ICICI Bank launched ‘branch on wheels’ in Odisha

ICICI Bank Ltd. launched ‘Branch on Wheels’ in Odisha as part their financial inclusion plans to provide banking services in remote villages in the state which are devoid of banking facilities.

  • ICICI Bank is the first private sector bank to launch Mobile Branch with ATM

About ‘Branch on Wheels’ – mobile branch with an ATM.

  • First-of-its-kind initiative by any private sector bank in India.
  • Objective: To provide basic banking services to the remote unbanked villages in the state.
  • The branch would be operated on a van. It will be stationed at specific timings of the day in pre-identified, unbanked villages at specified locations.
  • Would be equipped with a GPS tracking system, laptops with 3G connections, LED TV, a safe, a printer, public announcement system, an UV Lamp that detects forged cheques, a note counting-cum-authentication machine that identifies fake currency notes and a unique low-weight ATM.
  • Offers a wide range of banking products and services viz. savings accounts, loans, cash deposit/withdrawal, account balance enquiries, statement printing and funds transfer/DD/PO collections, among others. 

Note: Odisha is the third state where ICICI Bank has expanded its ‘Branch on Wheels’ network after Maharashtra in September 2013 and Chhatisgarh in February 2014.