Akshaya has played a pivotal role in setting up banking kiosk in Common service centers as part of Government of India Financial Inclusion Plan.

1. Financial Inclusion powered by rural technology empowerment

2. About “AKSHAYA”
Launched in 2002 as an e-Literacy initiative set up by Kerala State IT
Mission and spread out across the state by 2007
Transformed itself as ICT Citizen Service Delivery chain by end of the
decade
2621 Akshaya e-Centres across Kerala - 87% in rural areas
Monitoring and handholding provided by offices at state and district
levels
Delivering G2C and B2C online services to the citizens - focus on
segments who cannot afford to access online services by themselves

3. About “AKSHAYA”
PPP Model - entrepreneurs (ACEs) selected through recruitment
process to run Akshaya e-Centres at locations proposed by LSGI
Creating rural economic development and employment opportunities
Joined with with CSC SPV - the initiative of GoI for online service
delivery to add further to the bundle of services – 200 plus services
Opening up online service delivery to rural masses - thereby empowering
Governments and Business Enterprises to make more services
available through Internet
UID Enrolment Agency with proven record for quality - one of the best in
the country – 700 + UID Stations, 1.75 Crore enrollments.

4. Objectives of Service delivery through Akshaya
To bring out ICT access to all geographical and economic
segments of the population to lead the society towards
• improved quality of life
• accessibility to information - from govt and market without
exploitation or corruption and at minimum cost
• transparency in governance
• overall socio-economic growth
Akshaya made government more accessible to the people as it’s friendly face

5. Infrastructure and reach of Akshaya
• Limited the no. of Akshaya centres per LSGI - Min. distance
of 2km between two centres
• Three tier process for selection of ACEs - coordinated by
LSGI, District Administration and KSITM
• Minimum specification 300 sq. ft. space, 3 computers, high
speed internet, peripherals like printer, scanner, webcam etc
• Monitoring and handholding at state & district levels
• Transparent tariff/commissions system designed for services

6. Connecting to the Financial Inclusion Mission..
Department of Financial Services issued
guidelines to all the Public Sector Banks on 20th
December, 2012 regarding engagement of CSCs
as BCAs
2013 April - Akshaya joined the mission as a
natural choice for the banking sector of the state -
entered into SLA with 13 leading Banks for
opening Banking Kiosks at Akshaya e-Centres
Target - no frills bank accounts for citizens who are not yet part of banking
. With the launch of Pradhan Mantri Jan-Dhan Yojna (PMJDY) in August, 2014, the CSCs as
Bank Mitras / Banking Correspondent Agent (BCA) at the Gram Panchayat level have
now become the extended arm of the Banks. These BCAs have a vital role in successful
implementation of Financial Inclusion and PMJDY.

7. Objectives of Financial Inclusion
Delivering banking outside branches, to doorstep of citizens
Enabling transactions through bank and make it preferred over cash
transactions
Enabling common man for transparent DBT of grants, subsidies and
scholarships
Making fair cost credit accessible to the poor and check exploitation of private
moneylenders
Making savings & investment opportunities accessible to poor and giving
financial awareness

8. Kiosk Banking vs. Traditional Banking
More accessible to citizen - more no. of points of presence than bank branches
Akshaya centres are more approachable for low volume transactors and the service
aligns well with the general objectives of Akshaya Project
Reduces footfall at bank branches
Secure transactions by fingerprint authentication of customer (AEPS) as well as
operator - even for account opening
No need of passbook or even account number for banking transactions
Micro-ATMs for card based transactions
Account opening also paperless via e-KYC
Administrative costs saved for banking transactions
At bank branch Rs. 60/- whereas at kiosks its a maximum of Rs. 25 per transaction

9. Banking Kiosks - for sustainable business
Even as more and more government and business transactions switch to the
online track, the common service centre model in Kerala would be saturated
faster than other states - owing to excellent penetration of Broadband and
Mobile Internet which enables citizens to avail online services on their own
Anticipating this slow down in near future it was important for Akshaya to
explore new avenues of service beyond e-Governance
Financial Services industry is experiencing a boom like never before as a result
of FI initiatives and increasing financial awareness of citizens
With financial businesses trying to increase their Points of Presence at lower
costs; banking and insurance correspondence was seen as a key component
for establishing a long term sustainable business model for Akshaya

10. Over the hurdles - challenges dealt with..
Finding ACEs with aptitude for banking and imparting them necessary skills
Orientation training and IIBF Certification provided to ACEs with the support of Lead Banks
Lack of support / Inertia from banking personnel at grass root level
FI orientation and meetings b/w Akshaya and Bank Managers to create awareness of RBI and
GoI policies towards establishment of banking kiosk
Akshaya made a part of State Level Banking Committee
Lack of public acceptance being a third party handling banking
Block Level Banking Committees coordinating public meetings to introduce Kiosks
Recognized signages and unique Kiosk Codes supplied
Hesitation of target population to enter banking system

11. Paper to Plot: Implementation
Banks create necessary software infrastructure - portals & specifications
ACEs are selected on the basis of their interest and directed towards training
and certification at district level by Lead Bank and Akshaya District Office
Kiosk Code, User Credentials and Settlement account provided by the banks to
the kiosk operators (ACEs)
Hardware and software requirements at kiosk implemented by ACEs under the
guidelines and assistance from Banks
Target population of 1.25 Cr. - Unorganized labourers, MNREGA workers,
beneficiaries of social welfare schemes

12. Monitoring & Control Mechanisms
Commissions at fixed rates paid by bank through account on a monthly basis
Constant monitoring and technical support provided by exclusive FI wing of
Akshaya with points of contact at state and district levels - resolution of basic
technical issues faced by KOs undertaken by Akshaya Dist Offices
Akshaya District Office, Lead Bank, DLBC and BLBCs work together for proper
implementation and resolving issues at local level
Seamless liaison between State HQs of the Banks and Akshaya Project Office
on policy level decisions and overall monitoring of the project

13. Banking Products tailored for the common man
Zero balance savings account - limited to individuals
who do not have a/c
AEPS based transactions upto Rs. 10000
Fund transfer (NEFT) upto Rs. 10,000
IMPS upto Rs.10,000
Loan repayments
RD Accounts
Insurance and Pension Enrolment and Remittances
Card transactions with micro-ATM/Pinpad

14. Association with Banks
SBT and SBI together account for
over 70% kiosks
Both the banks together account for
84% of transactions and 65% of
total accounts opened for Kiosks
Over 95% Aadhaar Enabled
Payments made through State
Bank Kiosks
Canara, KGB, PNB, Federal, Vijaya,
South Indian among others

15. Penetration of Banking at Akshaya centres

16. Success of Banking Service Delivery
Many localities that did not have bank branches in nearby vicinity were able to
access banking services closer by - eg. Mankulam (Idukki dist-W. Ghats)
2 lakh lakh SB accounts opened through Kiosks
RD account penetration increased
PMJDY - Over one lakh accounts opened through Akshaya Banking Kiosks
PMSBY, APY - high penetration with the help of Akshaya Kiosks
25 Cr. worth transactions completed
5 Cr. worth deposits generated from rural areas
Avg Rs. 4000 earned by Kiosks as commission

17. Future of Banking Kiosks
Enhance transaction volumes through kiosks
Revision of transaction/Balance limits for kiosk opened accounts to
accommodate more customers and improve business volume
Add more banking products to the offerings including those outside current
target group - thus to enhance business viability for Kiosk Operators
IMPS and micro-ATM already enabled
Credit processing at subsidized rates to sectors like farming through kiosks
Establish banking kiosks at all Akshaya Centres by arranging financial as well
as skill acquisition assistance
Promotion and distribution of other govt pension and insurance schemes

18. QUESTIONS??
Jayakumar P P
Manager eGovernance & Networking
Akshaya Project - 9847435193