Private sector lender, ICICI Bank has inked a deal with telecom service provider Aircel in order to carry forward its plan of financial inclusion.

The two entities have signed a memorandum of understanding (MoU) in this regard. They will both work together for providing banking services and financial products like savings account, instruments and credit products, the bank said in a release.

The bank will leverage on the high level of penetration held by Aircel in the distribution channel for both banked and unbanked sections.

A similar deal has been signed by the bank with Vodafone.