BC Agent is recruited from the village after obtaining the consent of Gram Panchayat, Branch Manager of the partner bank. Each BCA is equipped with an Integrated Device comprising of Tab, Smart card reader, Bio-metric device, Printer with connectivity to open Accounts and perform transactions in the villages. For security reasons, the Integrated Device gets locked if the total deposits exceed Rs. 50,000 and to further transact the BC Agent must visit the base branch and deposit Rs. 40,000. At any point in time an agent has Rs. 10,000 to honor withdrawals and the agent being a resident of the same village can honor transactions.
Gram Tarang Inclusive Development Services (GTIDS) is a private limited company active in Financial Inclusion space from April 2011 and headquartered in Vishakapatnam. It is currently working in 15 states of India (i.e. AP, Assam, Bihar, Jharkand, Karnataka, Manipur, Meghalaya, Odisha, Sikkim, Tamilnadu, Telengana, Tripura, Uttarpradesh, Uttaranchal, West Bengal) in over 25,000 Villages as Business Correspondent on behalf of 13 Banks i.e. Andhra Pradesh Grameen Vikas Bank, Andhra Pragathi Gramin Bank, Allahabad Bank, Bihar Gramin Bank, Central Bank of India, Karnataka Gramin Vikas Bank, IDBI Bank, Nainital Gramin Bank, Punjab National Bank, Paschim Bengal Gramin Bank, Syndicate Bank, UCO Bank, Uttarbanga Kshetriya Gramin Bank, United Bank of India & plans to extend services to another 1,000 Villages by Dec 2018. GTIDS opened more than 1.6 Crore no-frills accounts, including 71 Lakh accounts under PMJDY through 8500 BC Agents, 278 staff and disbursed over 2000 Crore MNREGS & Social Security Pensions to the agri-labourers, old-age people, widows, physically challenged people. GTIDS mobilized Fixed Deposits tuning Rs. 200 Crores, savings tuning Rs. 2000 Crores and collected over Rs. 400 Crores NPAs from the beneficiaries on behalf of Partner Banks. GTIDS disbursed more than Rs. 330 Crore loans to over 140,000 beneficiaries under Mudhra Scheme & has a mandate to disburse over Rs. 600 Crores in F.Y 2018-19.