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Business Economy


CSC inks MoU with Axis Bank to improve digital banking in rural areas

CSC inks MoU with Axis Bank to improve digital banking in rural areas

New Delhi, Aug 14 (UNI) Axis Bank on Wednesday announced signing of an agreement with Common Services Centre (CSC) e Governance Services India Ltd to enhance digital and kiosk banking facilities in many rural unbanked and under-banked areas of the country.

Pralay Mondal– ED Retail Banking said, “CSC e Governance Services Ltd has been instrumental in furthering government’s initiative of Financial Inclusion and Axis bank would closely associate with CSC VLEs ( Village Level Entrepreneur ) and through them offer simplified banking solutions to the rural populace.

"As on quarter ended June 2019, Axis Bank had a network of 4094 domestic branches and intends to increase the bank’s footprint in rural areas through various distribution channels. This partnership with CSC would help us move in that direction.”

During the occasion, Dr. Dinesh Tyagi, CEO-CSC SPV said, “CSCs are digital access point operated and managed by village level entrepreneur under digital India initiative of Govt. of India. CSC serves as delivery point for financial product and Services mainly for rural citizen across the country. Association with Axis Bank would help in extending the reach of delivering financial services through CSC. This would also promote Financially Inclusive society.”

CSC e- Governance Service India Limited is a Special Purpose Vehicle (CSC SPV) incorporated under the Companies Act, 1956 by the Ministry of Electronics and Information Technology ( MeitY) to monitor the implementation of Common Services Centers Scheme (CSCs).

It provides a centralized collaborative framework for delivery to services to citizens through CSCs, besides ensuring systematic viability and sustainability of system.

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