Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    SIDBI joins hands with TDB to support MSMEs

    December 1, 2023

    Quickwork raises $2.5 mn in funding round led by DMI Sparkle Fund to democratise enterprise automation

    November 21, 2023

    Radiant Cash Management Services announces foray into fintech with the acquisition of Acemoney

    November 21, 2023
    Facebook Twitter Instagram
    BFSINXT
    Twitter YouTube LinkedIn
    • Banking
      • SME /Wholesale Banking
      • Retail
      • HR
        • Wholesale
      • Rural & Agri
    • NBFC
      • Customer Experience
      • Retail
      • Digital
    • Insurance
      • Life
      • General
      • InsurTech
    • Fintech
      • Payments
      • Lending
      • Wealth/PF
      • Neo-Banking
    • Policy
      • RBI
      • IRDAI
      • SEBI
      • Government
    • Financial Services
      • Securities
      • AMC
    • About us
      • Editorial Team
      • Our Advisory Panel
      • Get In Touch
    BFSINXT
    Home » ICICI Bank offers Ecosystem Banking for Indian Startups
    Banking

    ICICI Bank offers Ecosystem Banking for Indian Startups

    Rajesh Rai, Business Head- West & South, Branch Banking, ICICI Bank said, “India has emerged as the third largest startup ecosystem in the world, underlining the country’s vibrant and innovative startup culture. At ICICI Bank, we offer improved convenience to these new-age businesses through agile and technology led solutions across their life stages. Through our comprehensive ‘Startup Ecosystem Banking’, we support the emerging requirement of Indian startups and aim to become the preferred bank of choice in their growth journey.” 
    April 1, 20233 Mins ReadBy Bfsinxt Desk
    Twitter LinkedIn WhatsApp

    ICICI Bank recently announced that it offers a comprehensive bouquet of digital and physical solutions to cater to all banking needs of startups across their various life stages. The Bank provides innovative solutions through its domestic and international network, and branch at GIFT City, the Gujarat-based emerging global financial and IT services hub. 

    The ‘Startup Ecosystem Banking’ proposition of the Bank offers treasury and transaction banking solutions, lending solutions, digital integrations, handling FDI and regulatory compliances, personal banking services for employees and founders, the bank said in a press release. 

    ICICI Bank said it provides comprehensive solutions through its domestic network and international presence at New York, Toronto, London, Dubai, Singapore and Hong Kong. The ecosystem banking is further enhanced by the Bank’s presence at GIFT City.

    Rajesh Rai, Business Head- West & South, Branch Banking, ICICI Bank said, “India has emerged as the third largest startup ecosystem in the world, underlining the country’s vibrant and innovative startup culture. At ICICI Bank, we offer improved convenience to these new-age businesses through agile and technology led solutions across their life stages. Through our comprehensive ‘Startup Ecosystem Banking’, we support the emerging requirement of Indian startups and aim to become the preferred bank of choice in their growth journey.” 

    As part of the ‘Startup Ecosystem Banking’ the bank said it has put in place a dedicated team for startups that serves them through an extensive network of branches.

    At the GIFT City branch, the Bank offers digital opening of Global Foreign Currency Current Account (GFCCA) for overseas holding companies and subsidiaries of Indian startups. This can be done seamlessly within one working day of submission of required documents, which is significantly lower than the industry practise of at least five days, ICICI Bank said in a statement. 

    The Ecosystem Banking further helps startups to open Special Non-Resident Rupee (SNRR) account as well as create deposits in both US Dollar and in Indian Rupee. The startups can also avail escrow, custody services and forex solutions for seamless and efficient capital flows.

    The bank further said it also offers state-of-the-art digital channels namely Corporate Internet Banking (CIB), InstaBIZ mobile application, Trade Online for trade related transactions, Integrated Payment System platform to facilitate vendor and tax payments, and solutions for e-collections and e-mandates.

    Further, the bank said it offers an ‘API Developer Portal’, with over 250 APIs, enabling startups to co- create innovative customer solutions in a frictionless manner. It takes fraction of the time usually needed for digital collaboration, thereby significantly increasing productivity of startups.

     

    ICICI Bank
    Previous ArticleIntellect launches eMACH.ai, an Open Finance Platform to empower banks to design and operate tech-solutions
    Next Article L&T Finance launches Warehouse Receipt Financing
    Bfsinxt Desk

    Related Posts

    SIDBI joins hands with TDB to support MSMEs

    December 1, 2023

    Zype expects to increase its loan book size to 500 Cr within the next 12 months

    November 2, 2023

    Jana Small Finance Bank and Manipal Academy of BFSI together launched ‘Aspiring Bankers Program’

    November 2, 2023

    RBI announces names of third cohort on MSME lending

    October 30, 2023

    Leave A Reply Cancel Reply

    Recent Posts

    • SIDBI joins hands with TDB to support MSMEs
    • Quickwork raises $2.5 mn in funding round led by DMI Sparkle Fund to democratise enterprise automation
    • Radiant Cash Management Services announces foray into fintech with the acquisition of Acemoney
    • PhonePe crosses 500 million lifetime registered users, rejigs top brass
    • Zurich Insurance to acquire 51% stake in Kotak General Insurance for ₹4,051 crore

    Recent Comments

    No comments to show.
    Demo
    NBFC's

    SIDBI and GAME launch NGAP – accelerator for small NBFCs

    October 19, 2023

    Manappuram Finance inks MoU with JCB India

    October 16, 2023

    Satin Creditcare appoints Bhuvnesh Khanna as President of Satin Finserv Limited

    July 25, 2023

    Shriram Housing Finance Ties up with DocOnline to Offer Healthcare Benefits to Customers

    July 25, 2023
    New Policy
    Policy

    Reserve Bank of India opens Sub-office in Itanagar, Arunachal Pradesh

    October 23, 20230By Bfsinxt Desk

    On October 20, 2023, Dr. Michael Debabrata Patra, Deputy Governor, Reserve Bank of India (RBI), inaugurated…

    GSTN gets included as a Financial Information Provider under Account Aggregator Framework

    November 23, 2022

    RBI to run Nation-wide Finanical Services Awareness Programme in November 2022

    November 3, 2022

    RBI to soon operationalise CBDC Wholesale (e₹-W) Pilot

    November 1, 2022
    • Twitter
    • YouTube

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    BFSINXT
    Twitter YouTube LinkedIn
    © 2023 bfsinxt.com.

    Type above and press Enter to search. Press Esc to cancel.