After successfully launching no-cheque cum no-ATM facility zero-balance internet bank accounts in the UK, Canada and Germany, ICICI Bank has now replicated the model in India by introducing ?b2-Branch free Banking? accounts.
The bank is soon expected to launch ?mobile-n-cash concept? aimed at withdrawing cash through card-less ATMs, with the help of passwords generated through mobile phone messages. ICICI Bank has initiated a process to convert most of its existing 4,000 ATM machines into card-less ATM formats across India.
V Vaidyanathan, executive director, ICICI Bank said, ?This is a novel attempt to woo over 5 crore existing internet users in our country to pay their bills, transfer funds across the banks in India, buy goods or services and transact various banking activities through our new online initiative whose customers too will have to follow the KYC norms as laid for availing the branch banking facility. We will also offer personal loans, auto loans and virtual credit cards.?
