ICICI Bank jumps on partnering with PhonePe to offer instant credit on UPI
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ICICI Bank is currently trading at Rs. 1254.90, up by 18.25 points or 1.48% from its previous closing of Rs. 1236.65 on the BSE.
The scrip opened at Rs. 1241.90 and has touched a high and low of Rs. 1264.90 and Rs. 1232.90 respectively. So far 169020 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1361.35 on 20-Sep-2024 and a 52 week low of Rs. 898.85 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 1265.65 and Rs. 1224.40 respectively. The current market cap of the company is Rs. 890693.09 crore.
The Institutions and Non-Institutions held 90.21% and 9.79% stake in the company respectively.
ICICI Bank has partnered with PhonePe to offer instant credit on UPI to its pre-approved customers on the app of the digital payments company. The partnership enables millions of pre-approved customers of ICICI Bank to activate short term credit line instantly on the PhonePe app, and use it for UPI transactions in a seamless and secure manner. The Bank offers credit line on UPI for up to Rs 2 lakh with a repayment period of 45 days.
The facility is announced during the festive season to empower customers to purchase high ticket items like electronics, travel and hotel bookings, bill payments, and much more. This credit line is interoperable across various UPI payment applications and provides customers the facility of transacting using any UPI payment app.
ICICI Bank is a leading private sector bank in India.
