Company Profile

ICICI Bank has slashed interest rates on savings accounts by 25 basis points for deposits up to Rs 2 crore. The new rates will be effective from April 09, 2020. Savings bank accounts with deposits up to Rs 50 lakh will earn 3.25 per cent interest as against existing 3.5 per cent. At the same time, savings bank account with deposit over Rs 50 lakh but less than Rs 2 crore will fetch 3.75 per cent, from the current rate of 4 per cent.

ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.

ICICI Bank has launched banking services on WhatsApp to enable its retail customers to undertake a slew of banking requirements from their home at a time when they are advised to stay indoors in the wake of the nationwide lockdown to fight against corona virus.

The bank launched this new service on WhatsApp close on the heels of rolling out 'ICICIStack', a set of digital banking and APIs (Application Programme Interface), to ensure uninterrupted banking experience to customers-both retail and business. 'ICICIStack' offers nearly 500 services that covers almost all banking requirements of customers such as digital account opening, loan solutions, payment solutions, investments and care solutions.

ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.

ICICI Bank has invested Rs 51.09 crore in Auxilo Finserve, an associate company of Balrampur Chini Mills, by way of subscription to its 3,40,62,153 Equity Shares of Rs 10 face value per share, constituting 9.90% of its Equity Share Capital at a premium of Rs 5 per share, pursuant to the definitive agreements executed on March 25, 2020. Prior to the above investment, Balrampur Chini Mills held 50% of the Equity Share Capital in Auxilo Finserve, which now stands at 45.05%.

ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.

NTPC has signed share purchase agreements to acquire the government's stakes in THDC India (THDCIL) and North Eastern Electric Power Corporation (NEEPCO) for a total of Rs 11,500 crore. NTPC has entered into share purchase agreements (SPAs) with the central government to acquire its 74.496 per cent equity stake in THDCIL for Rs 7,500 crore and its 100 percent equity in NEEPC for Rs 4,000 crore.

Yes Bank’s board has approved a proposal to raise funds for an additional amount aggregating up to Rs 5,000 crore. The fund may be raised in one or more tranches by way of issuance of securities but not limited to through a qualified institutions placement/ public issue, rights issue, global depository receipts, American depository receipts, foreign currency convertible bonds or any other permissible mode. The board meeting held on March 26, 2020 has cleared this proposal.  

Consequent upon receipt of requisite approval from the Seller, Maharashtra Seamless has acquired an Offshore Jack Up Drilling Rig from Star Drilling, Singapore, an associate of the company for $100 million. The said Rig is currently operating under contract with Oil and Natural Gas Corporation (ONGC).

ICICI Bank has invested Rs 51.09 crore in Auxilo Finserve, an associate company of Balrampur Chini Mills, by way of subscription to its 3,40,62,153 Equity Shares of Rs 10 face value per share, constituting 9.90% of its Equity Share Capital at a premium of Rs 5 per share, pursuant to the definitive agreements executed on March 25, 2020. Prior to the above investment, Balrampur Chini Mills held 50% of the Equity Share Capital in Auxilo Finserve, which now stands at 45.05%.

Bharti Airtel is offering free access to thousands of e-books on its platform, Juggernaut Books (formerly Airtel Books). As India stays at home to support the government's efforts to contain the spread of COVID-19, readers can now access thousands of top books and novels on Juggernaut Books for free by simply downloading the app (Android/iOS) on their smartphones.

NIIT and its subsidiary -- Eagle Productivity Solutions Inc. have developed a set of actionable roadmaps, toolkits and packaged services to help Learning and Development (L&D) organizations minimize the disruption caused due to the accelerating impact of the  COVID-19.

Bank of Maharashtra has received approval from Board of Director to raise equity capital of Rs 831 crore (including premium) through issue of equity share of bank to Government of India on preferential basis.