Download Pest Analysis of Banking Industry PDF

TitlePest Analysis of Banking Industry
Tags Economic Growth Banks Credit (Finance) Deficit Spending
File Size122.8 KB
Total Pages8
Document Text Contents
Page 1

LOVELY PROFESSIONAL UNIVERSITY

Assignment-2 (Online)

School of Business

Name of the faculty member: Akashdeep Joshi

Course Code: MGN 303 Course Title: Business
Environment

Class: BBA, Semester: 5th Section: Q1411

Batch: 2015-2018 Max. Marks: 30

Date of Allotment: 24-09-2016 Date of Submission: 14-
10-2016

Important Note:

1. Date of Submission of written report online: 14-10-2016

2. It is an individual Assignment to be uploaded online individually.

3. No two Students have the same company if they are having same
sector so kindly see the whole document and let it verified with the
other person with the same sector.

4. Sector may be same but not the company

S.
No

Roll No. Objectives of
Academic
Activity

Topic Details Evaluation
Parameters

Expected
outcomes

1 All students
(Individual
Assignment)

To enhance the
conceptual as well
as analytical skills of
the student

Students are required to
choose one organization
each from the assigned
industry by the faculty.
They are required to do
(external)environmental
analysis and give
examples from the
selected organization
related to application of
the environmental
analysis. Based on the
analysis of various
sources
of information, student
needs to submit report
about the
environmental factors

Introduction of the industry
& company:
5 marks

Environmental
analysis 10 marks,
Examples from the
organization 10 marks

Reference: 5 marks

This academic
tasks focus on
the following:
Students will
able to
understand the
practical
aspects
regarding how
to analyze the
external
environment
for a company
by having
information
from various

Page 5

ICICI Bank will be spending Rs 200 crores on social sector projects this fiscal and meet the
mandatory two per cent CSR spend norms. The bank will be spending almost Rs 100
crores on skill development. The bank has already trained 60,000 underprivileged people in
13 specifically identified skill-sets, and is targeting to take the number to 100,000 in the next
15 months



Technological environment

With the technological advancement, banking has seen vital changes in operations and
has now focused on customer centric approach, universal banking, ATMs, internet
banking, interactive kiosks, core banking, ERP, etc. and improved efficiency and
productivity. Banks are now focusing on cashless, paperless and hassle-free working.
As per KPMG, non-cash payment comprised of 91% in value terms compared to 88% in
2010. Also, the payments made through cheques have also come down.

Establishment of computers, internet connectivity, RTGS and NEFT, MICR Cheques,
ECS were all significant milestones in past decade. The continuous advancement in
technology changed the way the bank interacts with consumer. Now, we have the virtual
banking concept to roll out in market wherein the products or services are available only
on electronic modes and these are competitively and attractively priced so as to invite
customer to non-branch banking world, thereby reducing costs. With digitalization of
transactions, wireless transfer of funds, paper less culture, etc. the banks have
opportunity of improving the overall productivity, reduce cost and provide better
customer service.

In a move that could revolutionize trade financing, ICICI Bank has settled an export
transaction in minutes as against the usual three days using a custom-
made blockchain network with Middle Eastern counterpart, Emirates NBD. This was the
first blockchain-based trade payment in India and the bank is now talking to others to
grow the network. ICICI has joined the ranks of a few global institutions that are
pioneers in this field. ICICI Bank has used this new technology for transferring money
as well as trade documents relating to purchase order, invoice, shipping & insurance,
electronically in real time. The bank has co-created the network with EdgeVerve
Systems, an Infosys arm. The usage of blockchain technology simplifies the process
and makes it almost instant—to only a few minutes. This is in contrast to the current
process which involves a complex and lengthy paper trail that requires international
shipping and courier

http://timesofindia.indiatimes.com/topic/blockchain
http://economictimes.indiatimes.com/icici-bank-ltd/stocks/companyid-9194.cms
http://timesofindia.indiatimes.com/topic/trade

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