Financial Inclusion (FI) is a term used to describe the umbrella of services that banks seek to offer to the vast sections of the disadvantaged and low-income groups of the population which do not have access to such services. Banks would seek the services of Technology Service Providers to deliver these services at inexpensive costs to these people. There is indeed enormous scope in India, as only 59% of the adult population has bank accounts, with 39% coverage in rural areas as against 60% in urban India.

Keeping the above requirements in mind, Venture Infotek has bridged the digital divide and launched “Venture Grama”, an initiative revolving around cutting-edge technology for extension of services to the rural poor. “Venture Grama” aims to provide a platform, for extending the reach of Financial Inclusion projects throughout the length and breadth of the country, in an efficient, secure and cost-effective manner, leveraging Venture Infotek’s expertise in the transaction processing domain.

Venture Grama comprises of the following components -
•    Cardholder Enrollment
•    Card Issuance (Contact-based & Contactless)
•    POT (Point of Transaction Terminal)
•    Biometric Support
•    Online / Offline Support
•    Wireless (GPRS / CDMA /  Wifi) /  Wired connectivity
•    Infrastructure
•    PAN-India Network connectivity
•    Central Tier-2 Data center
•    Disaster Recovery
•    Field Services, Support & Business Correspondent tie-ups for terminal management, cash management and field operations

Under Venture Grama, a pilot project for Financial Inclusion has been successfully implemented at Mann Deshi Mahila Sahakari Bank. The implementation of another such project with additional functionalities will commence shortly at Bank of Rajasthan.