Financial Daily from THE HINDU group of publications
Wednesday, Jan 30, 2002
Financial Daily from THE HINDU group of publications Wednesday, Jan 30, 2002 |
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Money & Banking
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Private Banks ICICI Bank in ATM pact with Bharti Our Bureau
MUMBAI: ICICI Bank and Bharti Cellular have formed a strategic partnership which will allow consumers to recharge the latter's pre-paid cash cards (Magic) at ICICI ATM machines. The service is currently available to AirTel subscribers in the Delhi circle and will soon be extended to other circles, with similar tie-ups with service operators. Says the Executive Director, ICICI Bank, Ms Chanda Kochhar, "We will go to 10 more cities in the next six months, tying up with other operators as well. The next launch will be in Mumbai within a month's time.'' However, in Delhi, the tie-up will be exclusive to AirTel for six months after which the bank is free to ink similar partnerships with other players. With the growing use of ATMs, ICICI is keen to offer more services through its network. Currently, 45 per cent of ICICI's banking transactions are conducted on ATMs.
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