India’s largest private sector lender ICICI Bank is to start
charging customers to transfer funds from their mobile phones.

Each mobile transfer will incur an INR5
($0.10) charge for ICICI customers from 1 April, a service
currently offered free of charge.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

For other retail banking charges ICICI will
charge on a monthly as opposed to quarterly basis from April.

ICICI has been among the most enthusiastic
banks in India in promoting the use of mobile banking and
payments.

At the end of February, ICICI extended the
range of mobile banking services offered.

ICICI’s flagship mobile banking app, iMobile,
launched in 2008 and is now available for iPhone, Android,
Blackberry and Symbian mobile platforms. The service now also
allows customers to book tickets for rail, air and movies from
their mobile handsets.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Over 16.5m ICICI customers have been issued
with pin numbers enabling them to use the bank’s mobile payments
service.