PR87370

MUMBAI, India, Dec. 22, 2020 /PRNewswire=KYODO JBN/ --

- The platform offers banking as well as value-added services

- First bank in India to offer such facilities

    ICICI Bank announces the launch of an online platform for foreign companies

looking to establish or expand business in the country. Called 'Infinite

India', the platform offers them banking solutions as well as value-added

services such as incorporation of a business entity, corporate filings,

licences and registrations, HR services, compliances and taxation among others.

An industry-first initiative, the 'Infinite India' platform offers significant

convenience to foreign companies, as it eliminates the need of co-ordinating

with multiple touchpoints leading to a hassle-free experience of doing business in India.

    The 'Infinite India' initiative is a part of the host of technology-enabled-services that

the Bank is offering to foreign companies/MNCs coming to India.

These technology-enabled-services are aimed at strengthening the Bank's position

in the MNC segment, an important area. Driven by its dedicated team of relationship

specialists, a comprehensive suite of technology-enabled services and leveraging on

its global footprint to drive India-linked business, ICICI Bank will continue to build

strong relationships with MNCs in India.

    Commenting on the launch, Ms. Vishakha Mulye, Executive Director, ICICI

Bank said, "Over the years, India has emerged as a preferred destination for

foreign investment. We believe that a young demographic profile, strong

consumer demand and supportive Government initiatives has boosted India's

economic outlook significantly. Also, India's position in the World Bank's

survey on 'ease of doing business' improved significantly over the past few

years, attracting foreign companies to set up operations here.

    In these improved scenario, we are launching the 'Infinite India' portal,

that brings together various banking and value-added services on one platform

for foreign companies. It frees up their bandwidth from time-taking procedures

and thus boosts their business growth by improving overall productivity and

efficiency. The initiative of 'Infinite India' portal is part of our strategy

to further strengthen our technology-enabled offerings aimed to partner with

foreign companies coming to India. We believe that our dedicated strategy for

this segment will further simplify the journey of foreign companies looking to

start or expand their business in India."

    Value-added offerings: The foreign companies get end-to-end services

ranging from advisory to getting connected with subject matter experts, who in

turn help the companies to incorporate a business entity, corporate filings,

licences and registrations, HR services, compliances and taxation among others.

These value-added services are now available in association with a a leading

cloud based business accounting and corporate services firm. The Bank will

induct more partners on board in order to expand its bouquet of services on the platform.

    Banking services: The Bank provides a wide range of products and services

that cover the entire range of the financial space, to cater to every banking

need of a foreign entity. The offering spreads across corporate banking,

personal banking, treasury operations, trade services, digital channels-

internet banking and mobile application, API integrations, customised current

account with a dedicated manager and authorise set-up of office among many

other banking services.

   Any multinational from across the globe, from any industry including IT,

ITES services, manufacturing, pharmaceuticals, automotive, textiles can visit

the 'Infinite India' portal, http://www.icicibank.com/infiniteIndia and apply

for a service required by them.

   For media queries, write to: corporate.communications@icicibank.com

   For boiler plate and disclaimer, visit:

https://www.icicibank.com/managed-assets/docs/about-us/2020/boiler-plate-and-disclaimer.pdf

   Logo: https://mma.prnewswire.com/media/1390094/ICICI_Bank_Logo.jpg

   Source: ICICI Bank