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‘InstaFX’ Mobile App—ICICI Bank

Published on January 21, 2021
Current Context: India’s Private sector bank, ICICI Bank launched a new mobile application called ‘InstaFX’.
‘InstaFX’ Mobile App—ICICI Bank
  • The ‘InstaFX’ app is launched to help the customers of any bank to get ‘ICICI Bank Forex Prepaid Card’ swiftly. 
  • Thus by doing so, ICICI Bank has become first in the country to offer this facility to money changers.
  • With the help of this app, authorised money changers, who are partners of the bank will be able to complete the KYC verification and validation of customers digitally and in a real-time format.
  • It thus offers ease of convenience to the users who are not even the customers of ICICI Bank.
  • Static Part: Who is a money changer? A Person or a firm who has a business of exchange of coins or currency of the country to the other.
    • HQ of ICICI Bank: Mumbai
    • MD and CEO of ICICI Bank: Sandeep Bakshi


Q.1 Which bank launched ‘InstaFX’ mobile app for authorized money changers?
a. Axis Bank
b. Federal Bank
c. Deutsche Bank
d. ICICI Bank

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