ICICI Bank ties up with Niyo to issue prepaid cards to MSMEs
- ICICI Bank, a leading Indian private sector bank, and Niyo, a new age fintech company announced a tie-up to issue prepaid cards to Micro, Small and Medium Enterprises (MSMEs) workers.
- MSMEs will now be able to get ‘ICICI Bank Niyo Bharat Payroll Card’ powered by Visa, for their blue-collar workers.
- The ‘ICICI Bank Niyo Bharat Payroll Card’ allows an individual to receive funds up to Rs 1 lakh into the card account. It offers convenience and safety of digital banking to the blue-collar workforce while providing a state-of-the-art salary disbursement solution to the employers.
Related General Knowledge
Ministry of Micro, Small and Medium Enterprises, MSME
- The Ministry of Micro, Small and Medium Enterprises, a branch of the Government of India, is the apex executive body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India.
- Founded: 2007
- Headquarters: Udyog Bhawan, Rafi Marg, New Delhi - 110 011
- Jurisdiction: India
- Annual budget: 6,552.61 crores INR
- Departments: National Small Industries Corporation, National Institute of Micro, Small and Medium Enterprises
- Officeholders: Nitin Gadkari (Union Minister)