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.
India's pace bowler Arundhati Reddy has been named ICC Women's Player of the Month for…
Did you know that physics helps us understand how the world around us works, from…
Rwanda's young cricketer Fanny Utagushimaninde has scripted the history by becoming the youngest centurion in…
A major sporting event as the Khelo India Tribal Games 2026 to begins on March…
LeBron James has created the history by breaking the NBA record for most regular season…
President of India extended greetings on Sarhul Festival 2026 on March 22. This festival is…