ICICI Bank 2015 Annual Report Download - page 20

The Government’s vision is to
transform India into a digitally
empowered society and a knowledge
driven economy. ICICI Bank is
supporting this vision through a host
of offerings that leverage technology
and help unbanked consumers fulfil
their banking needs.
Partnering the nation by providing
digital banking services
In fiscal 2015, ICICI Bank undertook a revolutionary ‘Digital
Village’ initiative in Akodara, Gujarat. Apart from ensuring
that every adult in the village has a bank account, the Bank
has enabled cashless payments with the help of RuPay
cards and mobile payments for day-to-day transactions.
The Bank upgraded the local school’s infrastructure to
enable digital learning and set up a skill development
centre for the youth. The village was also provided with
Wi-Fi services, thereby enabling its residents to stay
connected to the rest of the world.
The Bank actively participated in the Pradhan Mantri Jan-
Dhan Yojana (PMJDY). It opened more than 2.0 million
accounts; by far the highest among private sector banks,
representing 45% of the total accounts opened by them.
Nearly 90% of these accounts have been opened in rural
areas. The Bank has also issued these new account holders
with RuPay cards to transact at merchant outlets and
withdraw cash from ATMs easily.
ICICI Bank has also simplified the account opening process
for Aadhaar card holders. Applicants authenticate themselves
with their Aadhaar-verified biometric signatures and their
details get populated automatically in the account opening
form. This enables applicants to open accounts in a quick
and hassle-free manner without having to provide additional
documents.
ICICI Bank’s rural customers also use this biometric
authentication to access banking services at micro-
ATMs using the Aadhaar Enabled Payment System
(AEPS). This allows them to withdraw cash, transfer
funds and check for account balance in a secure and
convenient manner.
With the Bank’s digital domestic remittance service, migrant
workers living in cities can instantly transfer money to their
families’ bank accounts in villages, using mobile phones.
This eliminates the dependence on money orders or the
need to send money through acquaintances.
ICICI Bank has also partnered with the Government in its
efforts to improve transparency in the e-tendering process.
This initiative is available in the states of Chhattisgarh,
Haryana, Karnataka and Maharashtra. By developing a
Cashless ecosystem
set up in Akodara, Gujarat, ICICI Bank’s revolutionary
‘Digital Village’
18 Annual Report 2014-2015