ICICI Bank Partners with CBA for Australia-India Trade

Mumbai, Dec 11 (PTI) ICICI Bank on Wednesday said it has entered into a partnership with Commonwealth Bank of Australia (CBA) for supporting customers across the Australia-India corridor.

The two lenders will carry out a slew of activities, including facilitating introductions of corporate and institutional customers who are interested in investing or setting up businesses in the other bank's home country, and facilitating trade between corporate customers in Australia and India, as per a statement.





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Standard Chartered Bank launches FEMA Centre of Excellence

* Standard Chartered Bank, India on Wednesday announced the launch of its "FEMA (Foreign Exchange Management Act) Centre of Excellence".

The proposition to help clients navigate and comply with the dynamic regulatory environment and enhance efficiencies, a statement said.






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ICICI Prudential Life Insurance declares claim settlement ratio of 99.04 pc for Q2


* ICICI Prudential Life Insurance has declared a claim settlement ratio of 99.04 per cent for the September quarter, claiming it to be the highest among all life insurance companies in the country.

It settled death claims of over Rs 451 crore during the period and the average claim settlement turnaround time was 1.2 days, according to a statement.






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Navanc announces USD 1-million fundraise


* Navanc on Wednesday announced a USD 1 million fundraise in a round led by Prarambh Ventures, with participation from Inflection Point Ventures (IPV) and Brigade REAP FirstPort Capital.

The company has launched an AI-powered property score and stack for secured lending and insurance, which integrates advanced AI, IoT, and Blockchain for secure transactions, as per a statement.




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UGRO Capital received patent for proprietary credit scoring model

* Non-bank lender UGRO Capital on Wednesday said it has received a patent for its proprietary credit scoring model, GRO Score.

Christened as "Method and System for Modelling Credit Scorecards", the Model will ease credit access, according to a statement.