You are here: Home » Finance » News » Banks
Business Standard

ICICI Bank for rural digital push, 100 villages to be added

To create a digital ecosystem for the transaction and commercial activities in the far-flung areas of the country

Press Trust of India  |  New Delhi 


In the wake of the ban on high notes, has targeted to add 100 villages in as many days to create a for the transaction and commercial activities in the far-flung areas of the country.

"will transform 100 villages into 'ICICI Digital Villages' in as many days. The announcement is a part of the bank's continuing effort to provide across the country, including rural India, in the wake of demonetisation of high-value currencies," it said.

said it is the largest village promotion programme in the country that will facilitate digital transactions in villages.

Bank's ambitious project is inspired by the success of India's first digital village created by it at Akodara in Sabarkantha district, Gujarat last year.

"We strongly feel that technology can play an important role in putting development on a fast lane. We will create a cashless ecosystem at these villages, provide vocational training to 10,000 villagers in first 100 days and offer them credit linkages so that the villagers can start their own business ventures," ICICI Bank MD & CEO said.

Theses villages will enable dwellers to use digital channels for banking and payment transactions, ICICI Bank said.

In these areas, villagers will be able to open bank accounts using Aadhaar-based and make cashless payments to retail stores through a unique SMS/USSD-based mobile solution.

Besides it will also impart vocational training and credit facility to help villagers earn a sustainable livelihood.

ICICI Bank said it will join hands with its arm ICICI Foundation to train nearly 10,000 underprivileged villagers, especially women, to help them earn a sustainable livelihood.

The bank will also extend credit facilities to the trained villagers in a bid to boost self-employment opportunities, the statement said.

First Published: Mon, November 28 2016. 19:00 IST