*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at email@example.com to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
15th Oct 16 ICICI Bank tests blockchain transactions
ICICI Bank has done successful execution of its first two transactions using blockchain technology. Now other private sector banks are gearing up for the technology. Axis Bank and Kotak Mahindra Bank are conducting pilot transactions in trade settlements and cross border remittances, while HDFC is still assessing the opportunity.
12th Oct 16 ICICI Bank uses blockchain technology
ICICI Bank has partnered with Emirates NBD to execute transactions in global remittances and trade finance using blockchain technology. ICICI Bank has used blockchain technology to transfer funds as well as trade documents related to purchase order, shipping and insurance, invoice, electronically in real time. ICICI Bank has also partnered with Infosys EdgeVerve Systems.
06th Oct 16 ICICI bank acquires 11 percent stake in ABG Shipyard, all lenders have 49 per cent
ICICI Bank acquired 11 per cent stake in ABG Shipyard by converting their debt into equity. Now the total stake of the lenders is 49 per cent. Others lenders such as State Bank of India and Punjab National Bank have 7 per cent stake each by converting debt into equity.
05th Oct 16 ICICI Bank slashes the lending rates by 0.5 bps from 9.10 to 9.05 per cent
With the decision of RBI to lower the repo rate by 25 bps, second largest private sector lender ICICI bank also lowered the MCLR by 5 bps. Effective from 1st October, 2016, the one month MCLR will be 8.85 percent against 8.90 per cent, on the other hand the one year MCLR which is generally used to compute some of the products such as personal loans will be 9.05 percent as against 9.10 per cent.
01st Oct 16 Only 5 per cent transactions are done at ICICI bank branch, Digital channels accounts 60 per cent.
Only 5-6 per cent ICICI bank transactions are done at bank branch, 60 per cent are done through digital channels including Mobile banking, net banking and pocket app. On June 30, the online transactions accounts were 64.9 per cent digitally while ATM transactions were 23.6 per cent. Meanwhile SBI says that 78 per cent of their transactions are done digitally.