ICICI Bank commits Rs 10 crore to the Indian Armed Forces

The contribution will be utilised towards the welfare needs of the widows and children of ex-servicemen, who have lost their lives guarding the nation

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Chanda Kochhar, MD and CEO, ICICI Bank

NEW DELHI: ICICI Bank today committed a financial assistance of Rs 10 crore to the Indian Armed Forces. The contribution, payable in two equal tranches this year and next year, will be utilised towards welfare activities and betterment of the families of ex-servicemen who have lost their lives guarding the nation.

Chanda Kochhar, MD & CEO, ICICI Bank today handed over a cheque worth Rs. 5 crore to the Honourable Minister of Defence Nirmala Sitharaman at a function in the Raksha Mantralaya.

Chanda Kochhar, MD & CEO, ICICI Bank, said, “Our Indian Armed Forces bravely guard our borders and protect us. Many of these men have valiantly fought and made the ultimate sacrifice of laying down their lives for our country. While no amount of assistance is enough to fill the loss for the families, this gesture is our humble endeavor to contribute towards their betterment.

Through the various skilling initiatives which have been undertaken by ICICI Bank in the past, we have seen that the maximum impact on an individual’s life can be made by equipping him or her with skills and knowledge which enables him or her to participate in the economic opportunities”.

This fund will be used for two programmes to support the daughters of the armed forces. The first will be towards the post-graduation education of the widows of ex-servicemen and also to support education for their wards. The second scheme will be to provide financial assistance towards marriages of the daughters of the ex-servicemen.

The Kendriya Sainik Board, an apex body of the Government, which formulates policies for resettlement and welfare of ex-servicemen and their dependents, will undertake the administration of the programme. This body will be responsible for the allocation of funds, identification of the recipients and overall functioning of the programme.

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