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Non-Tech : ICICI Ltd - (Nyse: IC) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (11)	12/20/1999 3:39:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 494

Net gets ICICI Bank large NRI deposits NRI=Non-resident Indians crore=10 million Posted December 20, 1999 Mumbai, December 20: ICICI Bank has reaped rich dividends for going the whole hog in internet banking having doubled its non-resident Indian (NRI) deposits to Rs 500 crore ($116 million) in less than nine months since April 1999. The pioneering web initiatives are expected to swell the bank's NRI deposits by another Rs 250 crore by March 31, 2000, ICICI Bank's senior vice president (retail banking) Mohan N Shenoi said. The bank has built up the NRI deposits without any physical presence abroad and utilises the correspondent banking arrangements to channel the deposits put in by NRIs. The listing of parent ICICI Ltd on the New York Stock Exchange provided wide exposure to the bank's website and also gave a boost to ICICI Bank's image in the USA, he said. india-today.com