Press Release for June 2026

IDFC FIRST Bank launches Business Multiplier credit card for Founders & Entrepreneurs

IDFC FIRST Bank unveiled the FD-backed Business Multiplier Metal Credit Card for founders, entrepreneurs and business owners. Designed to support everyday operational needs, the premium metal card displays both the business name and the cardholder’s name, reinforcing its business use. With a dedicated credit limit for business expenses, the Business Multiplier Credit Card can help keep business and personal spend separate.

It can be used across a wide range of expenses including office supplies, digital marketing spends, SaaS subscriptions, business travel, equipment purchases, inventory procurement, international vendor payments, and employee reimbursements.

Backed by assured credit limits linked to Fixed Deposits, along with rewards on key business categories, real-time visibility into spending, and zero forex markup on international transactions, the card helps businesses manage cash flow more efficiently, improve expense tracking, and build a stronger credit profile over time.

Key benefits designed to support business growth

1. Flexible credit for business cash flow – Up to 45 days interest-free credit, followed by a marketleading 1% monthly interest rate for balances carried forward.

2. Huge savings on forex with 0% Forex Markup and Interest-Free Global ATM cash access. There is no longer a need to carry foreign currency notes and travel cards.

3. Accelerated rewards on business expenses – up to 10 reward points for every Rs. 200 spent on key business categories.

4. Hyper-accelerated rewards on travel- Exclusive access to highly rewarding IDFC FIRST travel ecosystem offering bonus rewards value-back of 7.5% on hotels and 4.4% on flights.

5. Pay by Rewards for all online purchase.

6. 8 Complimentary Lounge access every year for domestic and international travel on minimum spends of Rs. 20,000 in the previous calendar month

7. Travel Protection: A dedicated ?25,000 Trip Cancellation Cover twice a year

8. Pay vendors seamlessly using UPI with built-in UPI feature

9. Premium Metal card for businesses reflecting the stature of founders and owners.

10. Complete visibility and control on team spending Issue employee cards with spending controls and track all expenses through a single consolidated statement.

11. Full credit limit equal to Fixed Deposit value with 100% credit limit against Fixed Deposit.

12. Instantly increase your credit limit anytime by creating and linking a Fixed Deposit through the IDFC FIRST Bank app

Available against a Fixed Deposit starting Rs. 50,000, this premium metal card carries a joining fee of Rs. 1,000 and an annual fee of Rs. 1,000. The annual fee is waived upon annual spends of Rs. 5 lakhs.

Speaking on the launch, Mr. Shirish Bhandari, Head – Credit Cards, FASTag & Loyalty at IDFC FIRST Bank, said, “Many growth-stage businesses still rely on debit or retail cards for operational spending. The FD-backed Business Multiplier Metal Credit Card gives them a purpose-built alternative – flexible access to working capital, zero forex markup for global payments, rewards on everyday business spends, and the confidence of a premium metal form factor as they scale.”

ICICI Bank and Visa launch first USD-denominated debit card for NRI customers of GIFT City IBU

ICICI Bank, in partnership with Visa, announced the launch of India’s first USD-denominated debit card from its IFSC Banking Unit (IBU) at GIFT City, the emerging global financial and IT services hub in Gujarat. This milestone reinforces the Bank’s commitment to offer innovative global banking solutions for Non-Resident Indian (NRI) customers.

This first-of-its-kind debit card is linked to ICICI Bank’s USD Global Savings Account offered through the Bank’s IBU. Built on Visa’s premium Infinite platform, the card enables seamless global transactions and provides liquidity by allowing NRIs to access their USD savings in the bank account for usage worldwide at ATMs, PoS and e-commerce platforms. The launch marks a significant step in expanding secure, seamless, and premium offshore payment solutions for NRIs.

Speaking on the launch, Mr. Vipul Agarwal, Head – Cards and Payment Solutions at ICICI Bank said: “ICICI Bank has consistently focused on creating innovative banking solutions that caters to the evolving global financial needs of NRIs. As global mobility increases, NRIs often face currency conversion costs and fragmented international banking experiences. This USD-denominated debit card represents an important step in providing customers with seamless access to their USD savings. Our collaboration with Visa enables us to combine global acceptance with premium security and service standards, while further strengthening GIFT City’s position as a leading international financial hub.”

Mr. Rishi Chhabra, Country Manager for India at Visa, added: “Visa is proud to partner with ICICI Bank to launch the first USD-denominated debit card issued from GIFT City’s IFSC, built on our premium Visa Infinite platform. As cross-border financial needs continue to grow, this solution enables Non-Resident Indians to access and spend their US Dollar savings globally with greater convenience, transparency, and control. By leveraging ICICI Bank’s wide reach and Visa’s global network, we are supporting India’s vision of building world-class financial infrastructure and expanding globally connected payment experiences from GIFT City.”

India and LAC to Target Opportunities in Green Energy, Critical Minerals, and Future Value Chains

Export-Import Bank of India (India Exim Bank)’s study titled “India’s Economic Footprint in LAC: Trade and Investment Patterns and Opportunities” was released on May 22, 2026 by Mr. Manuel Ochipintti, President of Banco Nacional de Fomento (BNF), Paraguay and Mr. ?Edgardo Alvarez, Secretary General, ALIDE, in the presence of Mr. Biswajit Garg, Exim Bank’s Resident Representative to LAC Region, at the General Assembly of the Latin American Association of Development Financing Institutions (ALIDE) 2026, held in Paraguay. The release underscores the Bank’s commitment to forging a long-term, mutually beneficial partnership with Latin America and the Caribbean (LAC) countries, anchored in trade, investment, and development cooperation.

LAC countries are at an important juncture, with merchandise trade reaching US$ 2.9 trillion in 2024, expanding steadily over the past decade despite global headwinds. The region’s resilience is reflected in efforts to deepen regional integration, diversify beyond commodities, and strengthen macroeconomic fundamentals. With rich natural resources, a growing and increasingly skilled workforce, and a stronger focus on sustainability and innovation, LAC is well placed to drive long-term, inclusive, and green growth in partnership with India.

India-LAC ties are entering a new phase, with commodity-based engagement giving way to diversified, innovation-led, and climate-compatible partnerships. India’s trade (both merchandise and services) with the LAC region have steadily deepened over the past decade, characterised by complementarity and growing interdependence. India is also expanding its financial footprint in Latin America. The study underlines that LAC’s sectoral strengths in agriculture, mining, energy, automotive, pharmaceuticals, and services offer strong complementarities with India’s development priorities and industrial capabilities. It identifies significant opportunities for Indian firms in critical minerals (lithium, copper, and other strategic metals), renewable energy and green hydrogen, agribusiness and agritech, digital and financial technologies, and infrastructure, including ports, logistics, and public–private partnerships.