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Established by the Industrial Credit and Investment Corporation of India in 1994, ICICI Bank Limited had deposits of over *** Indian rupees in financial year 2021. The rise in total deposits went hand in hand with the rise in savings bank deposit accounts of the bank. Furthermore, the bank had the highest number of Basic Savings Bank Deposit Accounts in the country among other private banks that year.

Pradhan Mantri Jan Dhan Yojana

The Pradhan Mantri Jan Dhan Yojana, the financial inclusion program of the Indian government was established in 2014 with the aim to provide affordable access to financial services especially to the people in rural areas. This program was recognized by the Guinness Book of World Records for the highest number of bank accounts opened in one week as a part of financial inclusion campaign. ICICI Bank had the highest number of beneficiaries through the program as of 2020, among other private sector banks. However, HDFC Bank recorded the largest value of PMJDY deposits that year in this sector.

ICICI’s card-less cash withdrawal

The development of secure and easy mobile banking applications established by the banks, along with the coronavirus (COVID-19) pandemic had led to an increase in mobile banking payments. iMobile is the ICICI Bank’s mobile banking application. In **, it launched card-less cash withdrawal facility in over thousand ATMs in the country. This enabled customers to withdraw cash by using its mobile banking application instead of using a debit or credit card.