Citibank India may introduce instant disbursal of loans to help grow its retail portfolio. The bank already has instant disbursal of personal loans and mortgage loans. According to Kartik Kaushik, country business manager-retail and commercial banking, Citibank India, the bank has a focus on cross-selling which allows it to incrementally expand. However, digitization provides a much faster scale of expansion because the bank will be able to reach the customer at a faster pace, he added, mentioning earlier, there would be piecemeal automation of a process, either at the approval or documentation stage, which would eliminate certain manual steps but now the bank has made the whole process instant. The instant loan processing will be offered to its existing customers. The bank says the decision is in accordance with its strategy to digitize all offerings, end to end. In Asia, the bank is able to have 95% of all its transactions happen outside the branches.
