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ICICI Bank Signs MoU to Launch Online Electricity Bill Collection Service for APEPDCL Customers

ICICI Bank has signed a Memorandum of Understanding (MoU) with Andhra Pradesh Eastern Power Distribution Company Ltd (APEPDCL) to launch online electricity bill collection for the customers of APEPDCL. The service, christened ICICI Bank-Eazy Pay, will enable anyone including non-customers of ICICI Bank, to conveniently pay electricity bills online on the website of APEPDCL. They will be able to do so by using multiple payment channels of debit or credit card, net banking and RTGS or NEFT transfer of any bank.


ICICI Bank is the first bank to sign a MoU with APEPDCL for online bill collection.


Mr. R Mutyala Raju, IAS, Chairman and Managing Director, APEPDCL said, “The MoU with ICICI Bank would benefit 52 lakhs consumers of APEPDCL’s jurisdiction of Srikakulam, Vizianagaram, Visakhapatnam and East & West Godavari districts.  The consumers can pay the electricity bills through on line payment options by using ICICI Bank-EazyPay.”


Mr. Avijit Saha, General Manager, ICICI Bank said, “We are delighted to associate with APEPDCL to extend our digital banking solutions to all customers of APEPDCL in the five districts of the state. The new service will enable them all to pay their electricity bills online at the click of a button. This initiative is in line with ICICI Bank's philosophy of 'khayaal aapka' wherein we keep our customers’ convenience first.”


ICICI Bank has 4054 branches and 12964 ATMs in the country (as on September 30, 2015). It has over 120 branches and more than 316 ATMs in Andhra Pradesh.


The Bank services its large customer base through a multi-channel delivery network of 4054 branches, the largest among private sector banks, 12,964 ATMs (at September 30, 2015), call center, internet banking (www.icicibank.com), mobile banking, banking on Facebook & Twitter as well as its digital bank on mobile, Pockets. For news and updates, visit www.icicibank.com  and follow us on Twitter at www.twitter.com/ICICIBank


About ICICI Bank Ltd: 

ICICI Bank Ltd (NYSE:IBN) had consolidated total assets of US $ 132.17 billion at March 31, 2015. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 17 countries, including India.


Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. All reference to interest rates, penalties and other terms and conditions for any products and services described herein are correct as of the date of the release of this document and are subject to change without notice. The information in this document reflects prevailing conditions and our views as of this date, all of which is expressed without any responsibility on our part and is subject to change. In preparing this document, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank. Any reference to the time of delivery or other service levels is only indicative and should not be construed to refer to any commitment by us. The information contained in this document is directed to and for the use of the addressee only and is for the purpose of general circulation only.


 For media queries, write to us at: corporate.communications@icicibank.com