State Bank of India appoints Spanco as Business Correspondent

Date: 2 September, 2011

State Bank of India, the largest commercial bank in India has appointed technology infrastructure provider, Spanco as its Business Correspondent (BC) to open 200 + Kiosk banking outlets in the villages of Maharashtra. Spanco will be adding more outlets after December 2011.

Through Spanco's kiosk, citizen fingerprints will be recorded for banking transactions which will include cash deposit/ withdrawal, money transfers, loans etc. The account holder can also receive NSC and KVP certificates, invest in mutual funds and activate different accounts.

Spanco has a large network of more than 3000 VLEs or CSCs setup under the National e-Governance plan of Government of India operating in Pune, Satara, Solapur, Ratnagiri, Sindhudurg, Mumbai, Thane, Sangli, Kolhapur and Raigad. These CSCs already offer important G2C (Government to customer )services like Affidavits, Cast Certificate, Resident proof Certificate, Non CrËme layer Certificate, Ration Card, Domicile Certificate, Income Certificate etc.

"Spanco offers G2C services in 10 districts of Maharashtra through their Common Service centers (CSCs) and Spanco has plans to open about 10 lakh no frill accounts in the current financial year. Payments under various government schemes like NREGA, pensions will be routed through these CSC centers in the near future", said Mr. Dhananjay Vartak, Business Head, and Citizen Services at Spanco. Spanco plans to launch the National pension scheme from these CSCs thus introducing a large section of the rural population to the benefits available under different Government schemes, he added.