Private Sector

Banks
ICICI BANK


Acknowledgment

It gives us an immense pleasure to present this project
of private sector banks (ICICI). WE like to THANK
PROF. JYOTI for giving us an opportunity to express our
ideas through this project.

KNOWLEDGE GAINED HERE WILL SURELY
REFLECT LIGHT IN OUR FUTURE.



















GROUP MEMBERS


LIJITH JOHNSON

POONAM CHIKLE

ASHISH VARGHESE

MADHURI SINGH

BHAVESH BHOJWANI


Private Sector Bank

All those banks where greater parts of stake or equity are held by the
private shareholders and not by government are called "private sector banks".
These are the major players in the banking sector as well as in expansion of
the business activities India. The present private-sector banks equipped with
all kinds of contemporary innovations, monetary tools and techniques to
handle the complexities are a result of the evolutionary process over two
centuries. They have a highly developed organisational structure and are
professionally managed. Thus they have grown faster and stronger since
past few years. Example: ICICI BANK


ICICI BANK
ICICI Bank is an Indian multinational bank and financial services company
headquartered in Mumbai. Based on 2013 information, it is the second
largest bank in India by assets and third largest by market capitalisation.
It 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
has a network of 3,350 branches and 10,486 ATM's in India, and has a
presence in 19 countries.
Hence we proceed with the function and working









Working and Function of Private Sector Bank
(ICICI Bank)

Primary Functions of Banks

The primary functions of a bank are also known as banking functions. They
are the main functions of a bank.
These primary functions of banks are explained below.

1. Accepting Deposits

The bank collects deposits from the public. These deposits can be of
different types, such as:-
Saving Deposits
Fixed Deposits
Current Deposits
Recurring Deposits






2. Granting of Loans and Advances
The bank advances loans to the business community and other
members of the public. The rate charged is higher than what it

Pays on deposits.
The types of bank loans and advances are:-

Overdraft
Cash Credits
Loans
Discounting of Bill of Exchange



B. Secondary Functions of Banks
The bank performs a number of secondary functions, also called as
non-banking functions.
These important secondary functions of banks are explained below.

1. Agency Functions
The bank acts as an agent of its customers. The bank performs a
number of agency functions which includes:-

Transfer of Funds
Collection of Cheques
Periodic Payments
Other Agency Functions

2. General Utility Functions
The bank also performs general utility functions, such as:-
Issue of Drafts, Letter of Credits, etc.
Locker Facility
Underwriting of Shares
Dealing in Foreign Exchange


Working Hours of ICICI Bank


Monday to Friday: - 9.00am - 6.00pm
Saturdays: - 9.00am - 2.00pm
Sunday Holiday



NATURE AND TYPES OF ACCOUNT:

Saving account
The 'saving account' is generally opened in bank by salaried persons or by the
persons who have a fixed regular income. This facility is also given to students,
senior citizens, pensioners, and so on.
In India, saving account can be opened by depositing 100 to 5000. The saving
account holder is allowed to withdraw money from the account as and when
required. The interest which is given on saving accounts is sometime attractive,
but often nominal.

Fixed deposit
The term 'fixed deposit' means that the deposit is fixed and is repayable only
after a specific period is over.
Under fixed deposit account, money is deposited for a fixed period say six
months, one year, five years or even ten years. The money deposited in this
account cannot be withdrawn before the expiry of period. The rate of interest
paid for fixed deposit vary (changes) according to amount, period and from bank
to bank.

Minimum Fixed Deposit amount of Rs. 10,000
Flexibility of tenure - 7 days to 10 years
Loan / Overdraft up to 90% of FD amount



Recurring Deposit Accounts
These are popularly known as RD accounts and are special kind of Term Deposits
and are suitable for people who do not have lump sum amount of savings, but are
ready to save a small amount every month. Normally, such deposits earn
interest on the amount already deposited (through monthly instalments) at the
same rates as are applicable for Fixed Deposits / Term Deposits
The minimum balance of deposit is Rs. 500 per month and thereafter, in multiples
of Rs. 100.


Period of Deposit
The minimum period is 6 months, and thereafter in multiples of 3 months.



Offer and Plans of ICICI bank
ICICI Bank presents Child Education Plan, a unique way to save for your child's
future.
Ex. If your child is in secondary school, just invest Rs. 3,700 (per month) for the
first 6 years, in a plan of 10 years tenure. Get an annual pay out of
Rs. 102434* for the next 4 years and fulfil your dream of seeing your child
graduate from a great college.

Senior Citizen Plans
ICICI Banks Life Plus Senior Citizen Services have been designed to
empower senior citizens to independently carry out the day-to-day banking
transactions with dignity and confidence. These senior citizen benefits are
exclusively for customers above 60 years of age.





Other service of Bank
Collection of Cheques, Bills and Promissory note
The bank collects the money of the cheques through clearing section of its
customers. The bank also collects money of the bills of exchange.

Issue of Drafts and Letter of Credits
Banks issue drafts for transferring money from one place to another. It
also issues letter of credit, especially in case of, import trade. It also
issues travellers' cheques.

Locker Facility
The bank provides a locker facility for the safe custody of valuable
documents, gold ornaments and other valuables.

Periodic Payments
On standing instructions of the client, the bank makes periodic payments in
respect of electricity bills, rent, etc.

ATM
ICICI Bank's Special ATM machines for visually challenged people operates
on a voice guided system with specially made function- display keys which
guide them to operate the ATM

Minimum balance required for an ICICI Bank Savings
Account

The minimum average monthly balance required to be maintained for a Savings
Account is Rs. 10,000/- in metro and urban locations, Rs. 5,000/- in semi-urban
and Rs. 2,000/- in rural locations.

The minimum balance of deposit for Recurring account is Rs. 500 per month and
thereafter, in multiples of Rs. 100.



For opening a new savings account, you have to submit
following documents:
1. Recent Passport Size Photograph

Any Form of Identity Proof: Following documents are acceptable as valid
Identity Proofs
1. Passport
2. PAN Card
3. Voters identity card
4. Driving license
5. Any form of identity card (College ID card, employee identify card etc.)
6. Letter from a recognized public authority or public servant to verify the
identity


Proof of Address: Following documents are acceptable
as valid address proofs

1. Telephone Bill (BSNL or MTNL bill. Some banks may not accept private
operators bills)
2. Letter from a recognized public authority or public servant verifying the
residence of the customer
3. Electricity bill
4. Ration card
5. Letter from employer
Exact documentation will vary between banks








Qualification of a Bank Manager
Senior Manager
Educational qualifications: MBA with specialization in Finance from the
University/Institute recognized by govt. of India.

Manager (Taxation)
Educational qualifications: CA/CFA/MBA with specialization in Finance from the
university/institute recognized by govt. of India
Officer Industry

Officer HRD
Educational qualifications: Graduate with a post-graduate degree or diploma in
personnel/management/industrial relations/labour laws/labour welfare/social
work from university/institute recognized by govt. of India

Procedure for filling complaints
Customer Care: Customers can contact our Customer Care officers through Phone
for redressal of issues.
ii. Branch: Customers can walk into any ICICI Bank branch and speak with branch
officials for resolution of their issues.
iii. E-mail: Retail customers can e-mail their issues [email protected]
and corporate customers can send an e-mail [email protected].

Customers may send a letter to:
ICICI Bank Limited
ICICI Bank Phone Banking Centre
P. O. Box No. 20
Banjara Hills P. O.
Hyderabad 500 034
India


Types of securities for granting loans

Property papers
Mutual funds, share, bonds, GOLD
Loan on the Strength of Your Income: Submit income proofs as required
and avail finance up to 90% of the ex-showroom price of the car.



Conclusion

More employment opportunities- The private sector has plenty more
employment opportunities than the public sector.

Fast growth- If you are looking for fast growth in your career, private
sector is meant for you. In the public sector, promotions are based on experience
than skills.

Better job satisfaction- Every day is a challenge in the private sector.
There are new clients, new projects, and new deadlines to meet.