ICICI Bank Ltd. has raised 150 billion rupees ($2 billion) in the capital, joining a variety of Indian lenders that are creating war chests because the coronavirus pandemic threatens to push up bad loans.
The Bank is committed to serving peoples in every possible manner. Their Digital Solutions are iMobile, InstaBiz, Pockets, and Internet Banking are equipped with 300+services. The interest of people’s health and safety, they encourage to use their digital solutions while they stay safe reception and the bank believes that with such an array of digital services at their disposal, they will hardly find any reason to go to their branches.
The bank provides relief to the general public from the financial impact of COVID-19, the govt. of India announced various economic relief measures. It takes a glance at a number of the actions that the govt has undertaken to ease individual taxpayers it involves deadline of filing taxes extended, premature withdrawal from EPF Non-Taxable, deadline for submitting TDS exemption form extended, deadline of paying disputed taxes under the VSV scheme extended and pending tax refunds to be immediately processed.
The end of the year usually marks a rush in filing returns, paying disputed taxes, and completing yearly investments. The arrival of COVID-19 has slowed all normal activities and has almost halted the economic machinery.
The nation’s second-largest private- sector bank placed almost 419 million shares with qualified institution at 358 rupees apiece, it said in an exceedingly statement on Saturday. The problem opened on Aug 10 and closed 0n Aug 14.
The Singapore government’s sovereign wealth fund picked up 11.08% of the location, while a Morgan Stanley investment fund bought 7.31% and a Society General SA fund took 5.55%, the Indian lender said.
ICICI Bank had already raised about 31 billion rupees by paring stakes in its publicly traded units, including ICICI Prudential insurance Co. and ICICI Lombard General Insurance Co., per exchange filings.
