ICICI Bank launches STACK for companies in real estate sector
 

 

  • This is a comprehensive set of banking solutions for real estate builders, REITs and AIFs
  • First bank in the industry to offer real estate specific STACK to provide unparalleled convenience to players in this sector

Mumbai: ICICI Bank today announced the launch of a STACK for companies in real estate sector to offer solutions to their banking requirements on one platform. The STACK, which is a combination of digital and phygital solutions, enables participants of the real estate sector namely builders, Real Estate Investment Trusts (REITs) and Alternate Investment Funds (AIFs) to undertake banking transactions expeditiously. This initiative is an extension of the ‘ICICI STACK for Corporates’ which the Bank launched last year to provide a customised set of banking solutions for corporates and their entire ecosystem.

The first-of-its kind initiative offers builders, banking solutions such as digital opening of bank accounts, instant generation of account number for RERA registration*, construction finance, inventory funding, and lease rental discounting to cater to their financial needs, depending on the life cycle stage of a project. In addition, it enables them to manage their payment obligations to vendors, employees, utility providers and statutory payments efficiently. Read More

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