Mobility paves Samsung’s silver path
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Within six months, the country’s largest private sector lender ICICI Bank plans to launch a new app that will allow a customer to not only apply for a home, auto or personal loan via the mobile phone but also receive sanction on the device.
All retail loans
“Like (on) our mobile banking app, we are looking at ways and means to offer more asset solutions. It includes all types of retail loans. It will go through a normal sanction process,” said Rajiv Sabharwal, Executive Director, ICICI Bank.
The bank is looking at all digital solutions for peddling retail loans. In six months, hopefully the customer himself or with some help will be able to apply (for a loan) on the mobile and get it sanctioned (too), Sabharwal added.
There will be no need for the borrower to visit the branch. The disbursal will be directly made to the property developer or other vendor, he added.
Amid the race to gain market share, banks are using technology to stay ahead of the curve by building more digital banking products to attract the large young and tech-savvy population in the country.
ICICI Bank’s digital focus, especially mobile banking, has helped it with 61 per cent of total savings account customers transacting on the digital platform (Internet and mobile) and less than 10 per cent through branches.
Chanda Kochhar, ICICI Bank’s MD and CEO, in a post-results conference call with the media, said, “We had a market share of 32 per cent in mobile banking as in June 2015.”
The bank has plans to grow mobile banking transactions to ₹80,000 crore by end of this fiscal.
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Antrix should adopt a different tactic than merely fighting over jurisdiction: Experts
Invest in relationships, enterprise, behaviour, effort and learning
From different types of osmoses to new membranes, researchers have come up with ways of drawing water
High valuation and stiff competition from larger players are a dampener
Investors with a short-term perspective can buy The New India Assurance Company (NIACL) stock at current ...
₹1490 • HDFC Bank S1S2R1R2COMMENT 1475146015051520 Fresh short positions are recommended with a stiff ...
Will a stock continue its current trend or will it reverse? We tell you how you can read chart patterns to ...
What makes the new crop of young Indian cricketers such game-changing winners? Over and above their talent, ...
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
‘You ready to go to work?’ Joe Biden had asked Kamala Harris before naming her as his running mate. ‘Oh my ...
Writer Narendra’s latest book, rich with vignettes from Bastar and his native village in Uttar Pradesh, ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor