ICICI Bank, India’s largest private sector bank by consolidated assets, today committed a financial assistance of Rs. 10 crore to the Indian Armed Forces. The contribution, payable in two equal tranches this year and next year, will be utilised towards welfare activities and betterment of the families of ex—servicemen who have lost their lives guarding the nation. Ms. Chanda Kochhar, MD & CEO, ICICI Bank today handed over a cheque worth Rs. 5 crore to the Honourable Minister of Defence Smt. Nirmala Sitharaman at a function in the Raksha Mantralaya.
Speaking on the occasion, Ms. Chanda Kochhar, MD & CEO, ICICI Bank, said, “Our Indian Armed Forces bravely guard our borders and protect us. Many of these men have valiantly fought and made the ultimate sacrifice of laying down their lives for our country. While no amount of assistance is enough to fill the loss for the families, this gesture is our humble endeavor to contribute towards their betterment.
Through the various skilling initiatives which have been undertaken by ICICI Bank in the past, we have seen that the maximum impact on an individual’s life can be made by equipping him or her with skills and knowledge which enables him or her to participate in the economic opportunities in the country. Our assistance will aid the young children and widows of the soldiers to get an education thereby enabling them to gain knowledge, get a job and earn a sustainable livelihood. This is our small contribution to these daughters of the nation and our thoughts and best wishes will always remain with the families.”
This fund will be used for two programmes to support the daughters of the armed forces. The first will be towards the post-graduation education of the widows of ex-servicemen and also to support education for their wards. The second scheme will be to provide financial assistance towards marriages of the daughters of the ex-servicemen. This donation is aligned to ICICI Bank’s commitment towards nation building through various initiatives that promote inclusive and sustainable growth.
The Kendriya Sainik Board, an apex body of the Government of India, which formulates policies for resettlement and welfare of ex-servicemen and their dependents, will undertake the administration of the programme. This body will be responsible for the allocation of funds, identification of the recipients and overall functioning of the programme.
ICICI Bank has a legacy of partnering India in its economic growth and development. Promoting inclusive growth has been a priority area for the bank from both social and business perspectives. ICICI Bank has been focused on promoting education and employment enhancing vocation skills especially among women thereby empowering them to lead better economically independent lives.
About ICICI Bank Ltd.
ICICI Bank Ltd. (NYSE:IBN) is India’s largest private sector bank by consolidated assets. The Bank’s consolidated total assets stood at US$ 153.0 billion at June 30, 2017. ICICI Bank's subsidiaries include India's largest private sector insurance, asset management and securities brokerage company, and among the country’s leading fixed income players. It is present across 17 countries, including India.
For media queries, write to: [email protected]
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.
HSIL Limited Brings its Digitally Integrated Lacasa Store to New Delhi Acetech 2017 HSIL Limited Brings its Digitally Integrated Lacasa Store to New Delhi Acetech 2017 HSIL Limited, India’s leading sanitaryware & bath-fittings’ company, showcased their state-of-the-art revolutionary Lacasa Concept Store at Acetech, Asia’s largest trade fair for the architecture and interior design industry. The company, recognized by its brand ‘Hindware’, a household name in India, prides itself on the constant innovation and reinvention
- Snapdeal Announces its Curated Christmas Store
- Total Unveils Hi Perf with an Unique Mix of New Age and Traditional Marketing Tools
- KOR Energy Bags Orders from 4 (four) U.P Based Companies for 2.8MWp Rooftop Solar Power Plants
- Ajax Fiori Announces Expansion of Bangalore Operations with an Investment Outlay of INR 1000 Million
- Thanes most Coveted Residential Project Hosts One of the Biggest Hollywood Celebrity Trainers
- Paisabazaar.com Sources the Biggest Ever Single Unsecured Loan of Rs. 75 Lakh for Kotak Mahindra Bank
- Tickets for "OnePlus 5T Star Wars Limited Edition" Launch Event Sold Out in 60 Seconds
- ixigo Honours Indian Heroes With a Fund Raise Campaign on Armed Forces Flag Day
- MP Birla Cement and Mohun Bagan Athletic Club Come Together
- Nuvoco Wins the FICCI CSR Jury Award for Women Empowerment
- CASHe Launches Fintech Industry's First Distributed Ledger Based Smart Contract Tokens at Global Entrepreneurship Summit
- Subway Launches Winter Feast with Classy Combos
- Industry Risk Review by Alea Consulting on Defence Sector in India
- 24MRC Network Felicitated the Winners of 2017 Leaders Awards
- Finally, the Black Friday Sale Truly Arrives in India