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Term RACPC in ICICI Bank Statement?

Updated: 9/26/2023
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Q: Term RACPC in ICICI Bank Statement?
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History of icici bank in detail?

* 1955 The Industrial Credit and Investment Corporation of India Limited (ICICI) was incorporated at the initiative of World Bank, the Government of India and representatives of Indian industry, with the objective of creating a development financial institution for providing medium-term and long-term project financing to Indian businesses. * 1994 ICICI established Banking Corporation as a banking subsidiary.formerly Industrial Credit and Investment Corporation of India. Later, ICICI Banking Corporation was renamed as 'ICICI Bank Limited'. ICICI founded a separate legal entity, ICICI Bank, to undertake normal banking operations - taking deposits, credit cards, car loans etc. * 2001 ICICI acquired Bank of Madura (est. 1943). Bank of Madura was a Chettiar bank, and had acquired Chettinad Mercantile Bank (est. 1933) and Illanji Bank (established 1904) in the 1960s. * 2002 The Boards of Directors of ICICI and ICICI Bank approved the reverse merger of ICICI, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, into ICICI Bank. After receiving all necessary regulatory approvals, ICICI integrated the group's financing and banking operations, both wholesale and retail, into a single entity. Also in 2002, ICICI Bank bought the Shimla and Darjeeling branches that Standard Chartered Bank had inherited when it acquired Grindlays Bank. ICICI started its international expansion by opening representative offices in New York and London. * 2003 ICICI opened subsidiaries in Canada and the United Kingdom (UK), and in the UK it established an alliance with Lloyds TSB. It also opened an Offshore Banking Unit (OBU) in Singapore and representative offices in Dubai and Shanghai. * 2004 ICICI opens a rep office in Bangladesh to tap the extensive trade between that country, India and South Africa. * 2005 ICICI acquired Investitsionno-Kreditny Bank (IKB), a Russia bank with about US$4mn in assets, head office in Balabanovo in the Kaluga region, and with a branch in Moscow. ICICI renamed the bank ICICI Bank Eurasia. Also, ICICI established a branch in Dubai International Financial Centre and in Hong Kong. * 2006 ICICI Bank UK opened a branch in Antwerp, in Belgium. ICICI opened representative offices in Bangkok, Jakarta, and Kuala Lumpur. * 2007 ICICI amalgamated Sangli Bank, which was headquartered in Sangli, in Maharashtra State, and which had 158 branches in Maharashtra and another 31 in Karnataka State. Sangli Bank had been founded in 1916 and was particularly strong in rural areas. ICICI also received permission from the government of Qatar to open a branch in Doha. ICICI Bank Eurasia opened a second branch, this time in St. Petersburg. * 2008 The US Federal Reserve permitted ICICI to convert its representative office in New York into a branch. ICICI also established a branch in Frankfurt.


What does CHGBK mean on your bank statement?

The term CHGBK on a bank statement means a chargeback. A chargeback can occur when a check is returned to the bank for insufficient funds.


What does ACF on your bank statement mean next to your name?

If you see ACF on your bank statement next to your name, it stands for Account Credit Facility. It is a commonly term in banking.


What does counter credit mean?

Counter credit means a person went into a bank and made a deposit with the teller. Sometimes this term will show up on your bank statement.


Does bank overdraft go on a balance sheet or income statement?

Bank overdraft is shown in balance sheet same as bank account or any other cash account, it's a short term bank credit.


What are the cash items in a cash flow statement?

Cash items in the cash flow statement encompasses all items that can be categorised under cash and cash equivalent. these include cash, bank, bank overdraft, short term investment.


What does fl gross mean on bank statement?

what does fl fross mean on your bank statement


What term is used to describe an if-then statement?

hypothesis is an if, then statement


What term best describes a mathematical statement?

A conditional statement


Which term determines a mathematical statement if A then b?

conditional statement


What is meant by the term safe bank?

Safe bank is a term to ensure that money in one bank is safe. The term safe bank can be related to the FDIC. Both of these terms have the same meaning.


What term best describes a mathematical statement of if a then b?

A conditional statement.