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Our Bureau Mumbai, Nov. 20 Investigations carried out by the capital markets regulator show no evidence of manipulation in the share prices of ICICI Bank, said a news release from SEBI. The bank had in September sought an investigation by SEBI into its share price movement, alleging that rumours were being spread about the bank t
When Nachiket Mor was an undergrad studying physics in Mumbai, he spent his vacations working with nonprofits. The obligation to help others, he recalls, grew from his years at Brockwood Park, a boarding school founded by philosopher Jiddu Krishnamurti outside London to teach, among other things, the value of community. Today, after a career in finance, the 44-year-old banker has made philanthropy
Hot Stocks for 24th November 08 (Click here for more ...)ICICIBANK, NTPC, TATASTEEL, ONGC, BHEL, SIEMENS, ICRA,HINDPETRO, ADLABSFILM, SUNPHARMA, SRTRANSFIN, GESHIP,IOC, GRASIM, TITAN, INDOTECH, APIL, PGHH, CMC, NIPPOBATRY.Read more... Did You Enjoy this Post?Subscribe Today.
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Our Bureau Mumbai, Nov. 20 Investigations carried out by the capital markets regulator show no evidence of manipulation in the share prices of ICICI Bank, said a news release from SEBI. The bank had in September sought an investigation by SEBI into its share price movement, alleging that rumours were being spread about the bank to deliberately br
ICICI Prudential S.M.A.R.T. Fund - Series H - 36 Months, is a close-ended debt fund. The investment objective of the Scheme is to seek to invest in short term and medium term debt instruments with...
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State Bank of India (SBI) & Punjab National Bank (PNB) The banking space looks good in a scenario where interest rates across the globe are heading south. The same is the situation in India which remains least impacted from the credit crisis. Market leaders such as SBI and PNB will witness 22-24% growth in their core business. Also, these banks have a robust CASA of 40% that will enable them t
Economic Times - World moving toward zero interest rate? India unlikely to join the club.The latest interest rate cut in the US has sparked speculations that a number of major economies across the world, including the US, Japan, England and Australia, are moving towards a zero-per cent regime, but bankers differ about India.The rates have not been below the current level of one per cent in the US
Hot Stocks for 31st October 08 (Click here for more ...)ICICIBANK, RELIANCE, WIPRO, STER, GLENMARK, HINDPETRO,BANKBARODA, STERLINBIO, M&M, JINDALSTEL, BOMDYEING, BPCL,IOC, ACC, TITAN, GSSAMERICA, PANACEABIO, HINDZINC, EKC.Read more... Did You Enjoy this Post?Subscribe Today.
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Economic Times - Re hits fresh low, may open at 50The free fall in stock indices is being mirrored in the forex market, with the rupee plummeting to a fresh all-time low of 49.88 against the dollar on Thursday. Heavy central bank intervention prevented the rupee from breaching the 50-mark per dollar.However, market participants are not even ruling out the possibility of it opening at the 50-levels
FutureBazaar.com has come up with an another Diwali offer by giving 10% cash back on purchase through ICICI Bank Debit / Credit cards.
Following Limitations are there :-
Maximum cash back is of Rs...
Original Blog :
On the eve of Diwali, ICICI Bank is giving discounts on its Gold Coins which are as follows :-
On 2.5 gm Gold Coin – Rs. 150 DiscountOn 5 gm Gold Coin – Rs. 250 DiscountOn 8 gm Gold Coin – ...
Original Blog :
Hot Stocks for 17th October 08 (Click here for more ...)ICICIBANK, RCOM, HINDUNILVR, SATYAMCOMP, RELINFRA,BANKINDIA, SBIN, UNIONBANK, HINDPETRO, ABAN, BPCL,BOMDYEING, CANBK, HEROHONDA, GLENMARK, CENTURYTEX.Read more... Did You Enjoy this Post?Subscribe Today.
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Recent unsolicited news and rumors made India's second largest bank's, ICICI, status to red and customers panic. Branches of the bank crowded by its customers to withdraw there money immediately. This rumor related to ICICI banks shares with Layman. Presently bank is trying build trust with its customers. Below is a mail received to my mailbox is the best example for that:Here is a mail I have re
JP Morgan on Infosys - TARGET PRICE: RS 1,825JP Morgan Research has assigned an ‘overweight’ rating to the stock saying Infosys has reported good 2QFY09 results ahead of consensus. “We have a positive view on the sector, given our belief in secular offshoring trend but do accept that weak guidance would put pressure on Infosys and the sector near-term,” said the research firm in a note to
Mumbai - Many ICICI Bank customers received SMS messages on their mobile phones on Saturday, assuring them that their deposits with the bank are safe.The message read that the bank is well capitalised with good liquidity. “Please do not listen to baseless rumours,” said the message, before ending with greetings for the festive season.This was part of a campaign by the bank to allay fears of th
Rajen Shah, CIO, Angel Broking is of the view that one can avoid ICICI Bank.Shah told CNBC-TV18, "We have been ignoring banks for a very long time and in fact even at this juncture the only financial institution, which we like, is IDFC. Except for that we have been ignoring ICICI Bank and leading private sector banks for a while."Source: Moneycontrol
Chanda Kochhar, Joint MD and CFO, ICICI Bank, said the bank has adequate rupee and global liquidity of Rs 12,000 crore. "We have no international investments, only loans on our balance sheet. We do not use rupee liquidity to fund global activities."Kochhar said the bank has not seen a scale-down in deposit growths. "The focus this year is on current and savings accounts."According to her, the bank
MUMBAI, Oct 10 - ICICI Bank, India's second-largest bank, has very small exposure to the global financial crisis and there should be no concerns about liquidity, its joint managing director...
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Business Standard - Sensex tanks 529pts; RIL, ICICI, Tata Steel slumpReliance,Tata Steel were prominent among many other stocks which hit new lows today to drag down the index by more than 500 points.Relentless selling in metal and oil & gas stocks saw the index slide as the day progressed. Banking, capital goods and technology stocks were also very weak today. The index tumbled to a low of 12
ICICI bank acted as the main stock in the index leading other bank stock to gain and finally having the sensex go to this place.Yesterday ICICI Bank clarified that 98% of ICICI Bank UK PLC’s non-India investment book is rated investment grade and above and today Reserver Bank of India said that ICICI Bank, They [...]
Record date for dividend is 29 September 2008ICICI Prudential Mutual Fund has declared dividend under the dividend option of four Funds namely,1. ICICI Prudential Interval Fund II-Quarterly Interval Plan F,2. ICICI Prudential Fixed Maturity Plan-Series 38 - One Year Plan D3. ICICI Prudential Fixed Maturity Plan Series 42 - Thirteen Months Plan B4. ICICI Prudential Fixed Maturity Plan -Series 42 -
Nifty Spot :4103 Inference from the Swing Charts of - 4 day(15 min) Intraday Nifty charts Which shows that the primary trend of the nifty is getting weaker day by day. And the falling RSI and the stocastics signals further downtrend is possible if nifty is not able to move above the recent swing high 4130 and any dip below 4177 will take nifty towards 4000 hardly and mov
Source : moneycontrol.comAccording to ICICI direct.com, Zee News has target price of Rs 50.7 over a six-month time frame.ICICI direct.com report on Zee News:ZNL is in dominant positions in a majority of its regional GECs. The company fares better than its key comparable channels in the broadcasting space, IBN7 and NDTV India. At the current market price of Rs 42.2, the stock trading at 17.58x FY09
Hot Stocks for 1st September 08 (Click here for more ...)ICICIBANK, INDIABULLS, AXISBANK, SELMCL, MARUTI,ATLANTA, CANBK, PNB, GAMMONIND, BGRENERGY, ORBITCORP,NECLIFE, KIRIDYES, EVERONN, JINDALSAW, PRATIBHA, TANLA.Read more... Did You Enjoy this Post?Subscribe Today.
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Even without doing any transaction through my credit card last month, today I got my credit card statement with some interest charges. ICICI credits cards have become big source of income for this bank. They charge hidden service taxes, huge interest rate, change their policies and plans without informing the customers. I will never forget [...]
On 31st July, a lot of home loan companies, led by sector leader HDFC, raised interest rates on home loans. HDFC and private banking major ICICI Bank raised their housing finance rates by 75 basis...
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The country’s largest private bank ICICI Bank and the largest home mortgage company HDFC today announced a 75 basis point increase in lending rates, which will raise borrowing costs sharply for home, personal and corporate loans.Two days after the Reserve Bank of India announced a 50-basis point increase in the repo rate, or the rate at which it lends to banks, and a 25 basis point increase in t
The 30-share index fell further deep into the negative terrain, touching a low of 14,259.02 as huge sell off is seen across board. Sustained selling pressure is being witnessed in banking, realty, oil and auto stocks. BSE Midcap and Smallcap index declined 0.65% and 0.59 % respectively.Sensex is trading down 516.67 points, or 3.50%, at 14,260.34; while the broad-based NSE Nifty fell 115.3 points
14 July 2008Molecular Connections bags the most coveted ‘The Small Enterprise of the Year’ award at the “Emerging India” Awards organized by ICICI-CNBC. Molecular Connections Private Ltd. (MC) – a pioneering life-sciences informatics company from India was adjudged the most promising company of the year by CNBC-ICICI for the Emerging India Awards out of more than 3,00,000 entries.The awa
Rajiv and Mona are flying to Australia for a two-week vacation to celebrate their 40th anniversary.
Suddenly, over the public address system, the Captain announces, ‘Ladies and Gentlemen, I am afraid I have some very bad news. Our engines have ceased functioning and we will attempt an emergency landing. Luckily, I see an uncharted island below [...]
Dear Friends,Leading Banking company in providing Credit card Facility In India ICICI Bank has started a Innovative scheme to increase its revenue ,They have started charging RS 100 for credit card bill payment in cash in Bank Branch.Yes ,you have correctly read it ,if you are a credit card customer of ICICI Bank and paying Credit Card bill payment in bank branch in Cash then your credit card w
Leading home loan lender ICICI Bank on Thursday said that growth in the real estate sector has been impacted due to high interest rates and prices but maintained that there was no asset bubble in the sector.
“Clearly there is a slowdown in the number of deals …interest rates have gone up from eight per cent [...]
ICICI Bank will float subsidiaries for undertaking wealth management activities in Canada and other markets as it rolled out ICICI Group Global Private Clients for those with net worth of $1 million or more.The group, which was launched in Dubai last month, already has around 2,500 clients and has plans to add another 1,000 high net worth clients in a year. The plan is to add 100 relationship mana
JAIPUR: ICICI Prudential Life Insurance firm has garnered retail new business premium of Rs 6,684 crore till March 31, registering a growth of 68 per cent over the last year, a top official said. The company had raised retail new business premium of Rs 6,684 crore for the fiscal ended March 31, company's Sr Vice President Poonam Bhardwaj told a reporters here today, adding that ICICI Prudential ha
ICICI Securities, the investment banking arm of ICICI Bank, will come out with initial public offer in due course, said CEO of the country’s largest private sector bank K V Kamath. According to him, the bank has not decided on the size of the IPO and when the market conditions are favourable, the bank will consider the IPO.In January, the board of ICICI Securities had approved the initial public offer and private placement of shares to one or more institutional investors. Soon after the decision, ICICI Bank joint managing director and CFO Chanda Kochhar had said that the shares of ICICI Securities will be listed on the bourses in about six months.The board had decided to offload 15% of its shares to retail or institutional investors. ICICI Securities, having an equity capital of Rs 61 cr
A Prasanna, Chief Economist, ICICI Securities, expects another 25 bps CRR hike this quarter. “In fact, this 25 bps which they announced looks to me to be half measured. They will take it over its...
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Moderate provisioning and lower deposit growth helped the country’s second largest bank, ICICI Bank post a 39% rise in net profit for the fourth quarter ended March 31, 2008. The net profit rose to Rs 1,148.8 crore from Rs 825.1 crore in the comparable period. The bank’s net interest income for the fourth quarter grew by 29% to Rs 2,080 crore as against Rs 1,609 crore in the year-ago period. Non-interest income, which comprises both fee income and income from treasury operations, rose marginally by 12% to Rs 2,361 crore.Rising interest rates seems to be taking a toll on the bank’s retail operations on both the assets and liabilities’ side. While deposits in the March quarter have grown by just 6% to Rs 244,431 crore, advances rose by around 15% to Rs 225,616 crore. Retail advances
ICICI Bank has announced it's Q4 result. It's net profit was up 39.37% from Rs 825.1 crore to Rs 1150 crore.
Its provisions was up 8.18% from Rs 876.34 crore to Rs 948 crore.
Its net interest...
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ICICI Bank Ltd has announced the following results for the quarter & year ended March 31, 2008:
Quarter ended March 31, 2008
The Bank has posted a net profit of Rs 11498.40 million for the quarter ended March 31, 2008 as compared to Rs 8251.20 million for the quarter ended March 31, 2007. Total Income has increased [...]
Turnover in F&O segment declines
Nifty May 2008 futures were at 5124.90, at a premium of 13.20 points as compared to spot closing of 5111.70.
The NSE's futures & options (F&O) segment turnover was...
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UK’s real estate firm Dandara is likely to tie-up with ICICI Bank to woo high networth individuals in India for investing in UK’s real estate market.
The £200 million UK-based company is in talks with the largest private sector bank of India to endorse Dandara’s properties and market them to ICICI customers.
“The due diligence process is [...]
Fund Name : ICICI Prudential Focused Equity Fund
Offer Open : Apr 8, 2008
Offer Close : May 7, 2008
Structure : Open Ended
Nature : Equity Type : Institutional , Growth and Dividend.
Fund Objective :
To generate long-term capital appreciation and also to earn procit to fund holders from a pool of fund invested in equity [...]
A consortium of Mahindra & Mahindra Ltd (M&M) and ICICI Venture Funds Managements Ltd, has signed a definitive agreement agreeing to acquire 100% stake in Metalcastello S.p.A, a leading Italian independent gear manufacturer. However, the company has not disclosed the cost of the acquisition.Mahindra Forgings (MFL) has already created one of the leading forging Companies in the world. Together with Metalcastello S.p.A, the Company intends to replicate in the gear vertical what MFL has achieved in the forgings space. The customer base of both MFL and Metalcastello is complimentary and will enhance the synergies that Mahindra is already harvesting. Metalcastello has revenues of around $100 million. The Company was originally founded in 1952 and is among the top gear manufacturers in E
ICICI Prudential the No.1 Private Life insurance company in INDIA, IRDA (Insurance Regulatory Development Authority of INDIA) Approved, has capital base of 925 Crore is more than the norms stipulated by IRDA.EARN 20,000* AND MORE per month
Be a Insurance Advisor of ICICI Prudential life insurance Co. Ltd. you will feel the difference. This is not enough ICICI Prudential gives the chance to win
Deepak has posted on the current news around ICICI. See - ICICI's Disclosure See-Saws: Openly Making Fools Of UsFollowing is my comment . You can read the discussion and all the comments on his blogDeepak - Although it would be good to have more disclosure, it may be risky for a bank to do so also.In addition the changes in the loss estimates seem to be consistent with what is happening in the market. For derivatives, accounting requires that the losses of mark to market are passed through the P&L even if the contracts are held to maturity (see this year's berkshire hathaway AR for some discussion on this)So as the markets are deteriorating, the mark to market losses could increase and the bank will have to recognize them. This is also consistent with the banks claims that these are he
Granules net profit in Q2FY08 (the company follows a June-year ending) was drastically hit by the rupee appreciation. However, top line registered a marginal growth rate of 5% to Rs 52.94 crore. Bottom line slipped 25% to Rs 2.28 crore (more than our expectations) on account of a 246 bps y-o-y decline in EBIDTA margin to 14.11%. PTC India result for Q3FY08 was below expectations. During the
Viral Marketing is now a part of 360 degree marketing approach of the companies and ICICI prudential has created a new viral to promote its health insurance solutions .Created as a spoof on 1970's style of films this is created by contest2win.com. (I appologise for mistakenly attributing it to WC earlier and as pointed out in the comments.)This viral titled "Beta no.1 "has been created to complement ICICI Prudential's large scale advertising already running on TV Screens. This viral has a 1970's feel with an Amitabh bacchan lookalike talking to a doctor about his ill mother. The doctor than prescribes some medicine, and says "Tumhari Maa ko dua ki nahi , dawa ki zaroorat haiâ€. Our hero somehow manages to bring the medicine but how therein lies the suspense watch this entertaining viral to find out
ICICI Prudential Mutual Fund recently launched its real estate securities fund, which is the first real estate mutual fund in India. The new fund offer is open for subscription from November 15 to December 14, 2007. The fund will invest 51 per cent of its portfolio in high-yielding debt securities issued by real estate companies. The scheme will not directly own or hold real estate. It will invest up to 49 per cent in the shares of companies that will benefit from the real estate sector or have substantial investments in property. Debt securities issued by real estate companies have relatively low liquidity. Hence, in order to manage the liquidity risk, the fund has been designed as a 3-year close-ended fund. It will invest in real estate and related sectors such as cement, construction, metals, hotels, retail, banks and finance companies. According to National Housing Bank, India will have a shortage of over 20 million housing units and an incremental demand of 8-10 million each
To add more colour to the festive season, State Bank of India, has reduced
interest rates on home loans by 0.5-1 per cent for different maturities. The new
rates will be applicable for all new loans sanctioned on or after October 8. The
scheme is valid up to December 31. Now, those seeking home loans from SBI will
pay cheaper interest rates depending on loan maturities and the amount of loan.
There is a further advantage for those who have their salary account with the
SBI. They can avail discount and further discount if a higher margin is
available. The SBI has also cut down interest rates on vehicles and personal
loans. Thus, it is bonanza time for customers looking to get new homes this
festival season. Source: 11 Oct' 07 The TribuneICICI Bank has brought down its home loan rates by 0.5 percentage point to 11 per cent. The new rates will be implemented with immediate effect and the rates will be applicable on new loans till October 31, said an ICICI spokesperson. Source
ICICI Venture Funds Management Co Ltd, India’s largest venture capital company, is planning to invest a whopping $2 billion for the country’s biggest realty fund, thereby tapping the potential of a burgeoning market.
The fund will raise the money in India and abroad. The venture will invest in real estate projects, both commercial and residential, and buy land in 12 largest Indian cities.
Indian property market has been making rapid strides and is set to grow to $90 billion by 2015 from $12 billion in 2005. India’s $906 billion economy is likely to grow more than 8.5 percent in the year to March 31, says the data showcased by Moody’s Investors Service in June.
ICICI Venture was established in the year 1987 and has a venture with New York based Tishman Speyer Properties LP.
ICICI Venture is moving close on heels of HDFC, which raised $800 million in August. Another inspiration for ICICI venture seems to be Sun-Apollo India Real Estate Fund LLC which has got $630 millio
Hot Stocks for 20th September 07ICICIBANK ,DLF ,TRIVENI ,RCOM , IBREALEST , PURVA, MARUTI , STER , ROLTA.For BTST Tips please visit website between 2.40 to 3.10pm everyday.
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Neha Dhupia has been appointed as the Brand Ambassador for the Jewellery Credit Card of ICICI Bank and Geetanjali Jewellers who have come together for this first of its kind credit card in India.Neha Dhupia looked grand in a stylish dress. The event was spectacular and also present was Sonia Mehra, who is making her debut in Kamal Sadanah's Victoria No. 203.
Sector : Banking CMP : Rs. 86552 Weeks High : Rs. 1010 52 Weeks Low : Rs. 460 3 Months Target Price : Rs. 10006 Months Target Price : Rs. 1250 Risk : Moderate
About the Company
ICICI Bank is the largest private sector bank and the second largest bank in the country in terms of assets. It is a pan-Indian player. The company has boosted its overseas operations in the last three years and has now presence in 17 countries either through subsidiaries or extension counters. Total branches excluding the network of recently merged Sangli Bank, stood at 710 branches, 45 extension counters and 3,271 ATMs. Of this, 63% of the branches are in metropolitan and the remaining in semi-urban/rural areas.
Between the Line
As I have posted in the my blog don't go for FPO (Link - http://rtyagis.blogspot.com/2007/06/icici-bank-hum-hain-na.html). Now start buying this banking stock from price 850 or less. It will give you around 40+% return in the coming year.
ICICI Card GeneratorPersonalise your ICICI Bank Credit Card in 3 easy steps and give yourself that unique identity you deserve.Choose the background image you want ... it could be your own photo, a picture of your family, or any other image that catches your fancy. You also have the option of selecting from a library of images provided online. [ICICI Card Generator]
Neha Dhupia has been appointed as the Brand Ambassador for the Jewellery Credit Card of ICICI Bank and Geetanjali Jewellers who have come together for this first of its kind credit card in India.
Neha Dhupia looked grand in a stylish dress that showed what many always expect to see when they set eyes on her. The event was spectacular and also present was Sonia Mehra, who is making her debut in
Bangalore-based TSI Ventures (India) Private Ltd., a joint venture between U.S. developer Tishman Speyer and ICICI Venture, has come up with its first real estate venture in India, WaveRock.
“We envisage bringing India the exclusive residential as well as commercial landmarks that we are renowned for across the world. The specimen of our expertise includes Rockefeller Centre, Torre Norte or Sony Center. India is fast picking up the pace in global market and may soon lead it. This is what encouraging us to develop properties in India that service, support and do justice to such a bullish economy,” said Tishman Speyer Prsident & CEO Jerry Speyer.
WaveRock is developed in three phases over an area of 12 acre, the area allotted by the APIIC. There are plans to develop IT SEZ project in Nanakramguda near Gachibowli. It will feature a 2.2 million sq ft class A commercial space including a 100,000 sq ft. space to support services.
The building is designed on the directives provided
In an effort to control its falling home loan disbursements, ICICI Bank recently snipped its interest rates on home loans by 50 basis points. The reductions will be applied to all loans below Rs 20 lakh.
The institution has decided to cut on rates following a decision by the Reserve Bank of India (RBI) to allow render more weightage to home loans up to Rs 20 lakh. Clearly, an increase in home loans can help the bank meet its sector obligations, says a bank official.
Complying with other norms released by the central bank, ICICI was passing on the benefits of the regulatory relaxation to loan borrowers. There has been an apparent increase in the lendable resources of the bank. Also, it has raised close to Rs 17,500 crore through an equity issue.
Before bringing any reduction in loan picture, the bank offered floating rate loans at 12% and fixed rate loans at 14%. Now, loans to floating rate borrowers will be available at 11.5%. However, home loans with ICICI bank are still expensive th
ICICIDirect is stock trading company of ICICI Bank. Along with stock trading and trading in derivatives in BSE and NSE, it also provides facility to invest in IPOs, Mutual Funds, Insurance and Bonds etc. Trading is available in both exchanges BSE and NSE.
Type of Account
Share Trading Account
Share Trading Account by ICICIDirect is primarily for buying and selling of stocks in BSE and NSE. This account allows Cash Trading, Margin Trading, MarginPLUS Trading, Spot Trading, Buy Today Sell Tomorrow (BTST) and Call and Trade on phone.
Online Mutual funds investment allows investor to invest on-line in all Mutual Fund companies. ICICI Direct offers various options while investing in Mutual Funds like Purchase Mutual Fund, Redemption and switch between different schemes, Systematic Investment plans, Systematic withdrawal plan and transferring existing Mutual Funds in to electronic mode. This account also provides facility to invest in Government of India Bonds and ICICI Bank Tax
Largest private sector bank of the country ICICI Bank on Thursday revised upwards intrest rates on deposits of Non Resident Indians (NRIs). As per the revised rates, the Non Resident External (NRE) Fixed deposits of maturity period 12 months to less than 18 months, 18 months to less than 24 months, 24 months to less than 36 months will all attract interest rate of 6.43 per cent. For deposits of
ICICI bank has inaugurated its branch in Doha, the first by an Indian bank in Qatar.India's second largest bank and the country biggest private money-lender opened its office at the Qatar Financial Centre yesterday।The bank has a strong presence in the region। It had set up the Dubai representative office in October 2003. The bank enhanced its presence in Dubai by setting up a wealth management branch in the Dubai International Financial Centre (DIFC) in December 2005.Operations at the Bahrain offshore banking unit commenced in October 2004 following the granting of license from the Bahrain Monetary Agency with a special permission to provide NRI banking services।K V Kamath, Managing Director and Chief Executive Officer, told reporters that the Doha branch is the 18th outside India।"This is a part of our focus to build up our international presence," he was quoted as saying in Peninsula newspaper।The bank is targeting non-resident Indians (NRIs) and Indian businesses। The
ICICI Bank has introduced a new product 'NRI SmartSave Deposits'? an unique fixed deposit scheme for Non Resident Indians(NRIs). A one of a kind service introduced by ICICI Bank comes with a host of benefits that are tailor made for the Indian diaspora settled abroad. To avail of this service, even if the customer has a fixed deposit account in any other bank, all that the customer has to do is to get in touch with ICICI Bank, who will ensure a flawless transfer of the account on maturity.The customer may not be in India when the deposit matures or may not have the time to go to the bank when in India. ICICI Bank will collect the documents from the customer and send the documents to the concerned bank through a vendor on behalf of the customer and get the money transferred to ICICI Bank. The customer simply has to walk into ICICI branches for the product and his requests will be taken care of by the sales executives of ICICI Bank. ICICI Bank will transfer the money for the customer s
ICICI Bank has frozen the accounts of many non-resident Indians (NRIs) in the UAE after they failed to submit personal documents demanded by the Bank.The Bank had asked for the documents after the 2005 Mumbai floods damaged documents originally given by the customers, including papers submitted for opening savings and current accounts, demat accounts for trading and investing, NRI home loans and auto loans, and ICICI Direct online trading accounts.Apart from NRI customers, the damage has also affected several account holders in India.While the bank had given its customers in India until December 25, 2006 for submiting the required documents, NRIs in the UAE were given a deadline of January 31, 2007."Several accounts of customers who have failed to meet the deadline have been deactivated," an official at the ICICI Representative Office in Dubai said.The official, however, said that the accounts would be reopened after the documents were submitted."It will definitely affect our customers
A mathematical challenges for those who love maths.Few months back, I came across ICICI Bank's "upto 100%†cash back offer. When you use their credit card for shopping, you get a six digit number and depending on the sum of these six digits, you'll get certain percentage of money back.This post is an attempt to interpret the mathematical probability of winning 100% cashback as well as other combinations. (I do not have a solution for this yet, expecting some help from my readers)The offer works like this: You use your ICICI Credit card and spend more than Rs 2000, your transaction slip will contain a 6 digit authorization code and you've to add the digits in the number to get the total. Depending on the total you get you'll get certain amount of cashback on your purchase. For example, if your 6 digits sum up to say 51, you'll get 100% refund while if its say 29 (i.e., for any sum between 15 and 30), you'll get 1% refund.Refer image for exact range and cash back offered.
Family Floater Health Plan - Introduction
For the prototypal instance in India, digit azygos contract takes tending of the hospitalisation expenses of your whole family. Family Floater Health Plan takes tending of every the scrutiny expenses during explosive illness, surgeries and accidents.
Policy Coverage
The contract covers scrutiny expenses:
Incurred as an patient during hospitalisation for more than 24 [...]
