Current Affairs - Banking - Discussion

ICICI Bank launched a USD-denominated debit card for Non-Resident Indians (NRIs) in partnership with Visa through its GIFT City branch. Built on the Visa Infinite platform, the card is linked to a USD Global Savings Account maintained at the GIFT City International Banking Unit. The initiative aims to reduce international transaction costs by eliminating traditional currency markup fees and GST charges usually applied to Indian debit cards. It also offers zero forex markup on direct USD transactions, providing significant annual savings for frequent international users. The service is especially targeted at NRIs, overseas professionals, and families supporting international education expenses.