CSC SPV, a special purpose vehicle under the Ministry of Electronics & IT, has entered into agreement with HDFC Bank to enable its three lakh village level entrepreneurs (VLEs) managing the common services centers (CSC) operate as banking correspondents of HDFC Bank, an official statement said here on Wednesday.
The agreement was signed between Aditya Puri, Chairman and Managing Director, HDFC and Dinesh Kumar Tyagi, CEO, CSC SPV in the presence of Minister of Electronics & IT Ravi Shankar Prasad at the Ministry of Electronics & IT here.
Under the agreement, VLEs of CSC will work as banking correspondent of HDFC Bank and support the government initiative to promote financial inclusion and make banking services more accessible in rural areas.
This agreement is expected to be a game changer as it would significantly contribute to government's objectives of enabling Direct Benefit Transfer of various schemes.
Apart from this, HDFC Bank will support CSC SPV in converting 1, 000 identified villages into Digi Gaons (digital villages) within this financial year.