IndusInd Bank has partnered with TP Central Odisha Distribution Limited (TPCODL) - a joint venture between TATA Power and the Government of Odisha to introduce a fully digital network for facilitating electricity bill payments across 300 semi-urban and rural regions in the state.
Roopa Satish, Head – Corporate & Investment Banking, CSR & Sustainable Banking, IndusInd Bank said, “IndusInd Bank has over 20 lakh customers based in rural and semi-urban locations of Odisha. Majority of them had to spend a lot of time and effort traversing long distances to make utility bill payments. Keeping this in view, we are delighted to partner with TP Central Odisha Distribution Limited to facilitate electricity bill payments in a fully digital manner, through our vast network of Bharat Money Stores. We believe this will offer immense convenience to our rural customers as they will now be able to simply walk into their nearest Kirana shop and make payments in a seamless manner. We look forward to co-creating more such initiatives in the near future for our customers.”
M. Shenbagam, Chief Executive Officer, TP Central Odisha Distribution Limited “It’s always been our prime focus to enhance customer experience through numerous initiatives. Bharat Money Stores will help the people pay their electricity bills at their nearest location. This service is to make our rural customers' payment process as convenient as possible. We are delighted to partner with IndusInd Bank and co-create this payment option for enhancing our customer’s experience.”
Through a vast network of 'Bharat Money Stores', IndusInd Bank will enable nearly 30 lakh customers of TPCODL residing in semi-urban and rural areas of the state, to walk into their nearest Kirana store, and seamlessly pay their electricity bills.
Bharat Money Stores is a proposition by Bharat Financial Inclusion Limited which is a 100% subsidiary of the Bank.
With this initiative, IndusInd Bank will impact the lives of its over 20 lakh rural customers by making utility-based payment services available across the remotest areas of Odisha, without having to make the customer travel long distances.
To begin with, the Bank has empanelled more than 8500 Bharat Money Stores to accept bill payments using the Aadhaar Enabled Payment System (AEPS) and aims to scale it up further over the next few months.
At around 1.43 pm, IndusInd was trading at Rs1048.50 per piece up by 0.4% on Sensex. The stock has gained an intraday high of Rs1061 per piece in the early deals.