Sangli bank customers get upgraded products and services from ICICI bank

Sangli bank has merged with ICICI Bank, the country's most valued lender amongst the private sector banks. The bank will be providing its upgraded products and services to Sangli Bank customers following a merger.

ICICI Bank said in an advertisement the upgraded products and services will be provided at selected Sangli Bank branches. ICICI bank has asked the Savings Bank-account holders of Sangli Bank to update their accounts by filling up a 'Product Upgrade Form' by March 20.

"If the bank accounts are not upgraded by the customer, it will automatically get converted to 'ICICI Bank No Frills' Savings account," ICICI Bank said.

Before in April 2007, the Reserve Bank of India had permitted the merger of Sangli Bank with the country's largest private sector lender - ICICI Bank - after that all the branches of Sangli Bank started operating as ICICI Bank.

After completing of all-stock merger of the Maharashtra-based bank with the ICICI Bank, the country's biggest lender and blue-chip stock wanted to control on Sangli Bank's network of over 190 branches and existing customer base across urban and rural centers.

Shares of ICICI Bank were trading at Rs 1,419, down 1.45 per cent in the afternoon trading session on the Bombay Stock Exchange.