India’s largest private sector lender, ICICI Bank, has launched an e-wallet called ‘Pockets’, which can do everything a payments banks can do.

'Pockets' is a mobile application, which can be used to send money, pay utility bills, book movie tickets, send gifts and share expenses. One can use this service even if one doesn’t have an ICICI Bank account. With this app, one can also open a zero-balance account.

ICICI Bank, the largest private sector lender in the country, has initiated the process of repatriating capital from its Canadian arm for the second time in as many years. The bank is also planning to optimise the capital invested in its United Kingdom subsidiary.

“The bank and its UK and Canada subsidiaries also continue to work towards optimising the capital invested in these subsidiaries. ICICI Bank Canada has made an application to the Office of Superintendent of Financial Institutions, or OSFI, seeking approval for a second round of capital repatriation,” NS Kannan, executive director of ICICI Bank, told analysts during a recent interaction.

Benchmark indices have extended losses and are trading near day’s low with Sensex and Nifty slipping over 1% weighed down by metal, auto and financials shares.

By 10:15, the Sensex was lower by 341 points at 28,377 whereas the Nifty has slipped by 100 points at 8,561 levels.

Banking shares have extended losses for the second straight session on National Stock Exchange (NSE) after the Reserve Bank of India (RBI) Governor Raghuram Rajan decided to leave repo rate unchanged at its credit policy meet yesterday.

Bank Nifty, the banking share index is down 1.2% or 235 points at 19,148 at 10.15 hours. Meanwhile, the benchmark CNX Nifty is down 22 points at 8,734.75.

Shares of rate sensitive sectors such as real estate, capital goods , auto and banking which were trading in the negative territory in the early deals have remained almost unchnaged barring select banking and auto shares post the announcement of RBI monetary policy.

The Reserve Bank of India (RBI) kept the key rates unchanged. The repo rate was unchanged at 7.75% and the reverse repo rate at 6.75%. However, RBI has cut SLR by 50 basis points to 21.5%, effective February 7. he repo rate 25bp to 7.50% from 7.25%.

ICICI Bank, the country's largest private sector lender, said on Friday its consolidated net profit for the quarter ended December 31, 2014, rose 14 per cent from a year earlier to Rs 3,265 crore.

On a standalone basis, the net profit was up 14 per cent from a year before, at Rs 2,889 crore.

ICICI Bank chief Chanda Kochhar on Thursday said investors are looking for ‘continuous and quick decision-making’ as also for the capital investment plans of the government in various areas, including infrastructure.

Here to attend the World Economic Forum Annual meeting, Kochhar said everyone is also looking forward to the finalisation of the GST legislation and further steps to improve ease of doing business and enhance investments.

ICICI Bank, India’s largest private sector bank, on Monday announced the launch of banking services on Twitter, the first of its kind service, in India.

Christened, ‘icicibankpay’, enables ICICI Bank customers to transfer money to anyone in the country who has a Twitter account, check account balance, view last three transactions and recharge prepaid mobile “in a completely secure manner”.

Shareholders of Kotak Mahindra Bank today gave their approval to merge Bengaluru-based ING Vyaya Bank with itself.

At an extraordinary general meeting, shareholders of the Mumbai-based private bank approved the merger proposal. The exchange ratio has been fixed at 725 shares of Kotak with 1, 000 shares of ING Vysya.

Benchmark shares indices extended losses in late morning trade as heavy selling by foreign funds weighed on market sentiment.

At 11:30AM, the 30-share Sensex was down 152 points at 26,835 and the 50-share Nifty was down 40 points at 8,087.

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