Kota city. Extensive use of secondary information in the form of magazines, journals, newspaper clippings, such as Business World, Business Today, Business India, Economic Times, etc. Internet websites of HDFC Bank and ICICI Bank.

Collecting Primary Data:

The objective of Primary data is formulated on the basis of research objectives. Objectives set the guidelines and directions of research planning .Formulating the objectives offers the best feasible means of solution. The primary data for my study was being collected by conducting survey. To analyze buying behavior and in order to gain an insight into the buyer need-satisfaction level, a questionnaire was formulated and administered among 100 people. The tools for data collection used were following types:

TELEPHONE INTERVIEW:

The telephone interview is used in lieu of personal interviews. It is used because information has to be collected quickly and inexpensively. By it I asked the customer about their satisfaction about HDFC Bank and ICICI Bank Home Loan procedure. The direct and structured questions are asked by customers. QUESTIONNAIRES: Banasthali vidhyapith

49

This method of data collection is quite popular, particularly in case of big enquiries. A questionnaire is a method of obtaining specific information about a defined problem so that data, after analysis and interpretation, results in a better appreciation o f the problem.

In order to motivate respondents and to get best of the information from them, I was tried to build build questio questionnai nnaire re that that is intere interesti sting, ng, serve serve my object objective ive,, unambig unambiguous uous and easy easy to complete and is not burdensome. The aim was to enable ease in analysis and facilitate easy classification of response to get meaningful outcome w ithin acceptable limits.

EXECUTION OF SURVEY WORK:

The survey work is that was done to collect primary data. I conducted “Consumer Survey “by using questionnaires. I individually approached to individuals and got the questionnaire filled by them. The individuals were randomly chosen.

ANALYSIS AND INTERPRETATION: The following analysis was done to obtain the findings in accordance with our objectives determined during the course of study. To know about comparative study of home loan scheme offered by HDFC Bank and ICICI Bank and assessing the level of consumer satisfaction. Following questions asked in the questionnaire: The questionnaire was filled by 300 respondents. Out of 100, 35% are females and 65% are male males. s. Th Thee age age of the the resp respond onden ents ts lie lie betwe between en 20ye 20year arss to 60 year years. s. Th Ther eree are1 are15% 5% respondents lie between age group of 20-30 years,26%respondents are of 30-40 years of age,30% respondents are of age group of 30-40 ,14% respondents lie between age group of 40-50 years and 15% respondents are of age group 50-60 years.

Q.1.In which type of job you are?

Types Of Of Jo Job

Government

Private Sector

Business

Others

sector Banasthali vidhyapith

50

No. Of Persons (%)

23%

39%

24%

14%

ANALYSIS

Out of 100 respondents, respondents, there are 23% persons persons who are in government government sector,39% sector,39% persons are from private sector,24% persons have their own business and 14% belongs to others category.

Q.2.What is your salary structure slab (Per Month)?

Salary <10,000 No. Of Persons (%)

10,000-20,000

20,000-30,000

38%

25%

29%

>30,000 8%

ANALYSIS

Among 100 respondents, the salary of 29% persons are below Rs.10,000,salary of 38% persons lies between Rs.10,000-Rs.20,000,salary of 25% persons lies between Rs.20,000Rs30,000,and salary of 8% persons is more than Rs.30,000.

Q3. Do you have Bank Account?

Options

Respondents

Percentage

Yes

46

76.67%

No

14

23.33%

Total

60

10 0

ANALYSIS


51

As the research is convenience sampling and related to respondents who availing services are of banks so only those customers were targeted who were having bank accounts and using banking services. 77% were having their bank accounts.

Q.4.Which bank you prefer to open saving account?

Bank No. Of

Persons

HDFC Bank 37%

ICICI Bank 29%

Others 34%

(%) ANALYSIS

Among 100 respondents, 37% persons prefer HDFC Bank to take personal loan, 29% persons prefer ICICI Bank and 34% persons prefer other banks to take personal loan.

Q.5.According to you which bank provides better services and good treatment in other products and services?

Bank No.

Of

HDFC Bank Persons

27%

ICICI Bank 39%

Others 34%

(%) ANALYSIS: Among 100 respondents, 27% persons say that HDFC bank provide good

treatment, 39% persons says that ICICI bank provide good treatment and 34% persons says that other banks provides good treatment.

Q.6.According to you who enjoy good reputation in saving account sector?

Bank No. Of Persons(%)

HDFC Bank 35%


ICICI Bank 32%

Others 33%

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ANALYSIS

Among 100 respondents, 35% persons say that HDFC bank enjoys good reputation, 32% persons says that ICICI bank enjoys good reputation and 33% persons says that other banks enjoys good reputation. Q.7.Which bank charges lower account maintenance fees?

Bank No .Of

HDFC Bank 42%

Persons

ICICI Bank 38%

Others 20%

(%) ANALYSIS

Among 100 respondents, 42% says that HDFC bank charges lower maintenance fees, 38% persons says that it is low in case of ICICI bank and 20% says that other banks charges lower maintenance fees.

Q.8.Your opinion about HDFC saving account products?

Opinion

Average

No. Of Persons

10%

Good

Very Good

14%

44%

Excellent 32%

(%) ANALYSIS

Among 100 respondents, 10% says that HDFC saving account products are average, 14% says that it is good, 44% says that it is very good and 32% says that HDFC saving accounts products are excellent.

Q.9.Your opinion about ICICI saving account products?

Opinion No. Of persons

Average 21%

Good 46%

Very Good 18%

Excellent 15%

(%) Banasthali vidhyapith

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ANALYSIS

Among 100 respondents, 21% says that ICICI saving account products are average, 46% says that it is good, 18% says that it is very good and 15% says that ICICI saving account products are excellent.

FINDINGS 

Out of 100 respondents, there are 23% persons who are in government sector, 39% persons are from private sector, 24% persons have their own business and 14% belongs to others category.



Among 100 respondents, the salary of 29% persons are below Rs.10,000,salary of 38% persons lies between Rs.10,000-Rs.20,000,salary of 25% persons lies between Rs.20,000-Rs30,000,and salary of 8% persons is more than Rs.30,000.



Out of 100 respondents, there are 70% people who were having saving account in any banks.



Among 100 respondents, 37% persons prefer HDFC Bank to open saving account, 29% persons prefer ICICI Bank and 34% persons prefer other banks to open saving account



Among 100 respondents, 27% says that HDFC bank provide good treatment, 39% says that ICICI bank provide good treatment, 34% says that other banks provides good treatment.



Among 100 respondents, 35% persons say that HDFC bank enjoys good reputation, 32% persons says that ICICI bank enjoys good reputation and 33% persons says that other banks enjoys good reputation.



Among 100 respondents, 42% says that HDFC bank charges lower maintenance fees, 38% persons says that it is low in case of ICICI bank and 20% says that other banks charges lower maintenance fees. Banasthali vidhyapith

54



Among 100 respondents, 10% says that HDFC saving account products are average, 14% says that it is good, 44% says that it is very good and 32% says that HDFC saving account products are excellent.



Among 100 respondents, 21% says that ICICI saving account products are average, 46% says that it is good, 18% says that it is very good and 15% says that ICICI saving account products are excellent.

RECOMMANDATIONS 

ICICI Bank and HDFC bank has to improve its brand

image, i.e. it has to position itself in the minds of prospects in a better way in comparisons to others. 

People who deal with customers should have complete knowledge about the different products and their features. 

It should more emphasize in advertising, as it is the

most powerful tool to position ant brand in the mindsets of customers. 

It should provide online training and for those who are

in jobs and want to become advisors HDFC should provide evening training classes, so that they can join the training after doing their jobs. 

It should open more number of branches in different cities.

CONCLUSION After doing a lot of research and studying the materials available on internet, newspapers, magazines and journals. I want to conclude that people prefers HDFC Bank more than ICICI Bank for saving accounts in private sector. As private banks are coming daily in our country still, Mostly people prefers government banks for saving accounts, especially older persons are more dependent on government banks. It is true that younger population preference is Banasthali vidhyapith

55

changing and they prefer more private banks because of services and facilities provided by priva private te banks. banks. The appear appearanc ancee of banks banks also also become becomess very very import important ant for the presen presentt gener generat atio ion n and and priv privat atee bank bankss put put thei theirr compl complet etee effo effort rtss on this this,, whic which h is lacki lacking ng in government banks. At last I can only say that HDFC Bank enjoys leading position in personal saving account sector.

BIBLIOGRAPHY Books •

Marketing Management (10 Edition), Philip Kotler

•

Research Methodology (2nd Edition), C.R. Kothari

Websites •

www.hdfcbank.com

•

www.google.com

•

www.icicibank.com


56

ANNEXURE

Dear Sir/Madam, Name:

I am a student of Banasthali University Jaipur Campus, Jaipur and presently doing a project on “COMPARISION BETWEEN SAVING ACCOUNTS OF HDFC BANK AND ICICI BANK”. I request you to kindly fill the questionnaire below and I assure you that the data generated shall be kept confidential. Q.1.In which type of job you are? a) Govt Govt.. sect ector b) b) Priv Privat atee sect sector or c) Business d) Others Q.2.What is your salary structure slab (Per Month)? a) <10000 b) b) 1000 100000-20 2000 000 0 c) 2000 200000-30 3000 000 0 d ) > 30 000 Q3. Do you have Bank Account? a) Yes b) No Q.4.Which bank you prefer to open saving account? a) HDFC Bank Banasthali vidhyapith

57

b) b) ICICI CICI Bank Bank c) Others Q.5.According to you which bank provides better services and good treatment in other products and services? a) HDFC Bank b) b) ICICI CICI Bank Bank c) Others

Q.6.According to you who enjoy good reputation in saving account sector? a) HDFC Bank b) b) ICICI CICI Bank Bank c) Others Q.7.Which bank charges lower account maintenance fees? a) HDFC Bank b) b) ICICI CICI Bank Bank c) Others Q.8.Your opinion about HDFC saving account products? a) Average b) Good c) Very Good d) Excellent Q.9.Your opinion about ICICI saving account products? a) Average b) Good c) Very Good d) Exce xcellent

Date: Place:

Signature: Banasthali vidhyapith

58

Thank You


59

Comparative analysis of saving account of HDFC & ICICI bank

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