ICICI Bank linked UPI ID to its ‘Pockets’ Digi-Wallet

Published on May 28, 2021
Current Context: ICICI Bank announced the linking of a UPI (Unified Payments Interface) ID to its digital wallet ’Pockets’.
ICICI Bank linked UPI ID to its ‘Pockets’ Digi-Wallet
  • For this purpose, ICICI Bank collaborated with the National Payments Corporation of India (NPCI).
  • By doing so, ICICI Bank has become 1st one to link e-wallet with the UPI network.
  • Now, the customers of ICICI Bank can perform UPI transactions from their e-wallet balance instead of saving account.
  • Due to the linkage between UPI ID with Pockets, customers will be able to use their balance from their wallet for smaller transactions.
  • The new users and who are not customers of ICICI Bank, can now instantly get a UPI ID, which is automatically linked to ‘Pockets’.
  • And the customers who already possess UPI ID will get a new ID when they log on to the ‘Pockets’ app.
  • Static Part: 
    • HQ of ICICI Bank: Mumbai
    • Tagline of Yes Bank: Hum Hai Na, Khayal Aapka
    • MD and CEO of ICICI Bank: Sandeep Bakshi

Question: 

Q.1 Which bank has become 1st one to link e-wallet with UPI network? 
a. ICICI Bank
b. Axis Bank
c. Yes Bank
d. Kotak Mahindra Bank

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