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ICICI Bank signs MoU with the Government of Haryana

March 07, 2016

  • To expand branch network by setting up nearly 100 new branches
  • To set up a centre of ICICI Academy for Skills to provide free vocational training to underprivileged youth

Haryana: ICICI Bank has signed a Memorandum of Understanding (MoU) with the Government of Haryana at the ‘Happening Haryana Global Investors Summit 2016’.


As per the MoU, the bank will expand its branch network by setting up approximately 100 new branches across Haryana. The bank will also launch a ‘Branch on wheels’, a mobile branch with an ATM, to provide banking services to unbanked villages in the state. Further, the bank will setup a state-of-the-art branch at Haryana Civil Secretariat, Chandigarh.


Further, ICICI Academy for Skills, an arm of ICICI Foundation for Inclusive Growth, will set up and operate a centre in the state to impart vocational training to underprivileged youth free of cost to help them earn a sustainable livelihood. The centre is expected to train nearly 900 youth annually.


Under this agreement, ICICI Bank and its group companies will invest in Haryana over the next three years by way of various credit instruments.


Mr. Rajiv Sabharwal, Executive Director, ICICI Bank, said: “ICICI Bank is committed to partner with the government of Haryana in its endeavour to drive new growth opportunities, leading to economic progress. We are planning to significantly scale up our operations to support the next phase of growth in the state. This will include setting up of new branches, partnering with the government to offer technology-enabled banking solutions and setting up a skill centre to provide free vocational training to underprivileged youth.”


ICICI Bank currently has an extensive network in the state with 166 branches and 512 ATMs, on December 31, 2015. The bank services its large customer base in the country through a multichannel delivery network of 4,156 branches, 13,372 ATMs, call center, internet banking (, mobile banking, banking on Facebook & Twitter and ‘Pockets by ICICI Bank’, the country’s first digital bank.


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About ICICI Bank Ltd: ICICI Bank Ltd (NYSE:IBN) is a leading bank in India with consolidated total assets of US $ 132.17 billion at March 31, 2015. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 17 countries, including India.


Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. All reference to interest rates, penalties and other terms and conditions for any products and services described herein are correct as of the date of the release of this document and are subject to change without notice. The information in this document reflects prevailing conditions and our views as of this date, all of which is expressed without any responsibility on our part and is subject to change. In preparing this document, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank. Any reference to the time of delivery or other service levels is only indicative and should not be construed to refer to any commitment by us. The information contained in this document is directed to and for the use of the addressee only and is for the purpose of general circulation only.


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