Reported by: banking|Updated: October 11, 2019
Chaitanya Godavari Grameena Bank makes effective use of technology for providing value-based services to its customers in its area of operations. It firmly believed that its diverse customers can be brought into a digital fold by introducing digital technology products. It has thus taken up several technology-oriented initiatives and implemented a number of projects in the last financial year. The bank’s chairman T. Kameswara Rao, says to onboard the rural customers and to provide banking facilities (financial & non-financial) that can also be offered on feature phones, the bank has introduced USSD service. Similarly, Public Fund Management Service (PFMS) of the central government has been integrated with the core banking solution to facilitate seamless direct benefit transfers. Offsite ATMs have been set up to reduce footfalls at branches just for mere cash withdrawals and deposits. And for enriching customer experience, we have introduced value added services like Green PIN at the ATMs. In addition to NEFT /RTGS as well as IMPS have also been implemented.
Rao says the bank has the facility to transfer funds to individual account holders at the BC points from the SB accounts of the group members of the SHG group as part of loan disbursements after dual authentication of the president and secretary of the SHG group concerned. It implemented this facility in August 2018 and since then has made total transactions amounting to Rs500 million.