ICICI Bank commits Rs 10 cr to Indian Armed Forces

Leading private sector lender on Monday committed a financial assistance of Rs 10 crore to the Indian Armed Forces for welfare activities and betterment of the families of ex-servicemen who have lost their lives guarding the nation.
The contribution will be payable in two equal tranches this year and next year.
Chanda Kochhar, MD & CEO, ICICI Bank on Monday handed over a cheque worth Rs five crore to Minister of Defence Nirmala Sitharaman at a function in the Raksha Mantralaya.
Defence Minister Nirmala Sitharaman tweeted, “We express gratitude to CEO of ICICI Bank Chanda Kochhar for committing Rs 10 crore to the the Armed Forces Flag Day Fund. Jai Hind!.”
Chanda Kochhar, MD and 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.
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. (PTI)
The Kendriya Sainik Board which formulates policies for resettlement and welfare of ex-servicemen and their dependents, will undertake the administration of the programme. (UNI)