PROJECT REPORT

ON

CUSTOMER SATISFACTION IN CONTEXT OF

STATE BANK OF INDIA
SUBMITTED IN PARTIAL FULFILLMENT FOR THE
AWARD OF THE DEGREE OF
BACHELOR OF BUSINESS ADMINISTRATION
2011-13
UNDER THE GUIDANCE OF
Ms. GUNJAN BUDHLANI
(Assistant Professor, BITTR)

SUBMITTED BY: VARUN PRAKASH

Roll No.: 07811301710
Batch No.: BBA III Sem

BERI INSTITUTE OF TECHNOLOGY, TRAINING AND

RESEARCH
PVC Market, Tikri Kalan, Delhi
Affiliated to Guru Gobind Singh Indraprastha University, Delhi
B O N A F I E D C E RTI F I C ATE

I certified that this project report titled

C U S T O M E R S ATI S FAC T I O N I N C O N T E X T
O F S TATE B A N K O F I N D I A

is the bonafied work of

VARUN PRAKESH
Enroll. No.
0 7 8 113 0 1 7 1 0
Of
B.B.A (General) 3rd Semester

Who carried out the research work under my supervision. Certified further, that to the best of
my knowledge the work reported here in does not form part of any other project report
dissertation on the basis of which a degree or award was confirmed on earlier occasion on
this or any other candidate.

MS. GUNJAN BUDHLANI

(Project guide)

Acknowledgement

I would like to express my gratitude to all those who gave me the possibility to complete this
project. I want to thank my institute Beri Institute of Technology Training and Research for
giving me permission to commence this project in the first instance, to do the necessary
research

work

and

to

use

internet

facility.

have

furthermore

to

thank

Ms. SANMEET KAUR who gave and confirmed this permission and encouraged me to go
ahead with my project.
I am deeply indebted to my seniors and friends whose help, stimulating suggestions and
encouragement helped me in all the time of research for and writing of this project and
correcting and offering suggestions for improvement.
Especially, I would like to give my special thanks to my family whose patient love enabled me
to complete this work.

VARUN PRAKASH
ENROLL. NO. :- 07811301710

OBJECTIVE
The main aim of doing this project is to know about the customer
satisfaction, its importance for any organization. Why customer satisfaction is
important and can an organization run without satisfying their customer. To
know about the services given by the STATE BANK OF INDIA to satisfied
their customers. To know whether the customer of STATE BANK OF INDIA
are satisfied or not, And the level of satisfaction among the customers.

TABLE OF CONTENTS
CONTENTS

SL. NO.

1.

PAGE
NO
1-7

CHAPTER 1: INTRODUCTION
8 - 28

2.

CHAPTER 2: COMPANY PROFILE

29 - 41

3.

CHAPTER 3: REVIEW OF LITRATURE

42-52

4.

CHAPTER 4: RESEARCH METHODOLOGY

53-55

5.

CHAPTER 5: FINDING AND ANALYSIS

56-58

6.

CHAPTER 6: CONCLUSION

CHAPTER 7: SUGGESTIONS
59

8.

BIBLIOGRAPHY

INTRODUCTION
1.1

INTRODUCTION ABOUT THE INSURANCE INDUSTRY

About the banking industry:

Banking in India has its origin as early as the Vedic period. It is believed that the transition from
money lending to banking must have occurred even before Manu, the great Hindu Jurist, who
has devoted a section of his work to deposits and advances and laid down rules relating to rates
of interest. During the Mugal period, the indigenous bankers 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 the agency houses 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 others,
which followed, were the Bank of Hindustan and the Bengal Bank. The Bank of Hindustan is
reported to have continued till 1906 while the other two failed in the meantime. In the first half
of the 19th century the East India Company established three banks; the Bank of Bengal in
1809, the Bank of Bombay in 1840 and the Bank of Madras in 1843. These three banks also
known as Presidency Banks were independent units and functioned well. These three banks
were amalgamated in 1920 and a new bank, the Imperial Bank of India was established on 27th
January 1921. 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 State Bank of India. The
Reserve Bank which is the Central Bank was created in 1935 by passing Reserve Bank of India
Act 1934. In the wake of the Swadeshi Movement, a number of banks with Indian management
were established in the country namely, Punjab National Bank Ltd, Bank of India Ltd, Canara
Bank Ltd, Indian Bank Ltd, the Bank of Baroda Ltd, the Central Bank of India Ltd. On July 19,
1969, 14 major banks of the country were nationalized and in 15th April 1980 six more private
sector commercial banks were also taken over by the government.

Introduction

Banks in India

Banking dates back to 1786, the first In India the banking sector is segregated
bank established in India, then the as

public

or

private

sector

banks,

nationalisation of banks in 1969 and cooperative banks and regional rural

recently the liberalisation of the same banks. Foreign banks have been given a
since 1991.

different head followed by upcoming

foreign banks in this section.

Banking Services in India
Financial and Banking Sector Reforms
Bouquets of services are at customers The last decade experienced a complete
demand in to days banking system. reform in the financial and banking
Different types of accounts and loans, sector. The capital and financial market,
facilitating with plastic money and banking & non-banking organisation and
money transfer across the globe.

financial

instruments

was

redressed

towards development.
Reserve Bank of India (RBI)
IDBI
RBI is the central bank of the country Industrial Development Bank of India
since 1934. It regulates, controls credit, (IDBI) is the tenth largest bank in the
issue licenses and functions as banker of world in terms of development.
all banks and the government.
Easy Banking
Banking Services for NRIs in India
With the advancement of technology, This section discusses upon the services
banking sector has become more easy, provided to the NRIs in India through
fast, accurate and also time saving. different dedicated account. FAQs makes
ATMs, Mobile Banking, SMS Banking the section more comprehensive.
and Net Banking are only the tip of an
ice-berg.
Indian Banks Association (IBA)
The functions of Indian
Association

(IBA),

its

Proxy Banking in India

Banks Only 42% of rural households have bank

organisational accounts. Proxy Banking, a bank through

structure, the addresses and contact Kiosk and ATM challenges to penetrate
details are discussed in this section.

the untouched population in interior

India.

COMPANY PROFILE
ICICI was established by the Government of India in the 1960s as a Financial Institution with
the objective to finance large industrial projects. ICICI was not a bank - it could not take retail
deposits; and nor was it required to comply with Indian banking requirements for liquid
reserves. ICICI borrowed funds from many multilateral agencies (such as the World Bank),
often at concessional rates. These funds were deployed in large corporate loans.
All this changed in 1990s. ICICI founded a separate legal entity - ICICI Bank which undertook
normal banking operations - taking deposits, credit cards, car loans etc. The experiment was so
successful that ICICI merged into ICICI Bank ("reverse merger") in 2002.

At the time of the reverse merger, there were rumors that ICICI had large proportions of Non
Performing Loans ("NPA", as they are known in India) on its books - in particular to the steel
industry. Since 2002, there has been a general revival in Indian industry (and metal based
industry in particular). It is widely believed that the proportion of NP As has come down to
prudent levels (even if it were high earlier).
ICICI Bank now has the largest market share among all banks in retail or consumer financing.
ICICI Bank is the largest issuer of credit cards in India [citation needed]. It was the first bank to
offer a wide network of ATM's and had the largest network of ATM's till 2005, before SBI
caught up with it.
ICICI bank now has the largest market value of all banks in India, and is widely seen as a
sophisticated bank able to take on many global banks in the Indian market.
The bank is expanding in overseas markets. It has operations in the UK, Hong Kong, Singapore
and Canada. It acquired a small bank in Russia recently. It has tie-ups with major banks in the
US and China. The bank is aggressively targeting the NRI (Non Resident Indian) population for
expanding its business.

ICICI Bank (formerly Industrial Credit and Investment Corporation of India). ICICI
Limited, was established in 1955 by the World Bank, the Government of
India and the Indian Industry, for the promotion of industrial development in India by giving
project and corporate finance to the industries in India.
ICICI Bank has grown from a development bank to a financial conglomerate and has become
one of the largest public financial institutions in India. ICICI Bank has financed all the major
sectors of the economy, covering 6,848 companies and 16,851 projects. As of March 31, 2000,
ICICI had disbursed a total of Rs.1,13,070 crores, since inception.

ICICI BANK FACT FILES

Total assets: Rs.146,214 crore (December 31, 2004)
Network: 530 branches
ATMs: Over 1,880

Abroad Subsidiaries: United Kingdom and Canada

Abroad branches: Singapore and Bahrain
Representative offices: United States, China, United Arab Emirates, and Bangladesh And South
Africa.
ICICI Bank is India's second-largest bank with total assets of about Rs. 2,513.89 bn (US$ 56.3
bn) at March 31, 2006 and profit after tax of Rs. 25.40 bn (US$ 569 mn) for the year ended
March 31, 2006 (Rs. 20.05 bn (US$ 449 mn) for the year ended March 31, 2005). ICICI Bank
has a network of about 614 branches and extension counters and over 2,200 ATMs. ICICI Bank
offers a wide range of banking products and financial services to corporate and retail customers
through a variety of delivery channels and through its specialized subsidiaries and affiliates in
the areas of investment banking, life and non-life insurance, venture capital and asset
management. ICICI Bank set up its international banking group in fiscal 2002 to cater to the
cross border needs of clients and leverage on its domestic banking strengths to offer products
internationally.
ICICI Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in
Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai International Finance Center and
representative offices in the United States, United Arab Emirates, China, South Africa and
Bangladesh. Our UK subsidiary has established a branch in Belgium. ICICI Bank is the most
valuable bank in India in terms of market capitalization.
ICICI Bank's equity shares are listed in India on the 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).
ICICI Bank has formulated a Code of Business Conduct and Ethics for its Directors and
employees.
At June 5, 2006, ICICI Bank, with free float market capitalization* of about Rs. 480.00 billion
(US$ 10.8 billion) ranked third amongst all the companies listed on the Indian stock exchanges.
ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial Institution,
and was its wholly owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46%
through a public offering of shares in India in fiscal 1998, an equity offering in the form of
ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited
in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to

institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative
of The World Bank, the Government of India and representatives of Indian industry.
The principal objective was to create a development financial institution for Providing mediumterm and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its
business from a development financial institution offering only project finance to a diversified
financial service group offering a wide variety of products and services, both directly and
through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first
Indian company and the first bank or financial institution from non-Japan Asia to be listed on
the NYSE.
After consideration of various corporate structuring alternatives in the context of the emerging
competitive scenario in the Indian banking industry, and the move towards universal banking,
the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with
ICICI Bank would be the optimal strategic alternative for both entities, and would create the
optimal legal structure for the ICICI group's universal banking strategy. The merger would
enhance value for ICICI shareholders through the merged entity's access to low-cost deposits,
greater opportunities for earning fee-based income and the ability to Participate in the payments
system and provide transaction-banking services. The merger would enhance value for ICICI
Bank shareholders through a large capital base and scale of operations, seamless access to
ICICI's strong corporate relationships built up over five decades, entry into new business
segments, higher market share in various business segments, particularly fee-based services, and
access to the vast talent pool of ICICI and its subsidiaries. In
October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI
and two of its wholly owned retail finance subsidiaries, ICICI Personal Financial Services
Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by
shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at
Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve
Bank of India in April 2002. Consequent to the merger, the ICICI group's financing and banking
Operations, both wholesale and retail, have been integrated in a single entity.
*Free float holding excludes all promoter holdings, strategic investments and Cross holdings
among

public sector entities.

EMPLOYEES WORKING IN ICICI BANK

Partner in Charge
Account Executive
IT Department

Associate Partner
Customer Service

Agency Co.

Sales Manager

Assistant Sales
Manager

DEGNIATION

NO.OF

Partner in Charge
Account Executive
Associate Partner
Agency Co.
IT Department
Customer Service
Training Manager
Sales Manager
Assistant Sales

EMPLAYEE
1
1
2
2
1
1
2
10
5

Manager
TOTAL

26

Training Manager

ICICI GROUP

ICICI VENTURE
ICICI Venture is the largest and one of the most successful private equity and Venture capital
management companies in India with aggregate funds under Management in excess of USD 2
billion. ICICI Venture is a subsidiary of ICICI Bank, Indias second-largest bank with total
assets of about US$ 56.3 bn (March 31, 2006) and market capitalization of about USD 10.8 bn
(June 2006).
Over the years, ICICI Venture has built an enviable portfolio of companies in the sectors of
information technology, pharmaceuticals, biotechnology, media and retail thereby delivering
value consistently to its investors.
ICICI Venture has the distinction of managing a large number of exits in the Country. With over
100 liquidity events, the organization has reaped rich Experience and is well positioned to
handle IPOs, strategic sale and/or mergers.
ICICI Venture has a wide network of third party investors, which include Domestic investors
such as public sector banks, financial institutions and Insurance companies. A significant

portion of the funds corpus is also from International development financial institutions and
international funds.
The company has over 40 qualified professionals with experience across sectors and functions.
The capabilities of the team, structure of the organization, Emphasis on value creation and
performance evaluation matrices enable ICICI Venture to extract superior returns from its
investments.

ICICI SECURITIES INDIAS LEADING INVESTMENT BANK

ICICI Securities Limited is Indias leading full service investment bank with a Dominant
position in all segments of its operations - Corporate Finance, Fixed Income and Equities. It is a
subsidiary of ICICI Bank, the largest private sector bank in India and operates out of Mumbai
with offices in New Delhi, Chennai, Kolkata, New York, London and Singapore. Under the able
leadership of Mr.S Mukherji, Managing Director and CEO, ICICI Securities continues to grow
as reflected in its performance over the past couple of years.
The Corporate Finance team has consistently been among the top players in M&As and fund
raising from domestic and international capital markets. The Equities team is a major Indian
brokerage house and its research covers over 90% of Sensex market capitalization. The bond
research of the Fixed Income team is a benchmark for the industry.
The eminent position of ICICI Securities is reflected in the number of awards that our teams in
the Fixed Income, M&A and Equity Capital Markets win. Our Fixed Income team for the last
two years (CY04 and CY05) has been adjudged as the Best Bond House in India by both Asia
money and Finance Asia. The Equities team was adjudged as the Best Indian Brokerage House2003 by Asia money. The Corporate Finance team tops the M&A/Capital markets league tables
regularly. Our wholly owned subsidiary, ICICI Brokerage Services Limited (IBSL), buys and
sells equities for our institutional clients. ICICI Securities has a U.S. subsidiary, ICICI
Securities Inc., which is a member of the National Association of Securities Dealers, Inc.
(NASD). As a result of this membership, ICICI Securities Inc. can engage in permitted activities
in the U.S. securities markets.
These activities include dealing in securities markets transactions in the United States and
providing research and investment advice to US investors.
ICICI Securities Inc. is also registered with the Financial Services Authority, UK (FSA) and the
Monetary Authority of Singapore (MAS) to carry out Corporate Advisory Services

PRUDENTIAL ICICI

Prudential ICICI Asset Management Company enjoys the strong parentage of Prudential plc,
one of UK's largest players in the insurance & fund management sectors and ICICI Bank, a
well-known and trusted name in financial services in India. Prudential ICICI Asset Management
Company, in a span of just over eight years, has forged a position of pre-eminence in the Indian
Mutual Fund industry as one of the largest asset management companies in the country with
assets under management of Rs. 23559.60 crores (as of March 31, 2006). The Company
manages a comprehensive range of schemes to meet the varying investment needs of its
investors spread across 68 cities in the country.

PRUDENTIAL LIFE INSURANCE

India's Number One private life insurer, ICICI Prudential Life Insurance Company is a joint
venture between ICICI Bank-one of India's foremost financial services companies-and
Prudential plc- a leading international financial services group headquartered in the United
Kingdom. Total capital infusion stands at Rs. 15.85 billion, with ICICI Bank holding a stake of
74% and Prudential plc holding 26%.
We began our operations in December 2000 after receiving approval from Insurance Regulatory
Development Authority (IRDA). Today, our nation-wide team comprises nearly 120,000
insurance advisors, 18 banc assurance partners and 200 corporate agent tie-ups.
ICICI Prudential was the first life insurer in India to receive a National Insurer Financial
Strength rating of AAA (Ind) from Fitch ratings. For three years in a row, ICICI Prudential has
been voted as India's Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen
ORG Marg survey of 'Most Trusted Brands'. As we grow our distribution, product range and
customer base, we continue to tirelessly uphold our commitment to deliver world-class financial
solutions to customers all over India.

ICICI LOMBARD
ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between ICICI
Bank Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited. ICICI Bank is
India's second largest bank, while Fairfax Financial Holdings is a diversified financial corporate
engaged in general insurance, reinsurance, insurance claims management and investment
management. Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited, is
one of Canada's oldest property and casualty insurers. ICICI Lombard General Insurance
Company received regulatory approvals to commence general insurance business in August
2001.

SERVICES PROVIDED BY ICICI BANK

ICICI Bank offers wide variety of Deposit Products to suit your requirements. Coupled
with convenience of networked branches/ ATMs and facility of E-channels like Internet
and Mobile Banking, ICICI Bank brings banking at your doorstep. Select any of our
deposit products and provide your details online and our representative will contact you
for Account Opening.

SAVING ACCOUNTS

ICICI Bank offers you a power packed Savings Account with a

host of convenient features and banking channels to transact through. So now you can
bank at your convenience, without the stress of waiting in queues

SENIOR CITIZEN SERVICES

We understand that as you reach the age to retire, you do have certain concerns whether
your hard earned money is safe and secure whether your investments give you the
kind of returns that you need. That's why we have an ideal Banking Service for those
who are 60 years and above. The Senior Citizen Services from ICICI Bank has several
advantages that are tailored to bring more convenience and enjoyment in your life.

YOUNG STARS

It's really important to help children learn the value of finances

and money management at an early age. Banking is a serious business, but we make
banking a pleasure and at the same time children learn how to manage their personal
finances.

FIXED DEPOSITS

Safety, Flexibility, Liquidity and Returns!!!! A combination of

unbeatable features of the Fixed Deposit from ICICI Bank

RECURRING DEPOSITS

When expenses are high, you may not have adequate funds to make big investments. But
simply going ahead without saving for the future is not an option for you. Through ICICI
Bank Recurring Deposit you can invest small amounts of money every month that ends
up with a large saving on maturity. So you enjoy twin advantages- affordability and
higher earnings

LOANS
ICICI Bank offers wide variety of Loans Products to suit your requirements. Coupled
with convenience of networked branches/ ATMs and facility of E-channels like Internet
and Mobile Banking, ICICI Bank brings banking at your doorstep. Select any of our
loan product and provide your details online and our representative will contact you for
getting loans

HOME LOAN

The No. 1 Home Loans Provider in the country, ICICI Bank Home Loans offers some
unbeatable benefits to its customers - Doorstep Service, Simplified Documentation and
Guidance throughout the Process. It's really easy!

PERSONAL LOANS

 If you're looking for a personal loan that's easy to get, your search ends here. ICICI Bank
Personal Loans are easy to get and absolutely hassle free. With minimum documentation
you can now secure a loan for an amount up to Rs. 15 lakhs

CAR LOANS

The NO 1 financier for car loans in the country. Network of more

than 1500 channel partners in over 780 locations. Tie-ups with all leading automobile
manufacturers to ensure the best deals. Flexible schemes & quick processing.

COMMERCIAL VEHICLE LOANS

Range of services on existing loans & extended products like funding of new vehicles,
refinance on used vehicles, balance transfer on high cost loans, top up on existing loans,
Extend product, working capital loans & other banking products

TWO WHEELER LOANS

 Avail attractive schemes at competitive interest rates from the No 1 Financier for Two
Wheeler Loans in the country. Finance facility up to 90% of the On Road Cost of the
vehicle, repayable in convenient repayment options and comfortable tenors from 6 months
to 36 months. Ride home on your Dream Two Wheeler with our hassle free finance.

FARM EQUIPMENT LOANS

Preferred financier for almost all leading tractor manufacturers in the

country. Flexible repayment options in tandem with the farmer's seasonal liquidity. Monthly,
Quarterly and Half-yearly repayment patterns to choose from. Comfortable repayment
tenures from 1 year to 9 year

CARDS
ICICI Bank offers a variety of cards to suit your different transactional needs. Our
range includes Credit Cards, Debit Cards and Prepaid cards. These cards offer
you convenience for your financial transactions like cash withdrawal, shopping
and travel. These cards are widely accepted both in India and abroad. Read on for
details and features of each.

CREDIT CARDS

ICICI Bank Credit Cards give you the facility of cash, convenience and a range of
benefits, anywhere in the world. These benefits range from life time free cards,

Insurance benefits, global emergency assistance service, discounts, utility payments,

travel discounts and much more.

DEBIT CARDS

The ICICI Bank Debit Card is a revolutionary form of cash that

allows customers to access their bank account around the clock, around the world.
The ICICI Bank Debit Card can be used for shopping at more than 100,000
merchants in India and 13 million merchants worldwide.

TRAVEL CARD

Presenting ICICI Bank Travel Card. The Hassle Free Way to Travel the world. Traveling
with US Dollar, Euro, Pound Sterling or Swiss Francs; Looking for security and
convenience; take ICICI Bank Travel Card. Issued in duplicate. Offers the Pin based
security. Has the convenience of usage of Credit or Debit card.

COMPETITORS
Major Competitors
1. PNB
2. Canara Bank
3. State Bank of India

 Punjab National Bank

Punjab National Bank (PNB) is one of India's largest nationalized banks, with some 4,500
locations. The financial institution offers services in personal and corporate banking, including
industrial, agricultural, and export finance, as well as international banking. Its personal lending
services include loans for housing, autos, and education. PNB's diverse client list includes
Indian conglomerates, small and mid-sized businesses, non-resident Indians, and multinational
companies. The bank was established in Lahore in 1895 -- before the country was partitioned
into India and Pakistan in 1947.

Canara Bank
Canara Bank has a can-do attitude about banking in India. One of India's largest banks, Canara
Bank (also known as CanBank) has a network of more than 2,500 branches throughout India
and branches in Hong Kong and London. All of Canara Bank's branches -- including those
located in rural areas -- are computerized, in a country where it is not a given that banks can
make such a claim. (The bank considers 30% of its branches to be located in rural areas.) The
modernization of all branches allows the bank to offer its customers networked ATMs,
telebanking, internet banking, and debit card services. Other services include asset management
and factoring. The financial institution is 73% owned by India's government.

State Bank of India

State Bank of India is the nation's largest bank. Tracing its roots back some 200 years to the
British East India Company (and initially established as the Bank of Calcutta in 1806), the bank
operates more than 14,000 branches within India, where it also owns majority stakes in seven
associate banks. State Bank of India has more than 50 offices in nearly 35 other countries,
including multiple locations in the US, Canada, and Nigeria. The bank has other units devoted
to capital markets, fund management, factoring and commercial services, and brokerage
services. The Reserve Bank of India owns about 60% of State Bank of India.

SWOT ANALYSIS
Strength

 Good for new investor as the fund has to be managed by specialized fund manager.
Only product which invests in money market, debt market and equity market at same
time.
Investment needed is comparatively less than other investments.
During the stack market boom periods all ICICI bank funds have performed fairly well
thereby increasing investors expectations.

Weakness
Customers do not prefer it because of risk attached to it that is market risk.
Fund manager if makes a wrong prediction then customer will bear the brunt therefore it
depends on funds managers analysis.
Sometimes the age factor affects the investment preference of the investors.
People are afraid of investing in the equity market.

Opportunities
Creating positive image about the fund and changing the nature of the market itself.
Market of mutual fund is expanding as many foreign companies are coming in this.
Great scope of new investment due to the budget announcement this year.
The objective of investing in ICICI bank is Tax-saving apart form returns third main
objective is growth.

Threats

 Now there are many other investment instruments which are more lucrative than ICICI
bank. (real estate , gold)
Unawareness among investors regarding ICICI bank. Also in India most of the people
lack of awareness about ICICI bank. They dont know anything about what is ICICI
bank, how it works. How fund managers invest peoples money in different portfolios
and provide the better returns to the customers
Lack of promotions, advertising by ICICI bank industry

REVIEW OF LITERATURE
CUSTOMER SERVICE AND SATISFACTION
We must cultivate our garden. Voltair
When we talk about customer service and/or satisfaction, we talk about creativity. Creativity
allows us to handle or diffuse problems at hand or later on rather in the process of conducting
the everyday business. We talk about how, or what, does the organization have to do to gain not
only the sale but also the loyalty of the customer. We want to know the payoff of the transaction
both in the short and long term. We want to know what our customers Want? We want to know
if our customers are satisfied? Satisfaction, Of course, means that what we delivered to a
customer met the customers Approval. We want to know if customers are delighted and willing
to come
Back, and so on. Fleiss 2 and Feldman 3 present examples of that delightfulness in their
writings. Fleiss has written about Ben and Jerrys ice cream and Feldman has discussed
excellence in a cab ride. As important as delightfulness is, some of us minimize it, or even
totally disregard it. At this point, we fail. Some of the issues that will guarantee failure in sales,
satisfaction, and loyalty are:

Employees must adhere to a rigid chain of command

Employees are closely supervised
Conflictin whatever formis not allowed
Rewards are based on carrot-and-stick principles
Wrong objectives are measure.
We must understand customer expectation levels concerning quality. We must also understand
the strategy for customer service quality, and next we must understand the measurement and
feedback cycles of Customer satisfaction.
The customer is the person or unit receiving the output of a process on the system. In fact, it is
worth emphasizing that a customer can be the immediate, intermediate, or ultimate customer.
Also, a customer may be a person or persons, or a process or processes. Customer satisfaction,
however, is when the customer is satisfied with a product/service that meets the customers
needs, wants, and expectations.

There are at least three levels of customer expectations about quality:

Level 1. Expectations are very simple and take the form of assumptions, must have, or take it
for granted. For example, I expect the airline to be able to take off, fly to my destination, and
land safely. I expect to get the correct blood for my blood transfusion and I expect the bank to
deposit my money to my account and to keep a correct tally for me.
Level 2. Expectations are a step higher than that of level 1 and they require some form of
satisfaction through meeting the requirements and/or specifications. For example, I expect to be
treated courteously by all airline personnel. I went to the hospital expecting to have my hernia
repaired, to be in some pain after it was done, to be out on the same day, and to receive a correct
bill. And I went to the bank expecting the bank teller to be friendly, informative, and helpful
with my transactions.
Level 3. Expectations are much higher than for levels 1 and 2. Level 3 requires some kind of
delightfulness or a service that is so good that it attracts me to it. For example, an airline gives
passengers traveling coach class the same superior food service that other airlines provide only
for first-class passengers. In fact, I once took a flight where the flight attendants actually baked
cookies for us right there on the plane. When I went to the hospital, I expected staff to treat me
with respect and they carefully explained things to me. But I was surprised when they called me
at home the next day to find out how I was doing. And at my house closing, the bank officer,
representing the bank holding my mortgage, not only treated me with respect and answered all
my questions about my new mortgage, but just before we shook hands to close the deal, he gave
me a housewarming gift.

CUSTOMER SATISFACTION SURVEYS HELP TO:

1. Improve customer, client, or employee loyalty.
2. React quickly to changes in the market.
3. Identify and capitalize on opportunities.
4. Beat the competition.
5. Retain or gain market share.
6. Increase revenue.
7. Reduce costs.

RESEARCH METHODOLOGY

DATA SOURCES
During preparation of the Project Report many different kinds Of Data were Required which
Included both Primary and Secondary Sources.
Primary Sources
Questionnaire - A sample questionnaire was provided to around 50 different people which was
used to Derive Results and Analyze customer needs for Insurance and ho far they have been
satisfied with the Services and Returns Provided by ICICI prudential as well as other companies
.
A sample of the questionnaire along with Results from Findings and Analysis are given Later in
the Project
Secondary Sources
Journals Various Journals published by B-Schools as well as Business houses have provided
vital statistical as well as Theoretical Data which have been very helpful
Newspapers and Magazines Economic Times as Well as Magazines such as Business Today
have provided useful Information on Developing Indian Insurance Sector as well as how the
trend and demand of customers has changed over a period of time .
Internet and Other Media Sources WWW has the latest data and interviews which helped me
in determining the scope pf my project as well as make it as up to date as possible.

QUESTIONNAIRE DESIGN / FORMULATION

Questionnaires: - A questionnaire consists of a set of questions presented to respondent for

their answers.
Close Ended: - Pre-specify all the possible answers & are easy to Interpret and Tabulate.
TYPES OF QUESTIONS USED IN THIS PROJECT:
Close ended Questions
To know the choice of the people regarding various matters
Dichotomous Questions
Which has only two answers Yes or No.
Multiple Choice Questions
Where respondent is offered more than two choices. This is done to know the choice of
the customers regarding different matters.

SAMPLE DESIGN
Sampling Unit: - The marketing researcher must define the target population that will be
sampled.

Sample Size/ Population Size: - I have cover entire Delhi city for the survey.
Sample size Sample size of 150 was used for questionnaires out of which everyone
responded.
Time Frame It is the period of time for which the survey or study is to be done.
I have done survey for 8 weeks.

Sampling Technique Used

Since the information required was not of a very technical nature and also looking at the scope
of the project and the extent of the target segment, the sampling technique employed was
Convenience Sampling. I administered the questionnaires.

DATA ANALYSIS AND INTERPRETATION

AGE GROUP

INTERPRETATION: If we closely look at the pie-chart, we can say that the people
between the age group of 25 to 55 are the main customer of the bank, which contributes
almost 75% of the banks customers. But the old age and the young people have been less
attractive on this leading product of ICICI Bank, which is a matter of concern. So more
focus should be given to them as they have the huge

OCCUPATION

POTENTIAL. OCCUPATION
INTERPRETATION: This pie chart clearly shows that service holder and the business
people are the main customer of the bank. Reason for this could be as per interviewed was
working hour and anywhere banking which suits them. 8 to 8 banking give them the
freedom to do banking work after the office. Students contribution is less as student
account is not available in Patna and 5000 as minimum balance is not possible for them.
Other section should be increased by creating awareness about the banking products

ANNUAL INCOME

INTERPRETATION: Higher income or we can say that more than 34 LAKHS earning
people are contributing 70% of the transactions. But it is advisable to penetrate more in
the lower income group not only in terms of accounts but also in other banking products
because they contribute a major part of the society. Target should be on that every section
of the society should open saving account or other account in ICICI Bank.

DO YOU EXPECT FROM A BANK WHILE OPENING AN ACCOUNT

INTERPRETATION: When a customer visits a bank the first and foremost thing he
looks, that how quickly he is served, how his problem is entertained by the bank employee
and what is the working hour of the bank. Thats why these three things contribute the
maximum of this pie chart. Less formalities and variety of products although contributes
less but it has a major impact on the customer. So bank should follow on these things also.
Service sector like banking, preference should be given to make.

WHICH OF THE FOLLOWING ATTRIBUTES COMPELLED YOU MOST TO

OPEN SAVING ACCOUNT IN ICICI BANK

 INTERPRETATION: As we found in our finding that majority of the people like the
saving account, this chart reveals that what are the factor and their contribution making
their product really leading product of ICICI Bank. VALUE ADDED SAVING
ACCOUNT is undoable a unique sub product of ICICI Bank. Since it has the appeal
catch maximum customer as it provides the facility of FIXED deposit in saving account
ATM cum debit card is also a major attributes as it made the banking easy. Personalized
chequebook is also a major attraction in this section. As far as other factors are concern
they are showing less appearance in this chart.

WHAT TYPE OF ACCOUNT DO YOU HAVE IN ICICI BANK?

INTERPRETATION: Saving account is the leading and attractive product for the ICICI

Bank as it has occupied a major chunk in this chart. This number and percentage clearly
shows that this product has all the quality to give the customer best services and ability to
satisfy them. On the second and third position current and fixed deposit has also been
helpful to increase the customer base but still their performance needs to be improved. As
far as NRI and other accounts are concerned they have less appearance. So majority of the
business is moving around few leading products. Reason could be either people are not
aware about the various products of the bank or bank has limited range of products. So
bank must ascertain that where things are going wrong and for that what sort of necessary
step could be taken.

WHICH FACTOR AMONG THE FOLLOWING INFLUENCED YOU MOST TO

OPEN AN ACCOUNT IN ICICI BANK?

INFLUENCED FACTOR
PROSPECT
US
11%
BANK
EMPLOYEE
12%
ADVERTISE
MENT
33%

FRIENDS /
RELATIVE
44%

FRIENDS /
RELATIVE
ADVERTISEMENT
BANK EMPLOYEE
PROSPECTUS

INTERPRETATION: It has been said a satisfied customer is the best medium for an
advertisement since in this chart friend / relative have played a key role in opening the
accounts of others. Which implies that banks real customers are satisfied enough with
facilities available on the products and services enjoyed by them. On the other hand
advertisement also plays a vital role in influencing the customer. As their behavior not
only please the customer but also attract the customer. Well maintained prospectus is also
a major attributes of attracting the customer. Main focus of the bank should be no
satisfaction of customer.

IN COMPARISION TO OTHER BANKS HOW WOULD YOU RATE ICICI

BANK?

INTERPRETATION: Comparison with other banks depends on its overall performance

in the eyes of the people. In this chart it is clearly showing that 74% of the people are
satisfied with ICICI Bank. In a short span of time of its existence in this city with strong
competition from major public sector bank like SBI and other private players bank has
done well it has occupied a different position in the peoples mind.

WOULD YOU RECOMMEND ICICI BANK TO OTHERS?

INTERPRETATION: As per the chart we show that 5% of the people dont want to
recommend ICICI Bank to others. Bank must find the reason of their dissatisfaction
because in this competitive world we have to achieve this target.

Are you interested in products offered by the ICICI PRUDENTIAL ?

Yes

61%

No

22%

Will think

17%

17%

22%

61%

Yes
No
Will think

INTERPRETATION
The good thing is that atleast the corporates were quite eager to find out what
ICICI PRU has to offer whereas the major 39 % of the corporates were not even
interested in the products as they are quite satisfied by the LIC and they are not in
breaking their long relationship with them. The private players will have to play a
long battle in order to ensure that they are serious player in the market.

Are you satisfied with your present insurer?

YES

95%

No

5%

95%

5% 5%

Yes
No

INTERPRETATION
Here is where the challenge is. Inevitably most of the players are very satisfied
with their present insurer which makes it more tough for the private players to
attract the corporates. The remaining 5 % are also not very dissatisfied by the
services but they are just open to new avenues and are looking forward that
private companies come with good offers so that they may shift to them. Thus
private players will have to be very proactive and in this regard since LIC is the
leader and ICICI PRU is lagging behind its competitors in terms of competition.

Where would you like to insure if given chance?

LIC

60

ICICI

15

BAJAJ ALLIANZ

HDFC

10

SBI

KOTAK MAHINDRA

70

60

60
50
40
30

15

20

10
5

10
0

LIC

SBI

HDFC

ICICI

BAJAJ

KO TAK
MAHINDRA

INTERPRETATION
Thus we see that the companies are comfortable in having business with govt.
owned companies as they feel its safe & secure to have business with them which
is followed by SBI as it is the biggest bank and then followed by

What is peoples main concern while taking a insurance policy?

A) Security

70%

B) Returns

10%

C) Tax rebate

20%

INTERPRETATION:
People invest in insurance mainly because of security concern.

INTERPRETATION:
30% people are highly satisfied,
40% satisfied,
15%are moderate,
5% are unsatisfied
10%are highly unsatisfied.

INTERPRETATION:

50%people are satisfied with investment pattern,

30% are satisfied with more returns and
Only 20% people expect complimentary gifts.

FINDINGS

More than a bank you need a trusted partner- is the core principle on which
Private Banking at ICICI Bank is structured.

Though products have been added and modified in the past but the motto has not
changed which is to grow and develop relationship with top end client age and generate
returns for the bank.

Private banking at ICICI Bank has been a great success lately thanks to their
expertise in financial advisory, skilled team of Relationship Managers and being
proactive in approach right from the beginning.

The analysis of the research shows that around two-third of their client age are
banking with them from more than two years which is commendable in terms of client
retention. Also for nearly all of their clients ICICI Private banking is the only solution
provider. From a high net worth individual aspect the private banking is truly a brilliant
experience to be recognized and treated as a priority customer.

To sum up ICICI is going great guns with its Private Banking division but this
business model is still at its growing stage of life cycle in India and there is still a lot
more to be achieved by everyone involved with this.

SUGGESTIONS

Since the customer and his needs remain in focus in banking, it would be appropriate to
have a view of the customers banking needs which include financial security,
convenience, quick service, personalized service, investment counseling, return of
investment, support by way of credit prestige, wide range of service, etc. and to be the
best on these aspects ICICI Bank has and is trying its best, and has been successful too,
but still there is some scope for improvement, which I observed during my training in
this bank.

Nowadays, customers are more service driven than product driven and are not
homogeneous in their behavioral pattern, attitude, needs and expectations. Therefore, a
through understanding of the customer is a pre requisite to offer him satisfaction through
providing services. ICICI Bank should also focus on to have the provision to make some
changes in its core products on the basis of region, purchasing power of the people etc.
because customers want that their special case must be considered, for that branches
need to be empowered. In other word it can be said bank should alter its existing service
to satisfy the customer needs, as and when it is needed in special cases. Bank should
begin a clear understanding of the entire customer base in particular, of those customers
are the most profitable.

Pricing is in fact a very critical and sensitive issue while launching any product or
inducing more features in existing product in such a highly competitive market of
banking before the management of any bank. Because, price driven competition is one
of the significant emerging trend in bank marketing. ICICI Bank should also be very
careful while reconsidering the price of any core and leading product by closing
understanding the behaviour up to what extent customers are in the position to tolerate
it, since customers price sensitivity is not same across product categories.

Price of any product is kept same across the country but for the some places is always
not correct, like New Delhi where delta increase in the price of any product matters for
the customers. As it has been seen in the case of increase in charges of QAB of savings
account that resulted in many closures of the account.

The reaction of this increment in the charges from the customer was aggressive. So bank
must price any product by keeping the view of region factor too-where people needs,
attitude and purchasing power must be closely understood by the management of the

bank. For this, branches also needs to be empowered to the some extent-where they can
make necessary changes in the price of some selected core products, as they have better
understanding of the behaviour of their customers than the policy makers of the bank.
There should be effective publicity of new products of new products and relaunching of
existing one too. Monitoring and customer feedback of all the new and old products
should be one regular basis.

Bank should provide effective publicity of new product launched and educate the
customer to go in for these products by highlighting the advantages of the products.
Because if banks aim is to provide service matching the best in the banking industry so
that it can get the most effective publicity, especially through word of mouth for this at
the same it is inevitable to educate the customer about banks product and facilities
available on it.

As the products and services of the ICICI Bank are almost technology oriented where
most advanced softwares are used and most of the banking work are executed on
computer through Internet. In such situation where more technicalities is involved in
both products and services there is a need to educate the customers so that they can
easily use and avail all the facilities available on all the product.

During my training, I observed that many customers, not to ask about Internet banking,
Phone Banking even dont know how to use ATM, which is really a area of concern.
Customers do not know the complete rules and regulations and procedures of banks and
bankers preserve them for themselves and do not take interest in educating the
customers because if you are giving a product in the hands of the customers keeping the
view to serve them better, it is equally important to aware not only about the facilities
that are available on any product but also how to use them.

Until and unless this thing is practices as a campaign, it would be difficult to retain
existing customers as it is said retaining the existing customers is less expensive than
creating new one. For this bank need to educate the customer from the grass root of
banking.

QUESTIONNAIRE
Dear Sir / Madam, I am conducting a survey on ICICI. I shall be very thankful to you to give your few
minutes to me for answering my few questions below.
Name

Address

Q1)

Which age group of customers have the maximum contribution

(a) 20-30
(b) 30-40
(c) 40-50
(d) Above 50

Q2)

What is your occupation

(a) Service
(b) Business
(c) Student
(d) Others

Q3)

What is your annual income

(a) Less than 1 lakh
(b) 1-2 lakh
(c) 3-4 lakh
(d) more than 4 lakhs

Q4)

What do you expect from a bank while opening an Account

(a) Quick Service
(b) Proper Information
(c) Working Hour
(d) Less Formalities
(e) Variety of Products

Q5)

Which of the following attributes compelled you most to open saving account in STATE
BANK OF INDIA
(a) ATM Cum Debit Card
(b) Value Added Saving Account
(c) Cheque Book
(d) Phone / Internet Banking

Q6)

What type of account do you have in STATE BANK OF INDIA

(a) Saving Account
(b) Current Account
(c) Fixed Account
(d) NRI
(e) Other

Q7)

Which factor among the following influenced you most to open an account in STATE
BANK OF INDIA?
(a) Friends / Relative
(b) Advertisement
(c) Bank Employees
(d) Prospectus

Q8)

In comparison to other banks how would you rate STATE BANK OF INDIA ?
(a) Excellent
(b) Good
(c) Average
(d) Poor
(e) Can't Say

Q9)

Would you recommend STATE BANK OF INDIA to others?

(a) YES
(b) NO

Q10) Are you interested in products offered by the STATE BANK OF INDIA ?
(a) YES
(b) NO
(c) Will Think

Q11) Are you satisfied with your present insurer?

(a) YES
(b) NO

Q12) Where would you like to insure if given chance?

(a) LIC
(b) ICICI
(c) Bajaj Allianz
(d) HDFC
(e) SBI
(f) Kotak Mahindra

Q13) What is people's main concern while taking a insurance policy

(a) Security
(b) Returns
(c) Tax Rebate

Q14) Are you satisfied with the incentives associated with your policy?
(a) Highly Satisfied
(b) Satisfied
(c) Moderate

(d) Unsatisfied
(e) Highly Satisfied

Q15) What other plans or flexibility you expect from Insurance Companies?
(a) More returns
(b) Complementary gifts
(c) Investment Patterns

BIBLIOGRAPHY
BOOKS :

C. R Kothari ,Research Methodology, Methods & Techiques ,2nd Edition , 2005 , NEW
AGE INTERNATIONAL PVT.. LTD.

S. Basu , "Investment Performance Of Common Stocks In Relation To Their Price

Earning Ratios : A Test Of The Efficient Market Hypothesis " , Journal Of Finance, June
1977.

Steinherr, A. (1998), Derivatives: The wild beast of finance, John Wiley and Sons.

WEBSITES :

www.sbi.com

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