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ICICI Bank has partnered with Flipkart to offer an instant and digital overdraft (OD) facility of up to ₹25 lakh to individual sellers and businesses registered on the e-commerce platform.
“Enabled by API integration, the partnership helps sellers to avail an OD from the Bank instantly in a process-from application to sanction to disbursement- that is entirely digital,” the bank said in a statement.
Also read: ICICI Bank bets big on digital banking, tech initiatives
Customers of any bank can avail of ODs from ICICI Bank if they are registered as sellers with Flipkart, it further said.
Sellers having a current account with ICICI Bank can immediately start using the OD to meet their working capital requirements.
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