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Kuala Lumpur. In 2007, ICICI amalgamated Sangli Bank, which was headquartered in Sangli, in Maharashtra State, and which had 158 branches in Maharashtra and another 31 in Karnataka State. 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 Qatar to open a branch in Doha. Also, ICICI Bank Eurasia opened a second branch, this time in St. Petersburg. In 2008, The US Federal Reserve permitted ICICI to convert its representative office in New York into a branch. ICICI also established a branch in Frankfurt. In 2009, ICICI made huge changes in its organisation like elimination of loss making department and restreching 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, compesation to staff was not increased and no bonus declared for 2008-09. On 23 May ICICI Bank announced merger with Bank of Rajasthan with it through share-swap in a non-cash deal that values the Bank of Rajasthan at about Rs 3,000 crore. Each 118 shares of Bank of Rajasthan will be converted into 25 shares of ICICI. It is said that this merger will also expand ICICI Bank's branch network by 25%.
Category : Health
Business Briefs
ICICI Bank has raised $500 million through an issue of bonds in the international market. The bank has...
Category : Business
ICICI Bank is planning to rise between $500 million and $700 million in the international market through a...
Category : Business | City : Mumbai
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Savings account ATM cum debit card, mobile, internet banking, facility, nomination for the user, cash deposits and withdrawal from home. Senior citizens account Special care taken of those above 60 years, availability of loan against deposit, usage of outstation cheques, nomination facility available, money multiplier facility, special debit card and many more. Kids account For age group 1-18 years, initial deposit required Rs 2,500, fund transfer facility, withdrawal up to Rs 2,500 per day, debit card on request. Fixed deposit account Wide tenure ranges, partial withdrawn of money allowed, nomination facility, loan available, auto renewal possible. Recurring deposit account Minimum deposit of Rs, 500 per month, tenure period 6 months maximum and recurring deposit 3 months after, etc. Easy receive account Usable for domestic banking needs, additional benefits for remittances which comes at the account.
NOTICE
For opening an ICICI bank account the customer will have to: Fill an application form. Submit his/her personal details like photocopies of passport or pan card or voter ID card. Submit his/her residence proof like telephone bill, or any of the above mentioned documents. Choose the type of account he/she wants. Deposit the initial amount, collect the ATM cards, cheque book and pass book. Details of existing bank account if any.
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Assam Andhra Pradesh Bihar Chandigarh Chhattisgarh Delhi Goa Gujarat Haryana Himachal Pradesh Jammu Kashmir Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Manipur Meghalaya Orissa Pondicherry Punjab Rajasthan Tamilnadu Uttar Pradesh Uttaranchal West Bengal
3. ICICI Bank Fixed Deposit scheme This investment plans come with an extensive
range of term periods, provision of partial extraction and an assortment of fixed deposit investment plans. Other details of the policy are mentioned as under: o Maximum and Minimum Investment limit: NIL o Fixed loans through Fixed Rate Deposit accounts o E-banking for Fixed Deposits accounts o Fixed term deposits offer tax haven and protect investor from features influencing fixed deposits for a longer tenure of calculated tenure.
o Greater yields compared to pure fixed deposits. o Exit load of 1% on the endowments if the amount less than rs 1 crore is transferred with 1 year of the date of commencement of the plan