In a major boost to India’s global banking ecosystem, ICICI Bank, in partnership with Visa, has launched the country’s first USD-denominated debit card for Non-Resident Indians (NRIs) through its IFSC Banking Unit (IBU) at GIFT City, Gujarat.
The landmark initiative is aimed at offering seamless international banking solutions to NRIs by enabling direct access to US Dollar savings for transactions worldwide. Linked to ICICI Bank’s USD Global Savings Account, the debit card is powered by Visa’s premium Infinite platform and can be used globally across ATMs, Point-of-Sale terminals and e-commerce platforms.
The launch is expected to significantly reduce currency conversion hassles for NRIs while providing enhanced convenience, liquidity and secure cross-border payment experiences.
Speaking on the occasion, Vipul Agarwal, Head – Cards and Payment Solutions at ICICI Bank, said the Bank continues to focus on innovative financial solutions tailored to the evolving needs of global Indian customers. He noted that the partnership with Visa combines global acceptance, premium security standards and seamless access to USD savings, further strengthening GIFT City’s position as a leading international financial hub.
Rishi Chhabra, Country Manager for India at Visa, described the launch as a major milestone in expanding globally connected payment solutions from GIFT City. He said the initiative would empower NRIs with greater convenience, transparency and control over their international financial transactions.
The launch marks another significant step in India’s ambition to build world-class financial infrastructure and position GIFT City as a global centre for offshore banking and fintech innovation.
