ICICI Bank is emerging as a strong challenger for long-time leader HDFC Bank in India’s credit card market, thanks to strong take-up for its co-branded card with Amazon, according to an analysis of RBI’s January numbers. ICICI Bank accounted for 2.41 lakh of the 13 lakh new credit cards added in January 2022. With this, […]
ICICI Bank’s Pockets wallet has become the first financial institution in India to be permitted to offer UPI IDs in its own name and make transactions directly without routing it via a bank account. So far, UPI IDs were reserved only for those who have an account with any recognized Indian bank, including co-operative banks. […]
India’s largest smartphone maker Xiaomi has launched Mi Pay, its payment service, in India, marking the first time the service has been expanded beyond its home market of China. The company will use the National Payment Corporation of India’s UPI and Bharat Bill payment network for its core functionality. The company has tied up with […]
ICICI Bank said it did not ask its managing director, Chanda Kochhar, to go on leave nor has it appointed any search committee to find her successor. “She is on her annual leave which was planned in advance,” it said in response to media queries. The bank’s stock has been trading up by about 2.5% […]
The ongoing allegations around the sanction of a loan by ICICI Bank to the Videocon Group and the bank’s reluctance to support an independent probe into the matter has created doubts about the bank’s internal governance standards, global ratings agency Fitch said. “..the presence of the bank’s CEO on this credit committee – and the […]
ICICI Bank said it has priced the initial public offer of its broking arm ICICI Securities at Rs 520 per share. The offer for sale was open to subscription from March 22 to March 26 with a price band of Rs 519 to 520. At Rs 520, the IPO will raise Rs 3,515 cr, the […]
ICICI Bank said it raised international debt $500 mln at an interest cost of 3.8%. “The notes carry a coupon of 3.80% and were offered at an issue price of 99.728,” India’s second biggest private sector bank said. The sale of the 10-year bonds was done through its DIFC branch in UAE. The notes were […]
ICICI Bank, one of India’s top banks, said it has decided to list its equity broking arm ICICI Securities. “The board of directors of the bank today approved the sale of a part of its shareholding in ICICI Securities Ltd in an initial public offering by the company, subject to requisite approvals and market conditions,” […]
ICICI Bank said the initial public offer of its insurance unit ICICI Lombard is priced at Rs 661 per share. The total amount to raised will Rs 5,701 cr. The initial price band was Rs 651-661. The IPO comprises the shares that are being sold by ICICI Bank and FAL Corporation in the insurance company, […]
Customers of PayTM, India’s largest wallet service can now make payments using the Unified Payments Interface, the government of India’s open payments platform. The company has signed up with ICICI Bank be able to receive payments from its customers who are on the UPI platform using its ID ‘paytm@icici’. However, customers cannot simply transfer the money to […]
Snapdeal-owned FreeCharge has tied up with ICICI Bank’s Merchant Services, which will allow consumers to pay their bill at over 1 Lakh ICICI stores with their Freecharge accounts. These merchants are located at across 700 cities and towns in India, the company said. “FreeCharge’s partnership with ICICI Merchant Services, powered by First Data, will ease […]
While nearly all the major banks with the exception of SBI and HDFC have come up with UPI apps for regular users, ICICI Bank has gone a step further by bringing out an app specially dedicated to merchants. The app requires a current account with ICICI Bank to operate, and any small merchant or shopkeeper […]
ICICI Bank Chief Executive Officer Chanda Kocchar today said the Reserve Bank of India’s currency chests have enough cash and there is no situation of scarcity for banks in securing notes. Kocchar also said that all banks including hers are bringing more and more ATMs into working mode after a change in currency put most […]
ICICI Bank said it has tied up with Hindustan Petroleum Corporation Ltd and Aditya Birla Fashion and Retail Limited to offer UPI based payments their retail outlets. The bank also said it has become the first in India to have 1 lakh registered virtual payment addresses under the platform. UPI, or unified payment interface, is […]
ICICI bank, an Indian multinational banking and financial services company, said its shareholders will get a reservation of 18.13 lakh shares in the upcoming initial public offering of its subsidiary ICICI Prudential Life Insurance. Only individual shareholders will be eligible for this reservation. On September 8, the private sector bank had said that it is […]
ICICI Bank, one of India’s largest private sector banks has started registering new, user-friendly usernames on its mobile app as part of the UPI advanced payment platform of the government of India. The usernames are in the format name@icici and can be registered by ICICI mobile app users and those who use its Pockets payment app. The process […]
ICICI Bank, India’s largest private sector bank, introduced a new product — ICICI Bank Saral-Rural Housing Loan — which will carry only the bank’s base interest rate. “Applicants from rural areas including women borrowers as well as seekers from weaker sections can now avail home loans at the ICICI Bank Base Rate which is currently […]
ICICI Bank Ltd, India’s biggest private sector bank, reported a 14% year-on-year increase in consolidated profit after tax to Rs 3,232 crore (US$ 508 million) for the quarter ended June 30, 2015 (Q1-2016) from Rs 2,832 crore (US$ 445 million) for the quarter ended June 30, 2014 (Q1-2015). Net interest margin improved to 3.54% in […]
ICICI Bank has upgraded its mobile banking app ‘iMobile’ by taking the total number of services that the users can avail of to over 100. The new app will help customers connect with the Bank’s call centre from within the app without any further authentication, withdraw cash from an ATM without using a card, tag […]
ICICI Prudential, India’s fifth biggest mutual fund by equity holdings, increased its cash holdings in May by selling most of its holdings in Bharti Airtel and much of its holdings in ONGC, Crompton Greaves, Cairn India, Hindalco and SJVN, publicly available numbers revealed. Mutual funds typically increase cash holdings when they expect share prices to […]
