-12.90 (-1.01%) ICICI Bank, India's largest private sector bank and Vodafone India, one of India's leading telecommunications service providers, together have launched 'M-Pesa', a unique mobile money transfer and payment service in Uttar Pradesh West. With this service, customers can withdraw and deposit cash from designated outlets, transfer money within India, make payments to recharge, clear the utility bills and for DTH service among others.
M-Pesa' is the trademark of Vodafone. Under the M-Pesa service, customers need to have an M-Pesa account, which can be made at various outlets. This service would be available across 137 tehsils in 49 districts through 2,800 specially trained authorized agents in UP West.
ICICI Bank is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of $122 billion at December 31, 2012. The Bank’s presence currently spans 19 countries, including India.