ICICI Bank has launched a service that enables Non Resident Indians (NRIs) to send money to a beneficiary in India using social media like WhatsApp as well as by email. Christened ‘Social Pay’, this first-of-its-kind service by any Indian bank is available on Money2India (M2I), the bank’s app for remittances. This new facility will enable NRIs to send money conveniently to their friends and family, to whom they occasionally remit money, like on special occasions like festivals and birthdays.
ICICI Bank is India’s largest private sector bank by consolidated assets. The bank’s consolidated total assets stood at $165 billion at December 31, 2017. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 17 countries, including India.
