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Project: 3 -Module: 1 - Internet Banking by ICICI Bank Ltd
A Success Story
(by MS. KG Lakshmi, PG Student, IIPM, Mumbai)

Table of Contents


  1. Module: 1 - Introduction

  2. Module: 2 - About ICICI Bank Ltd.

  3. Module: 3 - Advent of Technology Usage by Banks in India

  4. Module: 4 - ICICI Infotech Services Private Ltd

  5. Module: 5 - Advent of Internet Banking

  6. Module: 6 - Advent of Internet Banking in India

  7. Module: 7 - - Internet Banking by ICICI Bank Ltd. - Personal Banking

  8. Module: 8 - - Internet Banking by ICICI Bank Ltd. - Corporate Internet Banking

Module: 1 - Introduction - Page: 1 of 1


The Focus - A Symbol of New India

An organisation functions as an integral part of a system or a group. It has to accept the discipline and regulatory ethics of the system/group. It has also to compete within the group and strive to excel in its performance. An organisation also operates with in a social, economic and political environment. It has to understand and co-relate to the opportunities provided and threats emanating from the environment. The miracle progress of ICICI Bank Ltd. within a short time of its onset can be better understood through a focus of these two factors.

ICICI Bank is a symbol of the post reform era of Indian Banking. It represents the thrust and dynamism of the new Indian mind. Technology driven banking and product diversification to maintain competitiveness and to ensure customer delight are the new mantra of today's globalised business. ICICI Bank, in this respect, represents the synergy of intellectual assets backed by technology support. The cream of the officers of ICICI is young and dynamic professionally qualified executives dedicated to the betterment of the organisation. The example of ICICI needs to be followed extensively by others members of the banking community.

The phenomenal business growth and product diversification leading to ascending the lofty position of No.2 in the Indian Banking Scenario achieved by ICICI Bank Ltd., within a decade of its incorporation overtaking nationalised banks that are established and operating for about a century in the country can be termed as a banking miracle. This miracle has been made possible due to -

  • Advent of liberalised banking regime in India after the Banking & Financial sector reforms.

  • Use of technology in every sphere of banking operations by the Bank from the very beginning to provide for the highest per-employee business turnover and profitability.

This article studies in depth the provision of Internet Banking by ICICI Bank Ltd. to an extent unsurpassed by any other domestic banks in India. But to understand this phenomena it is necessary to study the structure and environment under which ICICI Bank Ltd. came to be established and the new policy ambience under which Indian Banks accepted wholesale computerisation of their operations within the individual branch/office, inter-branch/inter-office operations and inter-bank operations since the middle of Nineties. While other banks are still in the middle of this process shifting from manual to the new order, ICICI is born and bred in the new spirit of today's globalised technology driven banking.

The face of Indian Banking underwent revolutionary changes with the advent of Financial and Banking Sector Reforms initiated since 1992. The era of controlled and directed banking was replaced by deregulated banking institutions competing among themselves and trying hard to woo the customer. The reforms in India, in the first phase has provided necessary platform to the banking sector to operate on the basis of operational flexibility and functional autonomy, thereby enhancing efficiency, productivity and profitability. The reforms brought out structural changes in the financial sector, eased external constraints in their working, introduced transparency in reporting procedures, restructuring and recapitalisation of banks and have increased the competitive element in the market.


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