Study Bay Coursework Assignment Writing Help<\/p>\n
This paper explores the linkage between organizational structure and cross-cultural management. It suggests that a fluid and continuously evolving structure enables effective cross-cultural management. In support of this, the paper reports on the experience of the second largest bank in India and the largest private sector bank in India by market capitalization. The Bank has a network of 2,509 branches and 5,808 ATMs in India, and has a presence in 19 countries, including India. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and specialization subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank is also the largest issuer of credit cards in India. ICICI Bank\u2019s shares are listed on the stock exchanges at\u00a0BSE,\u00a0NSE,\u00a0Kolkata\u00a0and Vadodara (formerly Baroda)\u00a0; its\u00a0ADRs trade on the\u00a0New York Stock Exchange\u00a0(NYSE).<\/p>\n
The Bank is expanding in overseas markets and has the largest international balance sheet among Indian banks. ICICI Bank now has wholly owned subsidiaries, branches and representatives offices in 19 countries, including an offshore unit in Mumbai. This includes wholly owned subsidiaries in Canada, Russia and the UK\u00a0offshore banking units in Bahrain and Singapore, an advisory branch in Dubai, branches in Belgium, Hong Kong and Sri Lanka, and representative offices in Bangladesh, China, Malaysia, Indonesia, South Africa, Thailand, the United Arab Emirates and USA. Overseas, the Bank is targeting the NRI (Non-Resident Indian) population in particular.<\/p>\n
ICICI reported a 1.15% rise in net profit to\u00a0Indian rupee1,014.21 crore on a 1.29% increase in total income to\u00a0Indian rupee9,712.31 crore in Q2 September 2008 over Q2 September 2007. The bank\u2019s\u00a0CASA ratio\u00a0increased to 30% in 2008 from 25% in 2007.<\/p>\n
ICICI Bank is one of the\u00a0Big Four Banks\u00a0of India, along with\u00a0State Bank of India,\u00a0Punjab National Bank\u00a0and\u00a0Canara Bank\u00a0\u2013 its main competitors.<\/p>\n
Introduction<\/p>\n
International business houses are increasingly operating with multicultural work forces. One key to competitive advantage for these business houses is effective cross-cultural management. Even conservative business houses such as traditional banks are finding that the thrust of competition requires them to manage diversity in their workforces. An example of one such traditional bank is ICICI Bank. ICICI Bank\u2019s performance and aspirations are underpinned by a strong organizational culture of dynamism, meritocracy, excellence in execution and high standards of professional integrity that have helped us become an industry leader. The bank runs a leadership development program which aims to build leadership talent within the organization. The program attempts to tap into the potential of employees and develop them into global leaders. It has also extended its role beyond economic growth concerns to directly participate in the pursuit of human development.\u00a0<\/p>\n
Smith (ICICI MD) and his original team did well. ICICI prospered. Their 8-8 banking service set a new benchmark in the industry BUT its grown too vast. Smith is surrounded by people who do not present the true status of the crippling retail dissatisfaction<\/p>\n
Smith has become risk averse and has appointed people who\u2019ve been around him for years, as heads of divisions. They do not have the same drive and enthusiasm as Smith and hence the stagnation. The need of the hour is to expand infrastructure, bring in younger people in the top management (people in 30s and early 40s). and ofcourse until then, ICICI can be avoided.<\/p>\n
It is a tech-savvy, non-hierarchical, work environment where early responsibility and independent decision-making enable each employee to reach his\/her potential. Coupled with this is a strong performance management system that has built a meritocracy where high performing-high potential individuals are duly rewarded.<\/p>\n
Even during recession ICICI Bank did not cut back on employees But instead announced a policy of \u2013 No promotion & No bonus but no attrition too!! This policy is serving two purposes for ICICI bank, cutting down employee cost and employee retention.<\/p>\n
Employees also feel that as an employer the bank extends a lot of authority along with justified accountability.<\/p>\n
Employees perceived the working culture at ICICI bank to be very collaborative in nature. It can be owed to the fact that the bank is highly segmented with a lot of overlapping and mostly distinct roles and responsibilities.<\/p>\n
The Employees also considered that ICICI bank offers them with a lot of financial benefits ranging from your family health insurance to your kids school donations.<\/p>\n
But certain concerns in terms of Lack of time for fulfilling social responsibilities And more sales oriented culture are there.<\/p>\n
ICICI Bank would issue dress to be worn by all Progamme Participants. This dress, as laid down, would be worn for all classes and other organised activities. Till the time the participants are issued with the dress they would abide by the following dress code: \u2013<\/p>\n
(i) Formal office trousers and shirts with a tie. Most acceptable colours for trousers would be black, brown, blue and grey. Preferable pastel colours for shirts.<\/p>\n
(ii) Suits for formal occasions.<\/p>\n
(iii) Formal footwear<\/p>\n
(iv) Well groomed.<\/p>\n
(i) Silk or cotton (starched) sari<\/p>\n
(ii) Formal western wear (formal trousers\/skirts with a top or a jacket) or salwar kameez.<\/p>\n
(iii) Formal footwear.<\/p>\n
(iv) Well groomed.<\/p>\n
Chanda Kochhar knew nothing about retail banking when she took over ICICI Bank\u2019s fledgling retail operations in 1998 at the age of 36. That made Citibank and others think ICICI was only doing a \u201csmall flirtation,\u201d she says, and they \u201cunderestimated the growth in the market.\u201d They also underestimated this smart, assertive woman, known for her colorful saris and carefully matched jewelry.<\/p>\n
Today ICICI, India\u2019s second-largest and fastest-growing bank, is the market leader in retail banking, with more than 15 million customers, accounting for more than a third of India\u2019s total retail credit. And Kochhar \u2013 No. 37 on this year\u2019s list of the world\u2019s most powerful businesswomen \u2013 added corporate banking to her portfolio in April and is a leading candidate to become managing director and chief executive of the Mumbai bank when the job becomes vacant at the end of 2008.<\/p>\n
That a woman should achieve such success in a male-dominated industry, in an economy where women often play subservient roles, might be a surprise at any other Indian bank. But\u00a0ICICI\u00a0(Charts) has made a name for itself by recognizing female talent. Three of the five members of the bank\u2019s executive board are women, as are 13 of its 40 top managers and one of Kochhar\u2019s two rivals for the chief executive job \u2013 Shikha Sharma, the 47-year-old managing director of ICICI Prudential.<\/p>\n
Once dubbed the \u201cpetticoat brigade\u201d by Mumbai\u2019s chauvinistic banking fraternity, these highly competitive women have helped build a business known for its aggressive, risk-taking attitude and its growth from a sleepy, bureaucratic development institution into India\u2019s most diversified and customer-oriented bank. \u201cAlmost all the leaders we have picked have succeeded, and most have been women,\u201d says K.V. Smith, ICICI\u2019s CEO, who has been responsible for empowering them.<\/p>\n
Kalpana Morparia, a lawyer and the other joint managing director, retires next May. Her peers at other banks say she has been the backbone of ICICI for the past ten years, looking after the raising of funds and the regulatory environment. She says she stayed at ICICI, when she could have earned far more elsewhere, \u201cbecause the empowerment gives an entrepreneurial framework, where you have all the support systems.\u201d<\/p>\n
Sharma, another early achiever and fast learner, admits she is \u201cfiercely competitive.\u201d When she was 33 she headed ICICI\u2019s side of a securities joint venture with J.P. Morgan, initially knowing little about markets. That led to a two-year stint at Morgan, after which she ran ICICI\u2019s corporate planning department and started its retail banking operation. In 2000, knowing nothing about insurance, she set up the joint venture with Britain\u2019s Prudential, which is restricted by government policy to a 26% equity stake and has only a minimal management presence. That leaves Sharma in charge of India\u2019s largest private-sector insurance company, with 12.5% of the market. She says women are good at succeeding without prior experience because \u201cthey have smaller egos [than men], and it\u2019s easier for me to say, \u2018Hey, I know nothing about this.\u2019 \u201c<\/p>\n
Very aggressive Bank in terms of adopting the best practices, technology and takng business for a young entrant a very good opportunity to learn and grow<\/p>\n
Extreme work pressures makes one to learn to respond quickly and efficiently and absorb pressure a trait useful for the future<\/p>\n
Senior management backing for new initiatves<\/p>\n
Fairly transperant Performance Appraisal system<\/p>\n
Open to changes in department for employees, allowing employees to grow<\/p>\n
It need only to sell product, brand awareness is high, very strong in systems, minimum paperwork, good training opportunities, opportunities given to do different things other than the regular job. Excellent place to learn marketing and strategy. Unearthly working hours usual. Less involvement from HR regarding welfare of employees, some established managers tend to push down people who don\u2019t perform instead of hand holding them, demotions in roles very common, even if you are a good performer. Senior Management care more for your employees, they are more than just another email id! Find ways to understand what\u2019s happening on the field, its very different from whatever impression you have!<\/p>\n
Flexibility in terms of changing job profiles; power and authority assigned at each level is very motivating; employees feel very powerful in ICICI as compared with other organisations.<\/p>\n
The author reviews the theoretical and empirical literature to examine the traditional perception that the following trade-off exists between economic efficiency and stability in the banking system: a competitive banking system is more efficient and therefore important to growth, but market power is necessary for stability in the banking system. That this trade-off exists is not clear. Market power can have positive implications for efficiency, and the potentially negative implications of competition on stability may be manageable through prudential regulation. Neither extreme (perfect competition nor monopoly) is likely ideal. Rather, it may be optimal to facilitate an environment that promotes competitive behaviour (contestability), thereby minimizing the potential costs of market power while realizing benefits from any residual that remains. It can be very difficult to assess the contestability of a banking market. Recent work suggests that the number of banks and the degree of concentration are not, in themselves, sufficient indicators of contestability. Other factors play a strong role, including regulatory policies that promote competition, a well-developed financial system, the effects of branch networks, and the effect and uptake of technological advancements.<\/p>\n
Classical views of organizational structure have emphasized the \u201cdurable arrangements\u201d within an organization. Jackson & Morgan (1982) define organizational structure in line with the classical view as: \u201cthe relatively enduring allocation of work roles and administrative mechanisms that creates a pattern of inter-related work activities, and allows the organization to conduct, coordinate, and control its work activities\u201d. This definition of organizational structure with the caveat that work arrangements need not always be relatively enduring.<\/p>\n
Early writers on the subject, including Taylor (1911), Fayol (1930), and Weber (Gerth & Mills, 1958), had stipulated an ideal-type of organizational structure for all situations. In the late 1960s and throughout the 1970s, the \u201cone best form fits all\u201d view was replaced by the contingency approach. A contingency perspective such as that of Lorsch & Morse (1974) prescribes that an alignment should exist between structure, task, technology, the environment, and people. This approach takes into account that structures can be flexible and responsive to change. Contingency theorists such as Duncan (1977), Lawrence & Lorsch (1967), Burns & Stalker (1961), Minzberg (1979), Miles & Snow (1978), and Galbraith (1973) recommended that organizational structure should be either organic or mechanistic depending on the nature of the external environment. A stable external environment called for a mechanistic structure, while a turbulent environment required an organic structure \u2013 one flexible enough to evolve. The power of the contingency theory was validated in two countries from the non-English speaking world by Boseman & Simonetti (1975), indicating that non-traditional notions of structure apply in a variety of cultural contexts.<\/p>\n
In the past twenty-five years several researchers have made a case for viewing organizational structure in terms of transient features rather than durable ones. Duncan\u2019s work (1977) was among the earliest in this genre. Duncan advocated a bifurcated initiation and implementation structure for creative organizations. It then became possible to envisage structures that were bifurcated in other ways, such as those that have organic and bureaucratic structures existing conterminously as described by Peterson (1981). Here, the segment of the organization that engages in creative activities is separated from the rest of the organization, which is essentially bureaucratic. Just as creativity exerted a pressure for organizations to adopt transient structures, lately, knowledge generation and transfer in high information-intensity and velocity contexts have likewise exerted pressures for looser structures. Miles & Snow (1995) have argued for flexible networked structures for such organizations. In their literature review piece, Child & McGrath (2001) too note how continuously changing structures, are de rigour in knowledge based organizations.<\/p>\n
Coulson-Thomas (1991) has predicted that corporations dealing with complex operations would opt for \u201cflatter and more fluid organizational structures that can develop into networks\u201d, as well as have \u201cgreater flexibility and responsiveness to customer needs\u201d. This would be accompanied by \u201ca management approach which pushes organizational hierarchy to individuals, who require access to expertise and specialists\u201d.<\/p>\n
Pepper (1995) advanced an even more dynamic perspective on structure, which incorporated such elements as working relationships, actual experiences of members, and interpretations of occurrences. Pepper suggested that structure should be treated like a document that is authored by organizational members.<\/p>\n
Weick (1995) also postulated a dynamic view of structure. Weick talked about \u201cenacting organizations\u201d which are a function of organizational members\u2019 preferences. He observed, \u201cOrganizing is a continuous flow of movement that people try to co-ordinate with a continuous flow of input.\u201d<\/p>\n
Taking off from the notion of \u2018enactment\u2019, is that of inverted firms. Anderson, Finkelstein, & Quinn (1996) have recommended that hierarchies be dispensed with in certain contexts; instead, structures be organised in the form of patterns tailored to specific needs.<\/p>\n
Also closely related to the notion of enactment is that of improvisation. Improvisation connotes flexibility of form, an area a few contemporary researchers are currently discussing. Volberda (1999) holds that the extent of flexibility of a firm\u2019s structure should be aligned to the extent of turbulence prevalent in its environment. Additionally, a firm may on the whole be averagely flexible but have both a unit that is extremely flexible and a unit that is extremely rigid, functioning within it. Gold & Hirshfeld (2005) have demonstrated how the principles of improvisation underlying jazz music can be used to promote strategic renewal within organizations.<\/p>\n
McHugh & Wheeler (1995) described a particularly fluid structure called holonic network. This is \u201ca set of companies that acts integrated and organically; it is constantly re-configured to manage each business opportunity a customer presents. Each company within the network provides a different process capability and is called a Holon.\u201d This capacity for frequent re-configuring has been termed more recently by Eisenhardt & Galunic (2001) as \u201carchitectural innovation\u201d. Here, the different capabilities of an organization, including its structural components are re-combined in various ways to enhance performance.<\/p>\n
Weber, Taylor, Fayol<\/p>\n
One best form of structure that is largely unvarying, durable and bureaucratic. Focus was on establishing order and maintaining predictability<\/p>\n
Early 20th Century<\/p>\n
Duncan, Lawrence & Lorsch, Burns & Stalker, Minzberg, Miles & Snow, and Galbraith<\/p>\n
Structure should not be consistently unvarying. A stable environment necessitates a mechanistic structure, while a turbulent environment calls for an organic and flexible structure. The type of structure adopted should be contingent on the nature of the environment.<\/p>\n
1960\u2019s & 1970\u2019s<\/p>\n
Duncan, Peterson<\/p>\n
A creative organization should have certain elements of structure that are flexible.<\/p>\n
1970\u2019s & early 1980\u2019s<\/p>\n
Child & McGrath, Miles & Snow<\/p>\n
A knowledge generation and transfer organization should have a flexible structure.<\/p>\n
1990\u2019s & early 2000\u2019s<\/p>\n
Table II: Consider how our view of structure has changed over time \u2013 II<\/p>\n
Coulson-Thomas<\/p>\n
Complex, high-performance organizations require flat, fluid, flexible structures that enable responsiveness to customer needs. These structures can develop into networks.<\/p>\n
1991<\/p>\n
McHugh & Wheeler<\/p>\n
Complex, high-performance organizations require a fluid structure that enables re-configuration suited to each business opportunity that arises. These structures can develop into colonic networks.<\/p>\n
1995<\/p>\n
Pepper<\/p>\n
High-performance organizations require flexible structures capable of incorporating such features as actual experiences of members, etc. These structures enable employee participation in and ownership of organizational processes<\/p>\n
1995<\/p>\n
Weick<\/p>\n
High-performance organizations require flexible structures that enable employees to \u201cenact\u201d their work-related preferences. These structures promote efficiency and employee participation.<\/p>\n
1995<\/p>\n
Anderson, Finkelstein, & Quinn<\/p>\n
High-performance organizations sometimes require inverted structures that enable the removal of hierarchies. These structures can be tailored to specific needs.<\/p>\n
1996<\/p>\n
Volberda<\/p>\n
High-performance organizations should be internally differentiated so that units have varying extents of flexibility. This promotes efficiency and alignment with the environment\u2019s demand.<\/p>\n
1999<\/p>\n
Eisenhardt & Galunic<\/p>\n
High-performance organizations should emphasise the \u201carchitectural innovation\u201d capability of its structure. This enhances performance.<\/p>\n
2001<\/p>\n
Gold & Hirschfield<\/p>\n
High-performance organizations require structures that are capable of improvisation. This enables strategic renewal.<\/p>\n
2005<\/p>\n
Looking at organizational structure in terms of a historical perspective is useful, since it underscores the fact that its components do not have to be durable. Thus due to several imperatives, organizational structures are assuming flexible forms. Cross-cultural management can be a further reason why organizations should adopt flexible structures with transient features. That personnel can have preferences for structural forms that reflect their cultural heritage is indicated by the INSEAD study of Stevens (cited in Hofstede, 1991).<\/p>\n
In this study, MBA students from Great Britain, France and Germany were presented with a caselet about and interpersonal problem in a corporation. The students were requested to present a solution that involved re-engineering the structure. The interpersonal problem was that two department heads could not see eye to eye. The British students diagnosed the problem as being one of poor communication between the department heads. The problem could be resolved, according to the British students, by providing training in interpersonal skills to the feuding department heads. The French students suggested that the problem be referred one level up to the president of the corporation. The German students recommended that there should be greater clarity regarding the roles, responsibilities, and spheres of activity of the two department heads. These roles, etc. the German students opined, should be described and specified unambiguously.<\/p>\n
Steven\u2019s study specifically suggests that flexible structural forms may be appropriate in cross-cultural management contexts. Chang\u2019s (2002) paper written notes that culture has implications for job design. Thus, managers from individualistic ethnic cultures will value personal accomplishments. Meanwhile managers from collectivist cultures would place a premium on working harmoniously with others. The challenge is to design structures so that managers from both types of cultures can work productively together.<\/p>\n
We present here the experience of ICICI Bank as indicative that a fluid, flexible structure enables cross-cultural management. The fluid, flexible structure at ICICI Banks enabled managers from different cultures (collectivist and individualistic, high power-distance and low power-distance, etc.) to work synergistically with each other. Flexible structures obviate the sense that a structure or work pattern is being imposed by one cultural group on others. It provides a mechanism whereby culturally different work patterns can be \u2018reconciled\u2019 in a meaningful fashion. (Reconciliation is a term used by Trompenaars (1993) for the process he developed to work through the tensions created by cultural differences.)<\/p>\n
This study constitutes an exploratory effort. Its purpose is to examine how a fluid, flexible organizational structure facilitates cross-cultural management. Huberman & Miles (1994) have recommended that when a deeper understanding of management contexts is sought, qualitative research designs may be appropriate. Similarly, organization theorists like Marjoribanks (2000) and Vogel (1996) have deliberately used fine-grained case studies to capture how institutional diffusion occurs. The present study employs qualitative methods and a substantive case study to observe and report the co-evolution of a fluid, flexible organizational structure and cross-cultural management practices.<\/p>\n
ICICI Bank has a vast and a well-connected network of branches offering incomparable banking and other financial services to its customers. You need not look far for an\u00a0ICICI bank branch\u00a0and can get all the relevant information regarding the address, phone number and other information about the nearest branch of ICICI bank in your area using an online tool of \u2018branch locator\u2019 to locate an ICICI bank branch. The ICICI bank has established its branches in easily accessible market places across India enabling its customers to avail a variety of retail banking products offered by the bank.\u00a0<\/p>\n
The ICICI bank branches are spread throughout India and the world having\u00a01,488 branches both in India and\u00a018\u00a0countries. The customer care executives at branches are willing to help in order to provide Helpance in all sorts of bank related products and services. The current office timings of ICICI bank branches are 8AM-8PM which has been proposed to 9AM-6PM.<\/p>\n
The bank has spread its reach far across the globe with branches in\u00a0Canada, USA, Singapore, Malaysia, Thailand, Sri Lanka. It has established its presence in places such as Kuala Lumpur, San Francisco, San Jose, New York, California\u00a0etc.<\/p>\n
As the bank is playing an important role in country\u2019s Political, Socio- economic, Technological environment as it provides many facilities to many customers throughout many countries and future plans are to expand the branches across the borders to meet the pace of Globalization and contribute to maximum Optimum utilization of resources in a well structured manner.<\/p>\n
In 1955, The Industrial Credit and Investment Corporation of India Limited (ICICI) was incorporated at the initiative of World Bank, the Government of India and representatives of Indian industry, with the objective of creating a development financial institution for providing medium-term and long-term project ( help with nursing paper writing from experts with MSN & DNP degrees) financing to Indian businesses. In 1994, ICICI established Banking Corporation as a banking subsidiary. Formerly known as Industrial Credit and Investment Corporation of India, ICICI Banking Corporation was later renamed as \u2018ICICI Bank Limited\u2019. ICICI founded a separate legal entity, ICICI Bank, to undertake normal banking operations \u2013 taking deposits, credit cards, car loans etc. In 2001, ICICI acquired\u00a0Bank of Madura\u00a0(est. 1943). Bank of Madura was a\u00a0Chettiar\u00a0bank, and had acquired\u00a0Chettinad Mercantile Bank\u00a0(est. 1933) and\u00a0Illanji Bank\u00a0(established 1904) in the 1960s. In 2002, The Boards of Directors of ICICI and ICICI Bank approved the reverse merger of ICICI,\u00a0ICICI Personal Financial Services Limited\u00a0and\u00a0ICICI Capital Services Limited, into ICICI Bank. After receiving all necessary regulatory approvals, ICICI integrated the group\u2019s financing and banking operations, both wholesale and retail, into a single entity. At the same time, ICICI started its international expansion by opening representative offices in\u00a0New York\u00a0and London. In India, ICICI Bank bought the\u00a0Shimla\u00a0and\u00a0Darjeeling\u00a0branches that\u00a0Standard Chartered Bank\u00a0had inherited when it acquired\u00a0Grindlays Bank.<\/p>\n
In 2003, ICICI opened subsidiaries in Canada and the United Kingdom (UK), and in the UK it established an alliance with Lloyds TSB. It also opened an Offshore Banking Unit (OBU) in Singapore and representative offices in Dubai and Shanghai. In 2004, ICICI opened a representative office in Bangladesh to tap the extensive trade between that country, India and South Africa. In 2005, ICICI acquired Investitsionno-Kreditny Bank (IKB), a Russia bank with about US$4mn in assets, head office in\u00a0Balabanovo\u00a0in the\u00a0Kaluga\u00a0region, and with a branch in\u00a0Moscow. ICICI renamed the bank ICICI Bank Eurasia. Also, ICICI established a branch in\u00a0Dubai\u00a0International Financial Centre and in\u00a0Hong Kong. In 2006, ICICI Bank UK opened a branch in\u00a0Antwerp, in Belgium. ICICI opened representative offices in\u00a0Bangkok,\u00a0Jakarta, and\u00a0Kuala Lumpur. In 2007, ICICI amalgamated Sangli Bank, which was headquartered in\u00a0Sangli, in\u00a0Maharashtra\u00a0State, and which had 158 branches in Maharashtra and another 31 in\u00a0Karnataka\u00a0State. Sangli Bank had been founded in 1916 and was particularly strong in rural areas. With respect to the international sphere, ICICI also received permission from the government of\u00a0Qatar\u00a0to open a branch in\u00a0Doha. Also, ICICI Bank Eurasia opened a second branch, this time in St. Petersburg. In 2008, The\u00a0US Federal Reserve\u00a0permitted ICICI to convert its representative office in\u00a0New York\u00a0into a branch. ICICI also established a branch in Frankfurt. In 2009, ICICI made huge changes in its organization like elimination of loss making department and re-stretching outsourced staff or renegotiate their charges in consequent to the recession. In addition to this, ICICI adopted a massive approach aims for cost control and cost cutting. In consequent of it, compensation to staff was not increased and no bonus declared for 2008-09.<\/p>\n
On 23 May ICICI Bank announced that it would merge with\u00a0Bank of Rajasthan\u00a0through a share-swap in a non-cash deal that values the Bank of Rajasthan at about\u00a0Indian rupee3,000 crore. ICICI announced that the merger expand ICICI Bank\u2019s branch network by 25%.<\/p>\n
On 18h October 2010, ICICI will inaugurate I-Express, an instant cross-border money transfer option for Non-Resident Indians (NRIs). This service will be available through the ICICI Bank\u2019s select partners in the\u00a0Gulf Cooperation Council.<\/p>\n
ICICI Bank is India\u2019s second-largest bank with total assets of Rs. 3,634.00 billion (US$ 81 billion) at March 31, 2010 and profit after tax Rs. 40.25 billion (US$ 896 million) for the year ended March 31, 2010. The Bank has a network of 2,509 branches and 5,808 ATMs in India, and has a presence in 19 countries, including India. 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 in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany.\u00a0<\/p>\n
ICICI Bank\u2019s equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).<\/p>\n
ICICI Bank has been in focus in recent years because of alleged harassment of customers by its recovery agents. Listed below are some of the related news links:<\/p>\n
ICICI Bank was fined\u00a0Indian rupee55 lakh for hiring goons (known coloquially as \u201cgoondas\u201d) to recover a loan. Recovery agents had ,allegedly, forcibly dragged out a youth (who was not even the borrower) from the car, beaten him up with iron rods and left him bleeding as they drove away with the vehicle. \u201cWe hold ICICI Bank guilty of the grossest kind of deficiency in service and unfair trade practice for breach of terms of contract of hire-purchase\/loan agreement by seizing the vehicle illegally,\u201d\u201dNo civilised society governed by the rule of law can brook such kind of conduct\u201d said Justice Kaleem, who was born in Laddhawala, Muzaffarnagar is the president of the consumer commission. [11], [12], [13], [14], [15], [16], [17], [18]<\/p>\n
Four ICICI loan employees arrested on theft charges in Punjab. [19]<\/p>\n
ICICI Bank told to pay\u00a0Indian rupee1 lakh as compensation for using unlawful recovery methods. [20]<\/p>\n
RBI warns ICICI Bank for coercive methods to recover loans. [21]<\/p>\n
ICICI Bank drives customer to suicide \u2013 Four men including an employee of ICICI Bank booked under sections 452, 306, 506 (II) and 34 of IPC for abetting suicide. According to the suicide note they advised him, \u201cIf you cannot repay the bank loan, sell off your wife, your kids, yourself, sell everything at your home. Even then if you cannot n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Study Bay Coursework Assignment Writing Help This paper explores the linkage between organizational structure and cross-cultural management. It suggests that a fluid and continuously evolving\u2026<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7822,7724,7820,7548,7826,8080,8079,8077,8078,8081,7605],"tags":[103,95,83,94,80,86,79,98,93,104,7647,99,92,82,102,85,8,101,97,87,96,91,89,90,88,100,1402,84,6940,81],"class_list":["post-85678","post","type-post","status-publish","format-standard","hentry","category-best-dissertation-writing-service-uk","category-best-dissertation-writing-services","category-dissertation-title-generator","category-dissertation-writing-services-cost","category-dissertation-writing-services-in-usa","category-master-thesis-writing-service","category-online-thesis-writing-services","category-phd-dissertation-help-and-editing-helper-in-usa","category-professional-dissertation-writing-service","category-write-my-dissertation","category-writing-dissertation-and-grant-proposals","tag-150-200-words-discussion-with-a-scholarly-reference","tag-200-300-words-response-to-classmate-discussion-question","tag-250-word-analysis-essay","tag-bachelor-of-nursing-assignments","tag-case-study","tag-essay-bishops-website","tag-expert-online-nursing-writing-service","tag-fast-nursing-papers","tag-freelance-case-study-writing-service","tag-health-medicine-assignment-help-australia","tag-health-care-an","tag-health-care-assignment-help-service","tag-healthcare-assignment-writing-services-by-top-writers","tag-healthcare-essay-writing-services-by-medical-academics","tag-healthcare-writing-help-by-certified-medical-academics","tag-i-need-to-submit-this-assignment","tag-medical-essay-writing-service","tag-nursing-assessment-help","tag-nursing-assignment-help","tag-nursing-assignment-help-australia","tag-nursing-assignment-help-sydney","tag-nursing-assignment-writers","tag-nursing-assignments-examples-assignment-help-nursing","tag-pay-someone-to-do-my-nursing-assignment","tag-professional-case-study-writers","tag-quality-nursing-essay-writing-service","tag-write-a-paper","tag-write-a-review","tag-write-an-essay","tag-writing-assignment"],"_links":{"self":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/85678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/comments?post=85678"}],"version-history":[{"count":0,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/85678\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/media?parent=85678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/categories?post=85678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/tags?post=85678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}