ICICI Bank launched "b2- Branch- free Banking"

ICICI Bank, India’s second largest bank has launched “b2- Branch- free Banking“. Through “b2- Branch- free Banking“, bank will be offering flawless information through a single interface to make banking transaction easy, over the internet. With this unique direct banking customers will be able to manage all their finances online.

Besides this for easy access and anytime anywhere banking, customers opting for “b2-Branch- free Banking“, will be benefited from zero charges and no minimum balance. Under this the customers will also benefit from quantum optima facility, in which if the balance exceeds Rs 5000, the money is automatically transferred, in multiples of Rs 5000, to a linked fixed deposit which will earn ICICI bank fixed deposit rates. Along with this bank will also offers facilities like an e wallet – a zero limit pre paid visa card which can be used for online purchases and to pay utility bills.

While explaining about the new banking scheme Mr. V. Vaidyanathan, Executive Director, ICICI Bank Ltd said, “b2- Branch- free Banking”, implies to a new way of banking -100 % online. Currently India has over 49 million internet connections and this number is growing at around 20%. Therefore this innovation of banking “only” on the net will gather momentum.”

He informed “b2- Branch- free Banking”, is complete safe as it offers complete security to customers transacting on the internet by using different tools, methods, and processes to protect account information and banking transactions.

ICICI Bank Limited is India's largest private sector bank and the second largest bank in the country, have a consolidated total assets of $121 billion as of March 31, 2008. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. Currently ICICI Bank’s has presence across 19 countries, including India.