Sahaj – Airtel Money Tie-up: Fulfilling India's Financial

Lucknow, Uttar Pradesh, India, Thursday, October 03, 2013 -- (Business Wire
India) 
Sahaj eVillage Limited, a Srei Venture Initiative has entered into an
arrangement with Airtel M Commerce Services Limited (AMSL), a wholly owned
subsidiary of Bharti Airtel to extend banking facility to citizens in three
districts of Uttar Pradesh – Varanasi, Jaunpur and Gorakhpur through the
ubiquitous mobile platform.  
Sahaj's tie up with Airtel Money aims to offer basic banking services to the
villagers, the most financially excluded populations in India. The alliance will
ensure the opening of no-frills savings account for rural customers through
Airtel Money Super Account powered by Axis Bank, which will offer customers at
the Sahaj Jan Seva Kendra in Uttar Pradesh, banking transactions including cash
deposit, money transfer and cash withdrawal, paving way for convenient, safe and
secure platform to the villagers. The account shall also earn savings account
interest @4%, which shall help the villagers make remittances.  
The partnership will leverage the company's wide network of CSC and
entrepreneurs to empower rural citizens of India with standard financial
products and services and hence enhance their livelihood and quality of life.  
Besides, the platform creates a wallet for the villagers and money can be easily
transferred from one Airtel Money Wallet to another. The wallet can be used
across the country and make all kinds of payments. Non-airtel customer too can
receive money on their mobiles and get it converted into cash through an
existing Airtel Money Axis Bank customer service point in the state, or through
one of these Sahaj Jan Seva Kendras.  
Commenting on the tie up, Mr. Srinivasa Rao – CEO, Airtel, UP & Bihar said,
“Through this alliance, Airtel and Sahaj hope to bring banking facilities at
an arm's length to all our customers of Uttar Pradesh East. This is a small
first step aimed at improving the financial independence of unbanked masses in
the region.” 
It is worth a mention here that Sahaj, being pro-financial inclusion, already
has over 550 business correspondents in Uttar Pradesh in arrangement with
various banks. Speaking about this latest & convenient mode of inclusion
introduced through Sahaj, Mr. Umesh Rao, President, Sales & Marketing, Sahaj
e-Village Ltd. said “Inclusion through the mobile mode is the future,
considering the fact that mobile connectivity has made inroads into the deepest
pockets of Rural India. This is a giant step by Sahaj in taking the benefits of
financial inclusion through m-commerce to the large population of rural citizens
in Uttar Pradesh we serve through our huge network of over 8,000 centers. This
is yet another step at bridging the gap between rural & urban markets.” 
About Sahaj e-Village Limited  
Sahaj e-Village Limited, a Srei Venture Initiative, is a business integrator in
the field of IT infrastructure with a focus on rural India. It has over 99
offices across 6 states and has emerged as one of the largest implementers of
ICT-based projects in India. It has taken up the task of eliminating the
undemocratic digital divide between rural and urban India, under the National
e-Governance Plan, the Flagship Program of the Government of India in Rural
India. It brings government, business, and services to the rural India through
an expanding network of Village Level Franchisee Partners. Sahaj is set to
launch over 28,000 Common Service Centres (CSC) across 107 districts in the six
states of Assam, Bihar, Odisha, Tamil Nadu, Uttar Pradesh and West Bengal. More
than 24,500 CSCs have already been established, providing a single-window, one
stop solution to the citizen's needs, under the Private-Public- Partnership
(PPP) arrangement.  
About Airtel M Commerce Services Limited 
Airtel M Commerce Services Limited (AMSL) is a fully owned subsidiary of Bharti
Airtel Limited. AMSL's flagship product is semi-closed wallet - launched under
the brand name 'Airtel Money'. Semi-closed wallet is a prepaid payment
instruments that is redeemable at a group of clearly-identified merchant
locations/ establishments, which contract specifically with the issuer (AMSL is
the issuer in this case) to accept the payment instrument. These instruments do
not permit cash withdrawal or redemption by the customer. 
Media contact details 
Upasna Singh, Business Development,
Sahaj e-Village Limited,
+91 8303211888,
upasna.singh@sahaj.co.in 
Contributed via: Bloomberg Publisher WEB Service 
Provider ID: cd684a6f69e54e00afe1ba248cb0582a 
-0- Oct/03/2013 13:47 GMT