ICICI Bank 2014 Annual Report Download - page 40

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ANALYSIS OF CUSTOMER COMPLAINTS
a) Customer complaints in fiscal 2014
No.ofcomplaintspendingatthebeginningoftheyear 2,628
No.ofcomplaintsreceivedduringtheyear 92,380
No.ofcomplaintsredressedduringtheyear 93,190
No.ofcomplaintspendingattheendoftheyear 1,818
b) Awards passed by the Banking Ombudsman in fiscal 2014
Numberofunimplementedawardsatthebeginningoftheyear Nil
NumberofawardspassedbytheBankingOmbudsmanduringtheyear Nil
Numberofawardsimplementedduringtheyear Nil
Numberofunimplementedawardsattheendoftheyear Nil
Note:Theabovedoesnotincludecomplaintredressedwithin1workingday.
The above disclosure is as per the guideline issued by the RBI vide its Circular no. DBOD.
BP.BC.49/21.04.018/2013-14 dated September 3, 2013 on “Disclosure of customer complaints and
unreconciledbalancesonaccountofATMtransactions”.
COMPLIANCE CERTIFICATE OF THE AUDITORS
ICICIBankhasannexedtothisreport,acertificateobtainedfromthestatutoryauditors,S.R.Batliboi&Co.
LLP,CharteredAccountants,regardingcomplianceofconditionsofCorporateGovernanceasstipulated
inClause49oftheListingAgreement.
EMPLOYEE STOCK OPTION SCHEME
Infiscal2000,ICICIBankinstitutedanEmployeeStockOptionScheme(ESOS)toenabletheemployees
andDirectorsofICICIBankanditssubsidiariestoparticipateinfuturegrowthandfinancialsuccessof
theBank.TheESOSaimsatachievingthetwinobjectivesof(i)aligningemployeeinteresttothatofthe
shareholders;and(ii)retentionoftalent.Throughemployeestockoptiongrants,theBankseekstofoster
acultureoflong-termsustainablevaluecreation.AspertheESOS,asamendedfromtimetotime,the
maximum number of options granted to any employee/Director in a year is limited to 0.05% of ICICI
Bank’sissuedequitysharesatthetimeofthegrant,andtheaggregateofallsuchoptionsislimitedto
10%ofICICIBank’sissuedequitysharesonthedateofthegrant(equivalentto115.50millionsharesat
April25,2014).
TheBankhasuptoApril25,2014granted66.39millionstockoptionsfromtimetotimeaggregatingto
5.75%oftheissuedequitycapitaloftheBankatApril25,2014.
OptionsgrantedtillMarch31,2004vestedinagradedmanneroverathree-yearperiod,with20%,30%
and50%ofthegrantsvestingineachyear,commencingnotearlierthan12monthsfromthedateofthe
grant.OptionsgrantedafterApril1,2004throughMarch31,2014vestinagradedmanneroverafour-
yearperiod,with20%,20%,30%and30%ofthegrantsvestingineachyearcommencingfromtheend
of12monthsfromthedateofgrant,otherthanthefollowing:
• OptionsgrantedinApril2009vestinagradedmanneroverafiveyearperiodwith20%,20%,30%
and30%ofthegrantvestingineachyear,commencingfromtheendof24monthsfromthedateof
thegrant.
• Outoftheoptions,thegrantofwhichwasapprovedbytheBoardatitsMeetingheldonOctober29,
2010(forwhichRBIapprovalforgranttowholetimeDirectorswasreceivedinJanuary2011),50%of
theoptionsgrantedvestedonApril30,2014andthebalance50%willvestonApril30,2015.
• OptionsgrantedinSeptember2011vestinagradedmanneroverafiveyearperiodwith15%,20%,
20%and45%ofthegrantvestingineachyear,commencingfromendof24monthsfromthedate
ofgrant.

Directors’Report