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How has HCL started working in the area of Financial Inclusion? What kind of Hardware and soſtware maintenance support was given by HCL? Will connecvity sll be the major problem in rural areas? How has HCL started working in the area of Financial Inclusion? Please tell us about HCL’s financial inclusion model? banking penetraon into the rural areas was very poor as one has to travel few who acted on behalf of the Bank also offered services like loans, insurance, Our experience in Financial Inclusion goes back to 2008 kilometers to find a bank. So there was no encouragement for a rural person to pension and other third-party products to the smartcard holders at their where the problem came from one of the CMD’s of the keep a bank account. Therefore the RBI came out with the concept of branchless doorstep and as per the card holders’ convenience. HCL provided each BC with bank, where the Government has invested Crores of banking based on the technology . And that’s the me when we thought that supporng technology that provided “financial services in a box” – a highly Rupees into the rural sector but it has not shown the results what is it required in terms of the security to match the banking services parameterized POS based transacon support for account / transacon upload that it was supposed to show. The reason was that the available to the rural masses which is in at par with the urban areas, which into main server BC/POS operaon management. money that was given was used for the purpose of either means banking anyme anywhere. The rural people need to be the part of the paying the old tax or some other social acvity . Even the financial system to be able to plan their savings and have access to the formal banking penetraon into the rural areas was very poor as credit. But today when I look at it so what we did is that we developed a soluon Some of the services offered by HCL to ensure interoperability among the one has to travel few kilometers to find a bank. So there was no encouragement which could meet the requirement of banking even at the remotest place. This is different systems were customizaon, installaon, operaon & maintenance of for a rural person to keep a bank account. Therefore the RBI came out with the based on the wireless technology in the form of GPRS so a remote terminal has servers DC and DR services Network. Moreover the administraon services concept of branchless banking based on the technology . And that’s the me the funconality like that of the ATM. included proving network connecvity and interface Web-based online and when we thought that what is it required in terms of the security to match the offline upload facility with mulple connecvity opons like Modem / GPRS / banking services available to the rural masses which is in at par with the urban CDMA Provided SMS/GPRS Interface Highly scalable database & plaorm areas, which means banking anyme anywhere. The rural people need to be the independent synchronisaon support between intermediate server with DC part of the financial system to be able to plan their savings and have access to server support for POS transacons in online/off-line mode. the formal credit. But today when I look at it so what we did is that we developed a soluon which could meet the requirement of banking even at the remotest place. This is based on the wireless technology in the form of GPRS so a remote When you talk about the network connecvity there are different approaches terminal has the funconality like that of the ATM. to solve this problem. One approach is that we are able to connect this device over mulplicity of networks. What the Government has done is that they have formed Bharat Broadband Limited (BBNL), the objecve is to take the fiber Our experience in Financial Inclusion goes back to 2008 where the problem connecvity to Panchayat level. Some of the banks are providing VSAT came from one of the CMD’s of the bank, where the Government has invested HCL engaged and managed business correspondents (BC) deployed in the connecvity in addion to what we are doing in this country. The other problem Crores of Rupees into the rural sector but it has not shown the results that it was villages. HCL set up a complete ecosystem for the BCs to ensure that they were that you will find in the rural area is that you will find connecvity at certain supposed to show. The reason was that the money that was given was used for properly trained and equipped to facilitate banking and financial services to the spots. What happens is that the cell density is slow so there are spots where the the purpose of either paying the old tax or some other social acvity . Even the local people without the need for them to travel to a distant branch. These BCs coverage is not good. “The rural people need to be the part of the financial system to be able to plan their savings and have access to the formal credit,” says Mahendra Pratap, Head, Financial Inclu ion, HCL Infotech Ltd. s FINANCIAL INCLUSION THROUGH BUSINESS CORRESPONDENTS

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How has HCL started working in the area of Financial Inclusion?

What kind of Hardware and software maintenance support was given by HCL?

Will connectivity still be the major problem in rural areas?

How has HCL started working in the area of Financial Inclusion?Please tell us about HCL’s financial inclusion model?

banking penetration into the rural areas was very poor as one has to travel few who acted on behalf of the Bank also offered services like loans, insurance, Our experience in Financial Inclusion goes back to 2008 kilometers to find a bank. So there was no encouragement for a rural person to pension and other third-party products to the smartcard holders at their where the problem came from one of the CMD’s of the keep a bank account. Therefore the RBI came out with the concept of branchless doorstep and as per the card holders’ convenience. HCL provided each BC with bank, where the Government has invested Crores of banking based on the technology. And that’s the time when we thought that supporting technology that provided “financial services in a box” – a highly Rupees into the rural sector but it has not shown the results what is it required in terms of the security to match the banking services parameterized POS based transaction support for account / transaction upload that it was supposed to show. The reason was that the available to the rural masses which is in at par with the urban areas, which into main server BC/POS operation management.money that was given was used for the purpose of either means banking anytime anywhere. The rural people need to be the part of the paying the old tax or some other social activity. Even the financial system to be able to plan their savings and have access to the formal banking penetration into the rural areas was very poor as credit. But today when I look at it so what we did is that we developed a solution Some of the services offered by HCL to ensure interoperability among the

one has to travel few kilometers to find a bank. So there was no encouragement which could meet the requirement of banking even at the remotest place. This is different systems were customization, installation, operation & maintenance of for a rural person to keep a bank account. Therefore the RBI came out with the based on the wireless technology in the form of GPRS so a remote terminal has servers DC and DR services Network. Moreover the administration services concept of branchless banking based on the technology. And that’s the time the functionality like that of the ATM. included proving network connectivity and interface Web-based online and when we thought that what is it required in terms of the security to match the offline upload facility with multiple connectivity options like Modem / GPRS / banking services available to the rural masses which is in at par with the urban CDMA Provided SMS/GPRS Interface Highly scalable database & platform areas, which means banking anytime anywhere. The rural people need to be the independent synchronisation support between intermediate server with DC part of the financial system to be able to plan their savings and have access to server support for POS transactions in online/off-line mode.the formal credit. But today when I look at it so what we did is that we developed a solution which could meet the requirement of banking even at the remotest place. This is based on the wireless technology in the form of GPRS so a remote When you talk about the network connectivity there are different approaches terminal has the functionality like that of the ATM. to solve this problem. One approach is that we are able to connect this device

over multiplicity of networks. What the Government has done is that they have formed Bharat Broadband Limited (BBNL), the objective is to take the fiber

Our experience in Financial Inclusion goes back to 2008 where the problem connectivity to Panchayat level. Some of the banks are providing VSAT came from one of the CMD’s of the bank, where the Government has invested HCL engaged and managed business correspondents (BC) deployed in the connectivity in addition to what we are doing in this country. The other problem Crores of Rupees into the rural sector but it has not shown the results that it was villages. HCL set up a complete ecosystem for the BCs to ensure that they were that you will find in the rural area is that you will find connectivity at certain supposed to show. The reason was that the money that was given was used for properly trained and equipped to facilitate banking and financial services to the spots. What happens is that the cell density is slow so there are spots where the the purpose of either paying the old tax or some other social activity. Even the local people without the need for them to travel to a distant branch. These BCs coverage is not good.

“The rural people need to be the part of the financial system to be able to plan

their savings and have access to the formal credit,” says Mahendra Pratap, Head, Financial Inclu ion, HCL Infotech Ltd. s

FINANCIAL INCLUSION THROUGH BUSINESS CORRESPONDENTS