Demonetization: Ola and Yes Bank Join Hands to Deliver Cash to the Customers

The ultimate aim of the partnership will be to help users from wasting their time standing in long queues outside ATM’s only to find out that there is no enough cash.


Post demonetization, while our nation is transforming slowly into a cashless and digital economy, enterprises have been quick to make some profit under these circumstances.
Amidst the latest developments, taxi aggregator Ola and Yes Bank have joined hands in a bid to provide mobile solutions wherein the cabs will be used as micro ATM's powered by the bank.

Demonetization: Ola and Yes Bank Join Hands to Deliver Cash

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Commentating on the initiative, Yes Bank Senior President and Country Head, Rajat Mehta said that the partnership with Ola was a part of its commitment to provide optimum services to many customers as possible.

He further added that the bank and Ola had been working on a mobile solution, where the cab will come to customers to dispense money. The process looks to be almost complete and will be launched within a week or in ten days maximum.

PoS Terminals Across 30 Locations in 10 Cities

As per the scheme customers will be allowed to withdraw Rs. 2000 per card from PoS terminals from Ola cabs located near any Yes Bank Branch across 30 locations in 10 cities regardless of which bank the consumer has an account.

Mehta stated that till now the customer came to the Ola Cab, but now the Cab will come to the customers. They hope to reach a large customer base.

Moreover, the aim of the new scheme will be to help users from wasting their time standing in long queues outside ATM's and not find enough cash at the end.

Many Touch Points

Many Touch Points

In essence, Yes Bank wants to maximize its connection with the general public and intends to provide as many touch points as possible.

So in a few days time we might see stationary cabs stationed near Yes Bank branches and ATM's as well as high footfall areas which will provide service to the public.

In addition, the cabs will also move a little bit here and there during the day.

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Free Transaction

Rajat Mehta was also quick to add that no money will be charged by Ola cab for dispensing the money and it is more of a service gesture than a commercial strategy.

Furthermore, Mehta also indicated that Yes Bank will be working on other multiple initiatives with Ola and said that the entire drive was to serve not only Yes Bank customers but the general public.

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