 "ICICI BANK")
Private sector lender ICICI Bank has launched two new products – loan against deposits and dollar bonds – for non-resident Indians at its GIFT City branch in Gujarat.
The bank is the first to offer these products in GIFT City, the lender said in a release.
The loan against deposits facility is similar to a loan in foreign currency against a deposit in India and includes non-resident external fixed deposits in rupees, ICICI Bank said. Clients may avail of the facility for short-term cash requirements without premature closure of term deposits which entails penalties.
Up to 95 per cent of
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