ICICI Bank, the country’s largest private sector bank by consolidated assets, committed 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 lost their lives guarding the nation.
This fund will be used for two programmes. The first will be towards the post-graduation education of the widows of the soldiers and also to support education for their wards. The second scheme will be to provide financial assistance for marriages of the daughters of ex-servicemen.
Chanda Kochhar, MD & CEO, ICICI Bank, has handed over a cheque for Rs. 5 crore to Defence Minister Nirmala Sitharaman at a function in the Raksha Mantralaya.
The Kendriya Sainik Board, an apex body that formulates policies for resettlement and welfare of ex-servicemen and their dependents, will undertake the administration of the programme.