At present the bank has appointed 6 Technology Service Providers who provide end to end solution to carry out banking operations through branchless banking model. The bank has engaged BC along with its technology team with the help of enrollment stations comprising of a MicroATM/ Laptop, web camera and finger print capturing machine to enroll the beneficiary. The data recorded in computer includes Demographic details such as Name, address, father's/husband's name, occupation, annual income, category etc. Thereafter, impressions of all the ten fingers are captured and stored in the Bank’s Server.

On the basis of the data captured with simplified KYC norms the bank opens a Basic Saving Bank Deposit Account. The data thus captured is stored in CBS.

The account holder is issued RuPay cards, through which the customer can withdraw money from BC/Branch ATM.

Apart from normal account opening as mentioned above, now most of the new accounts are opened through e-KYC, where customer is authenticated by UIDAI; and the fingerprints, in such case, is not stored anywhere by Bank

The account holder can also transact through Aadhaar in which the Aadhaar of the customer is seeded with account. Such transactions are done through AEPS platform where customer is authenticated from UIDAI

Depending on the nature of the transaction, the agent either receives the cash from or pays cash to the accountholder. After completion of the transaction; the MicroATM generates a receipt to that effect in duplicate of which one copy is given to the account holder.(duly signed by the agent)

All the transaction happen in real time and customers account is credited or debited in real time in CBS System.

Under PMJDY Bank is allotted 18396 villages in 5407 SSAs under Financial Inclusion initiative in Aug 2014. These SSAs are covered by appointing 5407 Bank Mitrs; Pan India 241.97 Lakhs accounts are opened under FI with deposit of Rs. 2654.46 crores. Outstanding under Microfinance through BC model is Rs 654.93 crores upto 31st December 2016 .

What is a Business Correspondent model ?

In this innovative model, banks may use intermediaries, for providing facilitation services, such services may include :

• Identification of borrowers and fitment of activities
• Collection and preliminary processing of loan applications
• Creating awareness about savings and other products and education and advice on managing money and debt counselling
• Promotion and nurturing of Self Help Groups/ Joint Liability Groups
• Post-sanction monitoring
• Monitoring and handholding of Self Help Groups/ Bank Sakhi’s Joint Liability Groups / Others
• Follow-up for recovery
• Disbursal of small value credit
• Recovery of principal or interest
• Collection of small value deposits
• Sale of micro credit products, mutual funds, insurance etc
• Receive and delivery of small value remittances and other payment instruments