ICICI Bank Ltd., India's largest private sector bank, welcomes all existing customers of Bank of Rajasthan (BoR).
August 14, 2010
ICICI Bank Ltd, India's largest private sector bank, welcomes all existing customers of Bank of Rajasthan (BoR).The Reserve Bank of India approved the merger of Bank of Rajasthan with ICICI Bank Ltd, India's largest private sector Bank. All branches of Bank of Rajasthan will function as branches of ICICI Bank. The boards of both the banks on May 23, 2010 approved the merger for a share exchange ratio of 25 shares of ICICI Bank for 118 shares of Bank of Rajasthan.
All customers will be extended seamless services as per existing Bank of Rajasthan procedures. All existing BoR products will continue with current features and charges. Customers can continue to transact using their current BoR cheque books, ATM cards, lockers etc. The minimum balance requirements and service charges on all type of accounts will remain unchanged.
Post the system integration customers can benefit from ICICI Bank's enhanced branch network of over 2500 branches and over 5600 ATMs spread across 1400 locations in the country. The Bank has a presence in 18 international locations. ICICI Bank's extensive product suite caters to all banking requirements, both corporate and retail, backed by a world class technology platform