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The Industrial Credit and Investment Corporation of India (ICICI) was a government institution established on 5 January 1955 and Sir Arcot Ramasamy Mudaliar was elected as the first Chairman of ICICI Ltd. It was structured as a joint-venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project ...
Unified Payments Interface (UPI) Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions.
National Financial Switch (NFS) is the largest network of shared automated teller machines (ATMs) in India. [1] It was designed, developed and deployed by the Institute for Development and Research in Banking Technology (IDRBT) in 2004, with the goal of inter-connecting the ATMs in the country and facilitating convenience banking.
Immediate Payment Service. Immediate Payment Service ( IMPS) is an instant payment inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones. The service is available 24/7 throughout the year including bank holidays. National Electronic Funds Transfer (NEFT) was also ...
The Reserve Bank of India, India's central banking authority, was established in April 1935, but was nationalized on 1 January 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b). [31] In 1949, the Banking Regulation Act was enacted, which empowered the Reserve Bank of India (RBI) to regulate ...
Chanda Kochhar ( née Advani, born 17 November 1961) is an Indian banker. She was the managing director (MD) and chief executive officer (CEO) of ICICI Bank from 2009 to 2018 [1] She resigned from her positions in 2018 due a case of conflict of interest. [2] Subsequently, she was fired by ICICI Bank, a decision which was later upheld by the ...
v. t. e. Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that ...
ICICI Home Finance Company (ICICIHFC) is an Indian public limited housing finance company (HFC), headquartered in Mumbai with branches in major cities across India. The company operates as a wholly owned subsidiary of ICICI Bank and is registered with the regulation authority of India - National Housing Bank (NHB).