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ICICI Bank opens a branch at Domestic Tariff Area in GIFT City

November 01, 2023




ICICI Bank inaugurates a new branch at Domestic Tariff Area in GIFT City

  • First private sector bank to set up a branch in the Domestic Tariff Area

  • Branch equipped with an ATM-cum-CRM

Gandhinagar: ICICI Bank has set up a branch in the Domestic Tariff Area (DTA) in GIFT City, becoming the first private sector bank to commence operations in DTA. Housed at World Trade Centre (WTC) - GIFT City, the branch is also equipped with an ATM-cum-Cash Recycler Machine (CRM) to offer cash deposit and withdrawal services to customers. The Bank aims to serve the financial requirements of retail customers as well as institutions like schools, hospitals, companies and their employees living and operating in the DTA area of GIFT City.

Mr. Tapan Ray, Managing Director and Group CEO, GIFT City inaugurated the branch in the presence of Mr. Rakesh Jha, Executive Director, ICICI Bank.

Mr. Tapan Ray, Managing Director and Group CEO, GIFT City, said, “We welcome ICICI Bank for being the first private sector bank to open its retail branch in the Domestic Tariff Area (DTA) of GIFT City. I am sure the Bank will serve the needs of corporates and people working/ residing within GIFT City, living up to the high standards of service delivery, making the ecosystem at GIFT City even more vibrant.”

Speaking at the inauguration, Mr. Rakesh Jha, Executive Director, ICICI Bank said, “We are delighted to announce the launch of our new branch in Domestic Tariff Area (DTA) of GIFT City. GIFT City plays an important role as it has become a gateway for Indian businesses to connect with the world and global businesses to participate in India’s fast-growing economy.

We have been offering banking solutions for corporate banking, capital markets, treasury, NRI banking, and the start-up ecosystem through our branch in IFSC GIFT City since 2016. The new branch in DTA complements the IFSC branch by serving the banking needs of the entire ecosystem of the GIFT City. It includes personal banking requirement of people working in GIFT City as well as transaction banking needs of various businesses in the ecosystem.”

The branch offers Special Non-Resident Rupee Account (SNRR) services for business entities registered in IFSC SEZ area. This account provides IFSC entities with seamless INR banking solutions like staff salary, office and administrative expenses of office set-up and, any statutory dues in India. Further, ICICI Bank provides such entities with corporate internet banking platform and InstaBIZ app for transactions and account related inquiries on the move.

The branch also provides a comprehensive range of accounts, including savings and current accounts, trade and forex services, fixed and recurring deposits, loans- business loan, home loan, personal loan and auto loan, along with remittance and card services. The branch further offers Tab Banking facility that provides nearly 100 services at the customer’s place by an employee through a tablet device, including digital opening of an account. Additionally, the branch provides banking services to NRI customers. It operates from 9:30 A.M to 3:00 P.M on Monday to Friday and on the first, third, and fifth Saturdays of the month.

ICICI Bank has a network of about 470 branches and 1,185 ATMs and cash recycling machines (CRMs) in Gujarat.

ICICI Bank services its large customer base through a multi-channel delivery network of branches, ATMs, call centres, internet banking (, and mobile banking.

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About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s total assets stood at ₹ 17,20,780 crore at September 30, 2023.

Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non - performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at

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