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ICICI Bank signs MoU with Assam Rifles to offer special banking services

March 01, 2022




Lt. Gen. P.C. Nair, AVSM, YSM, Director General- Assam Rifles and Mr. Vishal Batra, Regional Business Head & Head of Defence Ecosystem, ICICI Bank, signed the MoU at the headquarters of Assam Rifles at Shillong.

Lt. Gen. P.C. Nair, AVSM, YSM, Director General- Assam Rifles and Mr. Vishal Batra, Regional Business Head & Head of Defence Ecosystem, ICICI Bank, signed the MoU at the headquarters of Assam Rifles at Shillong.

  • Range of services include zero balance account, preferential allotment of lockers, unlimited free ATM transactions and insurance benefits

  • Serving and retired personal are eligible for these services

Guwahati: ICICI Bank signed a Memorandum of Understanding (MoU) with the Assam Rifles, the oldest paramilitary force of the country, to offer a range of specially curated banking services to the serving as well as retired personnel. The MoU was signed at the headquarters of Assam Rifles at Shillong by Lt. Gen. P.C. Nair, AVSM, YSM, Director General- Assam Rifles and Mr. Vishal Batra, Regional Business Head & Head of Defence Ecosystem, ICICI Bank.

 

As part of the MoU, the Bank offers a comprehensive bouquet of benefits like a zero balance account, preferential allotment of lockers, unlimited free transactions at any ATM in India, and life-time free credit card from the Bank’s premium gemstone collection. Further, the Bank provides an array of insurance benefits to the personnel. ICICI Bank offers air accident insurance cover of Rs. 1 crore on aircrafts—both military and commercial. The unique offer is valid even if the tickets for commercial aircraft are bought by cards of other banks. The account holders get a personal accident insurance cover of Rs. 50 lakh. They are entitled to get another Rs. 10 lakh, in case of casualty during combat or hostile action, which is the most offered by any bank for similar salary accounts. Further, in case of accidental death, the family of the deceased will get Rs. 5 lakh for education of children and additional Rs. 5 lakh for the education of the girl child. The benefits also include permanent total and partial disability insurance cover upto Rs 50 lakh for disabilities due to accident. These benefits are available to the personnel across all ranks and are extended to the new recruits as well as to the retired personnel of Assam Rifles upto the age of 80 years.

 

Speaking about the initiative, Mr. Vishal Batra, Regional Business Head & Head of Defence Ecosystem, ICICI Bank said, “We are honoured to sign an MoU with the Assam Rifles. We are delighted to offer a bouquet of banking services and benefits that are specially curated to provide comfort and convenience to the personnel in daily transactions, easy access to banking through our large network of branches, ATMs and digital banking channels. We believe that this renewed proposition will benefit a large section of the serving and retired personnel of Assam Rifles. Additionally, to provide increased protection to the personnel and their families, we are offering enhanced insurance covers as well as financial assistance for education of the children of the martyrs.”

 

To apply for the account, the personnel can visit the nearest branch of the Bank. They can also contact officials of the Bank during the Bank’s outreach to cantonments / regiments.

 

For news and updates, visit here and follow us on Twitter at www.twitter.com/ICICIBank

 

For media queries, write to: corporate.communications@icicibank.com

 

About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at ₹16,82,904 crore at December 31, 2021.

 

Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward - looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward - looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non - performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward - looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov



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