ICICI Bank ties with Aircel for Mobile Money

India’s largest private sector bank, ICICI Bank has partnered with Aircel to launch a mobile banking service, ‘Mobile Money’.

With the help of this service the unbanked customers of these two companies will be able to transfer money securely and instantly through their mobile phones without getting connected to data services.

The service will work towards financial inclusion of those who face problems in transferring money due to absence of branches or ATMs closer to them by offering a range of financial services such as deposits and cash withdrawals, money transfer to third parties, self-reload of prepaid mobile credit, and various utility bill payments.

The service will be first launched in Tamil Nadu to specifically cater to the needs of migrant working population.

Month: Current Affairs - February, 2013