New Banking Mandate From Regional Rural Bank

SAMVRIDDHI got the mandate for creating 65Customer Service Points (CSPs) from a Regional Rural Bank (SKGB) sponsored by StateBank of India, the largest commercial Bank in India in the State of Bihar,India.

The Bank has also mandated SAMVRIDDHIto create 22 Ultra Small Branch (USB) out of 65 CSPs as per the Government ofIndia guidelines to distribute various subsidies granted to the Bottom of thePyramid people through these USBs. Besides, there are at least 32 schemes wherethe benefits are to be transferred to the beneficiaries and adoption ofelectronic benefit transfer would greatly enhance the efficiency of suchtransfers, besides reducing the scope of malpractices. In this project, theBank has provided Financial Inclusion software taken from ‘c-edge’, a Technology outfit jointly promoted by State Bank of India and TCS (TataConsultancy Services).