Plan to strengthen association with Rajasthan ICICI Bank launches series of initiatives

October 06, 2010




Jaipur: ICICI Bank, India’s largest private sector bank, today announced series of initiatives to strengthen its association with Rajasthan post its integration with Bank of Rajasthan.
 
Ms. Chanda Kochhar, Managing Director and CEO, ICICI Bank Ltd. said, “These initiatives show our commitment to customers, employees, the state and other stake holders in Rajasthan and also show our intent to further strengthen our relationship with this state.”
 
The new initiatives launched are as follows:
 
Data recovery center, Jaipur: ICICI Bank announced setting up of Data Recovery Center at Jaipur. The bank has already acquired 11 acres of land and will commence the work on the project. The center will be made operational before September 2011.
 
Financial literacy and credit counseling center: The Bank announced setting up of financial literacy and credit counseling center in Jaipur. The center will be made operational in the Jaipur Stock Exchange Ltd. building by November 2010.
 
Financial inclusion: ICICI Bank has been allotted a total of 208 villages in Rajasthan for financial inclusion. The bank has commenced enrolment through business correspondent model at village Budhna in Jhunjhuna district.
 
Rural self employment training institute: ICICI Bank is committed to create employment opportunities and entrepreneurial capability among rural youths under Rajasthan Swarozgar Uthan Yojana. The existing Rural Development and Self Employment Training Institutes at Udaipur and Jodhpur will be strengthened for their capacity and training capability.
 
Quality education programme, Baran:
ICICI Bank has undertaken Collaborative initiatives along with Collector Baran, District Institute for Education and Training, Sarva Shiksha Abhiyan, Digantar, Vidya Bhawan Society to improve quality of elementary education in Baran by training teachers and providing support to schools. Over 4,200 teachers have attended the inservice training programme. The programme has also supported over 78 schools.
 
Adoption of hospital wards: ICICI Bank announced that it will adopt patient wards at the prominent government hospital Jodhpur on the lines of patient wards adopted at SMS Hospital and J K Lone hospital for improving cleanliness standards.
 
About ICICI Bank: ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of over $100 billion as on June 30, 2010. 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 global presence currently spans across 18 countries.

 

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.

 

For Press Queries:
Mr. Charudatta Deshpande
Head, Corporate Communications
ICICI Bank Limited
Bandra Kurla Complex, Mumbai – 400051
India
E-mail: charudatta.deshpande@icicibank.com



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