ICICI Bank’s InstaBiz helps MSMEs | Fusion - WeRIndia

In a bid to encourage MSMEs perform digital transactions, ICICI bank announces the launch of a new digital platform, InstaBIz.

InstaBiz application is specially intended for MSMEs and self-employed customers to facilitate to perform their business banking transactions digitally and instantly.

Currently, InstaBIZ app is available on Google Play Store and soon it will be available on Apple App Store as well.

With this InstaBiz facility, customers can avail more than 115 products and services on their mobile phone or internet banking platform in a secure manner.

Most of the services are unique and immediately available.

InstaBiz allows to perform banking transactions with ease and there is no need to visit a bank branch.

This unique and complete digital platform facilitates businesses to get a wide range of services at their convenience.

An instant overdraft facility of up to ₹15 lakh, business loans, automatic bank reconciliation, easy bulk collection and payments of funds using various digital modes and many more services are there.

MSMEs can overview their sales, available cash, bills paid, invoices collected at one go. They can also pay tax instantly.

Businesses can also apply for a Point-of-Sale (PoS) machine and instant marine insurance policy. Both these services are industry-first services. They can instantly pay their GST using the challan number with a single click.

Anyone can download InstaBIZ to enjoy exceptional benefits.

The MSMEs that are not customers of the bank can also get an instant overdraft facility of up to ₹10 lakh by just uploading their bank statements and KYC details.

They can apply for a current account and customize the account number which is visible immediately.

The bank believes that this ‘all-in-one’ digital platform service will help businesses get banking services easily.

Image Credit : Ian Muttoo / CC BY-SA 2.0

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