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.
The Uttar Pradesh Green Hydrogen Policy, 2024 is a state level policy, which is intended…
India has become part of a multinational initiative that aims at guiding the development of…
Dr. NTR Vaidya Seva Scheme is a major health care program of the government of…
India performed its best ever by grabbing the fourth position at the Pickleball World Cup…
India’s contingent of 503 members headed for the Asian Games 2026 had been accorded a…
Chairman of NCSC, Kishor Makwana is set to receive the Dr APJ Abdul Kalam Jan…