ICICI Prudential AMC, a joint venture between ICICI Bank - one of India's foremost financial services companies, and UK-based Prudential plc - a leading international financial services group, has announced the launch of an open ended equity diversified fund, called the 'ICICI Prudential Target Returns Fund' in the Indian market.

The fund seeks to generate capital appreciation by investing predominantly in equity shares of the large market capitalization companies constituting the BSE 100 index.

Substantiating the December 2008 reports that some top-rung executives of ICICI Bank may quit after Chanda Kochhar's appointment as the new CEO and MD, two business chiefs - Renuka Ramnath ICICI Ventures' Managing Director and CEO; and Shikha Sharma, Managing Director of ICICI Prudential Life Insurance - are likely to put in their papers, sooner than later.

ICICI Home Finance, the housing finance arm of the largest private sector bank in the country, on Thursday began selling subordinated bonds to raise Rs 100 crore.

The latest move was taken by the company to meet its fund requirements.

According to company official, the amount is being raised as subordinated debt and carries a coupon rate of 9.75 per cent, payable annually. The issue will close on April 20.

ICICI Securities Primary Dealership, ICICI Bank and IDFC-SSKI are reported as arrangers to the deal.

Software services firm 3i Infotech Ltd. has entered into strategic partnerships with ICICI Lombard, Airtel and Max New York Life to offer a comprehensive range of services to rural consumers under the I-SERV brand.

It may be noted that through I-SERV stores, consumers especially in remote rural areas will get an access to a range of value added services that will improve their quality of life. These stores will deliver services related to Banking, Insurance, Mobile, Education, Ticketing and Utilities.

Health Saver is a new product launched by ICICI Prudential Life Insurance on this Monday. With the launch of this product now the consumers can afford their current healthcare expenses & can invest for their future health care needs. This product also gives tax benefits under section 80D on the entire premium paid.

The country’s largest private sector lender ICICI Bank has informed that it has entered into an agreement with BSNL Cell One to enable the latter's customers pay their bills through ICICI Bank's Web site.

Under the facility, the subscriber will be able to view their billing details on the Internet and pay accordingly by clicking a button. Their account will be debited for the billing amount and the proceeds shall be remitted to the BSNL.