Axis Bank inks MoU with CSC to grow digital banking in rural India
Axis Bank, India’s third largest private sector bank has announced the 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.
On the occasion Mr. Pralay Mondal – ED Retail Banking, Axis Bank 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 entrepreneurs under digital India initiative of Govt. of India. CSC serves as delivery points 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).