Federal Bank has entered into partnership with Spice Digital for cash management services through the bank’s e-collection facility. As per the arrangement, 20,000 plus retail outlets of Spice Digital can now remit its cash collection at the Federal Bank branches pan India. This helps the outlets to get replenished its running limits on the spot enabling them to continue to serve the customers hassle-free.
Spice Digital is a market leader for mobile value added services (MVAS), mobile applications and Internet products and services.
Federal Bank, the private sector bank operates through a branch network of 1,252 branches and 1,524 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at Rs 1.37 lakh crore as at March 31, 2016.
