SREEHARI ABHILASH I MBA, Sec-D, Roll No.25SMB321 Sathyabama Institute of Science

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SREEHARI ABHILASHI MBA, Sec-D, Roll
No.25SMB321Sathyabama Institute of Science
TechnologyDeemed UniversityChennai 600
119(sreehariabhilash_at_yahoo.co.in)
A MARKET RESEARCH SURVEY ON STUDENT SERVICES
RENDERED BY ICICI BANK BANK _at_ CAMPUS ACCOUNT
BY
01.08.2005 - 18.08.2005
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Sri.Vijayachandran.
Sri. V. Binu RajCustomer Acquisition Team
Sales ManagerICICI Bank
Ltd., Thiruvananthapuram, Kerala State
PROJECT LEADERS
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ACKNOWLEDGEMENTSSri.Vijayachandran.V, Customer
Acquisition Team, ICICI Bank Ltd.,
TrivandrumSri.Binu Raj, Sales Manager, ICICI
Bank Ltd., TrivandrumDr.Sreenath MD, Warden of
Mens Hostel, Govt. Medical College,
TrivandrumSmt.Radhamoni, Principal, LBS
Institute of Technology for Women, Poojapura,
TrivandrumSri.P.R.Sreemadhavan Pillai,
Principal, SCT College of Engineering,
Pappanamcode, TrivandrumSmt.Esther Jayanthi,
Principal, All Saints College for Women,
TrivandrumAll students participated in the
survey.
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INTRODUCTIONBanking is
commonly used word in our day to day life. The
banking institutions are changing round the clock
in order give maximum benefits to their customers
in this competitive world. Converting
non-customers into customers is the biggest
challenge in banking sector just like any other
sectors. But in banking, retaining the customers
without excusing quality of service is found
difficult. Among the new generation private
sector banks, ICICI Bank Limited is found as a
forerunner. It renders a bunch of services and
various kinds of accounts other than what is
usually seen in the scheduled banks in
India.This is the first time, a bank is coming
out with a special package exclusively for
college students. So a study on market potential
of Bank _at_ Campus A/c of ICICI Bank Limited is
why undertaken.
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COMPANY
PROFILEICICI Bank is India's second-largest
bank with total assets of about Rs.1,67,659 crore
at March 31, 2005 and profit after tax of Rs.
2,005 crore for the year ended March 31, 2005
(Rs. 1,637 crore in fiscal 2004). ICICI Bank has
a network of about 560 branches and extension
counters and over 1,900 ATMs. ICICI Bank offers a
wide range of banking products and financial
services to corporate and retail customers
through a variety of delivery channels and
through its specialised subsidiaries and
affiliates in the areas of investment banking,
life and non-life insurance, venture capital and
asset management. ICICI Bank set up its
international banking group in fiscal 2002 to
cater to the cross border needs of clients and
leverage on its domestic banking strengths to
offer products internationally. ICICI Bank
currently has subsidiaries in the United Kingdom,
Canada and Russia, branches in Singapore and
Bahrain and representative offices in the United
States, China, United Arab Emirates, Bangladesh
and South Africa. - Source www.icicibank.com
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THE BANK _at_
CAMPUS ACCOUNT FEATURESBenefits to students-
Free Debit-cum-ATM Card Free Personalized
Cheque Book Free Internet Banking through
www.icicibank.com Free Phone Banking (All
Kerala Tel. No. 98954 78000) Free Supplimentary
Credit Card, if parent have an ICICI Credit Card
Free Annual Statement of Accounts Free
transfer of funds into Students A/c from any
ICICI Bank A/c.Benefits to parents- Free
transfer of funds from parents ICICI Bank A/c to
childs A/c. (Taking care of College Fees,
Tuition, Living Expenses, etc) If parent have
an ICICI credit card, he/she can give a
supplement credit card to son/daughter and even
specify pre-determined spending limit.Free
Internet banking includes - Downloading
detailed statement of accounts, view details of
all accounts maintained with ICICI Bank,
Transfer funds between your account and any other
ICICI Bank account, pay your utility bills
mobile, electricity and telephone bills, request
cheque book and demand drafts, request to stop
payment of cheque, report your lost debit cards,
open fixed and recurring deposits online, access
information on personal finance, computing the
internet, e-commerce, lifestyle etc., liaise with
your Account Manager, invest in mutual funds.
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Free Phone banking includes- Enquire about
balance, request a tele-draft, obtain
mini-statements, request a cheque book, request
to stop payment of cheque, intimate lost debit
card, transfer of funds between ICICI Bank
accounts.Eligibility- He/She should be a
student and of above 18 years of
age.Documentation- Verified True copy of
college ID card with PP-Size photograph of the
applicant attested by Principal/Vice
Principal/Head of Department of the college. The
college should be recognized by an Indian
University / Technical Body/ or a Deemed
University.Mandatory information to be provided
in account opening form includes-Basic details
like name, current permanent address, phone
no., Date of birth, nationality, residential
status, college and course particularly including
end date of the course, basic details of parents,
photograph and signature, expected international
transfer of funds in the case of foreign students.
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• FREQUENTLY ASKED
  QUESTIONS (FAQS)
• 1) How to open a Bank _at_ Campus A/c? (4 options)
• a) Apply online
• http//icicibank.com/pfsuser/icicibank/depositprod
  ucts/bank_at_campus/residentindianform.htm
• b) Walk into any ICICI Bank branch
• c) E-mail at info_at_icicibank.com
• d) Call ICICI Bank 24 hour customer care
  centre.
• 2) How much amount is needed to open the A/c?
• Rs.500/-
• 3) What is the minimum balance amount to be
  maintained?
• Minimum quarterly average balance of Rs.500/-
• 4) At what frequency the interest is paid to me?
• Interest earned on you balance is credited in
  your account on half yearly basis in
• the months of September and March.

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• 6) How to change the Nominee(s)?
• Nominee(s) can be changed by giving written
  declaration in appropriate form
• available in all the ICICI bank branches.
• 7) What are the different channels of accessing
  my account?
• a) Through www.icicibank.com
• b) Through ICICI ATMs
• c) Phone banking
• 8) What is the withdrawal limit from ATMs?
• Rs.25,000/day
• 9) What is the shopping limit using Debit card?
• Rs.25,000/day
• 10) How do we deposit in to the A/c?
• a) Through ICICI Bank ATMs (Cash or Cheque) by
  the student.

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• 
  OBJECTIVES OF STUDY
• Primary Objective
• To analyze the market for special savings
  account/ banking services for
• students.
• Secondary Objective
• To disseminate the information regarding benefits
  to student banking
• services.
• To know the willingness of students to open an
  account.

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• SCOPE OF STUDY
• The Market Research Survey of ICICI Bank
  Student Service
• Bank _at_ Campus A/c was undertaken only in
  Trivandrum City.
• The study covers 4 famous colleges which are
  spread over the
• Trivandrum City. Out of the 4, 3 are reputed
  professional colleges.
• 1. Govt. Medical College, Trivandrum (Mens hostel
  only)
• 2. LBS Institute of Science Technology for
  Women, Poojapura, Trivandrum
• 3. SCT College of Engineering, Pappanamcode,
  Trivandrum
• 4. All Saints College for Women, Trivandrum

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• SOURCES OF DATA
• Maximum efforts were taken to collect information
  from the students directly.
• Primary data -
• 1.Given structured questionnaires having 8 simple
  queries for the purpose of survey.
• 2. Directly interacting with students to answer
  their queries and doubts.
• 3. Explaining about the Bank _at_ Campus A/c
  features and advantages over other
• banking services.
• Secondary data-
• 1. Acquired from the bank officials, current
  customers, websites, etc.

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Bank _at_ Campus Questionnaire
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DATA REPORT USING PIE-DIAGRAM Based on the
filled-up Questionnaires
1. Have you heard about ICICI Bank?
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2. How many times in a month you visit bank (any
bank)?
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3. Are you really bored of standing in long
queues of scheduled banks (Ordinary banks)?
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4. Have you really interested in transacting
through ATMs?
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5. How much money you spend in a month for your
personal needs?
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6. Would you like to carry Cash or Card while you
go for shopping?
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7. Do you feel that a Bank Account is necessary
for a student?
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8. Do you need a Rs.500/- minimum balance Student
Account from ICICI?
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• 
  METHODOLOGY
• Random survey method using unique structured
  questionnaires to the students.
• Direct oral communication with students
  understanding their problems.
• Colleges covered is mentioned under Scope of
  study head.
• Tables, diagrams and basic statistical
  calculations used in this study.

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LIMITATIONS1) This survey is carried out only
in famous 4 colleges of Thiruvananthapuram city
region only.2) There were only 185 students
participated in the survey, i.e. 77 male students
108 female students.3) Random survey method
is been carried out in all colleges.4) As this
survey is made in college campus/hostel, there
were lot of restrictions to speak to distribute
questionnaire, pamphlet to students. So it is
undertaken at the time of interval for lunch
after college hours (when the students were
returning home).5) As most of the students are
teenagers, it is probable that some students have
filled up the questionnaire as it is meant for
playing purposes. It may result in wrong
result.6) As this survey is related with
subjects of money, banking, ATM cards etc most
students were hesitated to participate because of
fear. Majority opined that they are ready to
speak, but does not fill up any such
questionnaire. Some students participated in the
survey and filled up the questionnaire after
convincing them that there is nothing to worry
about.7)Bank _at_ Campus Account cannot be
operated by private candidates and students
studying other than university affiliated
colleges. Still majority of the students are
doing courses in private and autonomous
institutions for learning various trades.
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FINDINGS1) It was found that all most all the
students heard about ICICI Bank Ltd.2) Almost
45 of students visit bank (any bank with/without
their parents) once in a month 36 visit more
than twice a month. But 19 of the students still
not visiting bank even with their parents, hence
they are not aware about the banking practices.
Among the male students, those who are not
visiting bank is only 6.3) 85 of the students
are found not willing to stand in long queue
systems found in scheduled banks, which is an
utter wastage of time and effort.4) 93 of
students are interested in transacting through
ATMs. They are surprised to know that cash can be
deposited through ATMs of ICICI Bank.5) 54 of
students is found spending upto Rs.500/-, 18
between Rs.501/- and Rs.1000/- and 28 above
Rs.1000/-. The male students found spending
almost double of the female students.6) 53 of
the students wish to use Debit cards for
shopping, out of this male students is 65
female students is 44.
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7) 86 of the students collectively opine that a
bank account is necessary for a student. While
the male students rate the same to 96 and
female students to 80.8) 44 of the students
would like to open a Bank _at_ Campus A/c with
ICICI Bank Ltd. Male students rates the same to
51 and female students rate to 40.9) It was
found that majority of the students have account
where their parents maintain accounts, mostly
joint accounts with parent. Majority of these
students opened their accounts in SBT/SBI.10)
Students who are not maintaining any accounts
opine that they collect money on a daily or
weekly basis from their parents.11) Students
studying in professional colleges jointly said
that they can open a savings bank account in most
of the scheduled banks (especially in SBT) with
just Rs.100/- to Rs.300/- and can enjoy
Debit-cum-ATM cards. They are against of maintain
a minimum balance of Rs.500/-.12) A few
students already having Bank _at_ Campus A/c of
ICICI Bank Ltd. in Govt. Medical College Mens
hostel complained that hefty fines were imposed
on them as they could manage the minimum balance
of Rs.500/-
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13) ID cards of majority colleges do
not have course finishing date printed/written on
it. The students opine that it is difficult to
fill the account opening form without any help of
the bank officials and the formalities like
getting signature from the busy principal or vice
principal not easy.14) The students are not
aware of the banking practices, ATM operations,
legal issues of banking, etc.15) The students
think that ATM operation, usage of debit cards
for paying bills, shopping, etc are risky than
using currency. They fear of getting deficit
amount while withdrawing cash from ATM and hence
losing the actual amount they keys in the ATM
from their account.
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SUGGESTIONS
FOR IMPROVEMENT1) Easy and less formalities
should be implemented for opening Bank _at_ Campus
A/c. 2) The minimum balance should be made to
Rs.100/- which attracts more students.3) Branch
banking to be provided for students, as many
students have doubts regarding operation of
accounts which a security personal in an ATM
cannot solve.4) The fines for not maintaining
minimum balance to be lessen and fix at par with
that of scheduled banks.5) In order to attract
more students into the bank, the bank should
conduct seminars workshops in colleges and
surroundings regarding usual bank practices, ATM
operations, Internet Telephone banking services
and legal issues regarding the account and
account holder. Also the importance of creating
savings practices even at the time of their
college days.6) Creating a better name of the
bank among students will take the bank to greater
heights as once the students become employees,
businessmen, etc. In the future they make more
investments in the bank. In these days, there is
a high rising number of professional students
getting job in foreign countries especially in
the middle-east, Australia, UK, USA, etc. So
concentrating more in professional colleges
especially the nursing colleges across Kerala,
medical colleges, engineering colleges etc in the
city.
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7) The bank executives should be
reachable to students at times of need.8) To
attract and build more number of student
accounts, the bank should arrange seminars of
banking services to students in every residents
association in Trivandrum city as a social
service, but it is very beneficial to the bank in
the long run.9) Separate help desk to be
arranged in bank branches for student
services.10) Usually students open accounts in
the bank where parents maintain account or near
to their house or college. As ICICI Bank does not
have more branches in Trivandrum, it has to reach
students in the form of seminars and temporary
student help desk on banking services at their
college campus. Then only the word Bank _at_
Campus lives long. Because are several other
banks providing SB A/c and ATM facilities to
students for just Rs.250/- minimum balance which
is a tight competition.11) Qualified and
experienced executives to be put in these help
desks as they should be thorough with terms and
conditions of the account and ready to answer the
queries of the students.
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12) As scheduled banks gives more
interest on their savings to senior citizens,
ICICI banks should bring the concept of more
interest for students.13) Students studying in
private and autonomous institutions other than of
Indian / Deemed universities to be allowed to
open Bank _at_ Campus A/c. Still majority students
do short and long term courses in such
institutions in Kerala.14) There is no brochure
for Bank _at_ Campus Account found in the bank.
Hence, colourful and easy to understand pamphlet
to be introduced for supplying to students.
Attractive brochures may create a good impact of
the Bank /Account on students..
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CONCLUSION ICICI Bank proves to be an ideal
leading other banks by using latest
technologies and variety of services. The
students are expecting more beneficial services
from the bank such as educational loans, etc.
Students of all colleges accept ICICI Bank Bank
_at_ Campus Account as a good step into the students
services. As the first bank to introduce special
savings account for students, it should keep-up
the expectations of students by regularly
conducting surveys on student service and alter
services in favour of students. It is easy to
gain a fine position but harder to retain it.
Students are the building blocks of a
nation, In future, they mature to employees
business persons with
lots of money at ICICI Bank!
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Thank you!

• Please write your comments suggestion to The
  Researcher-
• Email Address sreehariabhilash_at_yahoo.co.in
• Website- http//www.geocities.com/sreehariabhilas
  h