The Reserve Bank of India has approved the amalgamation of Sangli Bank Limited with ICICI Bank Limited . The effective date of the amalgamation is April 19, 2007. The amalgamation has already been approved by the Boards of Directors and shareholders of both banks. The amalgamation is expected to be beneficial to the shareholders of both entities. ICICI Bank will seek to leverage Sangli Bank’s network of over 190 branches and existing customer and employee base across urban and rural centres in the rollout of its rural and small enterprise banking operations, which are key focus areas for the Bank.