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A STUDY ON CUSTOMER SATISFACTION ON DIRECT INVESTMENT WITH ICICI DIRECT

A PROJECT REPORT Submitted to the SRM SCHOOL OF MANAGEMENT In partial fulfillment of the requirement For the award of the degree Of MASTER OF BUSINESS ADMINISTRATION By Name: R.PRAVEEN Reg no: 35080411 Under the guidance of Mr.T.VIJAYAKUMAR Asst Professor SRM SCHOOL OF MANAGEMENT

SRM UNIVERSITY KATTANKULATHUR MAY 2010

BONAFIDE CERTIFICATE

Certified that this project title A STUDY ON CUSTOMER

SATISFACTION

ON DIRECT INVESTMENT WITH ICICI DIRECT Mr. R.PRAVEEN, Reg no: 35080411, who carried out the project under my supervision. Certified further, that to the best of my knowledge the work reported herein does not form part of any other project or dissertation on the basis which a degree or award was conferred on an earlier occasion on this or any other candidate.

SIGNATURE OF THE DEAN

SIGNATURE OF THE GUIDE

__________________________ (Mrs. JAYSHREE SURESH)

__________________________ (Mr. T.VIJAYAKUMAR)

Signature of the external examiner

_____________________________

DECLARATION

We hereby declare that this project work entitled A STUDY ON CUSTOMER SATISFACTION ON DIRECT INVESTMENT WITH ICICI DIRECT submitted at SRM School of Management studies is partial fulfillment of the requirement for the degree of Master of Business Administration is a record of original work done by use for Department Business Administration, SRM School of Management Studies. It has not been submitted to the award of any Degree/ Diploma / Associate ship/ Fellowship.

Place: Chennai Date:

Signature of the Candidate _____________________

ACKNOWLEDGEMENT

Im great pleasure to the almighty, for the blessing that he showed on me to complete this project work. I express my sincere thanks to Mrs. JAYSHREE SURESH, SRM School of Management, for having provided the opportunity and facilities for undertaking the present project work. It is with deep sense of great attitude that I wish to express my heart felt thanks to my guide

Mr. T.VIJAYAKUMAR ,asst professor of SRM for completing this project.


I owe a deep sense of gratitude to Mr. ARUN, HR, Who encouraged me in my work and spend his valuable time with me. I also would like to thanks to all the staffs of that company. I would like also like to express my thanks to my family and friends for their encourage and unbounded moral support to complete this project

CONTENT

Title I II III IV INTRODUCTION STATEMENT OF THE PROBLEM OBJECTIVE OF THE STUDY RESEARCH METHODOLOGY Scope of the study Research design Limitation of the study V VI VII VIII IX X COMPANY PROFILE DATA ANALYSIS AND INTERPRETATION FINDINGS SUGGESTIONS CONCLUSION BIBILIOGRAPHY

Page No. 01 03 04 05 05 05 08 09 26 44 45 46 47

ANNEXURE

48

INTRODUCTION

GENERAL INTRODUCTION
PHYSICAL CERTIFICATES - THE TRADITIONAL WAY
The Indian capital market has seen an unprecedented boom in its activity in the last decade. We can now boast of a very large investor population and substantial volumes of trade. However, this surge in activity has brought with it, numerous problems that threaten the very survival of the Capital market in the long run. A closer inspection of the problems would reveal that most of them arise due to the intrinsic nature of paper based trading and settlement. This century-old system of trading and settlement requires handling of huge volumes of paper leading to increased costs and inefficiencies. Simultaneously, they expose the investors to greater risks putting them at a disadvantage. Some of these areas are:

Unwarranted delay in transfer of shares. It takes 30 to 60 days for the investors to get the shares lodged in their name; Possibility of forgery on various documents leading to bad deliveries, legal disputes etc; Theft of shares leading to defective title in shares purchased and subsequent litigation; Prevalence of fake certificates in the market; Mutilation or loss of share certificates in transit; Increased transaction costs due to stamp duty, fake shares, rejection by registrars, etc.

This has made the investors, both retail and institutional, wary of entering the Indian capital market. In this scenario, it was felt that the getting up of a depository and the introduction of scrip less trading and settlement is imperative for the efficient functioning of the market.

The Indian capital market has witnessed numerous changes in the recent past. Historically stock market booms have always resulted in a number of problems for the lay investor. Sometimes, the problem may magnify them and threatens to engulf the entire capital market. A close introspection of these problems will reveal that most of them are due to intrinsic nature of paper based trading and settlement. All this may have driven away many potential investors and Foreign Institutional Investors. Dematerialization of shares is looked upon as the remedy for the paper based problems.

With effect from august 19, 1998 SEBI has granted certificate of registration of Central Depository Services (I) Ltd. (CDSL).

Yet even with demat, from the point of view of investors there are numerous problems. Here Wallet Watch introduces you to setting up of a demat account and introduction of scrip less trading and settlement. There are numerous benefits of this scrip less trading and settlement, which Wallet Watch has discussed in detail.

STATEMENT OF THE PROBLEM Online trading and Demat are the two emerging concepts in the stock market. It
involves personal factors, technical factors, business factors and economic factors. The interplay of these factors on stock market requires a deep study about the pattern process and procedures and performance. This study is intended to identify the various concepts about demat and the online trading and its way of functioning ICICI provisions are not exposing to its customers extensively. Hence in this report an attempt has been made to link the potential customers and the ICICI Direct .Com

OBJECTIVES OF THE STUDY


Study of ICICI Direct.com (online share trading) To analyse financial services and share holder of existing customers To analyse the Customers expectation in Trade related activities in ICICI To study the Customers perception with Trade services provided in ICICI To study the Trade related services provided by ICICI

RESEARCH METHODOLOGY

SCOPE OF THE STUDY:


Globalization of the financial market has led to a manifold increase in investment. New markets have been opened; new instruments have been developed; and new services have been launched. Besides, a number of opportunities and challenges have also been thrown open.

RESEARCH DESIGN OF THE STUDY

The study is based on survey technique. The study consists of analysis about customers awareness and satisfaction of ICICI Capital Ltd. For the purpose of the study customers 100 are picked up and their views solicited on different parameters. The methodology adopted includes Questionnaire Random sample survey of customers Discussions with the concerned Personal interviews and informal discussions were held with ICICI Capital Ltd. customers to ascertain the awareness and satisfaction level. Further applying simple statistical techniques has processed the data collected. The entire study is based on Descriptive methodology.

SOURCES OF DATA:
Primary data: Questionnaire Secondary data: are published materials such as periodicals, journals, news papers, and website. The gathered information is plotted in I-sec ( ICICI securities ) journals, And certain other datas from ICICI intranet news .

SAMPLING PLAN:
segment wise investors in ICICI Capital Ltd. are not available for the overall customer was considered for the study. 100% coverage was difficult within the limited period of time. Hence sampling survey method was adopted for the purpose of the study.

Sampling Procedure Sampling Size: A sample of hundred was chosen for the purpose of the study. Sample considers of small investor, large investors and traders of ICICI Capital Ltd.

Sampling Methods: Probability sampling requires complete knowledge about all sampling units in the universe. Since due to time constraint non-probability sampling was chosen for the study. Convienient sampling has been followed for this study.

Field Study: directly approached respondents

DATA COLLECTION INSTRUMENT COLLECTION OF DATA THROUGH QUESTIONNAIRES:

The data collected for the study purpose is through questionnaires. Hundred customers of ICICIdirect.com have been selected randomly for the study purpose and then the information revealed from the customers is analyzed and interpreted in the study.

ORGANISATION OF FIELD WORK

Initial field work has done for pre testing tools for data collection. The data is collected through the direct interaction with the ICICIs customers through questionnaires answered by them. hundred customers of ICICI were randomly chosen for the purpose

LIMITATION OF STUDY
sample size is Low. Since segment wise investors is not available in ICICI Capital Ltd. Overall concept is taken for the study. Information is partly based on secondary data and hence the authentic of the study can be visualized and is measurable. Level of accuracy of the results of research is restricted to the accuracy level with which the customers have given their answers and the accuracy level of the answers cannot be predicted

5. COMPANY PROFILE:
INTRODUCTION ABOUT THE COMPANY
Even as the European and American stock markets reckon with the changes brought about by the Internet and IT/telecom advances, the Indian stock market has quickly moved to global standards. The sheer breadth of the changes since the National Stock Exchange started operations in 1994 and with the Securities and Exchange Board of India (SEBI) also driving the changes in the market system, have enabled the Indian market to move well ahead in just five years. Even as online automated trading and better clearing and settlement mechanisms have been put in place, perhaps, the most significant change in the Indian market has been the coming of paperless trading; it may well be a precursor to the next big changes rolling settlements and Internet trading. But the push towards paperless trading stands out even in a decade when the market landscape has changed beyond recognition. Dematerialisation (holding and trading securities in paperless mode) was an alien concept in India before 1995; in five years, large quantities of paper have been flushed out of the system. Since the entry of the foreign institutional investors (FIIs) and online trading, the old system, laden with paperwork at every conceivable stage, was out of place in an otherwise fast trading environment. As the FIIs complained about the paperwork as a major constraining factor, the government and SEBI took notice. The requisite legislative changes were put in place quickly - the Depositories Act, 1996 was passed and the NSE, with the UTI and the IDBI, set up the National Securities Depository Ltd (NSDL). But the depository concept did not gain popularity; the FIIs which had clamoured for its introduction, now ignored it. The reason: Lack of liquidity. But, unless the

institutional investors stepped in, there could be no liquidity. This stalemate frustrated the push for a paperless environment. The costs of dematerialisation have declined as the NSDL slashed charges as volumes expanded and the competition _ from the Central Depository Services Ltd (CSDL) floated by the BSE _ started in 1999 second half. A series of measures by SEBI and NSDL also helped ease the strain faced by retail investors. From a long-term perspective, demat in India is of considerable significance. Not only has the general trading environment improved and quickened, volumes too have perked up, even in the demat segment. With demat taking off, there is now scope for an improvement in the quality of investor services. As a consequence of dematerialisation, the Indian market is also well prepared for web-based trading though the quality of telecom infrastructure and inadequacies in the banking system-stock exchange linkages may cause delays. Notably, with regard to the thrust towards paperless trading, the Indian market managed in three years what took even the US much longer.

HISTORY OF THE ORGANIZATION:


The dematerialized form of shareholding and the depository mode of trade (scrip less trade) have been in operation in developed financial markets for over 15 years. In India, the first depository commenced operation a decade back and is relatively new. The Indian financial market is in need of both scrip-based and scrip less trade, but the investing community, which is used scrip-based trade, is bound to take some time to accept the latter. The scrip less trading, till now a domain of the western world, institutional investors and GDR holders is now mandatory even for small investors. All those who hold physical share certificates have to get them dematerialized. If they do not, they will be forced to do so at the time of sale. The countless numbers of conservative Indians have to digest it, whether they like it or not. First, the institutional investors succumbed. Then the high net

worth individuals, trading in more than a certain numbers of shares, were forced to give in. now, it is the turn of the small investors of select-companies.

Companys Vision:

To make ICICI Direct the dominant online share trading by world class people and services.

This we hope to achieve by:


Understanding the needs of customers and offering them superior product and service. Leveraging technology to service customers quickly and conveniently. Developing and implementing superior risk management and investment strategic to offer sustainable and stable return to our shareholder. Providing and enabling environment to foster growth and learning for our employees

Companysmission:

To judged by their sales and earnings growth rates than on the absolute value of their sales and earnings. Look for companies that consistently grow faster than there peers. Investors prefer companies that increase profit margins -- the percentage of sales that they keep -- every year. This is accomplished either by lowering expenses or raising prices. Look for companies that consistently find ways to squeeze more profits out of sales than their peers. The financial health of a company is dependent on a combination of profitability, short-term liquidity and long term liquidity. Companies, which are profitable, but have poor short term or long term liquidity measures, do not survive the troughs of the trade cycle

PRODUCT PROFILE

DE-MAT

The dematerialized form of shareholding and the depository mode of trade (scrip less trade) have been in operation in developed financial markets for over 15 years. In India, the first depository commenced operations a decade back and is relatively new. The Indian Financial Markets is in need of both scrip-based trade, but the investing community, which is used to scrip-based and scrip less trade, is bound to take some time to accept the latter. The scrip less trading, till now a domain of the western world, institutional investors and GDR holders is now mandatory even for small investors. All those who hold physical share certificates have to get them dematerialized. If they do not, they will be forced to do so at the time of sale. A process by which the physical certificates of an investor are taken back by the company registrar and actually destroyed and an equivalent number of securities are credited in the electronic holdings of the investor. Offers services to clients dealing in Government securities through the SGL A/C. besides holding the securities, ICICI Capital Services Ltd. Provides records update based on the transactions made by the clients. Collects and credits the benefits and proceeds from sale to the clients account; and Supplies periodical reports on the transactions and holding of the clients.

TRADING:

Next function activates when an investor buys or sells in the market.

Buying:

1. An investor gets order executed and makes payment to the broker.

2. Investor instructs his Depository Participant to expect credit on settlement day. Broker instructs his DP to debit his Clearing Member account on settlement day.

3. Before settlement day Broker makes payment to clearinghouse through Clearing Bank.

4.On settlement day Clearing house releases shares to brokers Clearing Member account which is then transferred to investors account through NSDL (National Securities Depository Limited). Investor gets credit in his account.

SELLING:

1. An investor gets order executed.

2. Investor instructs his Depository Participant to debit his account with immediate effect. The shares move from investors account to Brokers Clearing Member account via NSDL. A Broker clearing member accounts is credited.

3. Before settlement day broker transfers shares from his clearing member account to Clearinghouse via NSDL. His account is debited.

HOW CAN ONE OPEN AN ACCOUNT IN DEMAT?

First an investor has to approach a DP and fill up an account opening form. The account opening form must be supported by copies of any one of the approved documents to serve as proof of identity (POI) and proof of address (POA) as specified by SEBI. Besides, production of PAN card in original at the time of opening of account has been made mandatory effective from April 01, 2006. All applicants should carry original documents for verification by an authorized official of the depository participant, under his signature. Further, the investor has to sign an agreement with DP in a depository prescribed standard format, which details rights and duties of investor and DP. DP should provide the investor with a copy of the agreement and schedule of charges for their future reference. The DP will open the account in the system and give an account number, which is also called BO ID (Beneficiary Owner Identification number).

ORGANIZATION STRUCTURE

PROFILE OF THE ORGANISATION

DEPARTMENT/FUNCTIONAL AREAS
Infrastructure financing, corporate financing and retail have been the strong pillars of ICICI's growth. They expect these to remain thrust areas in the future too. The financial institution sees significant opportunities in the power sector, and in the rapid de-regulation of the Telecom sector. On the retail side, ICICI has established a retail franchisee through a physical presence across 42 cities. Its retail thrust has been on the planks of technology enabled low cost distribution channels like the Internet, Call centers and ATMs. It occupies the number one position in automobile financing (over 20% of the market share), number one in credit cards on an incremental basis. It also has a growing presence in home finance and on-line trading.

ICICI BANK

ICICI Bank is a commercial banking outfit set up by the ICICI Group. The Bank was registered a banking company on January 5th, 1994 and received its banking license from the Reserve Bank of India on May 17th, 1994. The Bank has an authorized capital of INR 300crore (USD 75.96 million), of which subscribed and paid-up capital is INR 165 crore (USD 41.78 million). The first ICICI Bank branch was started in Madras in June 1994. The branches are fully computerized with state-of-the-art technology and systems. All of them are fully networked through V-SAT (Satellite) technology. The Bank is connected to the international SWIFT network since March 1995. ICICI Bank offers a wide spectrum of domestic and international banking services to facilitate trade, investment, cross-border business, and treasury and foreign exchange services. This is in addition to a whole range of deposit services offered to individuals and corporate bodies. ICICI Banks Infinity was the first Internet banking service in the country, and a prelude to banking in the next millennium. Currently the Bank has around 150,000 customers

ICICI SECURITIES AND FINANCE COMPANY LIMITED


Formed in 1993 when ICICIs Merchant Banking Division was spun off into a new company, I-SEC today are Indias leading Investment Bank and one of the most significant players in the Indian capital markets. Its client list includes some of the best known, most respected names in Indian business and industry, and I-SEC offers them what are probably the widest, most in-depth range of services in the market, with the highest standards of professionalism. Backed by a strong distribution network, I-SEC is acknowledged to be at the forefront of all new developments in the Indian debt market. I-SEC Research Reports, Compendia, Updates, I-BEX and sovereign Bond Index, have become industry standards, sought after by finance, business and reputed publications alike. The Project Finance Group has helped take strategic projects from the drawing board to financial closure, leveraging the expertise of parent organization. I-SEC has also executed several assignments in M & A, including business valuations, spin-offs and mergers, for both domestic and overseas clients. The range of products offered by i-SEC includes:

Corporate Finance Mergers and Acquisitions, Equity, Bidding (especially for Telecom Projects)

Fixed Income Primary Dealership, Debt Research

Equities Lend management, Underwriting, Syndication, Private Equity placement, Sales, Trading, Broking, Sectoral and Company Research I - SEC Continues to sustain a steady rate of growth by offering the most extensive range of services combined with unrivalled standards of professionalism.

ICICI BROKERAGE SERVICES LIMITED

Set up in March 1995, ICICI Brokerage Services is a 100% subsidiary of I-SEC. It commenced its securities brokerage activities in February 1996 and is registered with the National Stock Exchange of India Limited and The Stock Exchange, Mumbai. We are a joint venture between ICICI and the leading financial services provider in India, and prudential plc of U.K., one of the finest Life insurance companies in the world. Together we provide you with an extensive range of insurance products to suit your various needs at various life stages. We aim to keep you covered, at every step in life. Their policies are need-specific and address particular age groups. This means that no matter where in life you are, we offer specific products to suit your needs for savings, protection and retirement. Our products can be categorized into the following:

Saving plans Protection plans Retirement plans

ICICI PERSONAL FINANCIAL SERVICES LIMITED


ICICI Personal Financial Services Limited (ICICI PFS), formerly ICICI-Credit, was one of the first four companies to obtain registration as a Non-Banking Financial Company (NBFC) from the Reserve Bank of India (RBI) on September 10, 1997 under the new section 45IA of the Reserve Bank of India Act, 1934. During the year 1998-99, there was a significant shift in the Companys operation from leasing to hire purchase to distribution and servicing of all rental products for the ICICI Group. It is now a focal point for marketing and distribution of all rental asset products for ICICI, including auto loans, consumer durable finance and other financial products. The Company has thus become part of ICICIs retail strategy aimed at offering a comprehensive range of products and services to retail customers. In view of this reorientation of the business, the name of the Company was changed from ICICI Credit

Corporation to ICICI Personal Financial Services Limited (ICICI PFS) effective March 22, 1999.

ICICI CAPITAL SERVICES LIMITED

ICICI Capital Services Ltd. was incorporated in the name of SCICI Securities Ltd. on September 24, 1994 as a wholly owned subsidiary of erstwhile SCICI Ltd. with the objective of providing stock broking services to the institutional clients and undertaking activities such as underwriting, primary market placements & distribution industry & company research etc. After the amalgamation of SCICI with ICICI effective from April 1, 1996, resulting in the change of the name. The company is mandated, under review by ICICI, to carry out on its behalf the retail resource raising activities and to provide front office services related to all retail and semi retail liability products of ICICI. The company also operates the network of ICICI Centers being set up by ICICI. As on date the company has set up 91 centers across the country.

ICICI INFOTECH

ICICI InfoTech is a leading provider of end-to-end IT solutions. We have an in-depth experience of having worked on varied technologies with leading corporations worldwide. Our service portfolio includes the following:

IS & IT Consulting Software Design and Development Enterprise Application Integration Value Chain Management Solutions (SCM, CRM etc.) Application Re-engineering and Management

Knowledge Management Solutions Embedded System Applications Technology Incubation, IT-enabled Services & IT Outsourcing

ICICI Capital Ltd.


Its products are RBI Bonds E-invest (ICICI Direct.com) Fixed Deposits Mutual Funds Bonds De-Mat Equity IPO

ICICI DIRECT.COM (ONLINE SHARE TRADING):


ICICI Direct.com is a truly online share-trading site. Which means that from the time you punch in a buy or sell trade on your computer to the final settlement in your account, everything happens completely online? The 3-in-1 e-invest account integrates your brokerage, bank and one or more depository accounts to make sure that you can do the otherwise cumbersome share trading from the comfort of your home or office, at absolutely any time of the day or night

PERFORMANCE AND OPERATIONS


The Sales turnover of the Company during the year was Rs.2,602 million. There is a decrease of 4% from the previous year. Decline in the sale of Carburettors for two wheelers and four wheelers had contributed to the overall sales downturn though the Company has improved the sale of MPFI parts to passenger cars.

The profit after tax of the Company for the year under review is Rs.377 million Due to inclusion of an extraordinary profit of Rs.250 million on sale of investments, the Profit after Tax has registered an increase of 42% compared to previous year. The profit from the manufacturing activities of the Company is lower mainly due to a. price reduction offered to customers b. increase in the input and raw materials cost

SWOT ANALYSIS OF THE COMPANY:

Strengths
1. Management philosophy and commitment to maximize shareholders returns 2. Upgraded product design and development facilities to develop new products and aid diversification 3. Ongoing activities to support up gradation of operational performance and rise in productivity 4. Team of talented and committed professionals available to improve companies performance

Weakness
1. Competition from cheap imports 2. Low customer base

Opportunities
1. UFSL has initiated development of products for diesel application. This will provide tremendous scope for diversification and growth 2. Acquisition of AMTEC to provide opportunities to access global OEMs 3. Opportunity to support AMTECs operations by supplying products from India 4. The introduction of new emission norms will provide UFSL opportunity to develop injection systems and thereby upgrade the status of the company from product to system supplier.

Threats, Risks & Concerns


1. Constant pressure to be cost competitive to meet customer expectations 2. Relentless pressure to maintain profitability due to rising input/raw material prices 3. Increasing popularity of alternative fuel vehicles, such as Hybrid, Hydrogen powered, CNG and LPG vehicles poses new challenges for the company

FUTURE PROSPECTS AND PLANS OF THE ORGANIZATION

For ICICI the past half has been a trying period more so because of the adverse environmental conditions such as the depressed equity markets and the volatile currency markets. However, its retail thrust and a perceptible shift in financing from manufacturing projects to corporate finance will put it in good stead for the quarters to come. Its growing importance in the telecom and infrastructural sectors, which have huge potential, will be a key driver of growth for the future

ACHIEVEMENT AND AWARD

Winning is a habit that is assiduously cultivated at ICICI Securities Limited (i-SEC). Be it deals, mandates or awards, we manage them all in our quite and efficient way.

For us winning awards is a matter of pride and honour. Each new award is a manifestation of our hard work and commitment to our clients.

Since inception, i-SECs expertise has been time and again widely recognized by both domestic and international agencies.

Our Fixed Income team for the last two years (CY 2008 and 2009) has been adjudged the Best Bond House in India by both Asiamoney and Finance Asia. The equities team was adjudged the Best Indian Brokerage House-2009 by Asiamoney. The Corporate Finance team, according to Bloomberg topped the M&A league tables in 2009

DATA ANALYSIS AND INTERPRETATION


1.The Customers Of ICICI Are Classified Into Small Investors, Large Investors And

Traders

INVESTORS

PERCENTAGE

Small investors Large investors Trades

58% 32% 10%

Table No. 1 Different types of investors having ICICI Direct.com.

Chart No. 1 Percentage of investors having ICICI Direct.com.

INFERENCE: The above table shows that out of 100 customers, 58 customers are small investors and 32 customers are long term investors. The small investors comprises the majority in ICICI Direct.com and contributes the larger part.

2.Customers awareness of the new services offered by ICICI Direct.com


AWARENESS PERCENTAGE

Through ICICI direct.com Newspaper/Magazines Brokers Agents Others

34% 12% 14% 34% 6%

Table No. 2 Customers awareness of the new services

Chart No. 2 Percentage of customers awareness of the new services offered by ICICI Direct.com
INFERENCE: The above chart predicts that Customer is aware of the ICICI direct services mostly through ICICI direct.com which contributes 34% and equal contribution is given by the Agents 34%.

3.Customers first source of awareness Through which first source they come to know about the service

Through ICICI Direct.Com 34 34%

News paper Magazines 12 12%

Broker 14 14%

Agents 34 34%

Others 6 6%

Table No. 3 Showing customers first source of awareness

Chart No. 3 Percentage of customers first source of awareness

INFERENCE: According to the survey the first source of information is ICICI Direct.Com itself and the agents Which contributes to the first source of information to the customers

4.Customers satisfaction of the services of ICICI Direct.Com


SATISFACTION LEVEL Satisfied PERCENTAGE 64%

Mostly Satisfied Neither Satisfied/Unsatisfied Mostly Unsatisfied Unsatisfied

24% 10% 2% 24%

Table No.4 Showing customer satisfaction level of the services offered

Chart No. 4 Percentage of customers satisfaction of the services of ICICI

INFERENCE: According to survey 64% of customers are satisfied with the services of ICICI Direct .com and 24% are mostly satisfied. Then we can say that ICICI Direct.Com offers quality service that touches customers satisfaction level.

5.Customers satisfaction of the Demat services of ICICI


SATISFACTION LEVEL PERCENTAGE

Direct.Com

Satisfied Mostly Satisfied Neither Satisfied/Unsatisfied Mostly Unsatisfied Unsatisfied

46% 22% 16% 12% 4%

TABLE NO.5 Showing Customer satisfaction level in the Demat services

Chart No. 5 Percentage of customers satisfaction of the Demat services of ICICI Direct.Com
INFERENCE: According to the survey 46% are satisfied with the Demat Services of the ICICI Capital Ltd. 12% of the customers are not satisfied. So we can say ICICI Direct.Com offers quality services in Demat section also.

6. Customers satisfaction with the purchase and sales of ICICI Direct.Com


This table represents the purchase of products other than DEMAT

SATISFACTION LEVEL Satisfied Mostly Satisfied Neither Satisfied/Unsatisfied Mostly Unsatisfied Unsatisfied

PERCENTAGE 40% 26% 14% 8% 12%

Table No.6 Representing the satisfaction level of the purchase of products in ICICI direct

Chart No. 6.Customers satisfaction with the purchase and sales of ICICI Direct.Com INFERENCE:
According to the survey only 40% of the customers are satisfied with Purchase and Sales of ICICI Direct.Com. So we can say purchase and sales section ICICI Direct.Com unsatisfied the customers.

7.Customers satisfaction with the transmission of securities of ICICI Direct.Com

SATISFACTION LEVEL Satisfied Mostly Satisfied Neither Satisfied/Unsatisfied Mostly Unsatisfied Unsatisfied

PERCENTAGE 30% 22% 32% 12% 4%

Table No 7. Representing satisfaction level with the transmission of securities.

Chart No. 7 Percentage of customers satisfaction with the transmission of securities of ICICI Direct.Com
INFERENCE: According to the survey 30% of the customers are satisfied and 22% of the customers are mostly satisfied with the transmission of securities of ICICI Direct.Com. So we can say that ICICI Direct.Com unsatisfied the customers in case of transmission of securities of the customers.

8.Customers satisfaction with the sell of their securities in cash

SATISFACTION LEVEL Satisfied Mostly Satisfied Neither Satisfied/Unsatisfied Mostly Unsatisfied Unsatisfied

PERCENTAGE 70% 20% 10% 0% 0%

Table No. 8 Representing Customer Satisfaction with the sell of their securities in cash.

Chart No.8 Percentage of customers satisfaction with the sell of their securities in cash

INFERENCE: According to the survey 70% of the customers are satisfied with the sell in cash system of ICICI Capital Ltd. So we can say that ICICI Direct.Com satisfied the customers with the sell of customers securities in cash.

9. Customers satisfaction with the mutual fund service of ICICI DIRECT Ltd.
SATISFACTION LEVEL Satisfied Mostly Satisfied Neither Satisfied/Unsatisfied Mostly Unsatisfied Unsatisfied PERCENTAGE 38% 34% 24% 4% 0%

Table No. 9 Representing CM satisfaction with the mutual fund service of ICICI Direct

Chart No. 9 Percentage of customers satisfaction with the mutual fund service of ICICI DIRECT Ltd.
INFERENCE: According to the survey, 38% of the customers are satisfied with the Mutual fund services of ICICI Capital Ltd. So we can say that customers tendency is that they believe that Mutual Fund and Shares are performing as the same in the primary and secondary market and the mutual fund is the safest way to invest in the market.

10. Customers satisfaction with the trading demos provided by the ICICI DIRECT Ltd.
SATISFACTION LEVEL Satisfied Mostly Satisfied Neither Satisfied/Unsatisfied Mostly Unsatisfied Unsatisfied PERCENTAGE 52% 24% 20% 4% 0%

Table No.10 Representing CM satisfaction with the trading demos provided by the ICICI DIRECT

Chart No. 10 Percentage of customers satisfaction with the trading demos provided by the ICICI DIRECT Ltd.
INFERENCE: According to the survey 52% of the customers are satisfied with the Trading Demos that are conducted by the ICICI Capital Ltd. 24% are mostly satisfied. So we can say that ICICI customers are attending the demo programmes and the ICICI employees can able to solve the queries of the customers.

11. Customers satisfaction with the periodic receipts and holding statements of ICICI DIRECT.Com
SATISFACTION LEVEL Satisfied Mostly Satisfied Neither Satisfied/Unsatisfied Mostly Unsatisfied Unsatisfied PERCENTAGE 20% 18% 16% 32% 14%

Table No.11 Representing Customers satisfaction with the periodic receipts and

holding statements of ICICI DIRECT.Com

Chart No. 11 Percentage of customers satisfaction with the periodic receipts and holding statements of ICICI DIRECT.Com
INFERENCE: According to the survey, the 20% customers are satisfied and 18% customers are mostly satisfied with the periodic receipts and holding statements of the ICICI Direct.Com. So, we can say that most of the customers are unsatisfied with this service of ICICI Direct

12. Customers satisfaction with the telephonic enquiries of ICICI DIRECT Ltd.
SATISFACTION LEVEL Satisfied Mostly Satisfied Neither Satisfied/Unsatisfied Mostly Unsatisfied Unsatisfied PERCENTAGE 16% 48% 12% 14% 10%

Table No.12 Customers satisfaction with the telephonic enquiries of ICICI DIRECT Ltd.

Chart No.12 Percentage of customers satisfaction with the telephonic enquiries of ICICI DIRECT Ltd.
INFERENCE: According to the survey, 48% of the customers are mostly satisfied and 16% of the customers are satisfied. So, we can say that most of the customers are satisfied with the telephonic service of ICICI Direct ltd.

13.Customers satisfaction with the co-operation by the staff of ICICI DIRECT Ltd.
SATISFACTION LEVEL Satisfied Mostly Satisfied Neither Satisfied/Unsatisfied Mostly Unsatisfied Unsatisfied PERCENTAGE 32% 46% 4% 14% 4%

Table No.13 Customers satisfaction with the co-operation by the staff of ICICI

DIRECT Ltd

Chart No. 13 Percentage of customers satisfaction with the co-operation by the staff of ICICI direct Ltd.

INFERENCE:

According to the survey, 32% of the customers are satisfied and 46% of the customers are mostly satisfied with the co-operation by the staff of ICICI Capital Ltd. So, we can say that most of the customers are satisfied with the co-operation by the staff of ICICI Capital Ltd.

14. Customers satisfaction with the tariff structure of ICICI DIRECT.Com


SATISFACTION LEVEL Very High High Reasonable Low Very Low PERCENTAGE 12% 14% 72% 2% 0%

Table No.14 Representing Customers satisfaction with the tariff structure of

ICICI DIRECT.Com

Chart No. 14 Percentage of customers satisfaction with the tariff structure of ICICI DIRECT.Com

INFERENCE:

According to the survey, the tariff structure of ICICI Direct.Com is reasonable. Customers told me that the brokerage of 0.75% is reasonable because it is the only organization which deals with the primary and secondary market both. ICICI Direct.Com also has many investment options than any other organization.

15. Customers rating of the services of ICICI DIRECT.Com RATING 1 2 3 4 5 PERCENTAGE 0% 0% 36% 56% 8%

Table No 15. Representing Customers rating of the services of ICICI DIRECT.Com

Chart No. 6.15 Percentage of customers rating of the services of ICICI


INFERENCE:

According to the survey 56% of the customers said that ICICI Direct.Com services are providing only 60% of its services to its customers. So we can say that ICICI Direct.Com services should be increased to please its customers.

GOODNESSOFFITINCUSTOMERSATISFACTIONWITHICICIDIRECT

H0AllthegrouphaveEqualProbability H1AllthegroupdoesnothaveEqualProbability

CUSTOMER SATISFACTION

OI

EI

SATISFIED

64

25

60.84

MOSTLY SATISFIED

24

25

0.04

UN SATISFIED

10

25

MOSTLY UNSATISFIED

02

25

21.16

TOTAL Calculated

100

100

91.04 Value=91.04

Tabulated Value of the Chi-Square with 3 degree of freedom at 5% Level of significance =7.81 CV > TV = Ho is Rejected

Customers rating of the services of ICICI DIRECT.Com

H0- All the group have Equal Probability. H1- All the group does not have Equal Probability

RATING

OI

EI

0%

16.667(16.67)

16.67

20%

16.67

16.67

40%

36

16.67

22.41

60%

56

16.67

92.79

80% 100% TOTAL

8 0 100

16.67 16.67 100

4.51 16.67 169.62

Calculated Value=169.62 Tabulated Value of the Chi-Square with 3 degree of freedom at 5% Level of significance =7.81 CV > TV = Ho is Rejected

Customers first source of awareness

H0- All the group have Equal Probability. H1- All the group does not have Equal Probability

SOURCE OF AWARENESS
ICICI DIRECT.COM

OI
34

EI
20 20 20 20 20 9.8 3.2 1.8 9.8 9.8

NEWS PAPER

12

BROKER

14

AGENTS

34 6

OTHERS TOTAL

100

100

34.4

Calculated Value=34.4 Tabulated Value of the Chi-Square with 4 degree of freedom at 5% Level of significance =7.81 CV > TV = Ho is Rejected

FINDINGS
ICICIdirect.com customers are more satisfied with the quality services. Holding securities in electronic form gives some far-reaching advantages to the investors. ICICIdirect.com offers a wide choice of products for investing in the stock market. It allows to invest in shares, mutual funds and other financial products. With ICICIdirect.com one can manage own de-mat and bank accounts directly and independently.

The depository participant will allow an investor to trade through any broker of his choice registered with the stock exchanges connected with National Securities Depository Ltd, what will have to provide the details of investors account with Depository Participant.

Investor can click to get online information on their open orders and traders i.e. orders that are routed to exchange are waiting in the queue to be executed can be viewed for their status. Transaction details for the traders done in the last month are available online.

Printed account statements too are available for earlier.

SUGGESTIONS

Some customers feel that they are trained for ICICI Direct.Com demo. Many customers feel that batch of 15 are good for ICICI Direct.Com training. Survey reveals that most of the customers are not aware of the service of the Mutual Fund. ICICI Capital Services Ltd. and the normal tendency of the customer are both investing in shares and in Mutual Funds are one and the same. So for this ICICI Capital Services Ltd., should create an awareness of what exactly mean by Mutual Funds and all other services of ICICI Capital Services Ltd. After getting the printouts of the holding statement, dispatch of the same should be taken place with no delay and this can be cross verified with the sender (dispatch section). Customers are facing over crowding, non-availability of telephone lines, so proper measures should be taken to overcome these problems. The ICICI official should conduct regular training demo classes for the new account holders.

CONCLUSION

Icici direct.com is performing very well in the field of online share trading business and having very good administration also. Each departments doing their job very well comparing to the standard performance fixed by the management and it leads to overall good performance of the company. There existing a good relationship between employees and management The management taking keen interest for finding their weakness and try their level best to overcome this weakness

BIBLIOGRAPHY

Books and journals:-

ICICIdirect.com broachers and leaflets Periodical published by ICICI Capital Ltd. I-SEC journals of 2009 and 2010 Journals published by ICICI Capital Ltd. Capital journals in ICICI by Mr.Amit kamat National head , ICICI securities Jayce Bernard , Trading Basics , 2010, Whites publications George M. Maxwell , Stock Market Banking .2009, Skull publications Lincoln Ramachandran , Prudential Concepts, 2010, Raygun publications.

Websites:www.hinduonnet.com/businessline/iw/2001/05/27/stories/07276053.htm www.cdslindia.com/FAQ/demat.htm www.nsdl.co.in/services/demat.php www.sebi.gov.in/faq/faqdemat.html

Name:

EMail:

1) AsaninvestorinwhichcategorydoyoufallinICICIDirect.com? o o o 2) Howdoyoucometoknowabouttheservicesofferedby.ICICIDirect.com? o o o 3) If you are aware of the new services offered by ICICI Direct.Com then how did they come to knowaboutitfirst?

Longterminvestors

SmallInvestors Traders

ICICIDirect.com o TransmissionofSecurities o MutualFund o Sell'N'Cash LoansAgainstdematshares Settlement

o o o

ThroughICICIDirect.Com Broker Others

o o

NewsPaper/Magazines Agents

4) AreyousatisfiedwiththeservicesofICICIDirect.Com?

o o o

Satisfied NeitherSatisfied/Unsatisfied Unsatisfied

o o

MostlySatisfied MostlyUnsatisfied

5) AreyousatisfiedwiththeDematservicesofICICIDirect.Com?

o o o

Satisfied NeitherSatisfied/Unsatisfied Unsatisfied

o o

MostlySatisfied MostlyUnsatisfied

6) AreyousatisfiedwiththepurchaseandsalesofICICIDirect.Com?

o o o

Satisfied NeitherSatisfied/Unsatisfied Unsatisfied

o o

MostlySatisfied MostlyUnsatisfied

7) AreyousatisfiedwiththetransmissionofsecuritiesofICICIDirect.Com?

o o o

Satisfied NeitherSatisfied/Unsatisfied Unsatisfied

o o

MostlySatisfied MostlyUnsatisfied

8) Arethecustomerssatisfiedwiththeselltheirsecuritiesincash?

o o o

Satisfied NeitherSatisfied/Unsatisfied Unsatisfied

o o

MostlySatisfied MostlyUnsatisfied

9) ArethecustomerssatisfiedwiththeMutualFundserviceof.ICICIDirect.com?

o o o

Satisfied NeitherSatisfied/Unsatisfied Unsatisfied

o o

MostlySatisfied MostlyUnsatisfied

10) AreyousatisfiedwiththetradingdemosprovidedbyICICIDirect.com.?

o o o

Satisfied NeitherSatisfied/Unsatisfied Unsatisfied

o o

MostlySatisfied MostlyUnsatisfied

11) AreyousatisfiedwiththeperiodicreceiptsandholdingstatementsofICICIDirect.Com?

o o o

Satisfied NeitherSatisfied/Unsatisfied Unsatisfied

o o

MostlySatisfied MostlyUnsatisfied

12) ArethecustomerssatisfiedwiththetelephonicenquiriesofICICIDirect.com?

o o o

Satisfied NeitherSatisfied/Unsatisfied Unsatisfied

o o

MostlySatisfied MostlyUnsatisfied

13) ArethecustomerssatisfiedwiththecooperationbythestaffofICICIDirect.com.?

o o o

Satisfied NeitherSatisfied/Unsatisfied Unsatisfied

o o

MostlySatisfied MostlyUnsatisfied

14) ArethecustomersaresatisfiedwiththetariffstructureofICICIDirect.Com?

o o o

VeryHigh Reasonable VeryLow

o o

High Low

15) OverallhowthecustomersratetheservicesofICICIDirect.Com? o o o 0% 40% 80% o o o 20% 60% 100%

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