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The case examines the process of change management at ICICI after Kamath took over the control of ICICI and following the ICICI Bank and Bank of Madura (BoM) merger. The case reveals the importance of change management and how effective management of change brings out best results from the employees. The case is so structured as to enable students to understand the important aspects of change management. Students should essentially be able to: (1) understand a major restructuring strategy, its reasons and rationale undertaken at ICICI; (2) discuss the various initiatives of ICICI to manage the major changes throughout the organisation; (3) to evaluate the effectiveness of change management practices adopted by Kamath; and (4) to gain an insight into the change management policies adopted by ICICI in merging BoM with ICICI Bank smoothly. The case is aimed at the MBA/PGDBA students as part of the IT and systems curriculum.