Aksh Optifibre bags contract with Bank of Baroda

ANI | Updated: Sep 01, 2017 17:15 IST

New Delhi [India], Sep 1 (ANI): In accord with Prime Minister Narendra Modi's mission of 'Banking for Everyone and Financial Inclusion', Aksh Optifibre plans to setup 5,000 banking kiosks through its flagship services arm "1 STOP AKSH" as the national level bank correspondent for Bank of Baroda.

Under "1 STOP AKSH " the company is operating 10,000 plus existing e-Mitra kiosks in Rajasthan, out of which 500 plus are already serving as banking kiosks.

The company also plans to mobilize the rest of the "1 STOP AKSH" kiosks to offer 360 degree banking services, which will be operated on behalf of Bank of Baroda primarily in the rural areas.

The services offered will comprise of opening of saving bank, time deposit and recurring deposit accounts, and collection of biometric and demographic details, providing micro insurance and processing loan applications.

The key focus areas for Aksh will be to create awareness and educate rural habitants about savings habits, use of micro finance solution and RuPay card, along with imparting knowledge about optimal funds management practices and debt counselling.(ANI)

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