Innovative and tailored banking

Date Shared:

Thursday, October 6, 2016 - 19:15

Countries and areas:

India

2030 Agenda migration-relevant and related target Labels:

Goal 10: Reduced inequalities - 10.c on remittances costs reduction

GCM Thematic Cluster Areas:

Objective 20: Promote faster, safer and cheaper transfer of remittances and foster financial inclusion of migrants

Contributors:

Business

International Organizations

Chairmanship:

Bangladesh 2016

Geographical Relevance:

National

Tags:

Migration, Trade and Investments, Remittances, Costs of Migration

Summary:

The Indian ICICI Bank offers hybrid solutions with remittance kiosks and ATMs in migrant areas and dormitories. Kiosks in Singapore and Bahrain can be used to transfer funds to India on the same day. ICICI sees mobile banking as a powerful medium for further financial inclusion.

Link:

See, for e.g., https://www.icicibank.com/nri-banking/relocating-abroad/going-for-work.page?

GFMD Source:

GFMD 2016 RT 1.1 "Reducing Migration Costs"