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ICICI Bank’s first Chinese branch inaugurated in Shanghai

ICICI Bank’s first branch in China was inaugurated in Shanghai, a major global financial hub. It was inaugurated by Prime Minister Narendra Modi in the presence of ICICI Bank’s MD and CEO Chanda Kochhar. The new branch will begin its operation with 17 banking professionals handling different functions including finance, operations, corporate banking and treasury. Apart from it, this branch will also play important role in the growing trade and investment opportunity between India and China. It should be noted that ICICI Bank’s Shanghai Branch had received the formal regulatory approval in March 2015 to commence operations. Currently ICICI Bank is India’s biggest private sector lender with a total consolidated asset base of US $ 132 billion and has presence in 17 countries.  Earlier in 2003, ICICI Bank had opened a representative office in China.

UN adopts resolution to strengthen relief efforts in earthquake hit Nepal

United Nations (UN) has adopted a resolution in order to call attention of international community to urgently assist Nepal and help rebuild the country after it was hit by devastating earthquake. The resolution was led by India and was co-sponsored by 65 other nations including Bangladesh, Afghanistan, Australia, Japan, China, Germany, Sri Lanka, Nepal, Pakistan UK and the US. It was adopted by consensus at the United Nations during a special 193-member General Assembly session. In the resolution UN has appealed to help raise US $ 423 million over the next three months in order to meet essential needs of Nepal earthquake survivors. The relief funds collected help rebuild the country and support the victims of the massive 7.8 magnitude quake that had struck Nepal on 25 April 2015 in which more than 8,200 people died.

6th edition of National Conference on Nuclear Energy held in New Delhi

Sixth edition of National Conference on Nuclear Energy held in New Delhi. The theme of this edition was Nuclear Energy: a Clean Energy option. It was organized by Associated Chambers of Commerce and Industry of India (ASSOCHAM), one of the apex trade associations of India. The conference discussed the issue related to the status of Nuclear Energy in India. Apart from it various issues were also discussed including on nuclear energy to the decarbonisation of power sector, Climate change & the future of nuclear energy, nuclear energy expansion & Make in India.

Arun Shrivastava assumes charge as Syndicate Bank MD and CEO

Arun Shrivastava assumed charge as Managing Director & CEO of Syndicate Bank. He was Executive Director of Bank of India, looking after Finance, Strategy & Planning, Large Corporate & Mid Corporate Business, Corporate Debt Restructuring, Project Finance & Syndication, Credit Monitoring & Asset Recovery, Publicity & Public Relations portfolios of the bank. Earlier, Shrivastava was overseeing the foreign subsidiaries – BoI Indonesia and Botswana and joint venture – India Zambia Bank. He is a Certified Associate of Indian Institute of Bankers and AIBM. He started his career as direct recruit officer in Bank of Baroda in 1979.