ICICI Bank no longer issuing two wheeler loans at dealer end

ICICI Bank no longer issuing two wheeler loans at dealer end

India’s leading private sector bank ICICI has announced that they are no longer going to offer two wheeler loans from dealer’s showrooms.

These loans would now be available only from their bank branches.

ICICI Bank has now transferred 200 employees in this unit to other departments.

ICICI Bank executive director V Vaidyanathan spoke about this decision: “The bank has decided to reorient the two-wheeler business through branches rather than at dealerships.”

He added: “The clear focus of the retail business is to improve credit quality and all norms are being put place in order to achieve this. The business strategy is being reworked to deal directly with customers and improve our interaction with them. The focus of the bank is on controlling operating expenditure and increasing efficiency.”