Question: ICICI stands for-
(a) Industrial Credit and Investment Corporation of India
(b) International Credit and Investment Corporation of India
(c) Investment Credit and International Corporation of India
(d) None of the Above
Answer: (a)
Related facts:
- ICICI bank has launched two instant home loan products for up to Rs. 1 crore; both are first-of-its kind in the industry.
- The first initiative is Instant home Loan which enables pre approved salaried customers of the bank to avail loans up to Rs. 1 crore for a tenure of up to 30 years (based on the age of the customer) using internet banking facility.
- The second initiative is Insta Top Up Loan which helps existing home loan customers of the bank to avail the facility of top up loan instantaneously up to Rs. 20 Lakh for tenure of up to 10 Years in a paperless manner.
- The facility helps the customers get the top up amount disbursed immediately in their account as compared to the industry practice of approving and disbursing a top up home loan in a few working days.
- ICICI Bank is now offering home loans at over 1500 locations which is maximum among private sector banks.
- The bank’s disbursement in these markets is growing at a CAGR of over 20 percent, as compared to the industry average of 12 percent.
Links:
https://www.thehindubusinessline.com/money-and-banking/icici-bank-launches-two-instantaneous-home-loan-facilities/article26661321.ece
http://www.uniindia.com/icici-bank-announces-2-instant-home-loan-facilities/east/news/1545409.html