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.
There has been a recently discovered plant from the Himalayas which has been given the…
The 8th edition of the India-USN EOD Exercise 2026 was concluded at the Southern Naval…
The Ministry of Youth Affairs and Sports declared the National Sports Awards 2025 on August…
India is rapidly emerging as a major semiconductor manufacturing and packaging hub. Under the Semicon…
Indian-origin astronomer, Dr. Rohan Naidu, discovered a unique cosmic object that is known as "Black…
Indian chess players Vignesh Vermula and Saranya Devi have won gold medals in the Open…