FINANCIAL INCLUSION. Insurance Services

Transcription

1 FINANCIAL INCLUSION

2 FINANCIAL INCLUSION Banking Services Insurance Services Pension Services Agreement with 42 banks in India including all 26 Public Sector Banks. More than 30,000 CSCs working as BCAs across the country Services Offered by CSC: Transaction Services Withdrawal of money Balance Enquiry & issue Receipts Statement of Accounts Disbursal of credit facilities Rural Authorised Person (RAP) is an individual who has a license to solicit or negotiate an Insurance Policy with a client. Services offered by CSC: Life Insurance Motor Third Party Personal Accident Insurance Cattle / Livestock Insurance Agricultural Pump Set Insurance Farmer s package policy Fire & Allied Perils Dwellings Insurance PFRDA is the regulator established by Govt. of India to promote old age income security Services Offered by CSC: NPS-Lite Swavalamban Yojna Renewal Collection Pension Calculator E-PRAN Printing Withdrawal forms Subscriber information update Statement of Accounts

3 Banking Financial Inclusion is an Integral Part of the CSC ecosystem with a clear focus on Banking for the unbanked. Apart from various Government to Citizen (G2C) services, CSC are actively offering Banking, Insurance and Pension services to the common man in there locality. Further, CSC SPV as a corporate Banking Correspondent has signed agreement with 42 Banks (Public Sector Banks, Regional Rural Bank and Private Sector Banks) to enabling CSCs to become Bank Mitr that deliver various banking and financial services in a number of States across the country.

4 Banking We Offer Universal Access to Banking Facility CSC SPV has signed agreements with 42 banks for offering their Kiosk Banking Services through the VLEs throughout the country. All the CSC outlets can now be appointed as Business Correspondent Agent / Customer Service Points of these banks and carry out banking transactions on behalf of the bank. Initially, Kiosk banking through CSC will provide the following services: Account Opening Cash Withdrawal Deposit Money Transfer Fund Transfer New insurance schemes registration VLEs shall earn commission prescribed by the Banks on Opening New Account Every Cash Deposit Every Cash Withdrawal Money Transfer Social Security Insurance and Pension Schemes or Any other services offered by the bank.

5 Banking Transactions Through Bank Accounts Micro ATM Salient features of POS facility: Minimum amount of withdrawal Rs.100/- (thereafter in multiples of Rs.100/- ). Maximum of Rs.1000/- per day per card. Cash withdrawal at POS available to all debit cards / Prepaid cards issued in India. Convenience fee fixed at 1% on State Bank group debit cards to be charged to the card holder. Minimum Rs.7.50/- Maximum Rs.10/- Incentive of Rs.5/- paid on each successful cash transaction to the merchant. Advantages to CSP: Reduces cost of cash handling. Increased customer loyalty. Potential source of revenue to the merchant. Re-circulate cash (better cash management). Aadhar Enabled Payment System AEPS is a bank led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication. The four Aadhaar enabled basic types of banking transactions are as follows:- Balance Enquiry. Cash Withdrawal. Cash Deposit IMPS IMPS (Immediate Payment Service) from Banks is an instant real time inter-bank electronic fund transfer service. Using this service, you will now be able to receive or send money even on Sundays and Bank Holidays or late at night. What's more, the money is credited in to the beneficiary account instantly

6 Banking

7 Opportunity in Life Insurance 7

8 Opportunity in General Insurance 8

9 WHAT WE OFFER Insurance Products Premium Submission Insurance Service Life Insurance General Insurance Renewal Collection from the subscribers of companies like LIC SBI HDFC ICICI DHFL etc Printing Aadhaar Authentication Claim Intimation Endorsements Financial Non- Financial 9

10 PRODUCTS General Insurance Life Insurance Motor Third party legal liability Personal Accident Insurance Cattle / Livestock Insurance Agriculture Pump set Insurance Farmers package policy Insurance Fire & Allied perils dwelling Insurance Variable Insurance Term Insurance 10

11 Current Status General Insurance Health Insurance Life Insurance In Progress United India Insurance Religare Health Insurance Aviva (RAP + Renewal) Canara HSBC Life (Renewal) New India Assurance Star Health Insurance India First (RAP + Renewal) PNB Metlife (Renewal) Future Generali Apollo Munich SBI (RAP + Renewal) Kotak Life Insurnace(Renewal) HDFC ERGO LIC (RAP + Renewal) IDBI Federal Life (Renewal) IFFCO TOKIO ICICI PRU (RAP + Renewal) Star Union Diachi Life Oriental Insurance HDFC Life (RAP + Renewal) AEGON Religare Bharti AXA Bajaj Allianz (RAP + Renewal) Edelweiss Tokio (Renewal) Reliance General DHFL (Renewal) National Insurance Reliance (Renewal) Royal Sundram TATA AIA (Renewal) TATA AIG EXIDE (Renewal) ICICI Lombard Future Generali (Renewal) Shriram Gl Birla Sunlife (Renewal) Universal Sompo Bharti AXA (Renewal) Shriram Life (Renewal) Max Life Insurnace(Renewal)

12 National Pension System We Offer Atal Pension Yojna NPS-Lite (Swavalamban Yojna) National Pension System- All Citizen Model

13 National Pension System 1) Any Indian Citizen age between 18yrs to 40 yrs. 2) Holds Valid saving bank account 3) Should not be covered under social security scheme 4) Can register online at any CSC 5) Shall choose desired Pension amount 6) Subscription amount will be debited from bank account 7) Withdraw Pension from the age of 60 yrs 1) Subscriber can deposit contribution under Swavalamban Yojna on more than 33,000 CSCs 2) Subscriber can avail services like a) Account statement b) E PRAN print c) Transaction statement d) Grievances redress

14 National Pension System 1) Any Indian Citizen age between 18yrs to 60 yrs. 2) Holds Valid KYC 3) Can Subscriber online to open NPS Account through CSCs 4) Shall pay the CSC prescribed amount to open account NPS account 5) Will get PRAN Card and other online access at door step from NSDL/CRA 6) Subscription amount will be debited from bank account or can be deposited through CSCs 7) Can avail services / assistance related to NPS account from CSCs 8) Withdraw Pension from the age of 60 yrs, directly into the bank account

15 UIDAI Thank You