1. ICICI Bank to digitise 100 villages

ICICI Bank to digitise 100 villages

ICICI Bank on Monday announced an initiative to digitise 100 villages in as many days to enable smoother commercial transactions in the wake of demonetisation of high-value currency notes.

By: | Mumbai | Published: November 29, 2016 6:22 AM

ICICI Bank on Monday announced an initiative to digitise 100 villages in as many days to enable smoother commercial transactions in the wake of demonetisation of high-value currency notes.

Managing director and chief executive Chanda Kochhar said, “This encompasses digitisation of transactions and commercial activities in the villages. It includes vocational training and formation of sustainable livelihood groups in the villages. It includes providing credit facilities to help villagers earn a sustainable livelihood.”

She said the drive will entail an extension of the bank’s activities in the village of Akodara in Gujarat. This would include creation of a cashless digital payment ecosystem for predominant commercial activity in each of the villages, as in the case of an end-to-end tracking, measuring and payments solution for the milk cooperative in Akodara.

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