ICICI Bank and Visa launch first USD-denominated debit card for NRI customers of GIFT City IBU

• Zero markup on USD transactions done on PoS and e-commerce with global acceptance
• Access to Visa Infinite privileges with advanced security controls

ICICI Bank, in partnership with Visa, announced the launch of India’s first USD-denominated debit card from its IFSC Banking Unit (IBU) at GIFT City, the emerging global financial and IT services hub in Gujarat. This milestone reinforces the Bank’s commitment to offer innovative global banking solutions for Non-Resident Indian (NRI) customers.

This first-of-its-kind debit card is linked to ICICI Bank’s USD Global Savings Account offered through the Bank’s IBU. Built on Visa’s premium Infinite platform, the card enables seamless global transactions and provides liquidity by allowing NRIs to access their USD savings in the bank account for usage worldwide at ATMs, PoS and e-commerce platforms. The launch marks a significant step in expanding secure, seamless, and premium offshore payment solutions for NRIs.

Speaking on the launch, Mr. Vipul Agarwal, Head – Cards and Payment Solutions at ICICI Bank said: “ICICI Bank has consistently focused on creating innovative banking solutions that caters to the evolving global financial needs of NRIs. As global mobility increases, NRIs often face currency conversion costs and fragmented international banking experiences. This USD‑denominated debit card represents an important step in providing customers with seamless access to their USD savings. Our collaboration with Visa enables us to combine global acceptance with premium security and service standards, while further strengthening GIFT City’s position as a leading international financial hub.”

Mr. Rishi Chhabra, Country Manager for India at Visa, added: “Visa is proud to partner with ICICI Bank to launch the first USD‑denominated debit card issued from GIFT City’s IFSC, built on our premium Visa Infinite platform. As cross‑border financial needs continue to grow, this solution enables Non‑Resident Indians to access and spend their US Dollar savings globally with greater convenience, transparency, and control. By leveraging ICICI Bank’s wide reach and Visa’s global network, we are supporting India’s vision of building world‑class financial infrastructure and expanding globally connected payment experiences from GIFT City.”

Key benefits of the debit card:

• Global usage:
• Zero markup on USD transactions at PoS and e-commerce worldwide. 
• Acceptable across domestic and international ATMs, PoS terminals and e-commerce platforms. 
• Multi-currency usability for seamless purchases across the globe. 
• Security and control:
• EMV chip-enabled technology compliant with regulatory standards. 
• Ability to enable/disable ATM, PoS, e-commerce and contactless usage through GIFT City Net Banking. 
• Option to set daily transaction limits for enhanced flexibility. 
• Exclusive privileges: Access to Visa Infinite privileges including exclusive offers from participating global brands and curated travel and lifestyle benefits

New and existing USD Global Savings Account holders with ICICI Bank are eligible for this debit card.

To know more about the card, please visit https://www.giftcity.icici.bank.in/faqs?ITM=nli_nriBanking_na_footer_2_CMS_customerServices_faqs_NLI

ICICI Bank’s IFSC International Banking Unit (IBU) at GIFT City offers various products for NRI customers including Global Savings Accounts in multiple currencies, fixed deposits, loan against deposits (LAD) and investments.

For more information on ICICI Bank’s offerings at GIFT City, please visit www.giftcity.icici.bank.in or contact your Relationship Manager.

Sold property? Deposit gains in ICICI Bank’s new account, save tax & earn interest

ICICI Bank today announced the launch of the Capital Gains Account Scheme (CGAS), enabling customers to deposit un-invested long term capital gains or sale proceeds from the sale of specified capital assets*. This facility allows them to avail tax exemptions* for up to three years while earning interest on deposited funds.

The launch follows the Government’s approval of ICICI Bank as an authorised institution to handle CGAS deposits.

Starting January 1, 2026, this scheme is available for Resident individuals and Hindu Undivided Families (HUFs). It will be available for non-individuals and NRIs shortly. It benefits taxpayers who are unable to reinvest long term capital gains before the Income Tax Return (ITR) filing deadline. Customers can open a Capital Gains Account by visiting their nearest ICICI Bank branch (except rural locations, as per CGAS rules).

An ICICI Bank spokesperson said, “We thank the Government of India for recognising ICICI Bank as an authorised institution for CGAS deposits. With this scheme, customers can park un-invested long term capital gains, earn interest, and claim tax exemptions, while planning reinvestment up to three years. This offering reinforces our commitment to deliver financial solutions that meet evolving customer needs.”

Key features & benefits of CGAS:

• Type A (Savings Account): Flexible withdrawals linked to approved reinvestment purposes
• Type B (Term Deposit Account): Cumulative or non-cumulative formats for fixed-tenure deposits. 
• Tax exemption: Deposit un-invested capital gains or sale proceeds before the ITR due date to claim exemption on long-term capital gains under relevant Income Tax sections. 
• Temporary parking of funds: Up to three years to plan reinvestment without losing exemption eligibility
• Interest earned: Similar to regular savings account or fixed deposits.
• Flexible reinvestment: Proceeds can be invested in property, agricultural land, or new capital assets of industrial undertaking in non-urban areas/ special economic zones depending on the CGAS chosen; withdrawal of proceeds requires proof of usage of funds. 

* Customers should consult their tax advisors for claiming tax exemption and for guidance on specified capital assets under CGAS.

ICICI Bank Introduces EMI Facility for UPI Payments by Scanning QR Code

Representative Image

• Customers can avail of the facility using PayLater, the Bank’s ‘buy now, pay later’ service
• First bank to offer such a facility
• Lakhs of customers of the Bank can opt for flexible EMIs of 3, 6 or 9 months

ICICI Bank has announced that it has introduced easy EMI facility for UPI payments made by scanning QR code. Customers eligible for PayLater, the Bank’s ‘buy now, pay later’ service can avail of the EMI facility in an instant, easy and seamless manner. This first-of-its-kind facility enhances affordability of lakhs of the Bank’s customers as they can now instantly buy products or services just by scanning the required merchant QR code at a store and making payments in EMIs.

The facility can be availed across a host of categories such as electronics, groceries, fashion apparels, travel and hotel bookings. Customers can pay transaction amount above ₹10,000 in easy instalments in three, six or nine months. The EMI facility for PayLater will shortly be extended for online shopping as well.

Talking about the new facility, Mr. Bijith Bhaskar, Head- Digital Channels & Partnership, ICICI Bank, said “We, at ICICI Bank, always aim at launching products and services to improve convenience of our customers and to provide unique solutions to address their evolving credit needs. We have seen that maximum payments these days are made through UPI. In addition, we have observed that customers are increasingly opting for UPI transactions from PayLater, the Bank’s ‘buy now, pay later’ service.

Combining these two trends, we are introducing the facility of instant EMI for UPI payments done through PayLater. With this facility, lakhs of our customers making UPI payments by scanning a merchant QR code can shop for mid to high value items and pay in easy EMIs. We believe, this facility provides immense convenience and improves affordability of our customers, as they can purchase high-value products on EMIs in a secure, instant and digital manner.”

ICICI Bank was the first bank to introduce PayLater facility in 2018 to enable customers to buy small ticket items immediately in a completely digital and paperless manner. PayLater facility enables customers to shop online, pay bills and pay to any merchant UPI ID at physical stores instantly.

Below are easy steps to avail the EMI facility on PayLater:

1. Visit any physical store and choose your preferred product or service
2. To make the payment, use iMobile Pay app and choose ‘Scan any QR’ option
3. Select PayLater EMI option if transaction amount is ₹10,000 or more
4. Select tenure among 3, 6 or 9 months
5. Just confirm the payment and the transaction is completed successfully

To know more about the PayLater facility, please visit https://www.icicibank.com/Personal-Banking/paylater.page.page?

For news and updates, visit www.icicibank.com and follow us on Twitter at www.twitter.com/ICICIBank

For media queries, write to: corporate.communications@icicibank.com

About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at ₹ 15,21,748 crore at December 31, 2022.

Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward - looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward - looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non - performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward - looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.go

ICICI Bank Offers Ecosystem Banking for Indian Startups

ICICI Bank today announced that it offers a comprehensive bouquet of digital and physical solutions to cater to all banking needs of startups across their various life stages. The Bank provides innovative solutions through its domestic and international network, and branch at GIFT City, the Gujarat-based emerging global financial and IT services hub.

The ‘Startup Ecosystem Banking’ proposition of the Bank offers treasury and transaction banking solutions, lending solutions, digital integrations, handling FDI and regulatory compliances, personal banking services for employees and founders.

ICICI Bank provides comprehensive solutions through its domestic network and international presence at New York, Toronto, London, Dubai, Singapore and Hong Kong. The ecosystem banking is further enhanced by the Bank’s presence at GIFT City.

Mr. Rajesh Rai, Business Head- West & South, Branch Banking, ICICI Bank 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.”

As part of the ‘Startup Ecosystem Banking’ the Bank has put in place a dedicated team for startups that serves them through an extensive network of branches.

At the GIFT City branch, the Bank offers digital opening of Global Foreign Currency Current Account (GFCCA) for overseas holding companies and subsidiaries of Indian startups. This can be done seamlessly within one working day of submission of required documents, which is significantly lower than the industry practise of at least five days.

The Ecosystem Banking further helps startups to open Special Non-Resident Rupee (SNRR) account as well as create deposits in both US Dollar and in Indian Rupee. The startups can also avail escrow, custody services and forex solutions for seamless and efficient capital flows.

The Bank also offers state-of-the-art digital channels namely Corporate Internet Banking (CIB), InstaBIZ mobile application, Trade Online for trade related transactions, Integrated Payment System platform to facilitate vendor and tax payments, and solutions for e-collections and e-mandates.

Further, the Bank offers an ‘API Developer Portal’, with over 250 APIs, enabling startups to co- create innovative customer solutions in a frictionless manner. It takes fraction of the time usually needed for digital collaboration, thereby significantly increasing productivity of startups.

To know more, startups can contact their Relationship Manager or write to startupecosystem@icicibank.com

To read more on the Bank’s offerings at its branch in GIFT City, visit www.giftcity.icicibank.com

For news and updates, visit www.icicibank.com and follow us on Twitter at www.twitter.com/ICICI Bank,

For media queries, write to: corporate.communications@icicibank.com

About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at ₹ 15,21,748 crore at December 31, 2022.

Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward - looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward - looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non - performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward - looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.go

Shivaami Cloud Services and ICICI Bank Collaborate to Launch Cloud Business Coupled with Transaction Banking API Solutions for Indian SMEs

Shivaami Cloud Services and ICICI Bank today announced their industry first collaboration to launch Cloud based products bundled with transaction banking API solutions in India. To broaden access to cloud technologies and help small and medium enterprises in India digitize, the solution provides a suite of Software-as-a-Service (SaaS) applications including Google Suite for communication and efficient collaboration among teams, Google Cloud Platform (GCP) for hosting and storage, FreshSales for effective customer relationship managements helping businesses interact with existing and potential customers, FreshDesk for providing customer support and FreshMarketer for Email Marketing. Along with these, businesses can streamline their accounting transactions by using API Banking services from ICICI Bank in a frictionless manner.

Companies can accelerate their growth and adopt the cloud way without putting a dent to their cash flow. Powered by API Banking services from ICICI Bank, they can easily integrate their ERPs where day to day transactions can be done in a secured and automated way with end to end instant reconciliations.

Punit Thakkar, Founder & CEO, Shivaami said, "Computing capabilities on the cloud are transforming the online business environment, enabling businesses to run faster, more efficiently and at a reduced cost. Driven on digital platforms, small and medium businesses hold a lot of opportunities to expand their services and improve everyday operations. Our partnership with ICICI Bank has helped us remain committed to providing the latest technology with an endeavor to fulfill customer needs and contribute to their growth journey."

Speaking on the initiative, Mr. Pankaj Gadgil, Head Self Employed Segment, ICICI Bank said, “At ICICI Bank we believe that ‘ease of doing business’ and ‘digitisation’ are the two growth enablers for the MSME businesses. Our tie-up with Shivaami is yet another initiative to enable our MSME customers to scale up their digitisation in a rapid and seamless manner. It offers ICICI Bank’s MSME customers access to attractively priced packages for availing world class cloud infrastructure services. This in-turn will help them to use the APIs available on the ICICI Bank Developer portal and rapidly add to their digitisation, without investing in setting up large IT infrastructure like physical servers. We believe that this access to new technology will help MSMEs improve their operational efficiencies, thereby accelerating themselves to grow and enhance their business.”

• G Suite: G Suite is an exclusive integrated suite of cloud tools that provide productivity and agility in business operations. It comprises Gmail, Drive, Docs, Calendar and more.


• Google Cloud Platform: Services and infrastructure that enable you to develop and deploy scalable applications and websites.


• Freshsales: A cloud-based customer relationship management (CRM) solution. It helps businesses manage their interactions with existing and potential customers. Key features include one-click phone, sales lead tracking, sales management, event tracking and more.


• Freshdesk: A cloud-based customer support software and helpdesk solution. It is a platform with a comprehensive set of tools and features to help businesses support all the needs of their customers. Companies around the world use it to deliver exceptional customer service and experience.


• Freshmarketer: An all-in-one conversion rate optimization platform from the Freshworks productivity suite. It is built to help businesses improve their online presence and boost lead conversions using robust marketing functionalities that focus on analytics.

ICICI Bank’s API Banking portal consists of 250 banking APIs (Application Programming Interfaces) which enables developers of prospective companies to seamlessly sign up on it, create an application, select the application, test it out and get the sample code. With this, businesses, fintechs, corporates and e-commerce start-ups can easily partner with the Bank and co-create innovative customer solutions in a smooth manner, all from the convenience of a single portal. The usage of ‘ICICI Bank API Banking Portal’ simplifies the process of digital collaboration for a company with the Bank and reduces the time taken to develop a business solution to a few days. This significantly raises productivity for partner companies. The portal hosts the maximum number of virtual APIs put together by any Indian Bank.