- The platform offers banking as well as value-added services
- First bank in India to offer such facilities
MUMBAI, India, Dec. 22, 2020 /PRNewswire/ — 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.
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