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Kiosk Banking

Bank BC — Banking Services

Achariya Technologies Pvt. Ltd. — Financial & Social inclusion via BC Kiosks

Overview

Achariya Technologies Pvt. Ltd. has emerged as a leading player at the forefront of driving financial inclusion and social inclusion initiatives through its network of BC Kiosks providing Business Correspondent Banking Services. We are a Corporate Business Correspondent to Bank of Baroda offering a real-time, paperless, interoperable banking platform that delivers a unique service experience to customers. Our BC Kiosks render comprehensive banking services to the unbanked and under-banked population of India.

Service Offerings

  • Bank Account Opening under Pradhan Mantri Jan Dhan Yojana
  • Cash Deposits, Withdrawals, Money Transfer
  • Fixed and Recurring Deposits
  • Balance Enquiry, Statement of Accounts
  • Disbursement under Direct Benefit Transfer
  • Lead generation for various loan products of Bank
  • Enrollments: PMSBY, PMJJBY, Atal Pension Yojana, Sukanya Samriddhi, PPF

Key Features and Benefits

  1. Outlets located at Gram Panchayat or village locations for easy access
  2. Open beyond normal banking hours
  3. Paperless & biometric-enabled banking
  4. Interoperable banking across banks via Aadhaar
  5. Zero balance accounts under PMJDY

Who can become Bank Business Correspondent?

Non-Governmental Organisations (NGOs)Farmers clubs
Self Help Groups (SHGs)Community based organisations
Micro Finance Institutions (MFIs)Village Knowledge Centres
Post OfficesAgri Clinics / Agri Business Centers
Insurance agentsKrishi Vigyan Kendras
PanchayatsKhadi and Village Industries units
Civil Society Organisations (CSOs)Corporate entities with IT outlets in rural parts

Services Offered By BC (Bank Mitra)

Savings AccountBalance Enquiry / Mini StatementCash Deposit / Cash Withdrawal
Fixed Deposit / E-KYC EnrolmentAadhaar Enabled Payment System (AEPS)Rupay ATM Card / Identity Card
Loan Deposit / Recurring DepositSocial Security Schemes (PMJJBY, PMSBY & APY)Pass Book Printing
DBT Enabled FacilitySaving Account Opening3rd Party Financial Products

How to Become a Banking Correspondent (BC)

  1. Download the application form and BC selection format from the website.
  2. Submit forms with Aadhaar, PAN, 10th certificate & police verification to fi@Achariyagroup.com.
  3. Company verifies documents & location availability with Bank.
  4. Company forwards request to Bank for BC settlement account.
  5. After account opening, Company applies for K.O.Code generation for the BC.
  6. Technical team assists with software installation & primary training.
  7. BC operates as per PMJDY norms and partnering Banks.

PMJDY Benefits

  • Zero minimum balance
  • Accidental insurance cover of Rs. 2,00,000
  • Life insurance cover of Rs. 30,000 (subject to eligibility)
  • Direct Benefit Transfer for government schemes
  • Overdraft facility up to Rs. 10,000
  • Affordable premiums for PMSBY & PMJJBY
  • Atal Pension Yojana: Rs.1,000–5,000 p.m. for eligible members

What is a BC Point?

A BC Point is a physical location where a Business Correspondent (BC) provides banking & financial services in areas without bank branches.

  • Physical outlet managed by BC agent
  • Extension of the bank
  • Connecting bank with rural or underserved customers

List of Services Offered at BC Points

  1. Account Opening
  2. Cash Deposit (Own Bank)
  3. Cash Deposit (Other Bank – AEPS / RuPay Card)
  4. Cash Withdrawal (On Us)
  5. Cash Withdrawal (Off Us)
  6. Fund Transfer (Own Bank)
  7. Fund Transfer (Other Bank – AEPS / RuPay Card)
  8. Balance Enquiry (Own Bank)
  9. Balance Enquiry (Other Bank – AEPS / RuPay Card)
  10. Mini Statement
  11. TDR / RD Opening
  12. Enrollment under PMSBY Scheme
  13. Enrollment under PMJJBY Scheme
  14. Enrollment under APY Scheme
  15. Cheque Collection
  16. Aadhaar Seeding
  17. Mobile Seeding
  18. IMPS
  19. NEFT
  20. Request for New Cheque Book
  21. Stop Payment for Cheque
  22. Cheque Status Enquiry
  23. Renew TD
  24. Block Debit Card
  25. Launch Complaints
  26. Track Complaints
  27. Request for SMS Alert / Email Statement
  28. Pension Life Certificate Authentication (Jeevan Pramaan)
  29. Recovery / Collection up to Bank-approved Limit
  30. Apply for RuPay Debit Card
  31. Passbook Update
  32. Loan Request Initiation – Personal Loan
  33. Loan Request Initiation – Home Loan
  34. Loan Request Initiation – Vehicle Loan
  35. Request Initiation for Life Insurance
  36. Request Initiation for Health Insurance
  37. Request Initiation for Motor Insurance
  38. PPF (Public Provident Fund)
  39. Sukanya Samriddhi Account

Benefits of BC Points

  • Accessibility – Brings banking closer to remote & unbanked areas
  • Financial Inclusion – Serves underserved populations
  • Affordable Services – Cost-effective banking
  • Support for Banks – Expand reach without full branches

Bank BC Commission Chart

Sl. No.Products Available at BC PointCommission
1INSTANT SB A/C OPENING, EKYC
Rs. 4 per account (Funded), Rs. 8 per account (Initial funding of Rs. 10–100), Rs. 12 per account (Initial funding of Rs. 101–500), Rs. 16 per account (Initial funding of Rs. 501–750,Rs. 20 (Initial funding of above Rs. 750))
2INSTANT SB A/C OPENING, NON-EKYC
Rs. 4/- per account (non-Funded), Rs. 8/- per account (Funded)
3Non-BSBD Account Open

Account Open In SB 160 Scheme - Charges for A/C Open as follows:

  • If Account open during 1st to 10th of the month - the average balance from 11th to last day of the month
  • If account opened during 11th to last day of month - the average balance of next month
Average Balance RangeCommission
0 to 499₹0.00
500 to 999₹16.00
1,000 to 1,999₹20.00
2,000 to 4,999₹40.00
5,000 to 9,999₹60.00
10,000 to 14,999₹100.00
15,000 to 19,000₹140.00
20,000 to Above₹160.00
4INSTANT RD A/C OPENING
Rs. 8/- per account
5INSTANT FD A/C OPENING
Rs. 32/- of deposit amount Min. Rs. 1 & Max. of Rs. 20/- per A/c
6MICRO INSURANCE - PMSBY
Rs. 0.80/- per policy
7MICRO INSURANCE - PMJJBY
Rs. 24 (June, July, August),Rs. 18 (Sept, Oct., Nov),Rs. 12 (Dec, Jan, Feb),Rs. 6 (March, April, May) No commission for renewal of policies from 01-06-2022
8ATAL PENSION YOJANA
Rs. 30/- per application and annually
9IMPS (AADHAAR AUTHENTICATED IMPS)
Rs. 0.32 of the amounts (Min. Rs. .80 & Max of Rs. 8/- per a/c)
10AADHAAR SEEDING
Rs. 2.40/- per Account duly verified by branch in CBS
11AADHAAR AUTHENTICATION
Rs. 2.40/-
12MOBILE SEEDING
Rs. 4/- per successful seeding
13AEPS ON US CASH DEPOSIT
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 20
14AEPS ON US CASH WITHDRAWAL
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 20
15AEPS ON US FUND TRANSFER
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 8
16AEPS OFF-US CASH DEPOSIT
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 16
17AEPS OFF-US CASH WITHDRAWAL
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 16
18AEPS OFF-US FUND TRANSFER
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 8
19BALANCE INQUIRY ON US
NIL
20BALANCE INQUIRY OFF US
NIL
21MINI STATEMENT ON US
NIL
22MINI STATEMENT OFF US
NIL
23SHG DUAL AUTHENTICATION TRANSACTION
Rs. 0.32% of deposit amount Min. Rs. 1 & Max. of Rs. 20
24CARD WITHDRAWAL ON-US TXN
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 20
25CARD WITHDRAWAL ON US TIN/NPI (RUPAY OFFUS)
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 16
26DEBIT CARD BALANCE INQUIRY
NIL
27THIRD PARTY DEPOSIT
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 20
28PASS BOOK PRINTING
Rs. 4/CYF up to 300 in a month and above 300 in a a month Rs.4.80/ CYF
29JEEVAN PRAMAAN
NIL
30BHARAT BILL PAYMENT SYSTEM (BBPS)
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 8.00
31REQUEST FOR NEW CHEQUE BOOK
Rs. 4/-
32STOP PAYMENT OF CHEQUE
Rs. 4/-
33CHEQUE STATUS ENQUIRY
NIL
34APPLY FOR DEBIT CARDS
Rs. 8.00/-
35AADHAAR LOOKUP FACILITY
NIL
36DEBIT CARD HOT LISTING
Rs. 2.40 per Request
37REQUEST FOR SMS ALERT
Rs. 1.60 per Request
38REQUEST FOR E-MAIL STATEMENT
NIL
39LODGE/TRACK COMPLAINTS
NIL
40Remittance through NEFT
0.32% of amount, Min. Rs. 0.80 & Max Rs. 8.00
41PMJDY OVERDRAFT
Rs. 20.00 per successful loan Disbursement
42IMPS (LOCAL AUTHENTICATION IMPS)
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 8.00
43CASH DEPOSIT-NON AEPS ONUS
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 20.00
44CASH WITHDRAWAL-NON AEPS ONUS
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 16.00
45FUND TRANSFER-NON AEPS ONUS
Rs. 0.32% of deposit amount Min. Rs. 0.80 & Max. of Rs. 8.00
46Deposit Mobilization in SB Accounts opened by BCs
Minimum 0.24% to Maximum 1.36% PA paid on monthly basis. Subject to fulfilment of terms and conditions.
47NPA Recovery
0.80% of recovery in Standard Account, 1.60% in NPA Accounts, 8% in PWO/TWO
48Debit Card Issuance
Rs. 4.00
49BALANCE INQUIRY-NON AEPS ONUS
NIL
50MINI STATEMENT-NON AEPS ONUS
NIL
51Additional Incentive to BCs deployed in uncovered villages of North East States
0 to 50 Transaction- Rs. 4000, Achieving 75 Txns per month Rs. 6000, Achieving 100 Txns per month – Rs. 8000

Retail Loans

45Home Loan & Mortgage Loans0.20% of the loan amount on conversion of leads. Take over Loans: Additional payout of 0.04% of loan amount. Payout to be paid after minimum disbursement of 20% of the sanctioned limit.
46Education Loan0.20% of the loan amount on conversion of leads*,* Payout to be paid after minimum disbursement of 20% of the sanctioned limit
47Auto Loans (4 Wheelers & 2 Wheelers)@ 0.20% of loan amount (disbursed amount) on Car (New and Pre owned) & Two Wheelers

Credit Card

48Commission on Application LoginRs. 24/-
Commission on Credit Card ApprovalRs. 24/-
Commission on Activation of Credit Card (to be paidin next quarter basis Rs.20 90 days activation period)Rs. 20/-
Hence Gross Total CommissionRs. 64/-

Add on card (i.e. credit card applied for a separate family member with the same application form) to be counted as additional application and will be eligible for incentive as above. ** Existing BOB credit card holders will not be considered as Lead and hence will not be covered under commission

Current Account

49Current Account with monthly minimum balance as applicable to Rural/Semi-Urban/Urban/MetroRs. 40/-
Quarterly average balance of Rs.2.0 lacs with digital transaction i.e. Mobile Banking, Net Banking, Internet BankingRs. 160/-
Quarterly average balance of Rs.5.0 lacs with digital transaction i.e. Mobile Banking, Net Banking, Internet BankingRs. 400/-

Mutual Funds

50Commission for sourcing of Mutual Fund leads shall be advised separately—

Agriculture Gold Loan

51Gold Loan0.08% of loan amount subject to minimum of ~- 80 & maximum of~- 800 per account
52BKCC Lead Generation0.40% of loan amount subject to a minimum of~- 20/- and maximum ~ 4,000/-. The incentive shall be

Agriculture Loans: Tractor / Four Wheeler and Two Wheeler finance to Farmers

53
Product & Scheme Codes in FinacleNo. of Cases disbursed in the monthIncentiveAmount to be paid on disbursement (50% of Incentive)On submission of PDD within 60 days of disbursement (10% of Incentive)After completion of 1 year if account remains standard (40% of Incentive)
Tractors (LA-434, LA-435, LA-436)1–224001,200240960
3–4320016003201,280
5 & above12002,0004001600
LA-402NA1,200750150600
Four Wheeler (LA-427)NA1,200600120480
Two Wheeler (LA-416)NA400320 (64% of incentive)100 (16% of incentive)—

Location

Outlets at Gram Panchayat / Village level for local access

Hours

Open beyond normal banking hours for convenience

Note: Content is informational & follows PMJDY & GOI schemes.