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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


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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