CSC SPV and HDFC Bank sign agreement
Mumbai, July 4 (IBNS): CSC SPV and HDFC Bank signed an agreement to enable three lakh Village Level Entrepreneurs (VLEs) of the Common Services Centers to operate as Banking Correspondents of HDFC Bank.
The function for signing and exchange of agreement held between Managing Director, HDFC Bank, Aditya Puri and CEO, CSC SPV Dinesh Kumar Tyagi in the presence of Minister of Electronics & IT Ravi Shankar Prasad and Minister of State for Electronics & IT S.S. Ahluwalia on Wednesday at the Ministry of Electronics & IT, New Delhi.
During the programme, Minister Ravi Shankar Prasad said, “Under the agreement, VLEs of CSC will work as Banking Correspondent of HDFC Bank and support the Government initiative to promote financial inclusion and make banking services more accessible in rural areas. This agreement is expected to be a game changer as it would significantly contribute to Government’s objectives of enabling Direct Benefit Transfer (DBT) of various schemes.”
The Minister added, “Women, senior citizens and persons with disability will especially get benefitted through this initiative as it would enable withdrawal of financial benefits sent through DBT at CSC, without the need for visiting bank branch. This will facilitate withdrawal and deposit of government entitlements such as payments under MGNREGA as well as various social welfare schemes like widow pension, handicapped and old age pension, etc. He mentioned that it will also help HDFC Bank in getting rural outreach for selling their product and services.”
The Minister thanked Aditya Puri for signing this agreement which will benefit the CSCs and support government initiative in promoting rural entrepreneurship.
Dinesh Kumar Tyagi, CEO, CSC SPV asserted, “Now, with this agreement, the large network of CSCs will enable rural India to get benefit. It will empower people in terms of financial inclusion, in terms of availing benefits, loans, etc. Apart from this, we have the objective to set up one sanitary napkin unit in every block and HDFC Bank’s contribution in this area will also be a milestone in this mission. We are very grateful to the HDFC Bank for their help.”
“We are proud to partner in this noble endeavour of the Government to make the lives of people better,” said Aditya Puri, Managing Director, HDFC Bank.
“This ties in well with our ongoing social programmes which straddle financial literacy, financial inclusion and skilling at the bottom of the pyramid. This partnership is one more step in this direction,” he added.
The MD, HDFC mentioned that it is proposed to promote 1000 villages as DigiGaon within this financial year in collaboration with CSC SPV. Under its’ commitment to enhancing women’s health and hygiene, the HDFC Bank will also support CSC SPV by funding Stree Swabhiman Sanitary Napkin Manufacturing Units.
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