ICICI Bank inaugurates its first branch in Budaun, Uttar Pradesh

Budaun: ICICI Bank Ltd, India's largest private sector bank, today launched its first

branch in Budaun district. The branch is located at Civil Lines on Railway Station Road

near Indira Chowk in Budaun.

It was inaugurated by Mr. Chandra Prakash Tripathi, District Magistrate, Budaun.

The branch will remain open for customer transactions from 9:00 am to 6:00 pm on

Monday to Friday and 9.00 am to 2.00 pm on Saturday. The branch will offer the entire

gamut of ICICI Bank products including a comprehensive range of deposits and loans in

addition to Privilege Banking and locker facilities to cater to different customer profiles

and needs.

Speaking on the occasion, Mr. Chandra Prakash Tripathi said, “It gives me great pleasure

to inaugurate ICICI Bank’s first branch in Budaun district. With this new branch, the

people of this town and adjoining areas will have greater access to ICICI Bank’s excellent

products and services. I look forward to the Bank further increasing its footprint in this

region.”

ICICI Bank has over 3,500 branches and extension counters, and over 11,100 ATMs

spread across the country. The Bank services its large customer base through a multichannel

delivery network of branches, ATMs, call center and internet banking

(www.icicibank.com).

 

[Swaswati Borpuzari]

ICICI Bank Inaugurates First Branch in Budaun, Uttar Pradesh: Expanding Financial Inclusion in Rural India​

In a significant step towards enhancing financial inclusion in rural India, ICICI Bank has inaugurated its first branch in Budaun, Uttar Pradesh. This move underscores the bank's commitment to extending its services to underserved regions and is part of a broader strategy to deepen its presence in the country's heartland.

Strategic Importance of Budaun​

Budaun, a district in western Uttar Pradesh, is known for its rich agricultural and cultural heritage. Despite its potential, the region has long been grappling with limited access to banking and financial services. ICICI Bank's decision to open a branch here is expected to bridge this gap, providing residents with a wide range of banking solutions and fostering economic growth.

Services Offered​

The new branch will offer a comprehensive suite of financial services, including savings and fixed deposit accounts, loans for various purposes such as agriculture, small businesses, and personal needs, as well as digital banking solutions. The introduction of these services is aimed at making banking more accessible and convenient for the local population.

1. Savings and Fixed Deposits: These accounts will cater to the diverse needs of the community, providing a safe and secure way to manage and grow their savings.
2. Loans and Credit Facilities: Specialized loan products tailored for farmers and small business owners will help in financing their activities and expanding their operations.
3. Digital Banking: The branch will also promote digital banking through mobile and internet banking services, enabling customers to perform transactions and manage their accounts with ease.
4. Financial Literacy Programs: ICICI Bank has plans to conduct regular financial literacy programs to educate the local population about the benefits of banking and financial management.

Impact on the Local Economy​

The establishment of this branch is likely to have a profound impact on the local economy. By providing essential financial services, ICICI Bank aims to empower the community and spur economic development. The branch will support local businesses, farmers, and entrepreneurs by offering them the necessary financial tools and resources. This, in turn, is expected to create new job opportunities and improve the overall standard of living in the region.

Community Engagement​

ICICI Bank has a strong track record of engaging with the communities it serves. The bank plans to work closely with local leaders, educational institutions, and NGOs to understand the unique needs of the Budaun district. This collaborative approach will ensure that the services provided are relevant and effective in meeting the financial requirements of the community.

Commitment to Financial Inclusion​

Financial inclusion is a key priority for ICICI Bank. The bank has been at the forefront of initiatives to bring banking services to remote and underserved areas. The Budaun branch is part of this broader commitment and aligns with the government's efforts to promote financial literacy and inclusion across the country.

Future Plans​

ICICI Bank has ambitious plans to further expand its reach in Uttar Pradesh and other rural areas. The success of the Budaun branch will serve as a model for future expansions, with the bank eyeing similar initiatives in other districts. The bank is also exploring partnerships with local microfinance institutions and self-help groups to amplify its impact and reach more households.

Conclusion​

The inauguration of ICICI Bank's first branch in Budaun, Uttar Pradesh, marks a significant milestone in the bank's journey towards financial inclusion. By providing essential financial services and promoting digital literacy, ICICI Bank is set to play a crucial role in the economic development of the region. This initiative not only benefits the local community but also contributes to the broader goal of ensuring that every Indian has access to banking and financial services.

As ICICI Bank continues to expand its footprint in rural India, it sets an example for other financial institutions to follow, paving the way for a more inclusive and prosperous future for all.