India’s Icici Bank is aiming to transform a rural Indian community into a “digital village”, using technology to bring banking, education and health services to locals.
Icici Bank is creating a digital village in India.
The village of Akodara in the Sabarkantha district of Gujarat is being transformed to mark Icici’s 60th birthday and to show how technology can be used to transform the lives of India’s rural poor, says the bank.
All of Akodara’s adults now have savings accounts due to what Icici calls “tab banking”, which enables customers to sign up without handing over physical documentation. Customers can view statements, receive alerts, and send and receive remittances and fund transfers through their mobile phones.
Efforts are also being made to make the local economy cashless. Icici has built an end-to-end payment system using RuPay cards and SMS banking for village shops, the market and the cooperative society.
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