IndusInd Bank partners with TP Central Odisha Distribution Limited to launch a fully digital payment network in state

Bhubaneswar: IndusInd Bank announced that it 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.

IndusInd Bank through its vast network of 'Bharat Money Stores', a proposition by Bharat Financial Inclusion Limited which is a 100% subsidiary of the 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 pay their electricity bills in a seamless manner.

Speaking about the partnership, Mrs. 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. The 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 in to 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.”

Also added, Mr. 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 bill 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 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. 

About IndusInd Bank
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on March 31, 2021, IndusInd Bank has 2,015 Branches/ Banking Outlet and 2,872 ATMs spread across geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX and NMCE. IndusInd Bank was included in the NIFTY 50 benchmark index on April 1, 2013.