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ICICI Bank gains on launching ‘FD Health’

ICICI Bank is currently trading at Rs. 431.60, up by 3.00 points or 0.70% from its previous closing of Rs. 428.60 on the BSE.

The scrip opened at Rs. 430.00 and has touched a high and low of Rs. 433.20 and Rs. 428.00 respectively. So far 111001 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 458.45 on 26-Sep-2019 and a 52 week low of Rs. 309.60 on 15-Oct-2018.

Last one week high and low of the scrip stood at Rs. 438.40 and Rs. 417.40 respectively. The current market cap of the company is Rs. 277938.45 crore.

The Institutions holding in the company stood at 88.57% and Non-Institutions held 11.03%.

ICICI Bank has launched ‘FD Health’, a Fixed Deposit (FD) offering the dual-benefit of investment growth via FD and protection through critical illness coverage. The customers will be offered the insurance cover free of cost for the first year and thereafter, they can renew it.

This first-of-its-kind offering in the industry provides the customer a complimentary critical illness cover of Rs 1 lakh from ICICI Lombard General Insurance Company on opening an FD of Rs 2 lakh to Rs 3 lakh for tenure of at least two years. In addition to getting a competitive interest rate, the customers, who are in the age bracket of 18-50 years, get a complimentary insurance cover for a year on 33 critical illnesses.

ICICI Bank has inked pact with CSC e-Governance Services India to extend its banking and other services to the country’s rural regions. As per the MoU (memorandum of understanding), the bank will engage more than 3 lakh CSCs (common service centres) working at the last mile as banking correspondents.