‘iStartup 2.0’—ICICI Bank

Published on September 13, 2020
Current Context: In order to have a comprehensive banking programme for Indian Startups, ICICI Bank has launched a new product with the ‘iStartup 2.0’.
‘iStartup 2.0’—ICICI Bank 

  • The ‘iStartup 2.0’ will help the startups and entrepreneurs in the requirements like regulatory assistance, analytics, acquisition, staffing, accounting and digital platform for its customers and in all other banking and allied activities. 
  • The ‘iStartup 2.0’ will combine all businesses, trade and their related banking requirements under the one single platform of mobile or internet banking.
  • The initiative will offer customers with a current account in three variants namely, Platinum, Gold and Silver. 
  • The new businesses which are upto 10 years old, in or without partnerships, private or public limited companies and limited liabilities partnerships are eligible to open a current account under ‘iStartup 2.0’. 
  • On opening the current account under ‘iStartup 2.0’, the startups will be given with an account number instantly at the time of incorporation as ICICI Bank has integrated its APIs with the Ministry of Corporate Affair’s website. 
  • ‘iStartup 2.0’ will offer many startups with features like instant GST payments, easy bulk connections, payment option through multiple modes, automatic bank reconciliation and inward or outward remittances among others.
  • Static Part: 
    • HQ of ICICI Bank: Mumbai
    • Tagline of ICICI Bank: Hum Hai Na, Khayal Aapka
    • MD and CEO of ICICI Bank: Sandeep Bakhshi

Question: 

Q.1 Which organisation launched ‘iStartup 2.0’?
a. NITI Aayog
b. Ministry of MSME
c. SIDBI
d. ICICI Bank

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