-12.90 (-1.01%) ICICI Bank, India’s largest private sector bank, has launched ‘Branch on Wheels’ as part of its financial inclusion plan that aims at providing banking services in villages which are still devoid of banking facilities. The ‘Branch on Wheels’ is a mobile branch with an ATM that offers basic banking products and services such as savings accounts, loans, cash deposit/withdrawal, account balance enquiries, statement printing and funds transfer/DD/PO collections, among others.
The mobile branch with an ATM will be operated at specific timings of the day in pre-identified, unbanked villages through a van that will be stationed at specified locations. It is equipped with a GPS tracking system, laptops with 3G connections, LED TV, a safe, a printer, public announcement system, an UV Lamp that detects forged cheques, a note counting-cum-authentication machine that identifies fake currency notes and a unique low weight ATM. Two ICICI Bank officials and a guard will manage the mobile branch with ATM.
ICICI Bank is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of US $124 billion at March 31, 2013. The Bank’s presence currently spans 19 countries, including India.