ICICI BANK LIMITED

ICICI Bank limited has been the largest private lender in India for years. It is a part of “too big to fail” list
of RBI, meaning the bank is least likely to fail, if it fails will lead to an economic disaster in the country.

Vision:
To be the leading provider of financial services in India and a major global bank.
Mission:
We will leverage our people, technology, speed and financial capital to:

 Be the banker of first choice for our customers by delivering high quality, world-class products
and services.
 Expand the frontiers of our business globally.
 Play a proactive role in the full realisation of India's potential.
 Maintain a healthy financial profile and diversify our earnings across businesses and geographies.
 Maintain high standards of governance and ethics.
 Contribute positively to the various countries and markets in which we operate.
 Create value for our stakeholders.
ICICI’s recent actions justify the vision and mission. For instance

 ICICI Bank has claimed the title of ‘most preferred lender’ in 2018 which adds to its mission
of being the banker of first choice.
 While ICICI was forced to clean its books due to rising defaults and NPAs (Non-performing
assets), it continued to consolidate and strengthen its market which strengthens their mission of
maintaining a healthy financial profile.
 ICICI has always been the first mover in India. It was among the first private sector bank in India
and also the first to introduce internet-based banking in India and in the growing digital space too
they have embraced social media very positively which creates value for their biggest
stakeholders – Customers. For instance:

1. On Facebook, ICICI Bank goes beyond marketing. It not only listens to customers but
also engages with appealing updates like interesting world currency facts, financial
updates, puzzles and quiz, etc. It is also leveraging Facebook page for Customer Service
with a special tab that assists the customer with all the helpful information and
customer care numbers which has helped drive traffic to its website through Facebook
2. On Twitter ICICI’s every tweet has a human touch unlike most other banks which sound
like automated answering machines. This is effective in creating and sustaining
communication on Twitter.
 Such engagements on social media has helped them create new customers and also retain the old
ones. This can be validated with the fact that the bank ended with transaction volumes of
Rs80,000 Crores in FY17 through mobile banking alone.
 In its growing days of early 2000s, in order to fulfil the mission of expanding the business
frontiers, ICICI Bank targeted the upper-middle class sector in India through competitive pricing
and services like ATMs and credit cards. Over the years, banking experts and consultants have
deemed their practices as aggressive and risky.
State Bank of India

Vision:

 MY SBI.
 MY CUSTOMER FIRST.
 MY SBI: FIRST IN CUSTOMER SATISFACTION.
Mission:

 We will be prompt, polite and proactive with our customers.

 We will speak the language of young India.
 We will create products and services that help our customers achieve their goals.
 We will go beyond the call of duty to make our customers feel valued.
 We will be of service even in the remotest part of our country.
 We will offer excellence in services to those abroad as much as we do to those in India.
 We will imbibe state-of-the-art technology to drive excellence.
Based on the vision and mission statement, it can be observed that SBI puts a lot of emphasis
on meeting customer needs while keeping pace with the changing technological scenario.
 To meet the digital demands of the current generation, SBI has come up with various
offerings like:
 YONO: This is a B2C platform which takes care of both mobile and lifestyle needs of its
customers. This is more suited to the younger generation who prefer on-the-go easy-to-
use applications.
 SBI Intouch: This a ‘phygital’ marketplace offering self-service kiosks and services of
other SBI subsidiaries such as Life Insurance, General Insurance, Mutual Funds, Credit
Cards, and online trading through SBI Cap Securities.
 According to its mission it aims to provide services to the remotest places in India which
again reflects its vision of giving maximum priority to customers. SBI operates in a lot of
remote villages where private banks still do not have any reach. To the achieve the same,
SBI has introduced services like:
 Regional Rural Banks which are meant for the development of the rural economy. SBI
sponsors 14 banks with over three thousand branches.
 Agri-banking which offers quick loans to farmers at Low interest rates without any
intermediaries
 SBI Gram Seva: This was a CSR initiative by SBI in 2017 where they announced they
would adopt over 500 villages in the coming three years.
Punjab National Bank (PNB)

Mission
"Creating Value for all its customers, Investors and Employees for being the first choice for all
stakeholders"

Vision
"To position PNB as the `Most Preferred Bank` for customers, the `Best Place to Work In` for employees
and a `Benchmark of Excellence` for the industry"

 The Bank introduced an On-line Grievance Redressal Management Program called

Centralized Grievance Redressal Management System (CGRMS). Here the customers can
lodge their complaints which would facilitate efficient customer service.
 The Bank’s journey towards digitalization continues through constant innovations and
upgradations of its existing products and services thereby acting as a touchstone for excellence in
the industry.
 Mission PARIVARTAN, a transformational exercise for Business Excellence, was launched to
align Bank’s activities relating to people, process & products more towards the Board approved
business strategy & vision.
 As soon as the Brady House, Mumbai Branch fraud was detected, the Bank took immediate
corrective action as required. This reinforced the trust of customers, employees and all other
stake holders.
PUNJAB AND MAHARASTRA CO-OPERATIVE BANK LIMITED
Vision and Mission:

To emerge as a strong, vibrant, most preferred premier co-operative bank, committed to excellence in
serving the customers, and augmenting the stakeholders’ value through concern, care and competence.

From the vision and mission statement of Punjab and Maharashtra cooperative bank it can be inferred that
the following points bank strive to attain through its relentless efforts.

 To become a vibrant organization.

 To provide excellent customer service.
 To enhance stakeholders’ value.

These are the following activities performed by this organization that further strengthens its vision and
mission statement:

 In order to position itself internationally, the bank has launched its Facebook page and website
since 2011-12.
 The bank functions throughout the year, even on Sundays and holidays.
 In order to provide excellent customer service, it set up self-service counters and also started tele
banking services.
 The Bank was the pioneer to mention names of payee/ Drawer in the passbook / statement of
accounts to facilitate easy identification of every entry / transaction. This was further advised by
The Reserve Bank of India, in the year 2008/09, to other banks to adopt this practice in the
interest of better customer service.
 All India Bank Depositors’ Association, well known body of the bank depositors, felicitated the
Bank in appreciation of “work ethics oriented to depositors’ service” in 1999.
 The bank believes in women empowerment. It employs 70 percent women employees and
charges 1% less rate of interest for education loan to girls and women
HDFC BANK

Vision: to be customer driven best managed enterprise that enjoys market leadership in providing
housing related finance
Mission: HDFC Bank's mission is to be a World Class Indian Bank

Objective: To build sound customer franchises across distinct businesses so as to be the preferred
provider of banking services for target retail and wholesale customer segments, and to achieve
healthy growth in profitability, consistent with the bank's risk appetite
Values: HDFC Bank’s business philosophy is based on five core values: Operational Excellence,
Customer Focus, Product Leadership, People and Sustainability.
Analysis

The organisation believes that a single-minded focus on product quality and service excellence
would help it get closer to its mission. The bank’s efforts towards providing customer
convenience have been appreciated in the form of many awards it has received both nationally
and internationally.

Keeping in mind service excellence, the organisation aims to provide its customers a seamless
tech experience. The bank wants to create a financial experience for the customers, follow their
journey, using technology in a frictionless manner.

Hence, the vision and mission statement do talk about primary components such as customer and
philosophy in their statements.

These are some of the activities performed by this organization that further strengthens its vision
and mission statement:

 Offering a comprehensive suite of products to its customers, such as instant accounts

and loans
 Using robotics to enhance customer service and loan processing, providing the customers
facilities of one click pay for bills and making shopping hassle free
 Hence, the company has tried to implement new ideas and breakthrough innovation
to create an entire bouquet of services for its customers. It has enabled 81% of its
transactions to be digital, following the global emergence of customer preference
 Keeping in mind the consumer preferences of doing multiple transactions HDFC hosts a
variety of new apps