The government has entered into a deal with HDFC Bank, where 300,000 Common Service Centre operators in rural areas will help rural citizens with banking activities. Under the agreement, Village Level Entrepreneurs — which is the term the government uses for CSC operators — will work as banking correspondents for HDFC Bank. This will make banking services more accessible in rural areas, the government said. What CSC operators will be doing Banking correspondents are employed in places where bank branches don't exist. They provide services like processing loan applications and disbursing Direct Benefit Transfer payouts. They also sell mutual fund/pension-related products and do a lot of the individual customer-facing work that a regular bank branch engages in, including cash withdrawals and deposits. CSCs do things like provide internet access and sometimes act as Aadhaar registration centres. They also help citizens register complaints and grievances, and help access to government websites. There are around 290,000 CSCs in India. In June, IT Minister Ravi Shankar Prasad said that CSCs would be used for banking services, and this is the first concrete step towards that announcement. Prasad added that he wanted CSCs to provide other services like train bookings and WiFi hotspots. Read: The problem with white-label banking correspondents for payments banks
- The Fine Line: Regulating Real Money Gaming in India #QuickTake February 4, 2023
- Join the Club: Along with Telegram, WhatsApp Also Faces Copyright Infringement Cases at Delhi HC February 4, 2023
- Microsoft Teams Premium to incorporate ChatGPT: 4 key take aways February 3, 2023
- Update: Supreme Court Asks Indian Govt to Produce Records Issued To ‘Block’ BBC Documentary February 3, 2023
- RTI: Nearly 5,000 URLs blocked under Section 69A in the first 10 months of 2022 February 3, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...