Skip to content
Search

Latest Stories

ICICI Bank offers soon-to-be expats facility to open account before arriving in UK

ICICI Bank UK has unveiled a new facility in its mobile application, allowing Indians migrating to the UK to open an account while in India itself.

The Indian passport holders moving to UK for work will be able to open personal current account in the UK, equivalent to a savings account in India, through the ‘ICICI Bank UK iMobile’ application.


The bank claimed that the service is first-of-its-kind by an Indian bank in the UK.

“This unique proposition heralds a new era of opening an account in few minutes, a marked improvement over a few days taken earlier,” said Loknath Mishra, chief executive of ICICI Bank UK.

The completely digital procedure dispense with the requirement to visit a branch in UK. The customers can simply download the app and furnish all KYC details electronically. The account will be instantly activated, allowing customers to start transacting immediately.

Customers will receive a contactless debit card at their correspondence address either in UK or in India. They will also be able to remit money 24x7 instantly to any ICICI Bank account in India.

The app is available in both android and iOS platforms.

More For You

Deliveroo posts first annual profit after 12 years

A Deliveroo rider near Victoria station in London, England. (Photo by Dan Kitwood/Getty Images)

Deliveroo posts first annual profit after 12 years

FOOD DELIVERY app Deliveroo announced on Thursday (13) its first annual profit as orders and revenue rose, while the 12-year old company sees further growth despite exiting Hong Kong.

The milestone follows sizeable full-year losses owing to high investment costs since American Will Shu founded the company in 2013 and made Deliveroo's first delivery in London.

Keep ReadingShow less
JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less