ICICI Bank and Visa USD Debit Card for NRIs via GIFT City
Why in the news
A private bank and a card network introduced a dollar-based debit card aimed at non-resident Indians.
Key facts
- Launched by: ICICI Bank and Visa.
- First of its kind: USD-denominated debit card for NRIs.
- Route: through GIFT City.
- Platform: Visa Infinite.
Benefits
| Feature | Benefit |
|---|---|
| USD spending | Pay directly in dollars |
| No forex markup | Avoids conversion charges |
| Currency risk | Lower exposure to rupee volatility |
| Visa Infinite | Premium travel and lifestyle perks |
Exam angle
- Target users: Non-Resident Indians.
- Financial centre involved: GIFT City.
- Card platform: Visa Infinite.