Foreign remittances have become an important component of balance of payments for developing economies. Gordon and Gupta (2004) observed that growth in NRI deposits gained momentum in the 1980s in conjunction with the increasing number of Indians going abroad, particularly to Gulf countries. So, in order to attract their savings back to India, the government formulated NRI deposit schemes that made the deposits fully repatriable and also offered attractive interest rates.

The post-liberalization period in India has witnessed appreciably high growth of foreign remittance. As per the IMF Fact Book (2011), India continued to be the largest recipient of remittances in 2010 with remittances of $55 bn, showing a growth of 11.1% over 2009, while China was behind India at $51 bn.

In order to effect proper and successful remittances, banking system plays a critical role. There are various aspects which may affect the satisfaction of the customers of a bank availing such facilities.

Against this backdrop, the paper focuses on the extent of realized satisfaction amongst the customers using foreign remittance services provided by ICICI Bank and attempts to know:

• The overall satisfaction of foreign remittance services provided by ICICI Bank with respect to age, gender and income levels.
  
• The level of satisfaction between two modes of transferring money, viz., wire transfer and INR demand draft.
  
• The practical problems faced by the NRI customers of ICICI Bank or their dependents.

Bank Management Journal, Indian Banks, Asset Liability Management, Data Filtering, Least Absolute Deviation, Decision-Making Group, Commercial Banks, Ordinary Least Square, Banking Industry, Kenyan Banks, Least Squares Regression, Mutual Fund Industry, Linear Programming, Financial Markets, Capital Required Adequacy Ratio, Public Sector Banks.