Page 19 - Banking Finance July 2024

PRESS RELEASE

ICICI Bank introduces ‘SmartLock’, a unique safety measure on

iMobile Pay

ICICI Bank announced that it has launched ‘SmartLock’, a unique safety measure to enable its customers to lock/unlock
multiple banking services instantly, without seeking the help from a
customer care executive through phone or e-mail.

Available on iMobile Pay, it empowers customers to lock/unlock
access to internet banking, UPI (including payments from other UPI
apps linked to the Bank account), credit and debit cards, simply by
clicking a button, thereby taking safety of their account in their own
hands. ‘SmartLock’, the first-of-its-kind measure in the Indian
banking sector, also allows customers to lock/unlock the entire
iMobile Pay.
Customers can use this feature to deactivate a particular banking
service during a period of time. They can also use it in case of a
possible fraudulent transaction. It is worth noting that the ‘SmartLock’ feature allows scheduled standing instructions
(SI) and E-mandates to go through, even when a banking service is locked by the customer.
Speaking on the initiative, Mr. Sidharatha Mishra, Head – Digital Channels and Partnerships, ICICI Bank said, “Safety of
our customers’ accounts is of utmost importance to us. The launch of ‘SmartLock’ is yet another effort of the Bank to
strengthen the safety and security of the customer’s accounts and safeguard their interest. This Do-It-Yourself (DIY)
feature provides customers the convenience of enhanced security for banking services in their own hands, in one place.
The introduction of ‘SmartLock’ is a part of various ‘safe banking’ initiatives of the Bank.”

India Exim Bank opens its East Africa representative office in

Nairobi, Kenya

Export-Import Bank of India (India Exim Bank) on May 31, 2024,
inaugurated the East Africa Representative Office in Nairobi, Kenya
in the gracious presence of H.E. Dr. Musalia Mudavadi, Prime Cabinet
Secretary and Cabinet Secretary for Foreign and Diaspora Affairs,
Republic of Kenya; Dr. Vivek Joshi, Secretary, Department of Financial
Services, Ministry of Finance, Government of India; H.E. Ms. Namgya
C. Khampa, High Commissioner of India to Kenya; and Ms. Harsha
Bangari, Managing Director, India Exim Bank.
Merchandise trade between India and East Africa has shown significant
growth in the last decade, growing from US$ 9.7 billion in 2013 to
reach US$ 12.9 billion in 2022. India’s exports to the East Africa which were at US$ 8.6 billion in 2013 increased to US$
9.4 billion in 2022.
India Exim Bank is the leading financial institution engaged in financing, facilitating & promoting India's International
trade and investment, and also plays a critical role in policy formulation and project export finance under India’s economic
diplomacy. In addition to Kenya, the Bank also has offices in Abidjan, Côte d'Ivoire and Johannesburg, South Africa.
The African continent has been a key focus as part of India Exim Bank’s strategy to promote and support two-way trade
and investment. As a partner institution to promote economic development in Africa, the commitment towards building
relationships with the African region is reflected in the activities and programmes of the Bank.

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