Jagadish was at a stage in life when he felt life had overtaken him. "Zang kha raha tha mein aapka BCO shuru karne say pehle" (I was rusting before I started your BCO), he confessed while accepting the Sub-K award for 1000+ customer registrations in record time... from around his village Tain, in Nuh block of Mewat district, Haryana.
A grand-dad of 7, he has transformed himself from an ordinary merchant into a prestigious banker who brings services of Syndicate Bank to his customers. In a short 4 months he has generated over Rs. 400,000 in deposits and 75% of his customer base transact regularly... conducting withdrawals, fund transfers and balance inquiries using Sub-K's patented mobile & biometric based real-time online transaction engine.
Customers are delighted not only by the convenience Jagadish's shop brings in terms of banking hours and amounts, but also by the fact that he has a loan officer from Syndicate Bank sit at his outlet (BCO) once a week to evaluate and disburse loans. "Over Rs. 25 lakh (2.5 million) of loans in my village have been approved by the Bank", he gushes!
We dedicate our homepage this quarter to the many grandfathers of the Sub-K community who are transformers of thousands of Sub-K villages in India. Thank you Jagadish!
Click here to meet more Homepage Qualifiers over the quarters...
T O P I C S
- BASIX Sub-K iTransactions Limited (Sub-K), a BASIX Group company, provides residents of rural, urban and semi-urban areas with a mobile technology based transactional platform for access to digitized services. These could include Banking Services, Savings, NREGA and other Government Payments, Money Transfers, Utility Payments, Prepaid Mobile Top-ups and others, enabled through a network of Basic Convenience Outlets (BCO) operated by company agents. Sub-K works on appointing service providers / banks at one end and BCOs at the other to bridge the digital divide and create a more prosperous, ‘financially included’ society.