Financial Daily from THE HINDU group of publications
Tuesday, May 07, 2002
Financial Daily from THE HINDU group of publications Tuesday, May 07, 2002 |
|
|
|
|
|
Money & Banking
-
Private Banks Info-Tech - Telecommunications ICICI Bank ties up with BPL Mobile for `mots' Our Bureau
Ms Chanda Kochhar, Executive Director, ICICI Bank with Mr F. B. Cardoso, President & CEO, BPL Mobile, at the launch of the `mots' facility in Mumbai on Monday.
MUMBAI, May 6 BPL Mobile and ICICI Bank have tied up to allow recharge of BPL's prepaid cellular service facility (branded `mots') at any of the bank's 1000 plus ATMs across the country. The subscribers would also have to hold accounts with ICICI Bank. The prepaid service would be recharged against payment which would be debited from the customer's bank account. This facility would be introduced in the BPL cellular circles of Maharashtra, Mumbai and Goa and would soon be extended to cover the circles of Tamil Nadu and Kerala, said Mr. F B Cardoso, President and CEO, BPL Mobile, at a news conference here. Over 50 per cent of BPL's subscribers, numbering nearly 1 million, are in the pre-paid category. ICICI Bank has over 5 million customers. Both company officials said they hoped to dip into each other's customer base through this arrangement. The bank would of course earn an identified commission out of this arrangement. ICICI bank already has a facility with Bharti Cellular in New Delhi for recharge of the pre-paid facility at its ATMs. "We will shortly have such an arrangement with Bharti in Kolkata as well,'' said Ms. Chanda Kochhar, Executive Director, ICICI Bank. BPL Mobile has also done a soft launch of a credit card swipe machine facility in its southern circles for recharge of its prepaid facility. ICICI Bank also has a co-branded credit card with BPL, launched in October of last year. Over 5000 high end BPL post-paid subscribers across its four circles hold this cobranded card, said Mr. Cardoso. "We hope to have five to 10 per cent of ICICI's credit card base in the next six months,'' he said. The tie-up has exclusivity in terms of the circles, said Mr. Cardoso.
Send this article to Friends by E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|