In 2010, the Reserve bank of India (RBI) issued guidelines to Banks for delivery of financial services through the CSCs to bring citizens in rural areas under the ambit of financial inclusion. CSC SPV has since partnered with 42 public and private sector banks and regional rural banks to leverage its last mile network to bring the unbanked, especially marginalized communities and women under banking. Under this partnership,CSCs across the country can become Business Correspondent Agents / Customer Service Points to deliver banking facilities to citizens, such as:
Opening of Accounts (Manual)Opening of Accounts (eKYC)Money DepositMoney WithdrawalBalance enquiryRecurring/Term Deposit
During 2016-17, banking services of 36 banks – 23 PSU Banks and 13 Rural Banks – have been made available through 11,940 BC Points across the country.During the financial year, 382.71 lakh transactions worth Rs. 5,70,163.61 lakh were done by these BCs.
During 2016-17, 1,26,309 VLEs have registered under Digi Pay service. Around 28.351 lakh successful transactions have been made at CSCs under Digi Pay to withdraw Rs. 17,901.89 lakh.