Financial Inclusion

IL&FS Education is one of the major implementing agencies in the Financial Inclusion (FI) programme and works as as a System Integrator(SI) or Technology Service Provider (TSP) partnering numerous major banks & State Governments including State Government of Rajasthan (GoR) , to provide extensive and easy banking facilities to both the rural and urban unbanked population

We offer branchless banking facilities at numerous locations. We assist in beneficiary enrolment under various schemes and also facilitate monetary transactions & transfers using appropriate technologies like online/offline biometric authentication, smart card based authentication, and mobile based applications using SMS and GPRS. We also facilitate Business Correspondent (BC) and Business Facilitation (BF) services.

We cater to the requirements of banks and service providers to manage Government provided Electronic Benefit Transfers(EBT) to beneficiaries under various schemes including Entitlement Benefits like MNREGA, Social Security Pension(SSP) etc

Our service value chain spans all major financial inclusion phases including the:

  • Preparatory Phase – This includes scheduling of enrolment camps, finalization of Smart Card and Point of Service (POS) devices vendors, and business correspondents
  • Implementation Phase – This includes enrolment of customers or beneficiaries, account opening, smart card personalization & distribution to designated beneficiaries or customers and POS deployment
  • Operational Phase – This includes activation and maintenance of bank accounts, providing branchless banking services through POS

Our operational capabilities include:

  • Camp mode enrolment, enrolment application for account opening data, photo & biometric capture, and digitization of account opening data
  • Data migration and technical support
  • Facilitating Business correspondents including management of POS operator network that comply with RBI guidelines
  • POS terminals with customized applications which is IDRBT Compliant
  • Smart cards with captured biometrics of customers
  • Key Management Systems (KMS) for bank

Some of the highlights of our successes include our partnerships with:

  • Central Bank of India
  • Punjab National Bank
  • Allahabad Bank
  • State Bank of India
  • State Bank of Bikaner and Jaipur
Financial Inclusion 1

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YPP Programme Structure

YPP Programme Structure