ICICI to launch site for property retailing
(Saturday, February 5, 2000)
Amit Prasad in Mumbai
ICICI would be launching a web-based property retailing service called indiahomeseek.com within a month. This initiative is part of the group's effort to increase its retail thrust in the housing sector from a negligible proportion now to 15 per cent of sanctions in another five years. Other retail products on the cards include loans against shares and debit cards.
Speaking to Business Standard, Shikha Sharma, senior general manager of ICICI, said, "Customers would be allowed to both buy and sell property on the new site. It would also offer them a host of other services including information on architects, designers and availability of property within the country."
The site would also provide advisory services on legal and complex tax issues involved in property transactions. Currently indiahomeseek.com is in beta mode and once testing is over it would be made available online.
ICICI would also be launching loans against shares within the next two months. "We are primarily focusing on providing new loans to increase the retail business as this is likely to become increasingly important in the future," said Sharma.
However, the terms of the product are yet to be decided though they would be competitively priced.
Although ICICI Bank is likely to launch its debit cards, they are unlikely to do so in a hurry. ICICI officials say the combination of a bank account and credit cards already provide the customers most requisite conveniences and therefore debit cards could wait for some time.
The recently launched credit cards of ICICI Bank are already receiving a good response. ICICI has been using multiple channels to distribute this product which include bank branches, ICICI centres, direct agents, call centres as well as the Internet |
