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Jaipur to be ICICI’s northern hub

K.V. Kamath

JAIPUR: For ICICI Bank chief K.V. Kamath it was a special day at the partnership summit, “Resurgent Rajasthan” here on Friday. Adjudged as Forbes Asia Businessman of the year 2007 a day before in Hong Kong by Forbes, he was given a standing ovation at the opening session. Chief Minister Vasundhara Raje, who congratulated him for the achievement, also expressed happiness over the timing of the good tidings.

Accolades or not, Mr. Kamath, who was sharing the dais with Ms. Raje, had come beforehand to the Pink City with a string of announcements on the ICICI Bank, the country’s largest private sector bank, for Rajasthan.

“We have decided to locate the northern hub of ICICI at Jaipur. This will be a hub with 2,000 persons and an initial investment of Rs.500 crore. At the initial stage itself there will be 1,000 persons at this hub,” said Mr. Kamath, who appreciated the transformation of Jaipur into a city of well-groomed looks.

“It is not a Resurgent Rajasthan alone. I see a resurgent Jaipur as well. It is transforming both the city and the State,” Mr. Kamath said appreciating the beautification of the historic city.

Quoting a recent World Bank report, he noted that Jaipur is ranked as the third best city in South Asia to do business. He advised the State to concentrate more on the rapidly growing service sector.

Mr. Kamath said ICICI Bank would open a branch in each of the 32 districts in Rajasthan in the next three months. The Bank has also entered into an understanding with 20 colleges in the State to start courses in banking and financial services.

“It is heartening to note that ICICI Bank has decided to set up its northern regional hub at Jaipur,” said Ms. Raje welcoming ICICI Bank as a partner in development of a new Rajasthan.

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