Strategic Projects

Conecting India with e-Digital

We endeavour to take part in building India's retail financial services infrastructure and wealth-building potential. Through an array of our Strategic Projects, we aim to leverage the emerging technology in India in order to provide basic financial services to the unbanked households.

Through our Strategic Projects, our basic objective is to address consumer dynamics and drive the demand for high-cost financial services among Indian households. Most importantly, we wish to confront the difficult task of promoting household savings and investment and convert the current spending into savings and wealth creation.

To fulfil our vision of providing affordable financial services to rural households, we shall work with the vast and geographically well-positioned retail infrastructure network of banks and credit unions. Services falling under this category include providing non-bank check cashers, payday lenders and short-term loan providers to the unbanked common man


Through our tie-up with 31 banks and our outsourced model, we provide end-to-end banking services in India. Through the best breed of functional modules, we aim to provide access to real-time basic banking transactions with technologydriven real-time connectivity at Gram Panchayat level, besides a host of Banking and Insurance services. In addition, these Brick & Mortar branches will offer a host of G2C and B2C services, becoming a one-stop shop for India’s under-served population.

Our intent of setting up and managing a robust framework of ultra small branches across India is yet another step towards financial inclusion. Branded as IndoBaroda Kendras, these outlets provide banking and BFSI services to the under-served population of India with an objective of inclusive growth.

IndoBaroda Kendras are our touch-points to deliver services to citizens through our cutting-edge technology. More than 8500 of these IndoBaroda Kendras are already operational. Through IndoBaroda Kendras, our aim is to ensure efficiency, transparency and reliability of services at affordable costs to realise the common man’s basic needs. Our B2C services will range the entire income spectrum of services – from direct cash disbursement and recharge coupons to delivering items such as automobiles or high-end consumables.

White Label ATMs

The Reserve Bank of India (RBI) has licensed us to set up and manage a minimum of 15,000 White Label ATMs across India within three years. We are required to implement this roll out at the rate of 5,000 ATMs a year (beginning January 23, 2014) and maintain a Rural-to-Urban ratio of 2:1, i.e., for every White Label ATM set up in Tier I or Tier II centres, we will need to establish two White Label ATMs in Tier III to Tier VI centres (with a minimum of 10% of ATMs in Tier III to Tier VI centres to be opened in Tier V and Tier VI centres).

We will earn revenues from participating banks who will pay us a transaction fee for every transaction (financial and non-financial transactions) conducted through our White Label ATMs.

We intend to establish White Label ATMs near or within our IndoBaroda Kendras to increase revenues and cost synergies. We also intend to make our ATMs biometric-enabled to enable people to access and conduct ATM transactions using their fingerprints in addition to bank cards. We believe that there is a growing market for ATM services in India given the extent of completed enrollments in the UIDAI project across India, which will result in more people having access to biometric-enabled ATMs than was previously possible using ATM cards. A portion of the proceeds from the offerings are intended to be deployed in implementing our White Label ATM roll out plan across India