We believe that access to technology and financial services gives power to citizens to improve their lives and impact our communities in positive ways. Semi urban, rural and remote communities are being connected with services and opportunities through digital and financial inclusion. Started in 2006-07, our Material Subsidiary, ZMPL was the first ever business correspondent in the history of Indian banking system. We provide a variety of products and services in India through our BLS Touchpoints and BC network, including PoS services, ticketing services, assisted e-commerce services, etc. Our presence in the local market and community help us to connect with citizens easily giving them better access to social and financial inclusion making it easy to establish trust and ensuring the sustainability of our business model (Source: CRISIL Report). Through our business model, we are able to provide a wide range of products and greater avenues to increase client penetration and stickiness.
The key initiatives launched by the Government to promote financial inclusion are the Pradhan Mantri Jan Dhan Yojana (“PMJDY”) and Pradhan Mantri Jeevan Jyoti Bima Yojana (“PMJJBY”). Under the PMJDY, the Government’s aim is to ensure that every household in India has a bank account which they can access from anywhere and avail of all financial services such as savings and deposit accounts, remittances, credit and insurance affordably. PMJJBY is a one-year life insurance scheme that offers a life cover of Rs. 0.2 million at a premium of Rs. 330 per annum per member, which can be renewed every year. The Government has also launched the Pradhan Mantri Suraksha Bima Yojana (PMSBY), an accident insurance policy that offers an accidental death and full disability cover of Rs. 0.2 million at a premium of Rs. 12 annually. As per the Government, more than 100 million people have registered for these two social security schemes. (Source: CRISIL Report)
We have a strong focus on targeting women entrepreneurs, who run small businesses from their homes and are hesitant to leave the confines of their houses to avail banking facilities. Our Business Correspondent services enable financially illiterate and unaware citizens understand the need to shift from informal to formal sources of finance. With our services offerings, we intend to reach out to a wider section of society, as well as underprivileged people with no access to credit or E-Governance Services. We use our understanding of the regions and provide an array of products and services keeping in mind local demands and preferences. Our dedicated B2B2C services portal which supports our merchants to earn money from various assisted e-services that they cross sell to citizens visiting their centres for G2C services. Our newly launched BLS Sewa App provides services such as BLS edutech services, domestic money transfer, pan card application, bus and air ticketing services, railway ticketing services, banking services, AePS enabled cash services, recharges, demat account opening, bill payments etc.
We believe our services offerings has led to social and financial inclusion of marginalized communities and citizens at the grass root level and we intend to continue to expand our services to more such citizens.