Marketing strategy of icici bank free essay sample

A banker or bank is a financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money. It is an institution for receiving, keeping, and lending money. It is often described as a credit institution. .On deposits, the bank pays interest and for lending money, it charges a higher rate of interest. It performs a large variety of functions in the modern society. Acc. to Banking Regulation Act of India, â€Å"Banking means the accepting, for the purpose of lending or investment of deposits of money from the public repayable on demand or otherwise, and withdrawal by cheque, draft, order or otherwise. † Acc. to R. P. KENT, â€Å"An organization whose principal operations are concerned with the accumulation of the temporarily idle money of the general public for the purpose of advancing to others for expenditure. † Banking In India A Brief Overview Banking in India originated in the last decades of the 18th century. The oldest bank in existence in India is the State Bank of India, a government-owned bank that traces its origins back to June 1806 and that is the largest commercial bank in the country. Central banking is the responsibility of the Reserve Bank of India, which in 1935 formally took over these responsibilities from the then Imperial Bank of India, relegating it to commercial banking functions. After Indias independence in 1947, the Reserve Bank was nationalized and given broader powers. In 1969 the government nationalized the 14 largest commercial banks; the government nationalized the six next largest in 1980. Currently, India has 88 scheduled commercial banks (SCBs) 27 public sector banks (that is with the Government of India holding a stake), 31 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 38 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18. 2% and 6. 5% respectively. The Indian banking has come from a long way from being a sleepy business institution to a highly proactive and dynamic entity. This transformation has been largely brought about by the large dose of liberalization and economic reforms that allowed banks to explore new business opportunities rather than generating revenues from conventional streams (i. e. borrowing and lending). The banking in India is highly fragmented with 30 banking units contributing to almost 50% of deposits and 60% of advances. Indian nationalized banks (banks owned by the government) continue to be the major lenders in the economy due to their sheer size and penetrative networks which assures them high deposit mobilization. The Indian banking can be broadly categorized into nationalized, private banks and specialized banking institutions. The Reserve Bank of India acts as a centralized body monitoring any discrepancies and shortcoming in the system. It is the foremost monitoring body in the Indian financial sector. The nationalized banks (i. e. government owned banks) continue to dominate the Indian banking arena. Industry estimates indicate that out of 274 commercial banks operating in India, 223 banks are in the public sector and 51 are in the private sector. The private sector bank grid also includes 24 foreign banks that have started their operations here. Under the ambit of the nationalized banks come the specialized banking institutions. These co-operatives, rural banks focus on areas of agriculture, rural development etc. , unlike commercial banks these co-operative banks do not lend on the basis of a prime lending rate. They also have various tax sops because of their holding pattern and lending structure and hence have lower overheads. This enables them to give a marginally higher percentage on savings deposits. Many of these cooperative banks diversified into specialized areas (catering to the vast retail audience) like car finance, housing loans, truck finance etc. in order to keep pace with their public sector and private counterparts, the co-operative banks too have invested heavily in information high-end computerized banking technology to offer services toils NATIONALISATION OF BANKS The next significant milestone in Indian Banking happened in the late 1960s when the then Indira Gandhi government nationalized, on 19th July, 1969, 14 major commercial Indian banks, followed by nationalization of 6 more commercial Indian banks in 1980. Some prominent private banks such as Central Bank owned by Tatas, United Commercial Bank by Birlas, Syndicate Bank by Pais become nationalized. Only State Bonk of India had been nationalized in July 1955 under the SBI Act of 1955. The stated reason for the nationalization was more control of credit delivery. After this, until the 1990s, the nationalized banks grew at a leisurely pace of around 4%-also called as the Hindu growth of the Indian economy. Liberalization In the early 1990s the then Narasimha Rao government embarked on a policy of liberalization and gave licenses to a small number of private banks, which came to be known as New Generation tech-savvy banks, which included banks like ICICI Bank and ICICI Bank. This move along with the rapid growth in the economy of India, kick started the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks. However there had been a few hiccups for these new banks with many either being taken over like Global Trust Bank while others like Centurion Bank have found the going tough. The next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%. The private banks with their focused business and service portfolio have a reputation of being niche players in the industry. A strategy that has allowed these banks to concentrate on few reliable high net worth companies and individuals rather than cater to the mass market. These well-chalked out integrates strategy plans have allowed most of these banks to deliver superlative levels of personalized services. With the Reserve Bank of India allowing these banks to operate 70% of their businesses in urban areas, this statutory requirement has translated into lower deposit mobilization costs and higher margins relative to public sector banks. A Chronology of Nationalisation of Banks 1949: Enactment of Banking Regulation Act. 1955(Phase I): Nationalisation of State Bank of India 1959(Phase II): Nationalisation of SBI subsidiaries 1961: Insurance cover extended to deposits 1969(Phase III): Nationalisation of 14 major banks 1971: Creation of credit Guarantee Corporation 1975: Creation of regional rural banks 1980(Phase IV): Nationalisation of six banks with deposits over 200 crores. The major participants of the Indian financial system are the commercial banks, the financial institutions (FIs), encompassing term-lending institutions, investment institutions, specialized financial institutions and the state-level development banks, Non-Bank Financial Companies (NBFCs) and other market intermediaries such as the stock brokers and money-lenders. The commercial banks and certain variants of NBFCs are among the oldest of the market participants. The FIs, on the other hand, are relatively new entities in the financial market place. CHAPTER 2 INTRODUCTION TO STUDY The main object of the project was to learn about the various products that the bank had to offer to the customers, that is basically a new dimension of selling product to customers, analyze the awareness of the [emailprotected] service with existing customers, educate them regarding the same and motivate them to enroll for the service and also try to assess why the customers are resisting to use the service and finally encourage corporate organizations that maintain their salary accounts with the bank to get a corporate box installed in their office premises. In order to understand and analyze the awareness of [emailprotected] service a questionnaire was prepared and the focus was on the walk inns at the branch that already are customers of the bank. The idea was to analyze the various issues as mentioned above. The analysis showed that many of the existing customers who live even far off from the branch have high frequency of visits to the branch. The analysis also clearly showed that the awareness regarding the service was extremely low. The Bank had to promote the service in order to reach out to the customers and make its presence felt. Observation also indicated that the foot falls at the vasai branch actually come from almost all parts of the city irrespective of the relationship the customers have with the branches throughout the city, making the task even more difficult the drop boxes throughout the city have not been strategically been placed there various locations that do not have the drop boxes but there is high number of foot fall from the area. Also this lead to the understanding that the policy to install drop boxes in areas is very faulty and the corporate office must look into the matter. For awareness of the service I have given recommendations regarding places where the drop boxes should be placed, and some suggestions to overcome the problem. For my task of learning the various products and their features I was guided by the executives at the bank a lot of observation went in and sufficient data form the internet was used to understand the products and services. Chapter 3 RESEARCH METHODOLOGY FORMULATING A RESEARCH PROBLEM â€Å"Product and services provided by ICICI bank† OBJECTIVES 1. To gain knowledge of the various products and their features through observation method and through secondary data 2. To understand daily operations of the bank 3. [emailprotected] Understand the process of [emailprotected] Find out the awareness of the service Motivate customers to enroll for the service Develop ideas for awareness Develop promotional strategies for the service Places to put drop boxes Find out drawbacks of the service Motivate organizations to put up corporate boxes 5. To convince organizations to install Corporate Boxes in their premises and explain to them the advantages and the functioning . RESEARCH DESIGN The research design is descriptive and is conclusive in nature SAMPLE DESIGN Sample Size 50 Non-Probability sampling will suit the best Convenience sampling is taken into consideration SOURCES OF DATA COLLECTION OF DATA Primary Data: The data consisted of Information collected with the help of Questionnaire for analyzing [emailprotected] service. Sample size of which was 50 existing customers. Personal interview was done with the walk ins. Observation method was used for understanding various products and their features and understanding overview of the 5 ’S’ Philosophy. LIMITATION Research Study was to limited geographical area. As all the respondent may not have given correct answer. Sample size was very limited. Many respondent may have liked the competitor company so they have given wrong aswer. Secondary Data: Was collected from internet and intranet within the company for Understanding the product and the features . Understanding the functioning of [emailprotected] Obtaining the documents for Corporate Boxes. CHAPTER 4. 1 OVERVIEW OF ICICI BANK INTRODUCTION TO ICICI BANK The banking sector reforms undertaken in India from 1992 onwards were basically aimed at ensuring the safety and soundness of financial institutions and at the same time at making the banking system strong, efficient, functionally diverse and competitive. The reforms included measures for arresting the decline in productivity, efficiency and profitability of the banking sector. Furthermore, it was recognized that the Indian banking system should be in tune with international standards of capital adequacy, prudential regulations, and accounting and disclosure standards. Principles for Effective Banking Supervision, have made our banking system resilient to global shocks. ICICI is one of the largest bank in India. ICICI Bank is Indias 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. The Bank has a network of 2,508 branches and 5,808 ATMs in India, and has a presence in 19 countries, including India. 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 specialised 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, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany. ICICI Banks 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). CHAPTER 4. 2 ICICI AS AN ORGANISATION BOARD OF DIRECTORS ICICI Banks Board members include eminent individuals with a wealth of experience in international business, management consulting, banking and financial services. Directors Profiles Chanda Kochhar Managing Director and Chief Executive Officer N. S. Kannan K. Ramkumar Rajiv Sabharwal Executive Director CFO Executive Director Executive Director Awards Time and again our innovative banking services has been recognized and rewarded world over. Ms. Chanda Kochhar, Managing Director CEO was ranked 11th by Financial Times in The Top 50 Women In World Business Ms. Chanda Kochhar, Managing Director CEO was ranked 10th in the International Fortune list of 50 most powerful women in business ICICI Bank was voted as the Most Trusted Brand among private sector banks in the 2010 Economic Times Brand Equity Most Trusted Brands Awards and ranked 7th in the list of Top 50 service brands ICICI Bank received the 2010 World Finance UK award for: Excellence in Remittance Business, Worldwide Excellence in NRI Services, Worldwide Excellence in Private Banking Business, APAC Region ICICI Bank UK, HiSAVE has been awarded Best Online Savings Account Provider 2010 by Your Money ,direct consumer awards,UK ICICI Bank UK, HiSAVE has been commended for Best Internet Account Provider 2010 and Best Fixed Rate Account Provider 2010 by Moneyfacts, an independent consumer finance leading aggregator. Ms. Chanda Kochhar, MD CEO was awarded the Financial Express Best Banker Award For the sixth time in a row, ICICI Bank has received the Most Preferred Auto Loan Brand in the Financials Services category at the CNBC Consumer Awards ICICI Bank has won Gold in the Readers Digest Trusted Brands 2010 Consumer award in the Finance category for a) Best Bank and b) Best Credit Card Issuing Bank .Mr. K. V. Kamath, Chairman Mr. K. Vaman Kamath is the non-executive Chairman of the Board of Directors of ICICI Bank Limited, Indias second largest bank. Mr. Kamath has a degree in mechanical engineering and did his management studies at the Indian Institute of Management, Ahmedabad. He started his career in 1971 at ICICI, an Indian financial institution that founded ICICI Bank and merged with it in 2002. In 1988, he moved to the Asian Development Bank and spent several years in South-East Asia before returning to ICICI as its Managing Director CEO in 1996. Under his leadership, the ICICI Group transformed itself into a diversified, technology-driven financial services group that has leadership positions across banking, insurance and asset management in India, and an international presence. He retired as Managing Director CEO in April 2009, and took up his present position effective May 1, 2009. Mr. Kamath was conferred with the Padma Bhushan, one of Indias highest civilian honours, in 2008. He has received widespread recognition internationally and in India, including being named Businessman of the Year by Forbes Asia and Business Leader of the Year by The Economic Times, India in 2007 and CNBCs Asian Business Leader of the Year in 2001. Mr. Kamath was the President of the Confederation of Indian Industry for the year 2008-09. He is also an independent Director on the Board of Directors of Infosys Technologies Limited, Lupin Limited and Schlumberger Limited. He has been a co-chair of the World Economic Forums Annual Meeting in Davos and is a member of the Board of the Institute of International Finance. CHAPTER 5 SWOT ANALYSIS Introduction to SWOT Analysis The overall evaluation of the company’s Strength, Weakness, Opportunities and Threats is called as SWOT Analysis. The external environment analysis of any business will give you the opportunities and threats facing the business. The external environment consist of two parts: 1) Macro Environment: Demographic, Economic, Technology, Political-legal, Socio-cultural 2) Micro Environment: Customers, Competition, Distributors, Suppliers. STRENGHTS: 1) Online Services: ICICI Bank provides online services of all it’s banking facilities. It also provides Demat account facilities on-line, so a person can access his account from anywhere he is. [Demat is a dematerialized account opened by a salaried person for purchase sale of shares of different companies. ] 2) Advanced Infrastructure: Branches of ICICI Bank are well equipped with advanced technology to provide the customers with taster banking services. All the computerized machines are located in suitable manner are very useful to the customers staff of the bank. 3) Friendly Staff: The staff of ICICI Bank in all branches is very friendly help the customers in all cases. They provide faster services along with bonding personal relationship with the customers. 4) 12 hrs. Banking services: Compared to other bank ICICI bank provides long hrs. of services i. e. 8-8 services to the customers. This service is one of it’s kind is very helpful for the customers who are in urgent need of money. 5) Other Facilities to the Customers Employees: ICICI Bank also provides other facilities like drinking water facilities, proper sitting arrangements to the customers. And there are also proper Ventilation sanitary facilities for the employees of the bank. 6) Late night ATM services: ICICI bank provides late night ATM services to the customers. The ATM centers of ICICI bank works even after 11:00pm. at night in certain branches. WEAKNESS: 1) High Bank Service Charges: ICICI bank charges highly to customers for the services provided by them when compared to other bank that is why it is only in the reach of higher class of society. 2) Less Credit Period: ICICI bank provides credit facilities but only upto limited period. Even when the credit period is not over it sends reminder letters to the customers which may annoy them. OPPORTUNITIES: 1) Bank –Insurance services: The bank should also provide insurance services. That means the bank can have a tie-up with a insurance company. The bank will advertise promote the different policies introduced by the insurance company convince their customers to buy insurance policies. 2) Increase in percentage of Returns on increase: The bank should provide higher returns on deposits in comparison of the present situation. This will also upto large extent help the bank earn profits popularity. 3) Recruit professionally guided students: Bank Insurance is a special non-aid course where the students specialize in the functioning services of the bank also are knowledge about various tax policies. The bank can recruit these students through tie-ups with colleges. Such students will surely prove as an asset to the bank. 4) Associate with social cause: The bank can also associate itself with social causes like providing relief aid patients, funding towards natural calamities. But this falls in the 4th quadrant so the bank should neglect it. THREATS: 1) Competition: ICICI Bank is facing tight competition locally as well as internationally. Bank like CITI Bank, HSBC, ABM, Standered Chartered, ICICI also provide equivalent facilities like ICICI do and also ICICI do not have consistency in its international operation. 2) Net Services: ICICI Bank provides all kind of services on-line. There can be easy access to the e-mail ids of the customers through wrong people. The confidential information of the customers can be leaked easily through the e-mail ids. 3) Decentralized Management: Each branch manager is given the authority of taking decisions in their respective branches. The decisions made by different managers are diverse and any one wrong decision can laid to heavy losses to the bank. 4) No Proper Facilities To Uneducated customers: ICICI Bank provides all services through electronic computerized machines. This creates problems to the less educated people. But this threat falls in the 4th quadrant so its negligible. The company can avoid this threat. CHAPTER 6 OPERATIONS PRODUCT FEATURES PRODUCTS AND SERVICES: ICICI Bank offers wide variety of Deposit Products to suit customer requirements. Coupled with convenience of networked branches/ over 1800 ATMs and facility of E-channels like Internet and Mobile Banking, ICICI Bank brings banking at the doorstep. 6. 1 SAVINGS ACCOUNT ICICI Bank offers customers a power packed Savings Account with a host of convenient features and banking channels to transact through. So now customers can bank at their convenience, without the stress of waiting in queues. ICICI Bank provides its customers with various types of savings accounts keeping in mind different needs of different people. Normal Savings Account Special Savings Account Senior Citizen Accounts Young Stars Accounts (1)Normal Savings Account: The Normal savings Account that ICICI offers has the following salient features 1. Anywhere Banking: Opening an account with ICICI is not exclusive to the branch the customer has walked into, customer enjoy the power of banking at any of the branches throughout India. Customers have the power to withdraw cash up to Rs. 50,000 and make cash deposits up to Rs. 50,000 as well. 2. Internet Banking: This is a value added service that the customers are offered free of cost it allows them to check their account balance, pay utility bills, make fund transfers between self accounts as well as third party at the click of the mouse. 3. Ncash debit cum ATM card: It is an international 2-in-1 card that enables customers not only to withdraw cash from ICICI but also from a non ICICI VISA ATM’s further it allows customers to shop at various merchant outlets accredited to VISA across the globe. 4. Minimum Balance: Customers need not maintain a daily minimum balance in their account. On a given day balance in the account may drop to zero, this allows customers all their funds at their disposal. Customers need to maintain an average balance of Rs. 5,000 per quarter. Non-maintenance of the minimum average quarterly balance attracts a fee of Rs. 750 per quarter. (2)Special Savings Account: The Special Savings Account has been designed keeping in mind the specific needs of organizations such as Trusts, Associations, Societies, Councils, Clubs etc. It provides organizations solutions with added value and is ideal for tax exempted entities. The Special Savings Account has the following salient features: 1. Multi-City Cheque Book: This facility allows its customers to skip the traditional way of transferring funds to other cities through a demand draft. The Special Savings Account holder are issued two separate chequebooks for local and outstation use, thereby not only saving on time but also saving on draft commission. The cheques are payable at par at designated ICICI Bank branches across the country. There will be no limit to the value of cheque issued on a single day at RBI clearing centers. For all other centers a cap of Rs. 10, 00,000 on a single day apply. All chequrebooks are personalized. 2. Quantum Optima Facility: Quantum Optima facility combines the liquidity of a saving account and high returns of Fixed Deposit. All balances in the saving account above Rs. 25,000 are transferred to a fixed deposit in multiples of Rs. 5,000 for a time period of one year. The funds however continue to be accessible around the clock through ATM, and also through cheques. Whenever the saving account balance falls below the specified limit, sufficient amount is transferred back from the fixed deposit by breaking in units of Rs. 1,000 on last in first out basis, the terms of the fixed deposit can be specified. This facility is available to those employees who do not use the overdraft facility. However one the overdraft is regularized this facility can be resumed. (3) Senior Citizen Account: The Senior Citizen Account has a few services that the Normal Savings Account does not offer. The salient feature of the Senior Citizen Account are Higher Interest Rates. Demand Loan / overdraft against deposits will be upto 90% of the deposit. The upcountry cheque collection facility for locations with ICICI Bank presence free of charge to the Senior Citizen customers. The ICICI Bank encash debit card is a debit-cum-ATM card providing you with the convenience of acceptance at merchant establishments and cash withdrawals at ATMs. Auto Invest Account Internet Banking is offered free of cost. Anywhere Banking This facility entitles the account holder to withdraw or deposit cash upto a limit of Rs. 50,000 across all ICICI Bank branches. (4) Young Stars Account: Young Stars is a banking service for children, aged 1day -18 years, brought to you by ICICI Bank to help the parents meet the present and future aspirations that they hold for their child. It offers various savings and investment options to the parent along with teaching the child to manage his/her personal finance in a more responsible and independent manner. Young Stars will guide your child through the world of banking -through checking the account balance, fun zones and special pages on the internet. It makes banking a pleasure and of course teaches your child to manage their personal finances. With the pocket money that you transfer to your childs account, you can even shop with him / her at Young Stars very own shopping page. . 6. 2 FIXED DEPOSIT: ICICI provides its customers with various kinds of Fixed deposit facilities that are flexible and cater to customers who have different needs and wants in their fixed deposits. ICICI provides a Fixed Deposit that allows customers to deposit their money for just as long as you wish. The Fixed Deposits can be opened for periods ranging from 15 days to 10 years. Salient features of a normal fixed deposit Allows customers to open fixed deposits for periods ranging from 15 days to 10 years and a choice of two investment plans: Traditional Interest payable monthly, quarterly or half-yearly as per your convenience Maturity period ranges from 15 days to 10 years. Reinvestment Interest is compounded quarterly and reinvested with principal amount Maturity period ranges from 6 months to 10 years Minimum Balance Customers can avail of ICICI Bank Fixed Deposits for a minimum deposit of Rs. 10,000 and thereafter in multiples of just Rs. 1,000. Nomination Nomination facility is available for relationships in the names of individuals. Unless otherwise specifically, given in writing by depositors, nomination in deposit accounts will be at Customer ID level. Depositor(s) however has/have the right to specify different nominations at account level by completing appropriate forms. Further, the applicant(s) is/are at liberty to change the nominee, through declaration in the appropriate form to revise the nomination during the currency of the relationship accounts with the Bank. (A) The Easy Fixed Deposit: Easy Fixed Deposit is an ICICI Bank fixed deposit scheme having benefits of Debit -cum- ATM card. The depositors shall be provided with a Debit Card for transacting in fixed deposit. Transactions which are allowed are Part withdrawal of fixed deposit Full withdrawal of fixed deposit Generation of mini statement (B)Recurring Deposit: ICICI Banks Recurring Deposits are the ideal way to invest small amounts of money every month and end up with a large saving on maturity. It aims to encourage savings without putting any stress on customers finances by making them to put a lump sum amount in fixed deposit in one go. The recurring deposit also attracts high rate of return that are identical to the fixed deposit rates and most importantly no TDS is applicable on it. The minimum balance of deposit is of Rs. 500 and thereafter in multiples of Rs. 100 the minimum period is 6months and thereafter in multiples of 3months, nomination facility is also available. 6. 3 CURRENT ACCOUNT Every business requires efficient banking facilities to support its business activities. ICICI Bank offers premium quality service, unfolding a wide array of class products. With technology leadership and service the bank is able to meet some of the most challenging financial needs of clients. A Current Account is one that is required by Businessman, Joint stock companies, Institutions, Public authorities, public corporations etc. Any business that has numerous banking tranactions need a current account as it Allows running account supporting unlimited withdrawals and deposits. Is meant for convenience and not to save money. Benefits of current account: Unlimited Withdrawal and Deposit Unlimited Cheque book Demand Drafts and Payorders Funds Transfer ( Local or Anywhere) Collection of Cheques/ Drafts Statements, Advices, Daily statement by e-mail Cash withdrawal and Deposits Call center Internet Banking. Multicity Cheque payment facility at over 155 centers Anywhere Banking facility Doorstep Banking Pickup and delivery of Currency / Cheque Mobile Banking 6. 4 SALARY ACCOUNT The process of drawing cheques for salaries is replaced by sending a single ASCII file to the bank and the amount is directly credited into the employees salary account Cuts down payroll processing workload Salary Account can be opened with minimum 10 employees Instant credit of salaries ICICI Bank Salary Account is a benefit-rich payroll account for Employers and Employees. As an organization, you can opt for our Salary Accounts to enable easy disbursements of salaries and enjoy numerous other benefits too. With ICICI Bank Salary Accounts your employees will enjoy the convenience of : †¢Having the largest network of ATMs at their command, †¢Free 24 hour Phone Banking, †¢Free Internet Banking. All that the organization would require to do is to send ICICI Bank an advice (in form of a cheque/debit instruction, ecs, etc) for the total salary amount along with the salary details of the designated employees in a soft and hard copy format and we will credit the respective employees accounts as per your statement of advice. 6. 5 INVESTMENT SERVICES ICICI Bank cares about all needs. Along with Deposit products and Loan offerings, ICICI Bank assists people to manage their finances by providing various investment options ranging from ICICI Bank Tax Saving Bonds to Equity Investments through Initial Public Offers and Investment in Pure Gold. ICICI Bank facilitates following investment products: ICICI Bank Tax Saving Bonds Government of India Bonds Investment in Mutual Funds Initial Public Offers by Corporate Investment in Pure Gold Customers can invest in above products through any of ICICI bank branches. For select products ICICI Bank also provides the ease of investing through electronic channels like ATMs and Internet (ICICIdirect. com) 6. 6 LOANS Salient Features: Attractive interest rates Door-step service from enquiry stage till final disbursement Can transfer your existing high-interest rate loan Free p

2 Way Comunication Essay Research Paper 2Way free essay sample

2 Way Comunication Essay, Research Paper 2-Way Communication Once a company has a web site, the possibilities are endless. As outlined in the old subdivision, a company website has the ability to make a market of consumers or sellers that may be out of its physical range. Not merely does it hold the ability to relay unbounded sums of information, but it can besides supply a vehicle of communicating to the remainder of the universe. Any individual can log onto a company web site and happen links to electronic mail ( e-mail ) or bulletins, possibly even a # 8220 ; chat # 8221 ; country, an country where persons can talk to each other unrecorded via computing machine. By leting this type of entree to the populace, companies can greatly spread out their concern. Electronic mail is going the preferable vehicle of communicating for about anyone of the technological epoch. A company whose web site provides links to e-mail immediately reduces the figure of phone calls and letters into their office. Customers no longer hold to wait on the phone or spend clip composing letters to reach a service representative. With a to the full functional company website, service representatives are # 8220 ; merely a chink off # 8221 ; . Customers can relay any inquiries, concerns, or jobs through electronic mail. Companies can turn to issues in a short clip frame, hence increasing the quality of service. Customers will have responses faster than the conventional mail system ( besides known as # 8220 ; snail mail # 8221 ; ) and can avoid the defeat of being on the phone for hours on terminal. A company that utilizes e-mail efficaciously immediately realizes an addition in production. Not merely can companies supply better service to current patronage, they can make a whole new market of consumers worldwide ; possible consumers have entree to representatives of companies they would non hold otherwise. Aside from supplying enhanced services to their clients, using electronic mail is an efficient manner to pass on between sections and maximise intra-office correspondence. E-mails give an employer the ability to administer messages to an limitless figure of employees without go forthing his or her desk. There is no demand for touchable press releases, memos, circulars, or such. There is no easier manner to immediately present a fifty-page study to legion receivers than by attaching the file to an e-mail message. The greatest advantage to electronic mail is that it is virtually free. There are no envelopes or casts required. The demand for paperwork is minimized to publishing a transcript of the e-mail when required and registering it in its several topographic point. Imagine the money a company can salvage if it did non hold to engage people to open mail or answer phones! Electronic mail is merely one signifier of communicating available on company web sites. Many besides offer electronic bulletin boards, which can be used to post company reappraisal, occupation gaps, and approaching events. It is another signifier of electronic communicating that enhances a company # 8217 ; s web site. Companies can supply bulletin boards as a forum where consumers can interchange thoughts. Kraft Foods, Inc. , the shapers of Jell-O, Kool-Aid, and Maxwell House, provide an country on their web site where consumers can post their ain formulas to portion with other website visitants. OnHealth.com provides an country in their web site where visitants can beg advice on wellness or household related issues from other visitants. Companies can besides profit from utilizing electronic bulletins. Employers can log on and see what visitants to their web sites have to state. It gives them an indifferent locale into consumer concerns, awards, and general petitions. There is no better manner to cognize how your clients feel than to have direct feedback. Not merely can employers post company information and approaching events for their clients, but they can besides post information, such as intra-office occupation poster, for their employees. Employees can utilize the bulletin board in the same manner that clients do. Many company websites besides sponsor confab forums, used to convey a battalion of people together from all corners of the Earth to discourse company-related issues. A confab forum is an electronic version of a conference call. Several people can log into a chat country and keep a treatment by merely identifying in responses. An advantage to keeping confab forums is that companies can link with multiple contacts at existent clip. Anyone who has mandate to the site can log on and see the confab without going an active participant. Alternatively, anyone who has mandate can besides fall in the confab. If companies offered a opportunity for their clients to talk in a similar forum, they would be able to happen out precisely what their concerns were. On-line Minutess The Internet continues to turn at a dramatic rate, with the figure of planetary users now est imated at 195 million – 4.64 % of the world’s population. A major tendency within this growing is the addition in electronic commercialism, with 1999 seeing grosss from Internet shopping grow by 150 % and concern to consumer electronic commercialism bring forthing about $ 12 billion. By 2004 analyst predict that more than 56 per centum of concern worldwide will be on-line ( Rosario, 1 ) . A web site on the World Wide Web allows a company to sell its merchandises or services to this turning market. New methods allow for secure and wholly confidential minutess over the web. Maximizing the usage of the Internet for finishing on-line minutess can salvage a company clip and money. With the rapid progresss in engineering, the capableness to carry on all facets of the concern dealing on the Internet has emerged as a feasible option to making concern in the customary method. # 8220 ; Cost nest eggs are derived through mechanization of administrative undertakings, client keeping by cognizing clients # 8217 ; profiles kept on a database accessible by any employee, velocity in supply procurance, and company leaders being able to do real-time determinations with Windowss into the whole endeavor, anyplace, anytime, # 8221 ; said Oracle Systems # 8217 ; Michael La ( Low, 12 ) . Making our web site more than merely an information site, but a web site that offers clients the ability to carry on existent clip minutess, would make merely this. The key to carry oning minutess over the Internet frailty more traditional methods is simplifying the clients telling process. Simplification must be accomplished while still giving the client the feeling that their demands are being met. Simplification must besides non sacrifice security concerns for the clients. If these conditions are met, the client will believe that the streamlined ordination service is really a more convenient method of carry oning concern. Simplifying the ordering process to include everything the client could perchance necessitate is the first measure. With all the merchandises a company offers, every bit good a often asked inquiries about the company # 8217 ; s services, and a direct nexus to reaching the company for any farther inquiries, all the demands of the client are answered. Here is where the service part comes in. All of the other stairss are in topographic point now the existent minutess take topographic point. The dealing can take topographic point over many different formats. All these formats will hold strong encoding in common. Depending on what it is the company wants to sell and whom they want to sell it to, will find the type of package to utilize for this intent. Secure Socket Layers or SSL is the anchor of any unafraid dealing ; SSL should be used as the bottom degree of security nevertheless, non entirely. For the occasional client who would take to utilize his or her recognition card there is Secure Electronic Transaction or SET. For business-to-business minutess where the both parties are familiar with each other, Public Key Infrastructure or PKI is an option. Many companies at this clip us Secure Socket Layers as their lone agencies of procuring minutess. This is put on the lining fiddling by on-line stealers and plagiarists. Secure Socket Layers is a footing to construct upon with farther encoding, for a erstwhile dealing it would be safe plenty, but with a company making volumes of concern more security is needed, like Secure Electronic Transaction or Public Key Infrastructure. The Secure Electronic Transaction protocol, launched in 1996, is a common proficient criterion designed to protect payment card purchases over the Internet ( Setco, 1 ) . Secure Electronic Transaction is non a package bundle, but alternatively an industry criterion set up by taking recognition card sellers, Visa and Master Card, to guarantee on-line minutess. Secure Electronic Transaction gives recognition card purchases made over the cyberspace excess beds of security that would guarantee the clients data security at all times. In fact security would be higher than that of a traditional brick and howitzer concern, since no existent people would see the recognition card Numberss. Companies that desire more than merely procure recognition card minutess there are other methods of encoding for all the information they transfer, such as Public Key Infrastructure. Public Key Infrastructure would be particularly beneficially for carry oning business-to-business minutess. Public Key Infrastructure is basically a digital signature that is structurally attached to an electronic papers. The digital signature encases the papers or file with a bed of security that follows the papers. Digitally subscribing e-documents and files provides cogent evidence of individuality of the person who created the papers and at the same clip binds the papers to him, thereby forestalling that single from denying association with such a papers or file at any point in the hereafter.

Opinion Essay Sample Answers for English

Opinion Essay Sample Answers for EnglishAn opinion essay, or IELTS sample answers for an English subject is the best way to prepare for a large course in English literature. It is recommended that all students take this test. The IELTS exam is four hours long and has three sections of different difficulty.Students will be able to see their scores on a scale that makes them feel proud of themselves for their accomplishment of writing an essay in English. But it is recommended that these students understand what a question means in order to find the most appropriate answer for any given question. Even though an opinion essay will be their first essay, it is still important to know the proper definition of a question in order to successfully do it.Writing an essay in English is a skill that must be mastered by students who want to continue with their studies. Many students feel they are ready for it but do not take the test seriously. When they realize that they cannot get the best poss ible score, many do not return for the next one.This is why the IELTS exam is so important to study for as it is designed for those who are already in the top tiers of English as a second language. They can still get the skill without taking the other exams necessary to advance to the next level. The problem is that many students do not find the time or the skills necessary to take the other tests needed to advance to the next level.It is also important to know that each of the tests required to graduate from high school and then to take college-level English is designed for different levels of English proficiency. Some tests are easier to complete than others. The tests will still be different but the difficulty is not.The IELTS exam is designed for those who are already proficient in English. This is because the majority of people who take this test do not have experience of learning another language. Although there are some countries that require foreign language skills, the Unit ed States does not.Most people from the United States do not have the experience to write essays and essay of any length in English. The test is designed for people who already know how to write in English. It takes practice but it is worth it.There are many ways to find the best opinion essay answer. The simplest and best way is to search on the Internet for an opinion essay sample answers for English. There are many websites that offer opinion essay answers and some of them are free while others are not.

Italian Renaissance Arts Affect On Essays - Western Art, Renaissance

Italian Renaissance Art's Affect On Italian Renaissance Art's Affect on Today's Culture World History David 1 Many of us today have things in our culture that we appreciate without thinking about where they have come from. The things we enjoy so much could be from another culture, and even another place in time. This document will explore the influence of Italian Renaissance art on today's civilization, which has greatly changed the art of today. The Renaissance was a time period that began in the early 1300's and lasted into the 1600's. It was a time when the philosophies of the ancient Greek and Romans were rediscovered, which took place after the Middle Ages. Many of the philosophies of the Middle Ages were no longer accepted, and the Renaissance brought about a revamped way of thinking and learning, based on the Greek and Roman culture. The thinkers and humanists had much to do with the direction of the Renaissance, but the artists also had significant importance. Artists are not philosophers, although in the Renaissance they come very close to sharing in the philosophical enterprise(Gardener 561). The Renaissance was about individualism. Renaissance painters were attempting to do the same as Renaissance writers, who wanted to interpret people and nature realistically (World Book) . Architects of the Middle Ages designed huge cathedrals to emphasize the majesty and grandeur of God. Renaissance architects designed building s on a smaller scale David2 to help make people aware of their own powers and dignity (World Book). The artists of the Middle Ages focused primarily on religious subjects, not focusing on making their art realistic. During the Renaissance, all that changed. Artists then included an emphasis on human beings and the environment, which shown that this is indication of changes in their culture at the time. Renaissance individualism and realism found their greatest and most lasting representation in the visual arts (Walker 77). There were many great artists spread across the time of the Renaissance. Some of them were leading the way in new artistic techniques created during the Renaissance, while others used inspiration from a past artisan to establish their own styles and methods. About a century before the art caught on, a Florentine painter by the name of Giotto was the first to break away from the Middle Age style of painting. Giotto was the towering artistic genius of the 14th century, so far ahead of his time that no other painter approached his level of work for almost a hundred years (Walker 78). Even though Giotto was ahead, he lacked the awareness of perspective, but he used space, light, and color to create a very strong sense of the human form, along with a storyteller's ability to capture the central moment in a particular scene (Walker 78). One of the important pieces of the revolution that David 3 Giotto started was that he established painting as a major art for the next six centuries, and he also founded the method of pictorial experiment through observation (Gardener 568). After Giotto there was a architect that came along in the early 1500's that rediscovered the classical Greco-Roman style and the rediscovery of artificial perspective, which allows a painter to paint something three-dimensional on a two-dimensional plane (Walker 78). Some of his most famous works are the Cathedral Dome in Florence, and the bronze Baptistery doors he won a contest with. It was said that no space so vast had ever been spanned since the Pantheon in ancient Rome, and no dome had ever been built at this height about the huge dome that was built (Silver 162). There was also Michelangelo, who it was said that through him, art in Italy attained the 'supreme perfection'(Silver 162). He produced a marble statue of David, which symbolized his own heroic personal striving to express spiritual beauty through art (Silver 162). The next vital artisan of the Renaissance was very diverse in what he specialized in. Today, we use the term Renaissance man to describe someone who can do many things well. Many of the Renaissance's prominent figures deserved this description, but there is one that fits this description the most, Leonardo da Vinci. He painted, worked as an architect, engineer, and a general designer, of pageant scenery and costumes

How Far Is the Monarchy an Outdated Institution Essays

How Far Is the Monarchy an Outdated Institution Essays How Far Is the Monarchy an Outdated Institution Essay How Far Is the Monarchy an Outdated Institution Essay Essay Topic: History The question of as to how important the monarchy stands today in todays society is one of considerable importance of more recent times. Although recent polls suggest that around 70% of Britons want to keep the monarchy we can see a huge drop in the amount of 18- to 24-year-olds who say they do not want a monarch. This essay will try to consider both pro monarchy and pro republican arguments in analysing as to just how outdated the monarchy is as an intuition. To have a greatest understanding of the question we must first understand the what the monarchy is and the alternatives to it. A republic, unlike a monarchy is a polity in which governmental power devolves by popular election, and not by heredity. In Monarchy to Republic by Winterton (1986 p2) defines Its older meaning as simply a state or polity, or a state including a monarchical one with a mixed government or balanced constitution. But after 1649 republic was often used to describe a state without a king, or a state in which power was derived from the people, it was often treated in association with democracy or commonwealth. There are four main modern theorys as to how useful the monarchy is today these are: A celebration of shared values (Shils and Young) whereby the monarchy is thought to be a key actor in creating a nation state. The monarchy seemingly has the power to bring people together for the common good of the nation. The pinnacle of the ruling class (Karl Marx) Marx suggests that the monarchy is the is the largest symbol of the bourgeoisie and is just another institution trying to control the proletariat. An outdated irrelevance (Birnbaum) this theory is that the monarchy is insignificant in todays society and even though they may well have absolute power in it would never be used to any importance. The mainstay of an archaic state system (Nairn), this suggests that the monarchy is just the foundation of whats wrong with are state system at the moment due to conservative minds unwilling to change things. The first theory has very little evidence to support itself, in fact according to the recent Guardian/ICM poll and the Independent on Sunday MORI poll. Under half those surveyed in a recent poll considered the royal family to be important to Britain. One in three believed the royals were out of touch. Less than one in four thought they were hard working. Just one in 10 thought the royal family were good value for money. I believe this do be undeniable evidence that the monarchy does not bring people together with shared values for how can we identify with someone that has nothing in common we the people they govern. It all sounds like hypocrisy to me why are the royals held up as an example for people to follow. They must be one of the worlds most famous dysfunctional families. They are ashamed of divorcees, alcoholics and possible homosexuals in their midst. Their values are completely corrupt. Marxs theory on class war is very popular with leftist theorists. He suggests that were ever there is capitalism and the need to make money they will be institutions attempting to control others for there own personal gain. A relevant quote would be that of Keir Hardie on the 1897 Jubilee: The cheering millions would be there and cheer just as lustily if the occasion were the installation of the first President of the British Republic; the soldiers are there because they are paid for coming;the statesmen are there because Empire means trade and trade means profit.In this country loyalty to the Queen is used by the profit mongers to blind the eyes of the people; in America loyalty to the flag serves the same purpose.. Birnbaums theory is one of complacency in my eyes. I agree he is right that the monarchy is irrelevant in todays society but they still cost the taxpayer money. The taxpayer spends over à ¯Ã‚ ¿Ã‚ ½60 million per year on services related to the monarchy. This money could be spent on hospitals or schools and until recently, the Queen paid no tax whatsoever on her property or income. Everyone should have the same rights. People who didnt pay the poll tax are still being hunted down and locked up. Nairns theory on outdated state system is most relavant to todays monarchy. The theory explains as to has outdated and undemocratic the monarchical system is. The Queen can veto an Act of Parliament, intervene in policy decisions, and even dissolve the government if she wishes. And this isnt just in theory Queen Elisabeth II has even done it in practice. In 1975, she got the Governor-General to dissolve the Labor government in Australia because she found it too left-wing. The monarch can take over the government in circumstances that threaten the state such as a general strike or mass civil unrest and they could even sell the navy and get people put in prison without a jury trial. This is obviously an undemocratic and outdated system. In conclusion the execution of Charles 1st is an inspiration for all fighting to reform the undemocratic British state. After the bloodshed on 30 January 1649, until shortly after Oliver Cromwells death Britain enjoyed a successful 12 year republic, without any Monarchy or House of Lords, a true republic can be achieved. The Monarchy which, with the House of Lords, is supposed to embody our unwritten constitution stands in the way of us having proper rights separate from the state. The creation of a written constitution would help protect those rights that have been increasingly infringed in the recent. With no bill of human rights people of Britain have no statutory line of defence against these oppressive and unrepresentative measures. What is more, it is only through the creation of a social contract can we rebuild a caring civil society, which in my eyes has been lost over the recent decades. Without a shadow of doubt the monarchy is an outdated instition.

Abnormalities in returns and gains in financial markets Assignment

Abnormalities in returns and gains in financial markets - Assignment Example Questionable interests have been raised as a means of gaining an insight in causes of the abnormalities in the financial market studies. Much of the interest raised has been directed towards understanding the nature of the gains on both the two major types of offers. It is important to know whether the gains are truly anomalous or whether they are communal with the firms that are nonevent with features that are connected to the average returns. According to Famar & French (1993), book to market equity and size are the two variables believed to have connection with the average stock return (ASR). The long term buy and hold returns only apply for the size and this may result to the outcome being affected by additional variables that are common with the average return. Famar and French’s research aimed at comparing the half a decade period buy-and-hold gains on initial public offers that had gains on portfolios that matched the initial public offers on size and book to market equ ity. The two types of public offers were not considered in the research. The study led to helpful findings. A half decade relative wealth increased from a percentage of seven to about a hundred percent. The study showed that buy and hold gains on securities equity discount are almost equal to the one produced by the non event portfolios with common size and BE/ME. Independent studies conducted by different researchers led to the deduction that the two types of public offers were minimal growth stocks.

Focusing the Study Essay Example | Topics and Well Written Essays - 500 words

Focusing the Study - Essay Example Two distinct studies all base their research on the subject although with different approaches and purposes. A qualitative study by Mohr, Webb and Harris titled ‘Do Consumers Expect Companies to be Socially Responsible? The Impact of Corporate Social Responsibility on Buying’ attempts to focus on the problem of whether corporate social responsibility actually impact profitability within organizations, (Mohr and Webb, 2005). The key questions asked within the study include; whether from consumer’s perspective corporations have to be socially responsible to society; the nature of this responsibility; how much knowledge consumers think they have on the level of the social responsibility of the firms; if the consumers really care of the firm’s social responsibilities and what motive consumers actually attribute to corporations that participate actively in society’s affairs. The paper uses a number of methods including in-depth interviews and has the purp ose of coming up with a clear understanding on what the public expects on these corporations with regards to social responsibility, (Mohr and Webb, 2005). The second study titled ‘Corporate Social and Financial Performance: A Meta-analysis’ by Orlitzky, Schmidt and Rynes uses a quantitative approach in assessing the relationship between the corporate social performance and the resulting financial performance. The quantitative study conducts a meta-analysis of 52 studies with a total sample size of 33,878 observations, (Orlitzky, Schmidt and Rynes, 2003). The study’s specific objectives were to provide a statistical integration of accumulated research between CSP and CFP, examine key determinants of both CSP and CFP and integrate empirical research in the context of diverse studies. The Hypothesis stated that ‘Corporate Social Performance and Financial performance are generally related across a wide variety of