ICICI Bank has teamed up with Amazon India to offer an ultra-fast and completely digital overdraft (OD) facility of up to Rs 2.5 million to micro, small and medium enterprises (MSMEs) registered as sellers on the e-commerce player’s online marketplace across India. The overdraft amount that each seller can avail gets decided by a digital scorecard that instantly evaluates the creditworthiness based on that MSME customer’s financial profile, including Credit Bureau scores. MSME sellers having a current account with ICICI Bank can immediately avail the OD, whereas customers of other banks can start using the facility after digitally opening a current account with ICICI Bank.
