IndusInd Bank ties up with Mahagram to develop digital payments system

Mahagram (Rural NEO Bank) has signed a partnership with the IndusInd Bank to digitize the nation’s payment ecosystem and provide a wider scope to transact for its customers in rural India.

Aim: To boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy, and accelerate the growth of a cashless society.

Mahagram was founded in 2015 to enable rural women to save money at the local Kirana stores.

Mahagram CEO: Ram Shriram.