Chandigarh:15.06.22- ICICI Bank today announced that InstaBIZ aims to help micro, small and medium (MSME) enterprises grow in Punjab and Haryana as the first-of-its-kind app for business banking offers a host of benefits for all, including customers of other banks. The host of benefits being offered by the new version of InstaBIZ can be put into three categories: i) enhanced banking services for existing customers, ii) a bouquet of banking services to MSMEs, who are customers of other banks, iii) a whole range of value-added services for all. With this, the new version of InstaBIZ, which was unveiled last month, brings forth a significant shift from the existing industry practice where banks offer services only to their customers.

Mr. Pankaj Gadgil, Head - Self Employed Segment, SME & Merchant Ecosystem, ICICI Bank said, “We at ICICI Bank always believe that the MSME segment forms the backbone of the Indian economy. It has been our philosophy to enhance ‘ease of doing business’ for MSMEs and become partners in their growth. The MSME market is estimated to grow at a rapid pace in the coming years. Punjab and Haryana are important states for us and we are pleased to say that we are growing rapidly in these two states. We believe that InstaBIZ will resonate with MSMEs and entrepreneurs in Punjab and Haryana to undertake almost all business-banking transactions digitally and on the go. It brings in unprecedented convenience as it frees up their bandwidth largely, which they can devote to grow their main business. We believe this will make us the ‘bank of choice’ of the MSME segment.”