Rural Banking & Finance

Financial Inclusion

Financial inclusion is the delivering of banking services at an affordable cost to the disadvantaged and low-income population of the country. In India the basic concept of financial inclusion is that of banking facilities, provisions for loan and availability of insurance services. As banking services increasingly become a basic necessity, it is critical that these services be made available. NICT - An ISO 9001:2008 NGO, has entered into an Agreement with the largest Bank of the nation "State Bank of India" as a Business Facilitator as well as Business Correspondent to offer banking services in the unbanked areas of the country.

Banking Services in Rural Area

NICT offers these services in rural area of entire Madhya Pradesh and Chhattisgarh. As a Business Facilitator NICTs Common Services Centre generate business for the bank from the communities living in and around their CSCs and book the business to nearest linked branch. As a Business Correspondent, the NICTs Common Services Centre with adequate ICT infrastructure acts as a Banks Branch and offers the selected banking facilities.

Business Correspondent (BC) Services
  • Saving Account Opening
  • Deposit / Withdrawal in Account
  • NREGS Wages Distribution & Govt. Pension Distribution

Now NICT is working all across Madhya pradesh and Chhattisgarh. At present 925 Banking KIOSK providing services to beneficiaries in rural areas.

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Business Facilitator (BF) Services
  • New Saving or Current Account Opening
  • Loan Distribution (Application & Information)
  • Micro Finance, Loan for Agriculture and Animal
  • Loan for Tractor, Vehicle and House
  • Recurring Deposit & Fixed Deposits in Bank
  • Loan Recovery

Presently about 250 NICT CSCs offers BF services from 13 districts of Madhya Pradesh.