SAMVRIDDHI got the mandate for creating 65 Customer Service Points (CSPs) from a Regional Rural Bank (SKGB) sponsored by State Bank of India, the largest commercial Bank in India in the State of Bihar, India.
The Bank has also mandated SAMVRIDDHI to create 22 Ultra Small Branch (USB) out of 65 CSPs as per the Government of India guidelines to distribute various subsidies granted to the Bottom of the Pyramid people through these USBs. Besides, there are at least 32 schemes where the benefits are to be transferred to the beneficiaries and adoption of electronic benefit transfer would greatly enhance the efficiency of such transfers, besides reducing the scope of malpractices. In this project, the Bank has provided Financial Inclusion software taken from ‘c-edge‘, a Technology outfit jointly promoted by State Bank of India and TCS (Tata Consultancy Services).
SAMVRIDDHI inked Service Level Agreement with UNION BANK OF INDIA for carrying out EBT (Electronic Benefit Transfer) Scheme in the entire district of Sonepur in the State of Odisha (India). Prima-facie, around 96366 Job-Card holders would be eligible to get Social Benefit disbursements through EBT Schemes. SAMVRIDDHI has been mandated to create as many number of Bank Accounts through Biometric Smart Card. SAMVRIDDHI roped in one of the largest technology Companies in India like CanvasM, a JV of Tech Mahindra & Motorolla. SAMVRIDDHI has already created 139 Customer Service Points in the said districts. The Bank is in the process of allocating 2 more districts in Odisha to execute EBT.