ICICI Bank inaugurates 4,000th branch; 1,000th self-service kiosk

ICICI Bank today announced the inauguration of its 4000th bank branch at Sector 37D in Chandigarh

Written by: India.com Business Desk

Updated: April 1, 2015, 2:12 PM IST

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https://www.india.com/business/icici-bank-inaugurates-4000th-branch-1000th-self-service-kiosk-337173/ Copy

Mumbai, Apr 1: ICICI Bank, India’s largest private sector bank, today announced the inauguration of its 4000th bank branch at Sector 37D in Chandigarh. It is the first private sector bank in the country to achieve this milestone. Additionally, the Bank also inaugurated over 50 branches in other parts of the country during the day, thereby taking its total branch count to 4050. The Bank’s branch footprint covers 2300 locations across the country from Sopore in Jammu and Kashmir to Nagercoil in Tamil Nadu to Naliya in Gujarat and Mokokchung in Nagaland. (READ: ICICI Bank Limited launches ‘Touch n Remit’ facility for NRIs in Kingdom of Bahrain)

Speaking at the inauguration, Bank MD & CEO Chanda Kochhar said, “We believe that a wide branch network is a cornerstone of retail banking.  Today’s important milestone is yet another step towards providing our customers improved access and proximity to the Bank’s services. 52% of our branches are in rural and semi-urban areas, which is also a testimony of our commitment towards financial inclusion in the country. This has enabled us to open over two million accounts under the Pradhan Mantri Jan-Dhan Yojana – the highest among private sector banks,” she said.

Kochar said, “We are among the pioneers in evolving newer branch models suited to the changing environment and various customer segments. The Bank also has 450 ‘Gramin’ branches and its mobile ‘Branch – On – Wheels’ for servicing remote unbanked villages which so far did not have any bank branch. We service around half-a-million customers daily and will add over 400 branches in the next fiscal, which is equivalent to the branch network of a small bank.”

The Bank also announced the inauguration of its 1000th self-service kiosk for accepting cash at its Santacruz branch in Mumbai. Part of its branch automation strategy, these kiosks enable anyone (account holder or not) to deposit cash in an ICICI Bank account in a completely automated manner with the account receiving instant credit. This is in lieu of filling up pay-in-slip and manual cash deposit at the teller counter. Available across 390 cities, over one fourth of these kiosks are available round-the-clock on all days.