ICICI Bank Brings '3-in-1' Service; Open Trading, Demat And Savings Account In One Go

ICICI Bank on March 03 announced the launch of an array of digital solutions for participants of the capital market and clients of custody services. The newly launched ‘3-in-1’ account enables the clients of stock brokers to digitally open online trading, demat and savings accounts in a few hours from anywhere across the country, the bank said in a statement. The Bank has also enabled providers of PMS services to digitally open savings account and demat account in a single working day, significantly reducing onboarding and activation time. Sumit Sanghai, head- large clients group, ICICI Bank, said, “Indian capital market has witnessed significant growth over the last few years which can be gauged from the increase in number of demat accounts, rise in AUM of the mutual fund industry and surge in capital flows into the country.” “We believe that the market will continue to experience robust growth and provide impetus to India’s journey towards becoming a $5 trillion economy by 2025. The digital set of solutions launched by the Bank will help the participants of the capital market and custody services meet regulatory requirements, significantly decongest manual processes, thereby improving their operational efficiency and scalability in business,” Sanghai added.