New Delhi, May 3: Mahagram, a fintech company, has launched citizen service delivery portal GramSevak.Com to provide doorstep financial services to the masses.
Citizens in rural and urban areas can use the platform to access e-governance, banking, and insurance services with the support of their local Gram Sevak representatives.
The company said it expects to enroll nearly 10 lakh (1 million) unemployed youth under the GramSevak project, which will provide them with a regular source of income.
Mahagram has launched the portal to provide basic doorstep banking and e-governance services to the citizens residing in rural and urban parts of India, the company said in a release on Tuesday.
These services are provided through digitally-enabled feet-on-street representatives, ‘Mahagram Sevaks’.
Mahagram Sevaks will earn a commission for services provided by them through the portal.
Mahagram enables banking services from mom-and-pop stores through Point of Sale (PoS) machines.
The company’s mission is to enable rural women to save money at the local Kirana stores instead of travelling miles to the nearest bank branch, it said.
“Citizens can use the GramSevak.Com platform to access e-governance, banking, and insurance services with the support of their local Gram Sevak representatives. Mahagram hopes to enroll nearly 1 million unemployed youth under the GramSevak project, which will provide them with a source of regular income,” CEO of Mahagram Ram Shriram said.
Mahagram said it expects financial literacy and financial accessibility to grow exponentially as the fintech sector in India is growing and witnessing massive innovations.
The majority of India’s population still lacks access to banks or financial literacy to approach banks for basic banking services. Mahagram, as a technology-driven fintech startup, seeks to reach out to such people so that they can benefit from the same vital banking services as the rest of the population, it added.
“Mahagram believes that in the post-Covid era, people have turned serious about the second source of income. They realize that they need to put their savings into the right investment solutions. It aims to increase the ratio and habit of household savings in rural India by focusing especially on rural women because they are the ones who run households,” it said.
The company further said that GramSevak.Com portal is designed and developed keeping the rural consumers in mind. Through the assisted model, citizens can avail these services despite having no technical or financial knowledge.
“We aim to serve 30 crore (300 million) unbanked masses to bring them under financial inclusion,” it noted. (PTI)
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