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ICICI Bank Partnered with Fintech Niyo

Published on January 15, 2021
Current Context: India’s private sector bank, ICICI Bank has partnered with Fintech Niyo to launch and issue prepaid cards to MSME workers.
ICICI Bank Partnered with Fintech Niyo
  • Due to this partnership, MSME will be able to avail ‘ICICI Bank Niyo Bharat Payroll Card’, which will be offered to MSME’s blue-collar workers who are mostly unbanked.
  • The ‘ICICI Bank Niyo Bharat Payroll Card’ is powered by Visa.
  • The card will also allow workers to get the benefit of the funds up to Rs. 1 lakh into the card account.
  • This partnership is another step by ICICI Bank to offer banking solutions to the underbanked population. 
  • The card will also offer digital solutions with ease and safety transactions.
  • Static Part: 
    • HQ of ICICI Bank: Mumbai
    • MD and CEO of ICICI Bank: Sandeep Bakhshi

Question: 

Q.1 Which private sector bank partnered with Fintech Niyo to offer prepaid cards to MSME workers?
a. Kotak Mahindra Bank
b. Axis Bank
c. HDFC Bank 
d. ICICI Bank
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