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What is the role of ICICI Bank?

April 26, 2017Bank ICICI

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What is the role of ICICI Bank?

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All applications made through ICICIdirect shall be handled by ICICI Bank who would act as a RBI authorised Receiving Office. ICICI Bank would allot the Bond Ledger Account (BLA) no. for the investments made through ICICIdirect.

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As far as ICICI Bank is concerned, its 21.35 per cent stake in Federal Bank is a strategic investment. It has one nominee on the board. The bank has been allowed to function independently and there has been little interference by the ICICI group. We do share information from time to time but at no time has anyone from ICICI Bank has breathed down my neck. What is the shareholding pattern in the bank? Besides ICICI, FIIs have 1.6 per cent, FIs and MFs 7.75 per cent, NRIs 1.14 per cent and others 68.16 per cent.