Besides, the bank's customers will have access to "instant small ticket digital credit" that will be determined on the basis of a real-time credit assessment algorithm created by ICICI Bank.
ICICI Bank will also offer a 'Pay Direct' card for Ola's driver partners. It will also launch a co-branded credit card with the SoftBank-backed company that will offer exclusive offers like cashbacks and accelerated reward points to customers.
"Mobility and banking, both play a key role in fostering inclusive growth and creating lasting development benefits. This alliance will provide increased convenience to customers on both the platforms, as well as hundreds of thousands of driver partners," Ola co-founder and CEO Bhavish Aggarwal said.
Anup Bagchi, Executive Director at ICICI Bank, said these new propositions will help Ola driver partners to manage their finances in a better way. It will also enable Ola customers to get easy access to instant credit in a simple and secure manner, he added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)