Business Correspondence Services

Business Correspondence Services – A layered approach to banking
Through our robust framework & technology of Mahagram retail network, we aim to provide end-to-end banking services to rural India, which comprises most of the India’s population.

Through the best breed of functional modules, we endeavour to provide the rural population access to real-time banking transactions at their doorstep through 5000 Mahagram retailers, our retail outlets are in the states of Maharashtra, Uttar Pradesh, Delhi and Bihar.

With an objective of inclusive growth, our retail outlets shall offer all banking services offered with technology-driven real-time rural connectivity at the Gram Panchayat level which will enable people in rural India to avail all kinds of banking services.

Accounts Opened as on 25.05.2016Pradhan Mantri Jan - Dhan Yojana
(All Figures in Crores)

  • Public Sector Bank
  • Regional Rural Bank
  • Private Banks

Source – PMJDY (official website)

Our banking services includes

  • Enrolment of banking customers
  • Providing debit and credit cards and PIN
  • Enabling general banking transactions
  • Collection and scrutiny of loan applications
  • Verification of primary data
  • Sale of third-party banking & financial products

research beyond the business plan

The Direct Benefit Transfer (DBT) scheme is an anti-poverty program launched by the Government of India. It aims to facilitate delivery of all social welfare benefits by direct credit to the bank
accounts of beneficiaries.

Through the DBT scheme, the Government aims to route all the social security payments through our banking network, using the Aadhaar-based platform as a unique identifier of beneficiaries.

We are a key participant in the DBT scheme as we enable the transfer of subsidies directly to the scheme beneficiaries through Vakrangee Kendra, thus eliminating the middleman. DBT will be routed
by processing the scheme benefits and payments into the Aadhaar-linked bank accounts of the scheme’s beneficiaries.

Besides offering convenience to the beneficiaries, the DBT scheme ensures transparency and also terminates pilferage from distribution of funds sponsored by the Government.

Prime benefits currently offered are:

  • Pension for old people
  • Scholarship for students
  • Wages for labourers
  • LPG subsidy
The new National Pension Scheme (NPS) promoted by the Pension Fund Regulatory and Development Authority (PFRDA) of India is aimed towards promoting the security of income to pension subscribers in their old age.

We aim to participate in this endeavor of the Government through our retail network, our retail outlets in rural India, where the pension subscribers can personally visit to withdraw their pension amount credited by the Government into their Aadhaar-linked bank accounts. Pension subscribers can access their pension fund/amount through our robust retail network of our eGram Kendra.

We have wide retail network through which we do provide business facilitation services to banks.

List of services under business facilitation

  • Customer awareness
  • Sourcing & due diligence of loan application (all loan products)
  • Sourcing of Insurance proposal (All insurances)
  • Sourcing of SHG accounts
  • SHG linkage
  • Sourcing of demat accounts
  • Sourcing of cards or other products
  • Sale of all investments products

Basic Banking

Through our retail network, we wish to provide basic and retail banking services to India’s unbanked and under-banked population. Our retail outlets shall offer all the basic banking services and products such as savings accounts, loans, cash withdrawal, cash deposit, account balance enquiries and funds transfer, among others.

List of basic banking services offered at our Retail Outlets:
  • Savings Bank Account Opening
  • Urban Counter Tatkal Remittance
  • Transaction – Deposit
  • Transaction – Withdrawal
  • Transaction – A/C To A/C Remittance
  • Transaction – Tatkal Remittance
  • Account Opening
  • RD Account Opening
  • Deposit In RD Account
  • Cash Credit
  • Repayment In Term Loans
  • Fixed Deposit
  • Retail Loans
  • Overdraft
  • Insurance
  • Micro Pension
  • SHG Management
how can we help you?

Contact us at our office nearest to you or submit a business inquiry online.

I have been working with Mahagram as a district coordinator and had enjoyed the work. I am managing more than 120 retailers under my service umbrella.

Rajkumar Kamble
Channel Partner

Are you a bank? Do you want us to work for you?