ICICI Bank gets RBI nod for 425 branches

http://thebankpage.blogspot.com/icici-rbinodIndia’s second largest bank ICICI Bank has received permission from the Reserve Bank of India’s to open 425 new branches and over 2,500 ATMs. The bank currently has a network of 950 branches and extension counters and about 3,600 ATMs. This is the first time that the central bank has allotted such a large number of branches to any private sector bank in India. This is over and above the 100 branches that ICICI Bank received after the embargo on several banks that followed the IPO scam. The majority of the new branches will be in semi-urban and rural regions.