ICICI Bank Ltd, India’s largest private sector bank, and the Indian Army today signed a Memorandum of Understanding (MoU) on extending the modern banking products and services to the army personnel. The MoU was signed by Mr. Rajiv Sabharwal, Executive Director, ICICI Bank and Lt Gen V.K. Chaturvedi, PVSM, AVSM, SM, Director General (MP & PS), Indian Army. ICICI Bank is the first private sector bank to enter into such an agreement with the Indian Army.
Over the years, ICICI Bank has been associated with the Indian Defence forces for various banking requirements, which have been tailor made to meet the needs of the Army personnel.
With this MoU, the Army personnel will now be able to access the wide range of products and services offered by the Bank through an extensive network of 5800 ATM’s and 2510 branches of which a large number are positioned within the cantonment areas. The Bank services its large customer base through a multi-channel delivery network of branches, ATM's, call centers and Internet banking channel (www.icicibank.com) to ensure that customers have access to its services at all times.
ICICI Bank products include a comprehensive range of deposits, mutual fund, investment products, demat services and loans like Home Loan, Auto Loan and Personal Loans to cater to different needs. The Defence Product Offering is designed to provide comfort and convenience in daily transactions, easy access through a wide range of channels and attractive propositions on loans and investments including investment advisory services especially for the Defence personnel.
Speaking at the occasion Mr. Rajiv Sabharwal, Executive Director, ICICI Bank said, “ICICI Bank is grateful to the contribution made by Indian Army in the service of the nation. It is an honour to be associated with the Army to offer banking products and services. ICICI Bank offers special benefits and rates to the Army personnel with special consideration for Gallantry Award winners, disabled soldiers and war widows.”
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 $115 billion at December 31, 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 18 countries.
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