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ICICI offers instant home loan sanction

ICICI offers instant home loan sanction

Finance
ICICI Bank has introduced digital home loans and top-ups where customers can get an instant sanction and disbursement, subject to the borrower’s eligibility. The bank would deploy employees with devices in sourcing locations to enable a customer to fill in the details and obtain an instant sanction or get a top-up loan in their account immediately. “When we have already done a credit scoring of the customer and his bank statements and estimation of income, what value addition a personal interaction can do? We don’t want them to wait for an income statement and then obtain a bank statement printout from our branch and hand it over to the home loan department,” said ICICI Bank ED Anup Bagchi. He added that the value addition can come from helping the customer in finding property from among t
ICICI Pru Mutual Fund launches Bharat Consumption Scheme

ICICI Pru Mutual Fund launches Bharat Consumption Scheme

Finance
ICICI Prudential AMC announced launched the ICICI Prudential Bharat Consumption Scheme. The Scheme aims to benefit from the Indian consumption story, considered as one of the fastest growing consumption markets globally. The benchmark for the Scheme is Nifty India Consumption Index and will be managed by Rajat Chandak and Dharmesh Kakkad. The overseas investments of the scheme will be managed by Priyanka Khandelwal. "Globally, it has been observed that the moment a country’s per capita GDP crosses $ 2,000*, there is a disproportionate rise in discretionary spending and India is poised to cross this milestone in 2019-20,” Nimesh Shah, MD & CEO, ICICI Prudential AMC, said on the launch of the scheme. “With the largest millennial population globally, India offers a growt...
ICICI Lombard, MobiKwik join hands to provide cyber-insurance cover of Rs 50,000

ICICI Lombard, MobiKwik join hands to provide cyber-insurance cover of Rs 50,000

Finance
NEW DELHI: ICICI Lombard and Mobikwik Monday announced a partnership to offer cyber-insurance cover of Rs 50,000 to protect against online frauds. General insurer ICICI Lombard and digital financial services platform Mobikwik said the partnership aims to provide protection against unauthorised and fraudulent transactions online, across bank accounts, debit/credit cards and mobile wallets. The cyber-insurance can be availed digitally through an app at only Rs 99 per month and with a sum insured of Rs 50,000, said a release. MobiKwik users can avail the 'Commercial Cyber Insurance' policy underwritten by ICICI Lombard and enjoy the benefit of a stress-free and secured transaction for its users who opt for this cover, it added. "This relationship with MobiKwik further strengthens ICICI Lombar...
ICICI Pru Mutual Fund launches ICICI Prudential Retirement Fund

ICICI Pru Mutual Fund launches ICICI Prudential Retirement Fund

Finance
ICICI Prudential Mutual Fund has launched ‘ICICI Prudential Retirement Fund’, an open ended retirement solution oriented scheme having a lock-in of five years or till retirement age (whichever is earlier). The NFO will open on February 07 and will close on February 21. “The best time to plan for your retirement is when you are young and working. Investing in a long-term mutual fund schemes enable in building a good retirement corpus. It also gives flexibility of Systematic Withdrawal Plan (SWP) to meet regular cash flow needs, post retirement,” says Nimesh Shah, MD & CEO, ICICI Prudential AMC. “Mutual fund is a long-term vehicle to plan for retirement. With costs of living, medical expenses and inflation rising with each passing year, it has become important to plan
Sandeep Bakhshi: Meet the man who replaces Chanda Kochhar as ICICI Bank's new CEO

Sandeep Bakhshi: Meet the man who replaces Chanda Kochhar as ICICI Bank's new CEO

Finance
ICICI Bank has appointed Sandeep Bakhshi as the new Managing Director (MD) and CEO after Chanda Kochhar quit the bank. The bank accepted Kochhar's early retirement and appointed Bakshi in her place. Bakhshi held the position of the COO of ICICI Bank. He was put at the helm by the board after it asked Kochhar to go an extended leave pending an internal investigation into charges of impropriety in her role in the Videocon loan case. Who is Sandeep Bakhshi?This is not the first time that Bakhshi has been asked to handle a crisis. In 2008, Bakhshi was brought in by the bank from ICICI Lombard as the bank was fighting rising delinquencies. After he deftly handled the crisis, Bakhshi was put in charge of ICICI Prudential Life in 2010. Bakshi's leadership saw ICICI Prudential's Assets under Manag...