India’s largest private bank in terms of assets ICICI bank has decided to provide Rs. 10 Crore financial assistance to Indian Armed Forces. The contribution will be used in welfare activities of family members of the ex-servicemen who lost their lives while guarding the nation.
Highlights of ICICI Bank Aid to Armed Forces
- The amount will be given in two tranches first in this year and next tranche in next year.
- First tranche of Rs. 5 Crore was delivered by MD & CEO, ICICI Bank – Chanda Kochar to Defence Minister Nirmala Sitharaman at a function in the Raksha Mantralaya.
- The amount of first tranche will be utilised for welfare activities such as education for young children and widows of the soldiers to make them educated so that they can move ahead in their lives.
- The second tranche will be used for social activities such as financial assistance for marriages of daughters of ex-servicemen.
About ICICI Bank:
Full form: Industrial Credit and Investment Corporation of India
Headquarter: Mumbai, Maharashtra
CEO: Chanda Kochar
Bank Establishment year: 1994