ICICI Bank leveraging InstaBIZ to expand MSME portfolio in Rajasthan

Jaipur, June 7 (KNN) ICICI bank is looking to expand its micro, small and medium enterprises (MSME) portfolio in Rajasthan through micro markets like handicrafts, furniture, stone/marble, gems & jewellery and textile etc.

The bank has called the MSME business in the state as one of its chief focus areas and has set up 30 credit processing centers in the state for faster processing of loans to MSME customers.

Highlighting the significance of the new version of its business banking mobile app, the bank said, “InstaBIZ will help MSMEs grow in Rajasthan as the first-of-its-kind app for business banking offers a host of benefits for all, including customers of other banks.”

Over the last few years, MSME customers in Rajasthan have frequently used InstaBIZ for financial transactions, availing Insta OD, opening current account, availing merchant solutions and making GST payments among others, said the lender.

Pankaj Gadgil, Head - Self Employed Segment, SME & Merchant Ecosystem, ICICI Bank said, “We believe that InstaBIZ will resonate with MSMEs and entrepreneurs in Rajasthan to undertake almost all business-banking transactions digitally and on the go. It brings in unprecedented convenience as it frees up their bandwidth largely, which they can devote to grow their main business. We believe this will make us the ‘bank of choice’ of the MSME segment.” 

The Bank has an extensive footprint in Rajasthan with nearly 490 branches and nearly 680 ATMs, creating a large retail network among private sector banks in the state. (KNN Bureau)