Vodafone Tie Up With ICICI Bank For Financial Inclusion

Vodafone, one of the largest Mobile service operator in India, today announced a joint initiative with the ICICI Bank to drive financial inclusion in the country.

Under this tie-up, both entities will offer a bouquet of financial products such as savings accounts, pre-paid instruments and credit products through a mobile phone based platform.

This partnership is expected to bring the un-banked and under-banked population into the organised financial services framework and assist in furthering the electronic payments market in India.

ICICI Bank will leverage the distribution strength of Vodafone, which manages over 1.5 million retail points for acquiring customers and servicing them.

Mr. Marten Pieters, MD & CEO, Vodafone Essar, said “The RBI move to allow for-profit companies to be Business Correspondents is a welcome move that will enable the population better access to financial services. With our reach and ability to connect to customers. We are pleased to work with ICICI Bank, which has always strived to offer innovative products to its customers.”

Reported By

Leave a Reply

7 Comments on "Vodafone Tie Up With ICICI Bank For Financial Inclusion"


Sort by:   newest | oldest
parashar kumar
January 12, 2011 5:09 pm 5:09 PM


January 12, 2011 3:36 pm 3:36 PM

ICICI se loan leke pehele apna network improve karwao Odisha mein…………..

parashar kumar
January 12, 2011 2:17 pm 2:17 PM

As there are many multi service providing retail points which offer the services of many service provider, clash of interest may be there and one would be finding it tough to be serviced accurately and promptly at these points of sale as the guys operating the point of sale, at times, are unaware of the technicalities of telecom products, procedures and pricing. it would be tough to assume that these point of sale can double itself into business correspondents unless they have a dedicated person for providing the rudimentary banking services.