ICICI Bank to convert 100 villages into digital in 100 days

Posted on:30 Nov 2016 09:34:59
ICICI Bank to convert 100 villages into digital in 100 days
30 November 2016 Current Affairs: Private sector lender ICICI Bank will transform 100 villages into digital villages in as many days to enable villagers go in cash less banking and payments transactions. 

These villages, which will be spread across the length and breadth of the country, will enable villagers to use digital channels for banking and payments transactions .

The bank continues to be a catalyst to accelerate development in our country. We strongly feel that technology can play an important role in putting development on a fast lane. By leveraging technology, we converted Akodara in Gujarat from a village to India's first digital village last year. 

Transformed into 'ICICI Digital Villages', villagers will be able to open bank accounts using Aadhar-based e-KYC and make cashless payments to retail stores through a unique SMS/USSD-based mobile solution. 

The bank also said that it would also set up end-to-end merchant infrastructure that would enable the retailers at the village to accept mobile based payments. 

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