ICICI Bank gets RBI green signal to make I-Process its wholly-owned subsidiary

11 Sep 2023 , 11:37 AM

ICICI Bank announced on Friday that it has received the Reserve Bank’s approval to make I-Process Services (India) Private Ltd a wholly-owned subsidiary of the bank.

At its meeting on February 17-18, 2023, the bank’s board of directors approved a proposal to make I-Process Services (India) Private Limited (iProcess) a wholly-owned subsidiary of the bank, subject to regulatory and statutory approval.

The bank said in its filing with the bourses that the bank has received approval from the Reserve Bank of India for iProcess its wholly-owned subsidiary, subject to terms & conditions.

Currently, the bank holds a 19% stake in iProcess.

I-Process Services (India) Private Ltd was founded in 2005 to provide workforce solutions to some of India’s leading financial institutions.

With extensive experience in recruitment, HR operations, payroll, compliance, and training, I-Process can navigate market constraints and changing societal dynamics to provide cutting-edge solutions at all times.

For feedback and suggestions, write to us at [e-mail]