BANKING AFFAIRS

Detailed explanation-1: -Mumbai: ICICI Bank, the country’s largest private sector bank, announces the launch of EMI (Equated Monthly Instalments) facility on debit cards to enable its customers to convert their high value transactions into easy instalments. The Bank is the first in the country to introduce this facility.

Detailed explanation-2: -ICICI Bank is the first in the country to introduce this facility.

Detailed explanation-3: -ICICI Bank’s debit card EMI facility allows its customers to make bigger purchases even if they do not have enough funds in their accounts. With this facility, customers can opt to make repayments in flexible tenures of 3, 6, 9 and 12 months.

Detailed explanation-4: -ICICI Bank was the first to introduce a debit card in India.

Detailed explanation-5: -ICICI Bank is the first in the industry to introduce instant EMI facility on its internet banking platform. The Bank has tied up with BillDesk and Razorpay, leading online payment gateway companies to offer this facility.