ICICI Bank gets RBI nod to make I-Process Services as wholly-owned subsidiary
ICICI Bank has announced that it has secured approval from the Reserve Bank of India (RBI) to convert I-Process Services (India) Pvt Ltd (I-Process) into a wholly-owned subsidiary, subject to specific conditions, according to the Bank’s latest regulatory disclosure.
Established in 2005, I-Process has been at the forefront of offering staffing solutions to some of India’s leading financial institutions. The company boasts a workforce of over 25,000 employees and an extensive presence spanning nearly 500 locations across India.
The anticipated total expenditure for this acquisition is approximately Rs. 15.40 crore. However, this amount is subject to finalization based on pricing considerations in accordance with applicable laws and regulations, pending the receipt of the necessary approvals. The Bank has noted that it currently holds a 19% stake in iProcess.
Find More News Related to Banking
Birsa Munda Punyatithi is observed every year on June 9 to remember and honour Birsa…
Renowned scholar, author, and literary commentator Daji Panshikar, also known as Narahari Vishnu Shastri, passed…
The Chenab Rail Bridge is a world-famous railway bridge built in Jammu and Kashmir, India.…
The Chenab Rail Bridge in Jammu and Kashmir is the world's highest railway arch bridge.…
In a momentous achievement for rural digital transformation, Rohini Gram Panchayat in Shirpur taluka, Dhule…
In a landmark move for the Union Territory of Ladakh, President Droupadi Murmu has promulgated…
![](data:image/svg+xml;charset=utf-8,<svg height="300px" width="300px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
