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Private lender ICICI Bank Thursday said it has launched a digital service to allow customers to open a PPF account online, eliminating the need for furnishing paper documents.
The digital service will enable customers to open a public provident fund (PPF) account instantly and in a completely online and paperless manner.
"With this new facility, customers of the bank are no longer required to visit a branch and submit physical documents to open a PPF account. They can now conveniently open a PPF account anytime, anywhere using the bank's digital channels of the Internet and mobile banking," it said in a statement.
The bank said it is the first lender in the country to introduce a fully digital and paperless procedure for opening a PPF account.
The facility, available 24x7 and on all days, will require customers to log in to their internet banking or mobile banking and apply for a PPF account.