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Financial Inclusion
BREDS ventured into financial inclusion space in July 2009 in collaboration with
ATYATI Technologies and disbursed more than 200 Crores government money
earmarked for NREGS and Social Security Pensions till date in over 800 villages
of Srikakulam district through its Business Correspondent Agents. BREDS also
ventured into the states of Uttar Pradesh, Bihar, West Bengal, Assam, Tripura,
Odisha, Meghalaya in 2010 and the details are as follows.
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S.NO
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States
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Partner Banks
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Technology Partners
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Current Status
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1
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Andhra Pradesh
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Andhra Bank
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ATYATI Technologies
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Disbursed more than Rs. 200 Crores earmarked for NREGS & Pension Payments for
the past 2 Years in Srikakulam District.
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2
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Assam
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United Bank of India
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ATYATI Technologies
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Enrollments are underway in more than 450 Gram Panchayats.
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3
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Bihar
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Punjab National Bank & United Bank of India
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ATYATI Technologies
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Got a mandate to work in 300 GPs spread across 12 districts of Bihar.
Opened more than 2Lakh “No-Frills” accounts and about to commence transactions.
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4
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Chhattisgarh
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Union Bank of India
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ATYATI Technologies
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Working in Mahasamund district and the distribution of Smart Cards is in
progress
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5
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Gujarat
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Bank of Baroda
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Tata Consultancy Services
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CSP Selection is yet to commence.
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6
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Meghalaya
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United Bank of India
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ATYATI Technologies
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CSP Selection is underway in 50+ GPs of Manipur
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7
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Uttar Pradesh
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Punjab National Bank
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ATYATI Technologies
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Got a mandate to work in more than 250 GPs and more than 2.5 Lakh “No-Frills”
are opened and Smart Cards distribution is in progress.
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8
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West Bengal
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Union Bank of India & Bangiya Grameen Bank
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ATYATI Technologies & Tata Consultancy Services
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Got a mandate to work in more than 3000 GPs. More than 3 Lakh “No-Frills” are
opened and Smart Cards distribution is in progress.
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9
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Tripura
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United Bank of India
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ATYATI Technologies
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Got a mandate work in 70 GPs and more than 70,000 “No-Frills” account are
opened. Smart Card distribution is underway.
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A CSP is appointed in every village and provided with 1 Laptop, 1 biometric
scanner, 1 web cam for the initial 3 months by Technology Service Provider to
open No-Frills account. Post account opening process, smart cards are
distributed to the villagers and CSPs will commence transactions in the
villages. Also, for every 30 CSPs an area manager is appointed and for every 4
area managers a 1 Tech Support Manager is recruited to address technical snags
and operational issues. CSPs act as an interface of bank in the villages, does
banking transactions and deposit the money in the designated bank accounts on
regular basis. A reconciliation team and a call centre at the head office will
track everything encompassing transactions in coordination with Technology
Service Provider and Banks.
Recently, BREDS hived off the entire business to a Gram Tarang Inclusive
Development Services due to regulatory issues.
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