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Spice Money Joins Hands with Axis Bank

Published on December 08, 2022
Current Context: Spice Money Limited partnered with Axis Bank to facilitate the opening of instant, zero-balance accounts for rural citizens.
Spice Money Joins Hands with Axis Bank
  • The primary objective of this tie-up is to bridge the urban-rural divide and boost financial inclusion by providing banking services at the doorstep.
  • The zero balance savings or current account will be opened instantly through Spice Money Limited’s Adhikari network.
  • The Spice Money network, comprising more than 1 million Adhikaris, will cover 18,000 PIN codes across 700 districts and 5,000 blocks in India.
  • It has also come on board with the e-commerce platform, Open Network Digital Commerce (ONDC), to facilitate smaller merchants in the rural area.
  • Spice Money Ltd is a Financial Technology company and a subsidiary of DiGiSPICE Technologies and was established in 2000 with its headquarters in Noida. The current CEO of the company is Sanjeev Kumar.

Question:

Q.1 Which of the company partnered with Axis Bank to facilitate the opening of instant, zero-balance accounts for rural citizens?
a. ZestMoney
b. Spice Money
c. LendingKart
d. DMI Finance
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