In pursuance of the RBI guidelines issued in September, 2010, as part of its Financial Inclusion mandate, announced in the Annual Policy Statement for the year 2010-11, CSC E-Governance Services India Limited was engaged
as a corporate Business Correspondent by various Banks (Public Sector Banks, Regional Rural Bank and Private Sector Banks) for enabling CSCs to become Business Correspondent Agents/Customer service points to deliver
various banking and financial services in a number of States across the country some of them are as:
- Account opening (Manual or eKYC)
- Depositing money
- Withdrawal of money
- Enquiry of balance
- Recurring/term deposit
The Government of India adopted 'National Pension System'(NPS) with an objective to bring central and state government employees under universal security system from 1stJanuary, 2004. NPS was based on individual retirement
accounts (IRAs). An individual would save and accumulate assets through his entire working life. Upon retirement, the individual would be able to use his pension assets to buy annuities from annuity providers and obtain
a monthly pension.
NPS is based on a unique Permanent Retirement Account Number (PRAN) which is allotted to eachSubscriber upon joining NPS. NPS accumulates savings into subscribers PRAN while he is workingand using the accumulations at retirement to procure a pension for
the rest of his life.
PFRDA has also made NPS available to all citizens of India, including the unorganized sector workers, with effect from 1st May, 2009 on a voluntary basis. PFRDA has also launched aseparate model to provide NPS to the employees of corporate entities, including
PSUs sinceDecember 2011. This model is titled"NPS - Corporate Sector Model".
Country's retail payment platform NPCI and CSC e-Governance services India Limited have jointly launched Aadhaar enabled payment system (AePS) on 09 January, 2016. Under this CSC-SPV has launched AePS service in the form
of DigiPay at all CSC locations across the country that will facilitate 'anytime, anywhere’ authentication to its beneficiary.
The DIGIPAY application focus to achieve inter-operability between banks for Aadhaar based payment transactions that enable CSCs to cater the need of financial services in far flung and banking deprived areas of the country.
This system facilitates disbursement of government entitlements like payment under MGNREGA, social security pension, Handicapped, and Old Age Pension, etc of any Central or State Government bodies, using Aadhaar and
authentication thereof as supported by UIDAI. This system is based on demographic and biometric/iris information of an individual, which eliminates the threat of any fraud and non-genuine activity. Aadhaar will facilitate
'anytime, anywhere, anyhow' authentication to its beneficiary.
DigiPay Services
Various services that can be managed through DigiPay are:
- Cash Withdrawal:
- Balance Enquiry:
- Domestic Money Transfer (DMT)
- Mini Statement:
- AEPS Cash Deposit: