Released on: July 30, 2008, 1:58 am

Press Release Author: ICICI Bank

Industry: Financial

Press Release Summary: \"First bank in India to introduce Direct Banking\"

Press Release Body: Mumbai: ICICI Bank, India\'s second largest bank today launched \"b2- Branch- free
Banking\". \"b2- Branch- free Banking\", will offer seamless information through a single interface to facilitate banking transactions, over the internet. It is a unique direct bank which will empower customers to manage all their finances online.

In addition to easy access and anytime anywhere banking, customers opting for \"b2-
Branch- free Banking\", can benefit from zero charges and no minimum balance. The customers will also benefit from quantum optima facility, wherein if the balance exceeds Rs 5000, the money is automatically transferred, in multiples of Rs 5000, to a linked fixed deposit which will earn ICICI bank fixed deposit rates. It also offers facilities like an e wallet - a zero limit pre paid visa card which can be used for online purchases and to pay utility bills.

Mr. V. Vaidyanathan, Executive Director, ICICI Bank Ltd said, \" b2- Branch- free Banking\", signifies a new way of banking -100 % online. India has over 49 million internet connections and this number is growing at around 20%. So this innovation of banking \"only\" on the net will gather momentum.\"
\"b2- Branch- free Banking\", offers complete security to customers transacting on the internet by using different tools, methods, and processes to protect account information and banking transactions.

About ICICI Bank:

ICICI Bank Limited (NYSE:IBN) is India\'s largest private sector bank and the second largest bank in the country, with consolidated total assets of $121 billion as of March 31, 2008. ICICI Bank\'s subsidiaries include India\'s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank\'s presence currently spans 19 countries, including India.


Web Site: http://

Contact Details: For Press Queries: Charudatta Deshpande,
Head - Corporate Communications,
ICICI Bank;
Tel: 022-26538208,
e-mail: charudatta.deshpande@icicibank.com