ICICI Bank Complaints & Reviews

ICICI Bank — Unauthorised deduction from borrowers account

In Apr. 2007, ICICI bank failed to intimate me about the raise in EMI. I received this information only during Jun.

Promptly I made a part payment to reset the EMI & opted for ECS which was linked to my SB account.

ICICI claims that I have to pay the difference in EMI for 3 months. It has even gone ahead and deducted this amount from my account without even intimating me or taking my approval.

First, it is the duty of the bank to intimate the borrower about changes in EMI.

Second, the bank has no authorisation to deduct money from accounts without prior approval of the account holder.

In spite of repeated mails to ICICI, they are not accepting the mistake & insist that they are correct.

savings bank account — unauthorised deduction of money & non refund of the amount

Sub:- Deducting money without authorization and non refunding the deducted amount.

Dear Sir,

On 14/03/08 ICICI BANK deducted Rs48000/- (Rs 12000/- four times) without any instruction from my s.b.a/c no[protected] of ICICI Bank Ghaziabad and credited to some other persons life insurance policy account .On giving repeated complaint with customer care of bank it was intimated that deduction was done by mistake on the part of bank. Rs 36000/- was credited back into my account after 2 weeks. The balance amount of Rs. 12000/- is yet to be returned to me though more than one month has passed. Kindly do the needful for getting the remaining amount of Rs 12000/ back into my account with monetary compensation for hardships and interest due. Both
Ghazibad branch official and centralised online transection and customer care are passing buck to each other without owning responsibility for solving the problem. Similarly both savings banks services & demat services are not owning the resposnibility

K.G.Jayamini

ICICI Credit cards — unauthoried deduction from salary account

Dear sir,

on 16th december 2008, a total of Rs.41240.80 was directly deducted from my
ICICI Bank salary account.The message indicated that this amount was deducted
for my credit card settlement.But unfortunately i was never been notified about this
by the credit card department either by phone calls or by mails.
further, with out the prior intimation or authoriation from the customer how can the
ICICI credit card department deduct this huge amount from a persons SB account.

i fear if ICICI would ruin my life in future, by performing such unauthoried illeagal
transaction with in their departments.

i would request you to kindly help me from this disaster, or otherwise it would put
my life in a miserable situation.

even after repeated notification of the change of my earlier residence, its the mistake
by ICICI credit card department for not updating my new residential address.
because of which i was not in a position of recieving any of their mails or statements.

i would hence request you to kindly provide me with a solution.

Name : Mr.Praveen Nair
Phone : +91 [protected]
ICICI credit card no. - [protected]
ICICI S/B Account[protected]

awaiting a reply,
regards,

Praveen Nair

My case is also similar to your's. I have lodged a complaint in my HR deptt.

This has ref. with the unlawful practices initiated by ICICI Bank with our corporate salary accounts.
I have my salary account with ICICI Bank since Aug. 2006…..A/c No. 0322****2824.
ON 16th march, I received an SMS from ICICI stating that Rps 37, 6876 has been debited from my salary account to compensate the payment of my another ICICI credit card.
My Credit card and the Debit card both are independent things, how can they mix both accounts.
This has been done without any prior information.
I am amazed that how can they do this without informing the account holder or the company.
kindly advise.


Best Regards,
Sunil Sharma
Executive, Tr-2
Delhi International Airport (P) Limited
IGI Airport, Terminal 2
New Delhi - 110 037
LandLine No. [protected]
Mobile No. [protected]
Email: sunil.[protected]@gmrgroup.in
Website: www.newdelhiairport.in

This is one of the reason which led me believe that ICICI bank cheates its customers and take away the hard earned money of the persons who put their faith in icici bank. I tell one and all to boycott ICICI Bank

my selary account in your branch (Bathinda Punjab).A/C[protected], i am working in HFCL infotel ltd,
but 2 time deabit amount Rs 827 without any information.
So plz justify & revers Amount my a/c

Thanks
puneet srivastav
[protected]

my selary account in your branch (Bathinda Punjab).A/C[protected], i am working in HFCL infotel ltd,
but 2 time deabit amount Rs 827 without any information.
So plz justify & revers Amount my a/c

Thanks
puneet srivastav
[protected]

I have a saving bank account with TEYNAMPET P.O. (Tamil Nadu) No.3320335. A cheque purported to have been issued by me on 13/2/03 was neither entered in the pass book nor in their (Postal Dept) ledger and they have been making claim from me without providing any evidence. Due to their frequent reminders, I have issued a cheque for Rs.3500/- on S.B.I Raja Annamalaipuram asking them to produce the cheque purported to have been issued by me before cashing my cheque. However they have encashed my cheque for Rs.3500/- WITHOUT PRODUCING the evidence (THE CHEQUE) for my perusal. I have also written several letters to the Post Master General, Mount Road, Chennai 600002 in this connection and there was no reply. PLEASE INVESTIGATE.
P.L.Subramaniam
167 St. Mary's Road,
S.B.I OFFICERS' COLONY
Chennai 600018. Tel No 24995159 e-Mail address: [protected]@yahoo.co.in

ICICI — unauthorised deduction from savings bank account

I have a savings salary account with ICICI Bank.

Last weekend ICICI bank has deducted about Rs 14,000 from my salary account. I called ICICI customer care and they told it has been linked with the credit card I used to have around 3 years ago. There was a disputed amount of around 3-4 thousand which after my repeated complaints, was never taken care of and it seems they kept charging interest and other fees. I had always been willing to pay all the genuine expenses I have made through the card however the bank should refund the unreasonable charges.

I had asked for settlement but never got any letter for settlement and now suddenly they have deducted this amount from my salary account last monday.

As far as I know the savings account and credit card both are separate entities in a Bank. Bank cannot make any transaction without my consent. This is totally unacceptable and frustrating. I even called up customer care but in vain.


Kindly suggest how can I recover.
Any help would be highly appreciated.

Suchait Sachdeva
suchait.[protected]@gmail.com
credit card: [protected]

Hi,

We are sorry to hear about your experience. We have made a note of your email id. We'll contact you and work to address your issue at the earliest.

Regards,
ICICI Bank Customer Service Team

********************************************************************************...⇄
Developing a Formal Invitation
1. Place Samford's seal or logo at the top. (Seal use must be approved by President's Office.)

2. List the name(s) of the host(s), using the host's full name. Omit honorifics such as Dr., Mr., Mrs. and Ms. unless the person holds an official rank.

The host's title goes on a line beneath the host's name. When there are multiple hosts, the most senior person's name is listed first. The exception to

this rule is for the president and spouse (i.e., "President and Mrs. Andrew Westmoreland, " no title beneath).

3. Extend the invitation.
very formal: "request(s) the pleasure of your company at"
less formal: "cordially invite(s) you to"

4. List the event, such as "dinner, " a reception" or "lunch."

5. Give the purpose of the event (i.e., "in honor of...").

6. Give the date.
very formal: "Friday, the twelfth of February"
less formal: "Friday, February 12"

7. Write out the time (i.e., "at seven o'clock"). Add "in the morning, " "in the afternoon" or "in the evening" if the event title doesn't give an

indication. It would be unnecessary to list "in the evening" if the event is a dinner, for example.

8. Give the location, including street address. For campus buildings, state the room within the building and the building name. For an off-campus

property, state the full name, street address and city.

9. List any special instructions, such as "map enclosed."

10. List R.S.V.P. information. If you are issuing an invitation without a separate response card, print the address and telephone number of the person

handling replies. If you are supplying response cards, state "Response card enclosed." Do not list a cutoff date for a reply.

Formal Invitation Sample
J. Bradley Creed
Provost and Executive Vice President
requests the pleasure of your company
at dinner
in honor of Walter Isaacson
Friday, the twelfth of February
at seven o'clock
in the Grand Ballroom
The Club
One Robert Smith Drive
Homewood

map enclosed

R.S.V.P. Office o[censored]niversity Relations
[protected]



Semiformal Invitation Sample
President and Mrs. Andrew Westmoreland
cordially invite you
to dinner
to welcome the university's new provost
Friday, February 12
at 7 p.m.
in the Flag Colonnade
Ralph Waldo Beeson University Center

Response card enclosed


*************
1. Place Samford's logo at the top.

2. List the name(s) of the host(s). Omit honorifics such as Dr., Mr., Mrs. and Ms. unless the person holds an official rank. The host's title goes on a

line beneath the host's name. When there are multiple hosts, the most senior person's name is listed first. The exception to this rule is for the

president and spouse (i.e., "President and Mrs. Andrew Westmoreland, " no title beneath).

3. Extend the invitation.
semiformal: "cordially invite(s) you to"
informal: "invite(s) you to join us"

4. List the event, such as "dinner, " a reception" or "lunch."

5. Give the purpose of the event (i.e., "in honor of...").

6. Give the date (i.e., "Friday, February 12").

7: State the time (i.e., "at 7 p.m.").

8. Give the location, including street address. For campus buildings, state the room within the building and the building name. For an off-campus

property, state the full name, street address and city.

9. List any special instructions, such as "map enclosed."

10. List R.S.V.P. information. If you are issuing an invitation without a separate response card, print the address and telephone number of the person

handling replies. If you are supplying response cards, state "Response card enclosed." Do not list a cutoff date for a reply.

Informal Invitation Sample
Bobby Bryant
Dean of the McWhorter School of Pharmacy
and
Matt Kerlin
Minister to the University
invite you to join us
for a picnic lunch
to celebrate the new medical missions program
Friday, February 12
at 12 p.m.
at Ben Brown Plaza
********************************************************************************...⇄
The term 'Assessment Centre' can be defined as ‘A method for assessing aptitude and performance; applied to a group of participants by trained

assessors using various aptitude diagnostic processes in order to obtain information about applicants' abilities or development potential.’

As you can see, this does not refer to a location, but to a process which is being increasingly used by organizations to assess staff, either as part of

the recruitment process or for internal promotion. Assessment Centres allow you to demonstrate aptitude and general skills related to the requirements of

the job.

The Assessment Centre develops a set of varied exercises which are designed to simulate different aspects of the work environment. These exercises

usually last from half-a-day to two full days. They are usually conducted at the employer's training facility or in facilities provided by the HR

consultancy, that have been contracted to design and conduct the testing.

Types of Assessment and Development Centre Exercise
The most common type of assessment centre exercises include:



An in-tray or in-basket exercise asks to assume a particular role as an employee of a fictitious company and work through the correspondence in your

in-tray. This exercise is designed to measure your ability to organize and prioritize work.

In a presentation exercise, you will be given a topic or possibly a choice of topics and asked to make a presentation of around ten minutes with five

minutes at the end for questions. This is designed to measure your presentation skills including your ability to organise and structure the information and

to communicate your points clearly and concisely.

Group discussion exercises involve you working with other candidates as part of a team to resolve a presented issue. These exercises are designed to

measure interpersonal skills such as group leadership, teamwork, negotiation, and group problem solving skills.

Panel interviews are regarded as a more objective means of assessing your suitability as you will be interviewed by between three and five people and

therefore the decision is not reliant on just one person's opinion. In addition, they are usually more structured than a one-to-one interview as the panel

need to assess all of the candidates against the same criteria.

The expense of conducting an assessment centre is usually somewhere between $1, 000 and $5, 000 per candidate. This tends to restrict their use to

situations where the costs can be justified in terms of preventing high expenses associated with unsuitable personnel e.g. high staff turnover or poor job

performance resulting in low productivity.

Assessment centres are seen as one of the most effective ways of identifying top candidates who'll get on well with others and fit in with the

organizations culture. According to the Chartered Institute of Personnel and Development's ‘Recruitment, Retention and Turnover 2004 Survey’, 34 per

cent of employers now use assessment centres when recruiting managers, professionals and graduates. This figure will inevitably grow as organizations

seek to make more accurate selection and promotion decisions.

The assessment centre method is utilized in a variety of settings including industry and business, government, armed forces, educational institutions, and

safety forces to select individuals for supervisory, technical, sales, or management positions. One recent trend is in the development of mass testing.

This is done by video-taping candidates as they perform various exercises and by using objectively scored exercises. This permits the assessment of a

much larger number of candidates per day as the scoring is done later and requires far less observation and administration.



Assessment centres are usually used after the initial stages of the selection process, because of the large amount of time and expense in conducting

them, and usually follow the initial job interview. Other measurements such as psychological tests may complement the selection process. They are

commonly held either on employers’ premises or in a hotel and are considered by many organizations to be the fairest and most accurate method of

selecting staff. This is because a number of different selectors get to see you over a longer period of time and have the chance to see what you can

do, rather than what you say you can do, in a variety of situations.

How are the Assessment and Development Centre Exercises Conducted?
Assessment Centres may be conducted by HR personnel within the employer company or by outside consultants. They are highly structured in their

design, application, and assessment procedure and are specifically adapted to assess factors such as your level of skills, aptitude and compatibility with

the organization's culture. Each test measures a range of indicators within these factors.

During each test, a group of observers will rate you on a range of set indicators, using a prescribed performance scale. Results are then cross compared

against the same indicators, which are measured in other tests. Following test completion, observers meet to discuss the test results and reach a group

consensus about your ratings.

At the beginning of the assessment, you should receive an initial briefing about the timetable of tests, location of rooms etc. Prior to each test, you

will be given instructions describing the exercise, your role, timeframe's, equipment etc. You will not be told in detail about the individual indicators

which will be measured. In addition, you are unlikely to receive feedback on your results, unless you have been successfully selected.
********************************************************************************...⇄


-cooperation aggressiveness, LEADERSHIP does it make sense

Great attitude = great managers
The prime impetus to pursue a management specialisation is the fact that it is the most sought-after qualification today. There is no denying the

importance of management education, since it is the acquisition of this knowledge that instils a new confidence and poise, making individuals ready to

meet the challenges and opportunities of the corporate world.

But beyond the management concepts and skills that you imbibe at B-school, the one critical aspect that makes or mars your career is attitude. The

right attitude centres on the WIN principle -- Work hard, Innovate and Never give up.

Most people work for 25 to 30 years, which can be broadly divided into four phases of five to seven years each. The first lasts roughly five years

during which you learn to perform as an individual and as part of a team. Along the way you learn the significance of individual performance to the

results achieved by the team.

In the second phase, when the individual leads the team as a manager, he learns that he is as good as his team. If he is able to motivate his team to

put in 100 per cent, he can deliver 100 per cent. In the process, he hones his people management, relationship building, crisis resolving and

decision-making skills.

The third and fourth phases are the most critical, where the practical training and exposure of the first two phases are instrumental in helping you

withstand the pressures of the top and succeed.

In the fourth phase, you are expected to take care of the CEO: Customers, Employees and the Organisation/owners. That's where your experience,

foresight and understanding of the business model and its needs come into play. Remember, the top of the pyramid is narrow -- there's room only for

the best.

Aggressive
Aggressive managers who blame others when things go wrong are more likely to get promoted than managers who feel guilty and accept responsibility for

failure – or so many employees believe.

co-operative manager
What is a co-operative manager? The obvious answer is - the manager of a co-operatve. But, the question goes beyond the literal - it is a critical

question for all co-operatives because managers of co-operatives require co-operative specific commitments and skills.

In appointing managers who do not have the necessary co-operative commitment and skills, co-operatives are introducing a risk that could eventuate in

co-operative failure - as a co-operative if not as a business.

See also the paper: Why do co-operatives fail as co-operatives?

The boards of co-operatives are accountable to members for the managers they appoint. Boards have to recruit managers who have the competencies

required to manage the co-operative but also to reflect and reinforce co-operative values and principles.

A board must have a capacity to judge the required competencies of a manager for the co-operative- including how and when a co-operative manager

reflects and reinforces co-operative values and principles. There are general competencies required of all managers and these include:

Understanding and setting goals and targets.
Staff management.
Time management.
Financial management.
Making effective and efficient decisions.
Distinguishing between data and information.
Understanding the differences between causes and consequences.
Using technology effectively and efficiently.
Selecting and using advisers.
The management of conflict.
In addition, there are the specific competencies required for a co-operative that depend on the nature of the business, its developmental stage, its size

and its technological complexity.

Leadership
Leadership skills are needed at every level in the organization. Consistent training and approach from the executive level through managers and

supervisors will help all in the organization develop their leadership skills.
In any organization leadership qualities can always be expanded. With Six Sigma Plus one of the objectives is to expand the concept of leadership skills

beyond that of organizational position. Frequently people equate leadership with some title, position, or rank. Those who have demonstrated leadership

qualities frequently have these titles. Unfortunately there are cases where the title or position has been granted before the leadership skills have been

developed. This is an indication of lapse of leadership responsibility by those who place an unprepared person in a role requiring extensive leadership

skills. Too often very successful technical people are placed in roles with leadership requirement without being prepared. The best engineer is made

Engineering Manager or the best operator is made Supervisor. None o[censored]s would allow people untrained in Civil Engineering to design and build a major

highway. Neither would many o[censored]s willingly go into surgery with the person performing the operation having no training in medicine. Yet many of our

management and supervisory positions are filled with very competent technical people with little preparation for management or supervisor duties. In those

cases there are basically two options. One is to move along and hope that instinct and a good support structure will be adequate. The second option is

begin accelerated leadership training aimed at developing the leadership skills and knowledge base required for a leadership position.

One measure of success in leadership is the cultivation of employees. This employee empowerment and employee motivation makes leaders much more

effective and efficient

Theory Z is an approach to management based upon a combination of American and Japanese management philosophies and characterized by, among other things, long-term job security, consensual decision making, slow evaluation and promotion procedures, and individual responsibility within a group context. Proponents of Theory Z suggest that it leads to improvements in organizational performance. The following sections highlight the development of Theory Z, Theory Z as an approach to management including each of the characteristics noted above, and an evaluation of Theory Z. Realizing the historical context in which Theory Z emerged is helpful in understanding its underlying principles. The following section provides this context.

DEVELOPMENT OF THEORY Z
Theory Z has been called a sociological description of the humanistic organizations advocated by management pioneers such as Elton Mayo, Chris Argyris, Rensis Likert, and Douglas McGregor. In fact, the descriptive phrase, "Theory Z." can be traced to the work of Douglas McGregor in the 1950s and 1960s. McGregor, a psychologist and college president, identified a negative set of assumptions about human nature, which he called Theory X. He asserted that these assumptions limited the potential for growth of many employees.

McGregor presented an alternative set of assumptions that he called Theory Y and were more positive about human nature as it relates to employees. In McGregor's view, managers who adopted Theory Y beliefs would exhibit different, more humanistic, and ultimately more effective management styles. McGregor's work was read widely, and Theory Y became a well-known prescription for improving management practices.

But in the 1970s and 1980s, many United States industries lost market share to international competitors, particularly Japanese companies. Concerns about the competitiveness o[censored]. S. companies led some to examine Japanese management practices for clues to the success enjoyed by many of their industries. This led to many articles and books purporting to explain the success of Japanese companies. It was in this atmosphere that Theory Z was introduced into the management lexicon.

Theory Z was first identified as a unique management approach by William Ouchi. Ouchi contrasted American types of organizations (Type A) that were rooted in the United States' tradition of individualism with Japanese organizations (Type J) that drew upon the Japanese heritage of collectivism. He argued that an emerging management philosophy, which came to be called Theory Z, would allow organizations to enjoy many of the advantages of both systems. Ouchi presented his ideas fully in the 1981 book, Theory Z: How American Companies Can Meet the Japanese Challenge. This book was among the best-selling management books of the 1980s.

Professor Ouchi advocated a modified American approach to management that would capitalize on the best characteristics of Japanese organizations while retaining aspects of management that are deeply rooted in U.S. traditions of individualism. Ouchi cited several companies as examples of Type Z organizations and proposed that a Theory Z management approach could lead to greater employee job satisfaction, lower rates of absenteeism and turnover, higher quality products, and better overall financial performance for U.S. firms adapting Theory Z management practices. The next section discusses Ouchi's suggestions for forging Theory Z within traditional American organizations.

THEORY Z AS AN APPROACH TO MANAGEMENT
Theory Z represents a humanistic approach to management. Although it is based on Japanese management principles, it is not a pure form of Japanese management. Instead, Theory Z is a hybrid management approach combining Japanese management philosophies with U.S. culture. In addition, Theory Z breaks away from McGregor's Theory Y. Theory Y is a largely psychological perspective focusing on individual dyads of employer-employee relationships while Theory Z changes the level of analysis to the entire organization.

According to Professor Ouchi, Theory Z organizations exhibit a strong, homogeneous set of cultural values that are similar to clan cultures. The clan culture is characterized by homogeneity of values, beliefs, and objectives. Clan cultures emphasize complete socialization of members to achieve congruence of individual and group goals. Although Theory Z organizations exhibit characteristics of clan cultures, they retain some elements of bureaucratic hierarchies, such as formal authority relationships, performance evaluation, and some work specialization. Proponents of Theory Z suggest that the common cultural values should promote greater organizational commitment among employees. The primary features of Theory Z are summarized in the paragraphs that follow.

LONG-TERM EMPLOYMENT
Traditional U.S. organizations are plagued with short-term commitments by employees, but employers using more traditional management perspective may inadvertently encourage this by treating employees simply as replaceable cogs in the profit-making machinery. In the United States, employment at will, which essentially means the employer or the employee can terminate the employment relationship at any time, has been among the dominant forms of employment relationships. Conversely, Type J organizations generally make life-long commitments to their employees and expect loyalty in return, but Type J organizations set the conditions to encourage this. This promotes stability in the organization and job security among employees.

CONSENSUAL DECISION MAKING
The Type Z organization emphasizes communication, collaboration, and consensus in decision making. This marks a contrast from the traditional Type A organization that emphasizes individual decision-making.

INDIVIDUAL RESPONSIBILITY
Type A organizations emphasize individual accountability and performance appraisal. Traditionally, performance measures in Type J companies have been oriented to the group. Thus, Type Z organizations retain the emphasis on individual contributions that are characteristic of most American firms by recognizing individual achievements, albeit within the context of the wider group.

SLOW EVALUATION AND PROMOTION
The Type A organization has generally been characterized by short-term evaluations of performance and rapid promotion of high achievers. The Type J organization, conversely, adopts the Japanese model of slow evaluation and promotion.

INFORMAL CONTROL WITH FORMALIZED MEASURES
The Type Z organization relies on informal methods of control, but does measure performance through formal mechanisms. This is an attempt to combine elements of both the Type A and Type J organizations.

MODERATELY SPECIALIZED CAREER PATH
Type A organizations have generally had quite specialized career paths, with employees avoiding jumps from functional area to another. Conversely, the Type J organization has generally had quite non-specialized career paths. The Type Z organization adopts a middle-of-the-road posture, with career paths that are less specialized than the traditional U.S. model but more specialized than the traditional Japanese model.

HOLISTIC CONCERN
The Type Z organization is characterized by concern for employees that goes beyond the workplace. This philosophy is more consistent with the Japanese model than the U.S. model.

EVALUATION OF THEORY Z
Research into whether Theory Z organizations outperform others has yielded mixed results. Some studies suggest that Type Z organizations achieve benefits both in terms of employee satisfaction, motivation, and commitment as well as in terms of financial performance. Other studies conclude that Type Z organizations do not outperform other organizations.

Difficulties in the Japanese economy in the 1990s led some researchers to suggest that the widespread admiration of Japanese management practices in the 1970s and 1980s might have been misplaced. As a result, Theory Z has also received considerable criticism. It is unclear whether Theory Z will have a lasting impact on management practices in the U. S. and around the world into the twenty-first century, but by positioning target research at the organizational level rather then the individual level, Ouchi will surely leave his mark on management practice for years to come.
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OverviewIn the search for organisational success, many business organisations have sought to adopt what appear to be successful Japanesemanagement methods. The leading theorist in this field is William Ouchi, who, drawing on earlier work, has described the Japaneseapproach to management as ‘Theory Z.’(a) William Ouchi, a Japanese American, has concerned himself with comparing Japanese management techniques withAmerican. Ouchi uses the term ‘Theory Z’ for firms which use Japanese methods adapted to the Western system. Suchorganisations display certain characteristics:
–workers and managers trust their superiors
–a much longer time horizon is the norm; the idea of short
-term profit is rejected in favour of long-term growth
–there is a team approach. Departments see their position within the organisation as a whole
–a caring, paternal management unhampered by unions, demarcation or professional prejudices
–generalised training. Managers learn the business, not just parts of it
–a flexible organisation structure
–collective values and company wide rewards
–slow, but known promotion–lifelong employment.
(b) Theory Z requires an emphasis on interpersonal skills and group and team working; decisions are based on consensus, but, unlike in Japan from where the idea originates, responsibility remains with the individual.Trust and informal relationships are the keystone of Theory Z organisations, even though the formal hierarchy andorganisational traditional structure remain.It is often compared to Macgregor’s Theory Y approach in that it is seen as a more caring, sensitive and effective way ofachieving organisational success.The theory is dependent upon the demands of the organisational situation. Some organisations, as a consequence of theirproduct or service do not provide a suitable environment for the use of motivational techniques associated with Theory Z. Its strength lies in the fact that because of improved standards of education and changed social and political values, manyemployees have wider expectations from the workplace and expect to be consulted and to participate.The application of Theory Z will therefore depend upon:
–the organisational culture, structure and objectives
–the procedures and practices involved in the organisation
–the technology, environment and product or service
–the organisation’s history and attitude
–the level of satisfaction that already exists in an individual’s task or role

nature and type of budgeting ? explain zero base budgeting ?
nature and type of budgeting ? explain zero base budgeting ?

nature>

Determining what are the different types of budgeting could greatly facilitate the budgeting process. Types of budgeting depends on the use of the budget which could either be personal or business budgets.
Business and Personal Budgets
Budgeting is simply the creation of a plan to properly manage money. Budget usually covers a period of time for instance, one-year or five-year budget plan. It helps in the monitoring of cash flow so debt will be greatly reduced or totally eliminated.

What are the different types of budgeting? There are different types of budgeting depending on the use of the budget. For business use, Business Budget Types could come in the form of Capital Budgets, Operating Budgets and Cash Budget.


Capital Budgets
Capital budgets pertain to the allocation of money for investments and assets of the company. Operating Budgets are needed for the operational goals of the business such as the how much money to be allocated for the total operating expenses or determining the profit goals within the year. Cash Budget refers to the cash flow of the business – the cash in and cash out allocations.

Types of budgeting however do not only cater for business use alone. Another way to address the question 'what are the different types of budgeting' would be to include the Personal Budget Types. These budget types are directed towards the expenses and income of the family or even an individual. The type of budgets that fall under personal budget are : Envelope Budgeting and Spreadsheet Method.


Envelope Budgeting
Envelope budgeting is so-called because money is allocated by making an envelope for each expense that are normally incurred each month such as electricity or phone bills. The most common budgeting type however is the spreadsheet budgeting. In a standard spreadsheet, the expected income for the month is put at the top then expected expenses are subtracted from it. To do this in reverse, one can compute the total expenses in order to determine how much income the individual or family must come up with in order to cover all.

Knowing what are the different types of budgeting would greatly simplify the budgeting processes for both company and personal use. Having a budget could help one achieve optimal use of money and the resources at hand.
Zero-base budgeting
Zero-base budgeting does not use the previous year's budget or expenses in setting a new budget, since the company’s circumstances and finances may have changed. When building a budget from a zero base, every expense must be justified. This differs from only having to explain the amounts requested in excess of the funding received during the prior year or quarter. Zero-base budgeting helps you control spending and expenses because you build your budget from zero rather than building your budget on top of what was spent during the prior period funded


Introduction

I originally prepared this page for another client but felt that this was a better place for it!

From my researches over the years, I think you will find that this is the best summary article on the subject of zero base budgeting that you are likely to see.

Zero base budgeting hasn't exactly set the budgeting world on fire but it does have a lot to recommend it. Read this page and make up your own mind, though!

The Name Zero Base Budgeting!

The name zero base budgeting derives from the idea that such budgets are developed from a zero base: that is, at the beginning of the budget development process, all budget headings have a value of ZERO. This is in sharp contrast to the incremental budgeting system in which in general a new budget tends to start with a balance at least equal to last year's total balance, or an estimate of it.

Definition of Zero Base Budgeting (ZBB)

A method of budgeting whereby all activities are reevaluated each time a budget is set. Discrete levels of each activity are valued and a combination chosen to match funds available.
CIMA Terminology

This is not a very comprehensive definition; after all, it is not very descriptive as we'll see; and it does not mention the attainment of corporate objectives. Still, it's a beginning.

Objectives and Benefits of ZBB

What zero base budgeting tries to achieve is an optimal allocation of resources that incremental and other budgeting systems probably cannot achieve. ZBB starts by asking managers to identify and justify their area(s) of work in terms of decision packages (qv).

The way that ZBB forces managers to justify their work is by saying to them that unless and until they put forward a budget that more senior management can support, at least to a large extent, the budget will not be approved and funded. If ZBB is applied as literally as it is designed, then unjustified work simply stops, no matter who the boss is and no matter what work they are doing.

An effective zero base budgeting system benefits organisations in several ways. It will


Focus the budget process on a comprehensive analysis of objectives and needs
Combine planning and budgeting into a single process
Cause managers to evaluate in detail the cost effectiveness of their operations
Expand management participation in planning and budgeting at all levels of the organisation
(adapted from President Carter's memorandum referred to below)
Example of ZBB and Decision Packages

In order to explain ZBB, it's best if we work through an example. We'll keep the argument simple so that the concepts are clear.

Duncan plc consists of three departments A, B and C; and each department is in the process of preparing its budgets for the coming financial year. In addition to its mainstream work, each department is trying to secure funding for 2 new projects. However, only a total of two of these projects can be funded in addition to basic departmental funding, due to financing constraints.

A decision package is a plan or budget for each project or departmental plan. The decision aspect relates to each budget being decided on as being accepted or rejected; and it's called a package because, essentially, that's what it is: a whole package of initiatives, ideas and proposals. Table 1 illustrates decision packages for Department A.

It is also possible that the work of each department can be sub contracted by the organisation if it feels that an outside contractor can provide a better service than the internal departments. In practice, we see this kind of idea in the sub contracting of school meals, sub contracting refuse collection by Local Government … and the Xerox Corporation allowing its divisions to buy in payroll services and expertise from accounting organisations other than its own accounting department. For the sake of brevity, we won't pursue outsourcing here.

Dear Sir,
I am Ranjit Sardar
I have given a icici bank cheque no 733371 on 9th feb 09. in the name of hsbc credit card of mine for rs.4895/- the hsbc bank says it has not recieved the money till date i.e. on 1st mar 2009. i have been to the icici branch office in chinchwad where my account is and the account no. is[protected] but the customer executive was so rude she said that the amount of 4895/- is deposited, iasked her for statement but she said go to bhandarkar rd branch pune, what reason was given idont know but due to overshowing of excessive work the woman employee answer very rudely, and the call centre is also answering the same thing that cheque amount is debited but they r declining in whose name it is debited, the hsbc credit card says that no payment is recieved, Sir, i need a consolidated statement that in whose name the cheque is deposited, can any body from icici bank pune answer my querie, as i have recieved the interest statement from hsbc bank for non payment.

Dear Sir,

I have an account in icici bank chinchwad pune ac no[protected], on 9th i have deposited the icici cheque no 733371 dt 8.02.09 in the name of hsbc credit card of mine the bank says till today i.e on 1st march 2009 the payment is not recieved. i have been to the chinchwad branch but the lay executive said that it may have been credited in the suspense account of HSBC bank and she said that ur query woul be solve in the Bhandarkar Rd branch pune, where there was no concerned of sending me.

I need a quick solution to this problem or else i will seek legal help for harassing the customer, r u listening really.
Ranjit Sardar
[protected]

i agree all this complaint

Hi,

I have some problem in opening DMAT account.
I am talking from Sambalpur, Orissa.
One Agent named Mr. Manish of Sambalpur ICICI Branch, hold my file with all details for opening DMAT account for 3 months and at last he replied me "My Application form was old and thats why my application is being rejectd.".
I don`t know how ICICI is managing its business with this type of Agents who doesn`t have any idea about old Application Form and New Application Form.
Its very ridiculous and customer harashment I can say.

Could you please guide me to open my DMAT account.

Thanks in advance..

respected sir,
i have apply a 3 in 1 a/c of icici direct.com, of mr. Iswar chandrakar date. [protected] deposit at raipur branch there have not respondeing of the my a/c so please take a action for icici direct.com raipur branch.
with regards-
vinay agrawal

I have applied for ICICI Dmat account. Past 5months and I am yet to receive the service. Almost every weekend I visit the icici center only to get false promises by their employees.

The hights: They kept my form with them for four months and my cheque validity expired and I have to re-sign my cheque with the current date.

Basically I found that the Employees's are not educated to know the proceedings and are themselves confused. Even I found that the Center Manager "Narayana Rao" was highly confused with the proceedings. They even don't know where to take the customer's signature in the D-mat account opening form.

This is a disgusting and most impudent customer services I have ever experienced in the corporate world.

ICICI can't even open an account of a customer whose all the documents are correct.

icici dmat ac opening form — demat a/c opening form delay in registration.

sir,
this is to inform u that i havve applied for a new demat a/c
at icici gangtok sikkim branch on 20/9/08 .
form no. is [protected], but till date my form is not
registered neither any information about it is available
in customer care section of icici direct.com website
( as directed in the a/c opening form receipt)
===
from
bhaskar ray
ISPW STATION,
SECRETARIAT,
GANGTOK.
PH [protected]

i want to open a demat A/C in icici

i wanna want to open dmat account.

my opening demat account

All the people that who wants to open this bloody ICICI ZERO Balance Demat Account, First I have requested that kindly withdraw from that decession.Because I have faced somany problems in this issue from 3months and still now I did not received any information regarding the same.

Nearly 3 months one of excutive came to my work place and he collected all necessary documents and one SBH chq of Rs.750 and two passport photographs and he has given me one acknowledgement also which is like a waste paper.He said with in 15 days you will receive the chq book and net banking kit not only that i[censored] want to know your application status you can see icicidirect.com
through the application number on the acknowledgement.After some days I have checked the status of my application online but it has displayed this matter"there is no application exist with this details".I was surprised and call to the excutive he told me that u r aplication was rejected.After that incident I have received one call centre call for the account opening ok I have decided and given what documents and 2 pasport photos and now the chq is Rs.950.Still today i did not receive any call from themand this time also I have checked in the online the same answer was displayed that "there is no application exist with this details".Waste of time waste of cheques and Totally ICICI BANK is very very worse Bank and very waste services.

NOTE: SO PLEASE DO NOT WISH TO OPEN ANY ACCOUNT WITH ICICIC BANK OK

Hi all, im new here, my name is Lal, i have been reading your site for long, a very nice community.
I am from Djibouti and also now am reading in English, give please true I wrote the following sentence: "Title - internet sales of airline tickets."

Thanks for the help :P, Lal.

demat ac of icici — A/c not opened-- application missing?

Mumbai
One guy from the ICICI bank came to house and got application filled and signed with photo with address and id proofsbut the a/c was not opened after several months-on enquiry reasons given were address verification etc.
Phones would come again and again but they did not do the right thing.
last time talked to some persons at main place for demat they said address verification pending--when told what is the problem why-- they said application is lost fill up again.
If this is the service to a top management person what is the level of service one can see.

Dear Sir/Madam,

We will be happy to help you. Kindly write to us at [protected]@icicibank.com with ‘Customer Service issue – demat account' as the subject line. Request you to provide the relevant details of your account along with your full name and contact details.

Regards,

Nazia Sayeed
Office of the Nodal Officer
ICICI Bank

I want to open a demat account

ICICI is known for its inefficient and fraudulent services. From Mr. Kamath to any tom dick & harry associated with ICICI are born cheats.

well hi frnds, , sry for ur inconvenience . i read all ur comment, well icici direct is the one of best trading facility . but the thing is that the document provided by u are not up to mark so the main brach who check ur document . they reject ur application form so thats y it took so long time .. but i guess it wil take only 15 day to active ur demat acc ... for further details mail me ... mail id, . mrigank.[protected]@yahoo.co.in

Hi

I HAVE OPENED A DEMAT ACCOUNT ON 19TH OCTOBER AND STILL ITS NOT OPENED YET AND THE STATUS IS NOT UPDATED ALSO.ONE MONTH OF NO ACTIVITY,KINDLY DO THE NEEDFUL


FORM NO [protected]

i would like to apply for icici master card

You can have the cash in ATM GL balancing sheet checked for that particular day of the said ATM to knwo for sure if the bank recovered the extra cash. Simailraly you may watch the video recording of the ATM cabin to verify your claim taht no cash was dispensed to you.

Dear Sir / Madam

This refers to my discussion with ICICI Executive, Mr.Piyush today on the 23rd of March 2009.
My Credit Card No.is [protected] Issue Dt.01/07 & Exp.Dt.01/11.
In context to my earlier payment of Rs.3, 668.34/-, the cheque No.198128 Dt.06.12.08 was deposited in Thane-East ATM Branch on the 4th of December 2008. The said was lost in transit and a person from Collection dept has visit my home to collect the cheque of Rs.5, 778/- (Excl Late Payment Fees)on the 29th of December 2008.

A request was made to the ICICI Credit Card Executive for waiver off Late Payment fees, but however the havn't reversed the minimum amout due, which is Mandatory to be paid, as told by Mr.Piyush.

Since this is not my fault that the cheque got lost in transit, then why should I pay the Minimum amount.

However, I had made a transaction of Rs.200/- in the month of February 2009 and now ICICI Bank is asking for the minimum amt due plus Interest charges.

This means, for making a transaction of Rs.200/-, now I have to pay Rs.800/-, this is nothing but trying fool the customers.

Request you to kindly look into the matter and please HELP me.

Thanks & Regards,
Mazhar Sayed.
M:[protected].

this is rajesh vasani, from rajkot, i m having icici credit card, which was lost before a year and after wards was received, i had tried to make it livi, icici person answered that it was finished, u have to make new cause u had given lost application, now after six months saying that your card is currently on was not closed ever before, and when i had tried to solve this problem rajkot office they was agree to make my card live again by paying some amount, after thier recovery agent was harrased me a lot i had paid amount by settlement programme, now thay are not taking responsibility and harrasing me for paying amount in double, i am really depressed with this behaviour of icici credit card persons and call centres answer

After dissatisfied customer relations I have cancelled the SCB credit card and meeting the customer relation officer came to a settalment Rs.5000 and cleared it, they have issued a clearnace certificate from the company, but now they have issued defaulter customer in cbsil what to do further, My future banking loan is in question mark?

you are lucky. I am still waiting, its been 2 months since i asked for a new trading password. And 7 times, i have placed a request. NO USE, ICICI BANK SUCKS!!

i am forget internet banking password my complaint no. is SR[protected]

my complaint was- i am forget internet banking password my complaint no. is SR[protected]
but your answer is-you are lucky. I am still waiting, its been 2 months since i asked for a new trading password. And 7 times, i have placed a request. NO USE, ICICI BANK SUCKS!!
please tell me how i get internet banking password

please tell me how i get password

plz tell me how i get password

If you request for Transaction password today. God knows when it reaches.

All banks uses one time passwords. ICICI wants both login and transaction password + OTP.

how many passwords ICICI? why are you troubling customer in the name of security.

To,

The Manager ICICI Bank
Credit Card Department
India.

Sub: Reversal of Late Payment Fees and Intrest Charges of
Credit Card No. [protected]

Sir,
I hold a credit card of ICICI Bank of above Number [protected].
I have been member of ICICI credit card since Sep.2006. I paid my every bill regularly,
But because i was hospitalised in serious condition for last 8 months, that’s why i was
Unable to pay my bill on date, even that i have paid minimum due amount regularly. You
Have charged Late payment Fee and Intrest Charges every month on my card. I have
Called many times to the Customer Care Executives and as well as mailed them for the
Reversal of my Late Payment Fee and Intrest Charges, They have comitted me that
They will give the reversal of the same but they didn't do so, it was false
comittment, even they told me that they will not able to give reversal in one time, will
Give reversal in three (3) next staments with Rs.[protected] each and this will reflect in
My every next stament, but every time i was disappointed, so it’s a kind request to you
That you will consider my mail and give me maximum reversal so that I cleared my all
outstandings as soon as possible.

With Best Regards

Seema Sharma ([protected])
[protected]@yahoo.com

late fee charged rs. 600 evn tho i payed dues in time
on the folling dates
7/7/2008, 8/7/2008
with service tax followed by 74 rs.
so, plz get us conformed abt reversal of late fee money

REMINDER

As my complaint no. 7f11a, pls. reverse my bank statement of credit card no. [protected] and arrange to deliver this by courier or mail. Otherwise, i[censored] can't do this, so pls. cancel my credit card as i got already faid-up either i m going to remove this.

Pls. do needful asap.

Your response is awaited.

Dear Sir, Date:[protected]
To,
The RBI OF INDIA Costumer care manager/ The Complaint Board Manager /To the Manager of Credit Card,
ICICI BANK INDIA LTD,
Dear Sir,
I had written a complaint on Date:- 12/07/2009 against ICICI bank credit card but still this complaint has not solve but the above bank making the HARESMENT, TOURCHING AND USING VERY CHEAP WORDS, I had send the later to ICICI head office Mumbai and Hyderabad and same to RBI Mumbai and Hyderabad also, My card no( [protected]) this my card no but the above bank person has change my Card no [protected] without my knowledge and convert to in EMI which they asking monthly Emi Rs 7, 072-00 per month in 18 months which principal amount Rs86, 000 and I had lot of request to them I pay to ready what about principal amount without interest in 24 months Emi but there not here anything talking very rough language and use very cheap language which is we not able tell any body,
I request you to you all please see this matter and help me once again I request to you all please help me on this matter and solve and I ready to pay the payment which principal amount in Equal Emi in 24 months.
I hope to you all and help me on this matter.
Thanking you,
OM SUDEEP GOEL
Card no [protected]. / [protected]

I agree that ICICI bank has no measurement of their service levels.

Mr Kamath and M/s Kochar have to get up from slumber
and also giving interviews on TV's and look at their .

The service levels Average 14 days to issue a chequebook,
10 days to issue a fixed deposit receipt and a hopeless
IVRCL system where the audio quality is so poor as well as the
spacing of words, not to mention the disbursement of fake notes
on ATM machines and also the incorrect messages it provides
when not having enough cash to disburse.

Un trained staff, poor planning, Mis ( in efficient ) management.

Mr Kamath get up from bed start looking around ... other banks are of better service. banking means trust
create that trust all over again

My current account sattement for the month of Aug & Sep has not been received. Please submit the same to my user account.

ICICI Bank — Inadequate Service level

ICICI claims to the topmost bank in Indiaqn Private Sector, but does not even qualify to be among the local cooperative banks.

They are having a downtime now from the last Two and half days.

On 14th June 2010, when I had been to the bank to deposit money they never informed that I will not be able to utilize it due to their downtime. Nor was any information send to the customers. It was on late after noon of 15th June 2010, they put an alert on the website stating till18th there will be fluctuations. A week for the top bank to resolve a downtime. Ridiculous!!!!!


I was supposed to make a payment for my trading account (fortunately not ICICI), and had linked ICICI bank account for the same. I have the facility of making transfers from the site through ICICI gateway, but since ICICI was down my stocked where squared off for loss.

ICICI is responsible for the loss due to their inadequate service. Please suggest how I can file a complaint against ICICI bank so that they cover my losses.

sir,

i apply loan Rs.50000/- in ICICI PL. but they approved 41000/- only.. finally they give only 38000/-. they take 3000/- for processing charge. after that they i paid 9months due.(18000/-) now i want to pay all amount. but they have to say my balance is 38500/-... i dont know, why they have to put this much amount. if i ask that they will not give response.. just say 38500/- you balance.. am not have this much amount.. any possible to reduce this amount... plz.. give some suggestion for reduce this amount...

thanking you..
M.santhi
14/9 andal puram south street.
madurai-3

Dear Sir/Madam

I want to loan 200000/-, My mobile no-[protected]

Thank's

mr. avad and jain and there representative are worst. and give worst treatment to the consumet

DONT EVER go to ICICI. I am saying this NOT bcos I have anything against ICICI. Its only bcos i am one of their victim. There floating rate is true only in one direction. That is it floats higher side only. But will never float back when RBI or market rate changes! that means it nevers comes down! I am still paying 12.25% INTEREST RATE. I hope that answers your query

they are ghochu

Actually the problem is due to the employes.I also face a such problem . This is true true. And these employees are not required job. The solution is simple.First company will decide to replace these employees with other employees which are working in other city, just like pune, mumbai. and the employees of nashik division are through out to other location.then actually those employees are goes who require this job and who are not need of this job, they are gives resine.after this will done later on adjust all employees . this is the only solution. otherwice 'Talabki EK gandhi Machhali talab ko kharab kar deti hai'.

Dear Sir,

We have joint property at Jawalke, Tal. Dindori, Dist. Nasik having G. No. 222 & 244/4 having total area 2 Hector, 28 R.

I am a part holder of said property. I wanted to check the title of this property hence on 28th May, 2008 I have given a notice in local newspaper called Deshdoot.

On 31st May, 2008, Shriram Co. Op. Bank took a objection stating that bank has given a loan of Rs. 24, 00, 000/- on the said property. This is without my concern. This is really surprising to me as I am the main Khata holder and Elder brother of the co-holders. This is a totally fraud case to me. I have been cheated by the bank. I request the honourable authority to look in to the matter and see that I should get proper justification in this case and the accused should be punished.

With best regards,

Faithfully Yours,
Lalit Dhavale

I fully agree with complaints given by consumers. The ICICI agents/representative are the worst, bcoz the ICICI does not give them adquate training and recruite them like the garbage and put them on work to capture the conusumers. Any query asked to these agents/representative are not known forehand.

can i Know ur branches in Maharashtra

ICICI Bank, I can say the worst private bank in India, all the staff I dealt with are non professional with out any product knowledge of their own bank or firm, I am a NRI when I approached them for Loan against my property, none of them including Branch Manager was knowing about NRI loans, they refered their booklets and brochures, the incident happened at Sharanpur Road, Nashik, in short it was a harresment for me, the behavior of the staff was not good.
Later after coming to UAE within No time my loan got sanction through a phone call without any paperwork or so, they just asked me my salary certificate, the point is being a expatrate I got Loan of huge amount, being a Citizen of India, ICICI needs 132 papers for the approval.

I can understand the frustration of yours. You can complain to Consumer Rights Protection Council and this is the link. http://www.icrpc.org/ This works beautifully and you do not have to do much. Please give the whole details to them; you will get the desired result.

. I had made a transaction at an ICICI ATM at Sector-18 Noida on 17th of June 2008. I got a receipt stating that I had withdrawn 400 rupees where as the money did not came out of the ATM machine. The ATM machine kept on beeping for some time.

Please tell me how can I file an RTI (Right to Information) against ICICI bank. PLease call me at +91 [protected]

I will not let them simply go like this. Let us fight together.

i don't now that is this but i wann a job po

Hi Mr. Sujoy Adhikary,

ICICI Bank is a private bank and not a public authority under RTI Act.

So ICICI BANK is not within RTI Act. However, you can obtain information, which the RBI can seek from ICICI Bank under RBI Act.

You can file application with RBI under RTI Act.

Worst service of ICICI home loan dept Kandivali Mumbai
To,
The costomer care,
Icici home loan Dept,


From,
Applicant: 1) Vishal Jagani,
1606 Raheja Classic-1, New Lind Road, Andheri (W), Mumbai-53

Sub: Complaint about my loan proposal and the sanction authority officer/representative Mr. Pradeep Gothal ([protected]) and Chhaya Vora, in the Mumbai Branch


It has been observed that your officer have not submitted my all documents back yet, which I have provided him time to time for Home Loan. It’s been two months and above, still Home loan is not getting sanctioned by your officer. This is second time and might be last time, I am asking for my all documents back.
If your officer have couriered me all documents, then give me the courier name and the docket number.
You are further advised to submit a written explanation as soon as you receive this email.
Kindly treat this as very urgent otherwise it will be worst.

Yours truly,

Vishal Jagani