ICICI Bank launches new digital platform for MSMEs
Posted on 18th July 2019 |
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| India's second-largest lender ICICI Bank has launched a new digital platform for micro, small and medium enterprises (MSMEs) and self-employed customers to enable them to undertake their business banking transactions digitally. Called, 'InstaBIZ', it allows customers to avail as many as over 115 products and services in a digital and secure manner on their mobile phone or internet banking platform. It will enable them to get an instant overdraft facility (up to Rs 15 lakh) and business loans, easy bulk collection and payments of funds through multiple digital modes, automatic bank reconciliation and undertake largely all of the export-import transactions such as inward and outward remittances and enable instant payment of GST using the challan number in a single click payment. MSMEs, which are not customers of the bank, can also download 'InstaBIZ. They can also apply for a current account and customise its account number, which is displayed instantly. "The MSME and self-employed segment in India employs the largest workforce and is the backbone of our economy. We believe that 'ease of doing business' and 'digitisation' are key parameters for the growth of the MSME businesses. To this endeavour, we have launched 'InstaBIZ', the country's first digital platform for entrepreneurs available as a mobile app and web portal, said Pankaj Gadgil, head - self employed segment, ICICI Bank. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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