For priority sector home loans below Rs 20-lakhs (Rs 2 million), the new interest rate will 9.75 per cent as against the earlier 10 per cent, an ICICI Bank spokesperson said.
ICICI Lombard has launched a hybrid weather-cum-satellite imagery-based insurance product in India to insure wheat crops.
ICICI OneSource, one of India's leading business process outsourcing services providers and a member company of ICICI Bank
However, total income of the bank on a consolidated basis rose to 31,914.82 crore as against Rs 30,190.54 crore a year ago.
On resolution of stressed cases, she said ICICI Bank has been taking the lead in several cases and was the first bank to refer a case to NCLT
ICICI Prudential Life Insurance on Monday said it will hike capital by Rs 50 crore to Rs 575 crore by the end of this fiscal, after posting over 170 per cent jump in business till September.
Biometric cards contain the details of policyholders such as name, age, address and finger prints. Besides helping the customers to pay their renewal premiums, the card will facilitate claim processing. It authorises transactions based on the customer's fingerprints.
It appears the two banks are now convinced that increasing their credit card portfolios will not lead to significant erosion in asset quality.
ICICI Bank Ltd has set up a wholly owned banking subsidiary in Canada that would offer a range of products targeted at retail and commercial clients.
ICICI Bank Ltd, India's biggest private sector lender, posted its slowest quarterly growth in four years as asset quality worsened and funds set aside for bad loans and contingencies almost doubled from a year earlier.
Videsh Sanchar Nigam Ltd has inked a pact with ICICI Bank Ltd, whereby the private sector bank will distribute the former's Tata Indicom dial-up Internet services through its ATMs in the country.
ICICI Lombard outsmarted other private general insurers in the first two months of this fiscal by mopping up Rs 10,137 crore (Rs 101.37 billion) in premium income and cornering 3.27 per cent of the market share in April-May, 2003.
ICICI venture firm, RFCL Ltd acquired Alved Pharma and Foods. RFCL aims at banking on Alved's southern market in animal healthcare business.
ICICI Bank on Saturday launched the Visa 'mini card', India's first miniature-sized payment card.
This is the first time ICICI Bank has gone for a share split.
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
The securities -- Pass Through Certificates, backed by the new and used car receivables, originated from ICICI Bank and have been issued by Indian Retail ABS Trust under the bank's securitisation programme. Credit rating agency Crisil has assigned the high investment grade rating to these securities. The bank would assign the pool to the trust and will receive a purchase consideration equal to the pool's principal outstanding.
ICICI Bank on Monday jacked up auto loans by up to 0.75 per cent even before the RBI decided to increase statutory deposits last week as a part of inflation controlling measure.
ICICI Bank on Tuesday introduced cash withdrawal facility at point of sale (PoS) terminals at merchant outlets.
The bank got the share in lieu of repayment of loan.
Tata Steel, Tech Mahindra, NTPC, JSW Steel, Power Grid, UltraTech Cement, HCL Technologies and HDFC Bank were among the major gainers. Bharti Airtel, Hindustan Unilever, Axis Bank, Reliance Industries, Kotak Mahindra Bank, ICICI Bank and IndusInd Bank were among the laggards.
Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).
ICICI Prudential Life Insurance Company has launched a completely online term insurance plan named 'iProtect' on Tuesday.
Only investors with a higher risk appetite should enter these funds.
Credit rating agency ICRA is unlikely to revise its rating for ICICI Bank, but said it has 'taken note of the recent pressure' on the bank following panic withdrawal by depositors in some parts of Gujarat and Mumbai.
Located in the banking hub of Singapore's central business district, the branch office is the start of ICICI's retail operations in the country under a 25-branch qualified Full Banking licence given by the Monetary Authority of Singapore in April, Kochhar said.
Even as Finance Minister P Chidambaram has asserted that the real estate sector is overheating, the ICICI Bank today claimed that there is genuine demand for houses and people have only deferred their decision to buy property.
Small and midcap schemes may impose restrictions on redemptions, cap employee withdrawals, and increase the exit load, while ensuring a proportionate liquidation of the portfolio during market crises to safeguard the interests of all investors. These measures have been outlined in the investor protection policies recently put out by mutual fund (MF) trustees. The policies for small and midcap schemes were prepared by MF trustees following directives from the Securities and Exchange Board of India (Sebi) earlier this month.
ICICI Bank has extended its festive offer of low interest rates on retail loans in order to meet its target of 20 per cent retail credit growth in 2007-08, down from around 40 per cent growth recorded in the past two years.
Three years after launching its operations in Bahrain, ICICI bank has been granted a full commercial branch license and plans to expand
Since MAAFs invest across multiple asset classes, they offer diversification.
ICICI Lombard has bagged a contract from the railways to provide personal accident cover at a premium of just 4.75 paise per passenger. The personal accident cover is for a year starting from September 20, 2007.
The vigilance department of the Insurance Regulatory and Development Authority is looking into such complaints in Rajiv Gandhi Shilpi Swasthya Bima Yojana, Weather Insurance Scheme, Shetkari Apghati Durghatana Bima Yojana and Panjikrut Kishan Durghatana Bima Yojana, according to a letter written by IRDA to Finance Ministry on its ongoing probe.
As part of its efforts to rationalise costs and divest non-core assets, ICICI Bank has sold a property at Prabhadevi in central Mumbai.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
All 463 branches of BoR has started functioning as ICICI Bank's as per the directive of the Reserve Bank of India.
