ICICI Bank will partner with the FINO PayTech to foray into the payments bank space. FINO Paytech has received ‘in principle’ licence from the Reserve Bank of India (RBI) to start a payment bank.
ICICI Bank is India's largest private sector bank with consolidated total assets of $132.17 billion at March 31, 2015. The Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms.