NEW YORK (TheStreet) -- Shares of ICICI Bank Ltd (IBN) , India's largest private sector bank, are up 5.62% to $11.84 after launching a completely online account opening facility for non-resident Indians (NRI) residing in the U.S.

With this first of its kind paperless account opening facility, NRIs can open an NRI savings account with ICICI Bank India in a single session on its website, eliminating the hassles of sending physical documents across continents, the bank said.

It is the first Indian bank to offer this facility to its NRI customers in the U.S., enabling them to open an account within two working days, the bank added.

Exclusive Report: Jim Cramer's Best Stocks for 2015

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

With about $124.76 billion in consolidated total assets, ICICI Bank's subsidiaries include private sector insurance companies, securities brokerage firms, mutual funds and private equity firms. The bank's presence currently spans 18 countries and has provided services for more than 1.5 million NRIs in over 150 countries over the last decade.

IBN Chart IBN data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.