ICICI Bank’s ‘Infinite India’ Platform- Highlights

ICICI Bank has recently launched a new online platform named – Infinite India. It is an initiative for providing a one-stop solution to foreign entities. It is a first-of-its-kind solution in the country that provides all pre and post services for setting a business entity under one roof along with tailor-made banking solutions for foreign entities.

Key Points

• The bank will provide assistance in setting up business entities in India by providing Incorporation services, Corporate Filings, Licenses and Registrations, and more.
• As an authorized Dealer Category 1’, ICICI Bank can authorize setting up of Branch Office (BO), Liaison Office (LO) as well as a Project Office (PO) in India under FEMA.
• The platform will provide all business and professional services under one roof which will include annual compliances, taxation, advisory on legal and regulatory norms, Human Resource Services, Trademarks and Patents, and more.
• The platform will present tailor-made banking solutions including Generic Services like API Banking, Connected Banking, Services for Employees & Expats, etc.; Maturity Services like Collections and Payment Solutions, Trade Services, etc.; High-end Services like Global Banking, Corporate Banking Products, Forex and Treasury Services; Digital channels; a dedicated Solution Manager and more.

FEMA

FEMA i.e. Foreign Exchange Management Act, 1999 is an act that compiles and amends the laws related to foreign exchange with the aim of easing external trade and payments and promoting the development of the foreign exchange market in India.