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ICICI Group Consolidating statement delivery across the group.

Company Profile ICICI Bank is India's second-largest bank with total assets of Rs. 3,446.58 bill ion (US$ 79 billion) and profit after tax of Rs. 31.10 billion for fiscal 2007. ICICI Bank is the most valuable bank in India in terms of market capitalization and is ranked third amongst all the companies listed on the Indian stock exchang es in terms of free float market capitalisation. The Bank has a network of about 950 branches and 3,300 ATMs in India and presence in 17 countries. ICICI Bank offers a wide range of banking products and financial services to cor porate and retail customers through a variety of delivery channels and through i ts specialised subsidiaries and affiliates in the areas of investment banking, l ife and non-life insurance, venture capital and asset management. ICICIdirect.com is the online brokerage of the bank offering retail and institut ional investors an online platform to buy/sell shares, futures & options, mutual funds, etc .

Scenario and Challenges: With the boom in stock markets in India and the growing equity cult among retail participants, ICICIdirect.com was faced with huge volumes of transaction data t hat needed to me notified/sent to customers in a timely basis. Regulatory requir ements entail brokers to have contract notes, Demat account and TOC (Trade Order Confirmation) statements delivered to customers on execution of trades. The mos t efficient and cost effective way to deliver these notes, statements and confir mation orders is to be able to deliver them electronically to customers in a sec ure, password protected and digitally signed format. The solution should scale to accommodate the growing volume of transactions and customers trading online and not affect performance in the generation and delive ry of contract notes, Demat and TOC statements in a timely and efficient manner. ICICIdirect.com wanted to identify a methodology wherein it could be notified wh en a customer email bounced back so that a copy of the print version with neithe r encryption nor digital signature can be generated and mailed out to the custom er automatically. The brokerage wanted to efficiently manage and administer their customer support operations for handling customer queries via a self care portal and enable user s to have access and be able to download/print duplicate notes/statements enabli ng efficient trading transaction tracking. Moreover, ICICIdirect.com wanted to send out a consolidated statement to custome rs detailing their ECN (Electronic Contract Note), TOC (Trade Order Confirmation ) and Demat statement information all in one single unified statement to save on printing and dispatch costs. ICICI Bank, a part of the ICICI Group was also looking for a cost-effective solu

tion that would help the bank with a consolidated statement presentation solutio n to handle all their products and services like retail banking, credit cards, w ealth management etc. through multi-channel statement delivery via web, email, f ax, mobile (SMS) etc. Data had to be consolidated from hybrid systems on the backend like core banking systems, assorted databases, credit card billing and CRM systems. This data had to be warehoused and converted to XML/CSV format for universal interchange acro ss platforms and systems. A single bank customer has multiple relationships with the bank like CASA (Curre nt account/Savings account), loans, credit card, Demat (equity), mutual funds et c. The bank wanted to consolidate these numerous product and service relationshi p information into a single view for presentation and delivery. The bank needed to inform and update customers with new innovative products and solutions it was offering on a regular basis. ICICI Bank wanted to use the custo mer account statement to advertise products and services targeted to the custome r based on the customer s profile, thereby increasing ROI on the marketing campaig n. The entire process of statement generation, printing and dispatch had to be auto mated end to end. A consolidated single statement generated for multiple product s and services offered by the bank needed to be dispatched to customers in print or electronic format for efficient and cost effective delivery. A simple web based interface to manage and administer the entire statement gener ation and dispatch of statements with reconciliation audits and logs to ensure s tatements that were erroneously printed, not delivered or statement emails bounc ed back were resent and tracked accordingly. ICICI Bank needed a customer communication management specialist to help them wi th a solution to present a consistent unified view of customer information acros s their banking interfaces like call centers, customer portal and printed statem ents mailed out.

The Solution ICICI Bank and ICICIdirect.com chose SEEinfobiz as their one stop solution partn er for all their customer statement communication requirements. SEEinfobiz has m any years of expertise in designing and implementing bank account statement solu tions in record time. The customer trading (equity/mutual funds) and statement information (bank, loan s, credit cards etc) had to be digitally signed, encrypted and password protecte d before it could be sent to the customer to ensure the data reached the right c ustomer without tampering or leakage. A unique system was incorporated wherein p asswords were dynamically generated for each login to ensure maximum safety and security. ICICI Bank was able to integrate customer transaction information from across th e bank s operations. This enabled the bank to have a comprehensive view of operati ons and transactions from across the many branches and ATM s via a single centrali sed interface using the web.

ICICI Bank can dispatch printed bank statements to multiple addresses for custom ers who request the service for efficient and convenient access to account trans action history. To better manage and control the statement dispatch and delivery process across different channels like print, email, mobile etc, CLICK PSS gene rates logs of all deliverables processed and dispatched for reconciliation purpo ses to ensure the statements are processed and delivered efficiently to the righ t address. ICICI Bank customers can log in through the internet banking portal t o generate an ad hoc statement for a specific period in their desired format lik e HTML or PDF. These statements are generated immediately on the fly and can be saved for future reference by customer. The CLICK PSS marketing module has a rule based engine to display messages and a dvertising on the customer s bank statement. This enhances customer response to me ssages and promotions as profiled customers are sent targeted messages based on the customers user profile. This increases marketing ROI as customers segments t hat are most likely to get value from products and services advertised are displ ayed to customers. CLICK PSS due to its unique architecture, does not interact with live transactio nal data on core banking systems etc which results in rapid response for custome r statement data as it is scalable to handle millions of users without impacting performance. Benefits With CLICK PSS, ICICIdirect.com automatically emails a contract note, TOC (Trade Order Confirmation) and the customers Demat account statement. This saves time, costs and increases the convenience of trading with ICICIdirect.com. Customers get a single statement from ICICI Bank that has a single unified view of customers multiple relationships with the bank such as current/savings accoun t, credit cards, loans, wealth management, online trading etc. This simplifies t he relationship for the customer and the bank as both are better able to analyse and understand the status of their account information without having to toggle across multiple screens and reports. The bank saves on print and postal costs as a single consolidated statement acro ss the customers many relationships with the bank are dispatched to the customer . The customer does not have to deal with multiple statements that come from dif ferent entities of the bank, that need to be tracked and paid at different dates and to different entities. All customer account information for their multiple relationships is centralised to bring efficiencies in customer service, maintenance, training and support co sts. Customers get timely delivery of their statements via different channels for the ir convenience like email, web, print, fax etc to enhance their customers bankin g experience thereby saving costs and time. The system enables seamless customer account management for the bank and online transaction tracking for the brokerage. Customers are prompted to access their a ccount information online, thereby reducing the calls to the call center and bra nch offices. Time and cost saving in producing, printing and dispatch of unified statements across multiple channels are the leading innovations to SEEinfobiz s C LICK PSS solution.

ICICI bank car loan india

ICICI bank offering loan for 'Nano' The 'Nano' phenomenon has opened up a new category of borrowers - somewhere betw een borrowers for two-wheeler loans and cars loans, say bankers reacting to the Tata car launch. ICICI Bank is looking at offering personal loans along with a car loan for the N ano. "The Rs 1-lakh car has created a new segment of customers, who would typica lly fall into the middle-class or lower middle-class segment. The loan should, t herefore, not only cover the capital cost but also the running cost of the vehic le as it will otherwise be difficult for customers to meet the monthly expenses arising out of the car," Mr Ravi Narayanan, Group Business Head, Vehicle Loans, ICICI Bank. With the volumes of the Rs 1-lakh car expected to pick up, the four-wheeler shar e of auto loans could increase over the next three to four years. This will push banks to design products to meet the changing customer profile, operating cost and logistics requirement, Mr Narayanan added. The interest rate on loans for Nano is likely to be higher than the rate for oth er cars but lower than the rate on two-wheeler loans. Similarly, the tenor of th e loan may fall in between that of a car loan and a two-wheeler loan. Currently, interest rates on car loans and two-wheeler loans range from 12-14 per cent and 18-22 per cent respectively. While the tenor of a car loan is around five years , it is around two years for a two-wheeler. ICICI BANK launches - NRO FD Plus

ICICI Bank, India's second largest bank, today launched a new Non-Resident Ordin ary (NRO) deposit feature, NRO Fixed Deposit Plus (NRO FD). This new feature int roduced by the Bank's NRI Services division will enable NRI's to maximize their post tax yield on NRO FDs. With this, ICICI Bank has made available the benefit of concessional rate of Tax Deducted at Source (TDS) under the Double Taxation Avoidance Agreement (DTAA) a s a standard product feature to its NRI customers. ICICI Bank will offer this fe ature initially to NRI's from countries such as the US, UK, Canada and Singapore . Mr. Manish Misra, Head - NRI services and Remittances, ICICI Bank, said "Fixed D eposits have a steady place in any asset allocation mix. In a well-balanced asse t allocation strategy, the share of such investments will be in double digits. A nd, depending on the risk profile of the investor, this may vary from 5%- 50% of the portfolio. In the current scenario, bank deposits offer one of the safest, convenient and yet an attractive investment option for all. For NRIs, Non Reside nt (Ordinary) bank deposits generate the best guaranteed rupee returns". EDB ties up with Reliance Insurance and ICICI Prudential To provide better banking and investment facilities to rural masses of the valle y, Elaquai Dehati Bank (EDB) has tied-up with Reliance general insurance and ICI CI prudential life insurance for distribution of their products. While speaking about the policies of the bank at the inaugural ceremony of first computerised b ranch of EDB at Wazir Bagh, Chairman EDB Ahmadullah Tak said "Although there are so many banking facilities available in our valley these days but surprisingly 60 percent of population do not have accounts in any of the banks and a large ch unk of this population belong to rural areas. Our aim is not to sell just products to these people but to offer them individua l solutions where they would find better options of investment and to ensure pro per counselling, we have tied-up with ICICI prudential and Reliance general insu rance." The chairman said that the bank has presently hundred solutions to offer and the money deposited by the customers is channelled through local investments to ben efit local investors and customers. ICICI car loan offered at very low rate of i nterest and exclusive repayment schemes. "We always look forward to introduce new products or what we call as solutions i n our banking jargon and presently we have some hundred solutions to offer our c lients. Check out the latest news on icici bank car loan india... * Home & car loans to cost more as RBI raises rates - mydigitalfc.com Home & car loans to cost more as RBI raises rates mydigitalfc.com Brace fo r higher EMIs on home, car and personal loans as banks raise lending rates, taki ng cue from the RBI, which raised ... and more » - 9 days ago * ICICI Q3 Net jumps 77.5 pc to Rs 2039 cr - Oneindia Reuters India ICICI Q3 Net jumps 77.5 pc to Rs 2039 cr Oneindia Credit dem and has come from all the segments includingcorporate and retail mainly housing and car loans, she said,adding "as of now we are not doing ... ICICI Bank Profit Up 31%Wall Street Journal all 313 news articles » - 11 days ago * Auto loans likely to get expensive next month - CarTradeIndia.com (press r elease) (blog)

Auto loans ease) (blog) The of India (SBI), hike of ... and

likely to get expensive next month CarTradeIndia.com (press rel country's leading car loan providers including HDFC, State Bank Kotak Mahindra Prime, are expected to announce an interest rate more » - 8 days ago

ICICI Bank's goon doing the recovery work Pune district consumer disputes redressal forum has ordered ICICI Bank to cough up Rs 1 lakh compensation to a woman for not following due legal procedure while seizing her car after alleged default in payment. The bank has been accused of sending recovery agents to housewife Renu Bhandwalkar's home and damaging her ca r. The order comes close on the heels of a Rs 55-lakh fine slapped on ICICI Bank by the Delhi state consumer disputes redressal commission on November 5 for trying to recover a vehicle loan by hiring goons. The Pune forum, in its order last month, observed that Bhandwalkar had kept a de posit of Rs 58,000 with the bank and given instructions to transfer it to her sa vings account if her account did not have sufficient balance to clear the cheque s of equated monthly installments against the loan. ICICI Bank: fined 50 lakhs for employing goons The Delhi Consumer Commission fined ICICI bank a whopping fine of Rs 50 lakh for employing "goons" to recover loan and deplored the practice of the banks intimi dating consumers to pay the installments. In the significant judgement, the Commission deprecated the "audacity and impuni ty" with which the banks have been effecting forcible possession of vehicles and ordered ICICI also to pay Rs 5 lakh to a consumer, who was mercilessly beaten b y the recovery agents while they snatched a loaned car from him. "No civilised society governed by rule of law can brook such kind of conduct," t he Commission's President Justice J D Kapoor said, adding the violent methods ad opted by the recovery agents were serious violation of "human rights". Easy Finance for Owning a New or Used Car Buying a car in these days has become a lot easier since there are plenty of len ders in the marketplace, ever willing to offer a car loan. So either you want to buy a new car or a used one, car loans are available with ease for any type of borrower. Car loans are categorized under secured or unsecured loans. You should choose th e options as per your requirements and circumstances. If you are buying a high p riced new car, then secured car loans can give you greater amount depending on v alue of property you pledged as collateral. The very car you are buying also can be placed as collateral. However the lender will not approve a loan that is gre ater than the price of the car. The biggest advantage of secured car loans is it s lower interest rate which ensures lower monthly payments for the loan installm ents. Now ICICI Bank offer car loan which comes in your dream. don't just wonder of it go and check out the cheap rates offered by them for saving your pockets. Unsecured car loans are suited best to tenants or non-homeowners. Unsecured car loans are approved without collateral and so the loan is of no risks for the bor rowers. You would be given a smaller amount under unsecured car loans. However u

nsecured car loans carry higher rate of interest. ICICI Pofits more from Loans ICICI Bank, India's second-biggest bank by assets, said second-quarter profit ro se 33 percent as it earned more from car loans, home loan, personal loan and fin ancial products in Asia's third-biggest economy. Net income increased to 10 billion rupees, or $252 million, in the three months to Sept. 30, from 7.55 billion rupees a year earlier, the bank told the Bombay S tock Exchange on Friday. That is higher than the 9.3 billion rupees median estim ate of five analysts surveyed by Bloomberg. "Banks are posting good earnings on higher fee income and by exercising pricing power by cutting deposit rates and raising lending rates," said Navneet Munot, w ho helps manage about $8 billion at Birla Sun Life Asset Management in Mumbai. " Loan demand from companies seems to have offset any slowdown in demand from indi viduals." RBI helps ICICI Bank get back to school ICICI Bank wants to teach banking to schoolchildren, in fact to anyone who wants to learn. And its main muse for this cause was the Reserve Bank of India, which has been exhorting banks to educate the public about the basics of banking. Hen ce, when ICICI asked for help, the RBI was more than willing to don the role of publisher and teacher for the cause. Last week, Disha, the NGO front of the bank, launched the first of the series of its school comic books on banking. And RBI was in full force at the release. Sa id RBI's general manager, Kamala Rajan, "This is one venture which has been done totally in-house starting from the animation done in the book to the text and i deas." Is it good to go for floating rate car loan? ICICI Bank recently announced the introduction of floating rate car loan - a fir st among the banks that are very active in car loans. Floating rate option till now was available only for the longer tenure home loan s. But is it a viable option for the short tenure - 3 to 5 years - car loans? First, let us look at the interest rate differential available between the float ing rate and fixed rate car loan offered by ICICI Bank. The differential is only 50 basis points (100 basis points make 1 per cent). That is, if you can get a f ixed rate car loan from ICICI Bank for 14 per cent, then if you are opting for a floating rate, you could get the loan for 13.5 per cent. Repayments for car loans become easy with ICICI Bank ICICI Bank has decided to offer floating rate loans to purchase cars and commerc ial vehicles. It will be the first in the country to offer a floating rate repayment product f or car loans, commercial vehicles, construction equipment and professional equip ment loans. The move is designed to attract customers at a time when interest rates have sta rted showing signs of peaking out. The private sector bank is the market leader in the car loan segment with a shar

e of around 30 per cent. However, like others in the sector, ICICI Bank has seen fewer customers queueing up for car loans because of the high interest rates. ICICI BanK: Lending rates Don't see to come down in next 6-8 months V Vaidyanathan, Retail Head, ICICI Bank, said, the bank has seen lower consumer demand across the board due to higher rates and supply side constraints. Auto de mand is down to 12-13% while two wheelers have seen degrowth of 13%, he said. He expects a 20% loan growth for banks in FY08 as against 28% last year. Vaidyan athan doesn't see an impact on bank margins going forward. "Growth of banks' bal ance sheets may get affected due to loan degrowth." Vaidyanathan doesn't see lending rates coming down for the next 6-9 months. "RBI is still signaling a tighter monetary policy despite lower IIP numbers. Inflati onary worries signal a flat interest rate scenario." Car loan just a swipe away ICICI Bank announced a new initiative in its car loans segment called LOTS (loan on the spot) for its existing savings account customers. Those aspiring to purchase a car under the new initiative of the bank need to ha ve a savings bank account with the facility of a debit card to get the pre-appro ved offer from the bank. ICICI Bank General Manager and head, retail assets, Rajiv Sabharwal said :''With the boom in the country's economy, there is a sudden spurt in the demand for ne w cars and hence we've launched this offer to facilitate our customers to have a car. The bank has started the initiative in a few cities, namely Mumbai, Delhi, Kolka ta, Chennai, Hyderabad, Bangalore, Pune, Ahmedabad, Chandigarh and Jaipur at the moment, but would soon extend the offer to more than 20 cities. ICICI Bank's Head of Car & Commercial Vehicle Loans N.R. Narayana said :''We hav e put separate swipe machines at the dealers' shops for the purpose for the time being to avoid confusion.'' However, the existing swipe machines are equipped w ith this facility, he added. India's ICICI Bank net rise 25 pct, meets f'cast India's second-largest lender, ICICI Bank (ICBK.BO: Quote, Profile , Research), reported on Saturday a 25 percent rise in quarterly net profit, meeting forecast s and helped by growing demand for loans in the expanding economy. "We do see a little slowdown there because of the interest rate where they are a nd the property prices being high," Chief Financial Officer, Vishakha Mulye said . ICICI Bank, which had an overall credit growth of 35 percent, has seen a slowdow n in its mortgage and auto loans business, she said. Maruti's Profit Gains on Indian Demand for SX4, Swift Cars Maruti Udyog Ltd., maker of half the cars sold in India, reported profit grew fo r a 16th consecutive quarter as it introduced new models. ICICI Bank Ltd., India's largest lender, have tied up with the carmaker to offer loans to customers in towns and villages, where credit wasn't previously availa ble, to boost vehicle sales

he carmaker, 54 percent owned by Suzuki, plans to invest as much as $2 billion b y 2012 to produce new cars and expand capacity. That may help take on competitio n from minicars of General Motors and hatchbacks from Volkswagen AG and Nissan M otor Co. Interest rate hike hits car loan off take Car loan offtake is facing a lull in March due to increase in interest rate by 1 % and withdrawal of incentives like free insurance to buyers after the budget. This is the first time in three years that the rate has been hiked by 1%. It was also hiked last year but only by 25 to 50 basis points (100 basis points = 1%). "The market did not grow as per the expectations after budget but we expect it t o improve by the month-end," sources in ICICI Bank said. Eligibility Terms for your Car Loan from ICICI... With ICICI Bank Car Loans, you can avail of Car Loans as well as Car Overdraft L oans as per your needs. Our eligibility criterion is given below for the two dif ferent types of loans as per your occupation. Age Criteria : ->Salaried Individual : The applicant should be atleast 21 years old at time of application, and below 6 0 years of age at time of maturity of the loan ->Self-Employed Individual : Any Proprietor, partner, professional or director above 21 years of age but belo w 65 at the time of the loan's maturity ->Partnership Firm : - - - ->Private / Public Ltd Co : Limited companies should have been in existence for at least 2 years Income Criteria : ->Salaried Individual : Gross annual salary above Rs 1 lakh p.a ->Self-Employed Individual : Gross annual income above Rs 60,000 ->Partnership Firm : Firm should have a minimum PAT (profit after tax) income of Rs 60,000 ->Private / Public Ltd Co : Minimum PAT (profit after tax) of Rs 60,000