ICICI Bank: The Complete Banker
One of the Big-Four Banks of India, the ICICI Bank was established as a wholly owned subsidiary of The Industrial Credit and Investment Corporation of India in 1994, and the two were merged in 2002 along with ICICI’s two retail finance subsidiaries, ICICI Personal Finance Services and ICICI Capital Services Limited. The ICICI Bank is now the country’s second largest bank by assets, with 2,752 branches and 8,003 ATMs in India, subsidiaries in UK, Russia and Canada, branches in US, Singapore, Hong Kong, Bahrain, Qatar etc and representative offices in China, Bangladesh, South Africa, Thailand, Malaysia, Indonesia and UAE.
The ICICI Bank provides diversified financial services and products to a huge base of retail and corporate customers, through a variety of delivery channels and subsidiaries like the ICICI Lombard, ICICI Securities, ICICI Prudential Life Insurance Company, ICICI Venture, and ICICI Home Finance etc. It’s products include a variety of accounts and deposits, loans, cards, forex services, mutual funds, Insurance, Demat, Agri Banking, IPO, Government Banking, Wealth Management, Project Finance, Merchant Banking along with personal finance tools like Debt planning, Investment Planning, Risk Appetite Assessment etc.
ICICI Bank has also contributed to set up the financial infrastructure in India, by playing a huge role in setting up of financial institutions like The National Stock Exchange, Credit Rating Information Services India Limited (along with UTI), National Commodities and Derivatives Exchange Limited (along with LIC< NABARD, Canara Bank, PNB etc), Credit Information Bureau of India Limited, and many more. The bank has also promoted causes like “Read to Lead”, an initiative for education for underprivileged children and “Go Green”, an initiative to build awareness about the environment.
The ICICI Bank values its customers’ satisfaction above all, and has a 24 hour ICICI Bank Customer Care division active to ensure that best banking practices are followed for each customer. To keep all processes and services simple and transparent, ICICI Bank has set a code of commitment to its customers, available on the website, which details all policies followed by the bank in its dealings and operations and offers customers information and protection. The bank has launched “Khayaal Aapka”, for receiving customer feedback and to address any queries instantaneously online.
In case any of the customers is dissatisfied with the service or products, the bank has a detailed Grievance Redressal Policy that ensures timely and transparent response to all complaints against ICICI Bank. Customers can contact ICICI Personnel online, on phone, through Emails or at any branches to register a complaint. All ICICI Bank Complaints are responded to within a time frame of 30 days. The bank has a standing committee on customer service which ensures implementation of various customer service guidelines as directed by the RBI and BCSBI. With its innovative approach to customer service and ensuring best banking practice, along with its dedication towards Corporate Social Responsibility through the ICICI Foundation, ICICI is a complete banker, and truly deserves its top position in financial services sector in India.
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