Money & Banking

BLS International becomes National Business Correspondent of SBI

Our Bureau New Delhi | Updated on September 21, 2021

This partnership is aimed at delivering last mile banking services to the tier2 & tier3 cities

BLS International Services Ltd has been selected as National Business Correspondent for State Bank of India (SBI) to deliver banking services in urban, semi-urban and rural areas across the country.

It would deliver last mile banking services to support the financial inclusion mission of Indian government.

BLS will soon initiate banking services like savings bank deposits, fixed deposit, recurring deposit, remittances, micro pension, micro insurance, account open with e-KYC, AEPS mini statement, passbook printing for SBI account holders spread across India.

Commenting on this development, Shikhar Aggarwal, Joint Managing Director, BLS International, said, “This partnership with State Bank of India will support government’s initiative to deliver last mile banking services to the tier2 & tier3 cities. It will strengthen our reach in the southern, eastern and western parts of India while we already have an extensive network in northern India. This is a testimony to our commitment to serve the unserved and underserved population of India.”

Bank of Baroda

Meanwhile, the subsidiary of BLS International, Starfin India Pvt. Ltd. has won a contract from Bank of Baroda to support the financial inclusion mission of Government.

Under the contract, the company will be the official National Business Correspondent (BC) to deliver last mile banking services in rural and urban areas.

Effective immediately, Starfin will start basic banking services like enrolment of customers, debit cards, balance enquiry, statement of accounts, pass book printing, money deposit, and bills/utilities payment services to account holders across India.

Published on September 21, 2021

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