Bhopal-based organization AISECT has won the ninth edition of the prestigious Manthan Award South Asia and Asia Pacific 2012 in the E-Financial Inclusion and Livelihood category.
This year, the competition received 470 entries from organizations across all major South Asian countries with 25 nominations in the category of E-Financial Inclusion and Livelihood. Held recently in Delhi, the Award recognized and acknowledged the out-of-the-box innovations in ICT development across 16 different categories.
External Affairs Minister Salman Khurshid was the chief guest. Dr. Rajendra Kumar (Joint Secretary (e-Gov) at Dept. of Electronics and IT, Govt. of India) handed over the award to Mr. Siddharth Chaturvedi (Director, AISECT) and Mr. Abhishek Pandit (Director-Business Services, AISECT) for AISECT's inclusive growth with financial inclusion and livelihood.
Since 2009, AISECT is extending hassle-free savings, loan facilities and other banking services at an affordable cost to the under privileged and unbanked population. AISECT currently works as a Business Facilitator (BF) as well as a National Business Correspondent (BC) for the State Bank of India.
In collaboration with the Government of India, AISECT has set up 2926 Common Service Centers (CSCs) in Madhya Pradesh, 1487 in Chhattisgarh and 585 in Punjab. In 2010 Financial Inclusion Scheme took a new turn with the State Bank of India (SBI) launching mobile banking services in Madhya Pradesh (M.P.) in collaboration with AISECT.
This was the first time such a service had been introduced under financial inclusion in any state of the country.
Services delivered by AISECT Centers acting as BCs include account opening in CSC Kiosk, Deposit/Withdrawal in Account and Micro Finance. Apart from this, 931 Rural/Urban Banking Kiosks have been installed and two Mobile Vans, fitted with ATM and Kiosk banking mechanisms, are in operation in rural areas.
As a result, AISECT has been successful in including more than 6,50,000 citizens of the country into the banking space who in turn have made more than 280 crores worth of transactions in the last two years.
Also, massive awareness generation programs are being undertaken by the organization to ensure that the community at large develops an understanding of the various financial products and their advantages.
To offer premium collection services in semi-urban and rural India, AISECT has also joined hands with ING Life Insurance.
Commenting on the awards, Mr. Abhishek Pandit said, "It is indeed a matter of great pleasure when the hard work and the innovative initiative of the team get recognized on such a prestigious platform.
Such recognitions encourage us to work with even more dedication towards making banking services accessible at the grassroots level". AISECT is already a leading IT Education, Training and Services player with strong inroads in rural and semi-urban India.
The Manthan Award 2012 is the latest in the long line of achievements and recognitions that AISECT has won over the years. Last year, AISECT won the eminent e-Gov India 2011 Award as the Best ICT in financial inclusion initiatives. (ANI)