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-ICICI Bank and Vodafone to partner in mobile banking offering.

Global Banking News-January 13, 2011--ICICI Bank and Vodafone to partner in mobile banking offering(C)2011 ENPublishing -

Global Banking News - 13 January 2011(c)2005 - Electronic News Publishing -

India-based ICICI Bank (NSE: ICICIBANK) and cellular network operator, Vodafone, are planning to offer mobile banking services in the country.

In a move aimed at increasing banking service to the unbanked sections of the society in the nation, the two entities are to work together. The bank would add to the distribution strength of Vodafone through the deal. In the coming weeks, the companies are to chart out a plan to enhance cooperation and to plan how they may penetrate the market better.

ICICI Bank's managing director and CEO, Chanda Kochhar, said, 'We are very excited about the partnership with Vodafone which will help ICICI Bank in deepening its base within the country. Mobile penetration is growing exponentially in the country of which the rural market forms a major contributor.'

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((Distributed via M2 Communications -

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Date:Jan 13, 2011
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