Indian private sector lender ICICI Bank has announced ‘Startup Ecosystem Banking’ to offer digital and physical solutions to cater to the banking needs of startups.

The bank’s startup proposition includes lending solutions, treasury and transaction banking solutions, digital integrations, handling FDI and regulatory compliances, and personal banking services for founders and staff.

As part of the initiative, the lender has put in place a dedicated team that will cater to startups via the bank’s network of branches.

ICICI Bank business head- West & South, branch banking Rajesh Rai said: “India has emerged as the third largest startup ecosystem in the world, underlining the country’s vibrant and innovative startup culture. At ICICI Bank, we offer improved convenience to these new-age businesses through agile and technology-led solutions across their life stages.

“Through our comprehensive ‘Startup Ecosystem Banking’, we support the emerging requirement of Indian startups and aim to become the preferred bank of choice in their growth journey.”

For overseas holding corporations and subsidiaries of Indian startups, the bank will facilitate the digital opening of Global Foreign Currency Current Accounts (GFCCA) at the GIFT City branch, which is in the state of Gujrat.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Startups can also open Special Non-Resident Rupee (SNRR) accounts and make deposits in both US dollars and Indian rupees under the new initiative, besides accessing escrow, custody, and FX services.

Furthermore, the bank provides an “API Developer Portal” with over 250 APIs, allowing companies to collaborate on client solutions.