The article presents an order from the U.S. Federal Reserve Board (FRB) under the Bank Holding Company (BHC) Act approving the petition of the ICICI Bank Ltd. to establish a federal branch in New York City. Accordingly, the ICICI Bank has applied pursuant to section 7(d) of the International Banking Act (IBA). It is noted that the approval has come after the bank has complied with the necessary requirements.