Directory of the Business correspondents in India - Microfinance ...
Directory of the Business correspondents in India - Microfinance ...
Directory of the Business correspondents in India - Microfinance ...
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<strong>Bus<strong>in</strong>ess</strong> Correspondents <strong>in</strong> <strong>India</strong>Commonwealth Inclusive Growth Foundation(CIGF)Year Established: 2009Legal Form: Section25 <strong>of</strong> <strong>the</strong> Companies Act, 1956Registrations No:SRN A54044268Total Customers:~50,000 CustomersStates <strong>of</strong> Operations:Tamil Nadu, Karnataka (Proposed to commence),Andhra Pradesh (Proposed to commence)Partner<strong>in</strong>g Bank:In Tamil Nadu - ICICI Bank, <strong>India</strong>n Bank,Lakshmi Vilas Bank, In Karnataka - <strong>India</strong>n BankIn Andhra Pradesh - <strong>India</strong>n BankTechnology Partner:CIGS; TCS; Atom TechnologiesOverview <strong>of</strong> <strong>the</strong> Organisation:Commonwealth Inclusive Growth Foundation (CIGF) is a Section 25 Company and it is a non-pr<strong>of</strong>itorganization. CIGF will engage <strong>Bus<strong>in</strong>ess</strong> Correspondents (BC) for ‘last-mile’ delivery <strong>of</strong> f<strong>in</strong>ancialservices like micro-f<strong>in</strong>ance, sav<strong>in</strong>gs and o<strong>the</strong>r f<strong>in</strong>ancial services, through <strong>the</strong> CommonwealthF<strong>in</strong>ancial Inclusion Card Solution on behalf <strong>of</strong> banks <strong>in</strong> <strong>India</strong>.Products Offered:1) Name <strong>of</strong> <strong>the</strong> Product: F<strong>in</strong>ancial Inclusion2) Category <strong>of</strong> Product: Sav<strong>in</strong>gs, Remittance, Insurance3) Outreach (Number <strong>of</strong> Clients): ~ 50,000 customers4) Key Feature and Benefits <strong>of</strong> <strong>the</strong> Product:The F<strong>in</strong>ancial Inclusion Solution <strong>of</strong> CIGS, one <strong>of</strong> <strong>the</strong> TSP Partners <strong>of</strong> CIGF, is Interoperable,across <strong>the</strong> BC Agents <strong>of</strong> <strong>the</strong> same bank as well as o<strong>the</strong>r banks. Fur<strong>the</strong>r, a host<strong>of</strong> Delivery Channels, like, EDC Mach<strong>in</strong>es, ATM, Mobile, IVR, Internet Bank<strong>in</strong>g, etc.,could be enabled, to give <strong>the</strong> customers a wide variety <strong>of</strong> choices & convenience.Currently, customers would be able to get <strong>the</strong> services from any <strong>of</strong> CIGF’s BC Agents <strong>of</strong> <strong>the</strong>Partner Bank. As and when FI Inter-operability gets regulatory approval, <strong>the</strong>se customers wouldbe able to avail <strong>of</strong> <strong>the</strong> FI services from any <strong>of</strong> <strong>the</strong> BC Agents / CSPs. Inter-operability, besidesimprov<strong>in</strong>g <strong>the</strong> customer service, also improves <strong>the</strong> chances <strong>of</strong> BC viability.Similarly, as and when <strong>the</strong> Partner Bank and regulatory mandate is <strong>in</strong> place, <strong>the</strong> FI customerswould be able to enjoy <strong>the</strong> benefit <strong>of</strong> access<strong>in</strong>g multiple Delivery Channels, like, ATM, MobileBank<strong>in</strong>g, etc.(CIGF)Contact Person: Mr. Mahesh RamachandranPostal Address: New No.514 (Old No.158) T.T.K. Road, Alwarpet, Chennai -600 018Telephone: 044 – 3918 4046Fax: 044 – 3918 4045Email:ceo@cigs.<strong>in</strong>Website:www.cigf.<strong>in</strong>; www.cigs.<strong>in</strong>4Commonwealth Inclusive Growth Foundation
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