Common Service Centre Program- The government of India's Ministry of Electronics & IT (MeitY) has launched the Common Services Centre (CSC) program. Providing digital and financial inclusion through CSCs enables villages in India to access various electronic services.
Services for VLEs
Business Correspondent (BC)- A commercial correspondent is a representative of a bank. In order to open a bank account, they assist villagers. In exchange for opening new accounts, processing transactions, processing loan applications, etc., Business Correspondents get commissions from banks. Mobile devices are carried by the Business Correspondent, who assists villagers with their banking transactions. Depositing money, withdrawing money from an account, taking out loans, etc.). By signing electronically or making a thumb impression, the villager obtains the money.
Kiosk Banking- In essence, financial inclusion is ensuring that vulnerable groups, including weaker sections and low-income groups, have access to financial services and timely and adequate credit where there is a need at an affordable cost. KIOSK banking is a concept that is specifically designed for areas where banks are scarce and people cannot reach banks to access their services.
In addition to providing basic banking services such as cash deposits, withdrawals, and remittances, the kiosks will also offer micro-credit and insurance products with the support of leading banks in the private, public, and cooperative sectors. All basic banking services will be offered by the kiosks, like in ordinary bank branches.