Eko in partnership with Centurion Bank of Punjab has launched ‘Abhilasha’ - No Frills Savings Accounts in Uttam Nagar, New Delhi. This is a pilot project under Reserve Bank of India's Business Correspondent circular.
‘Abhilasha’ customers avail of deposit and withdrawal facility without the customer ever having to visit the ATM or branch thus enabling low cost ‘Branchless Banking’ using mobile phone as a channel.
All instructions are just dialing of numbers and hence even number literate customers can use. This innovative offering enables customers who have mobile phones to be banked - a first step towards profitable financial inclusion.
Customers can open their accounts and transact (deposits / withdrawals) at multiple ‘Eko Cash Points’ in their locality. They have all the protections extended just like any other depositor with a bank under Reserve Bank of India regulations.
Eko extends 3-level security to the customers for their financial transactions using their mobile phone, PIN number and Signature Booklet (filed for patent). Their relationship is managed and serviced through ‘Eko Relationship Officers’.
We are looking to ensure greater financial inclusion to increase the outreach of the banking sector and we wish to extend this low-cost infrastructure for financial transactions to all banks across India on a progressive basis.
Courtesy : FINANCIALEXPRESS.COM
‘Abhilasha’ customers avail of deposit and withdrawal facility without the customer ever having to visit the ATM or branch thus enabling low cost ‘Branchless Banking’ using mobile phone as a channel.
All instructions are just dialing of numbers and hence even number literate customers can use. This innovative offering enables customers who have mobile phones to be banked - a first step towards profitable financial inclusion.
Customers can open their accounts and transact (deposits / withdrawals) at multiple ‘Eko Cash Points’ in their locality. They have all the protections extended just like any other depositor with a bank under Reserve Bank of India regulations.
Eko extends 3-level security to the customers for their financial transactions using their mobile phone, PIN number and Signature Booklet (filed for patent). Their relationship is managed and serviced through ‘Eko Relationship Officers’.
We are looking to ensure greater financial inclusion to increase the outreach of the banking sector and we wish to extend this low-cost infrastructure for financial transactions to all banks across India on a progressive basis.
Courtesy : FINANCIALEXPRESS.COM