Mumbai, Oct 11: The ICICI Bank today launched Car Shoppe -- a scheme which will facilitate buyers and sellers to come together for the transaction of used cars.
This will involve a high level of transparency as the entire operation will be carried out in the presence of the buyer and there will be no broker, the Bank said.
Under the scheme, the payment will be closed within the span of an hour. The initiative will begin with Pune-based Manas Motors and will be launched in 20 other locations across India later.
The Bank has also tied up with Cartrade India, an Internet portal that will provide on-line options to the customers.
Through the Cartrade India website, sellers can upload their cars and buyers will be able to browse through a wider range with the convenience and ease of the internet, the Bank said in a statement today.