ICICI floats 'Infinite India' platform to help MNCs set shop in country

Private sector lender ICICI Bank has set up on-line platform “Infinite India” to provide banking and other valued services to foreign companies for setting up or expanding business in the country.

Apart from banking solutions like trade finance and treasury services, the platform will offer services like incorporation of a business entity, corporate filings, licences and registrations, HR services, compliances and taxation among others.

As an ‘Authorised Dealer Category 1’, the bank can authorise the setting up of liaison offices (LO), branch offices (BO) as well as a project offices, within the regulatory framework.

Typically, the foreign entities need to spend a lot of time and bandwidth to reach out to individual service providers in order to take care of matters which are not related to the core of businesses. With ‘Infinite India’, they get the convenience of a single-point access to a host of services at an attractive price.

The on-line platform eliminates the need of co-ordinating with multiple touchpoints leading to a hassle-free experience of doing business in India, ICICI Bank said in a statement.

These technology-enabled-services are aimed at strengthening the bank’s position in the MNC segment. The services will be driven by a dedicated team of relationship specialists.