Piyush Goyal: Govt ready to make all CSCs as banking correspondentshttps://indianexpress.com/article/business/banking-and-finance/piyush-goyal-govt-ready-to-make-all-cscs-as-banking-correspondents-5213526/

Piyush Goyal: Govt ready to make all CSCs as banking correspondents

Goyal said he would work on allowing all 2.9 lakh CSC to work as banking correspondents and also explore the opportunity to set up extended bank counters at CSCs to provide banking and financial services in rural areas.

Piyush Goyal: Govt ready to make all CSCs as banking correspondents
Union Minister Piyush Goyal. (Express photo)

Finance, Railways and Coal Minister Piyush Goyal on Monday said the government was ready to make all 2.9 lakh common service centers (CSCs) as banking correspondents, opening up to a long-standing demand of the electronics and information technology ministry, under which the CSC machinery operates.

“We are ready to make all 2,90,000 CSCs as banking correspondents, and for this our only condition is honesty because banking only works on honesty,” Goyal said, while speaking at the launch of 5,000 WiFi choupals at CSCs in partnership with the Department of Telecommunications, where IRCTC and CSC e-Governance also signed an agreement for train ticket bookings.

Goyal said he would work on allowing all 2.9 lakh CSC to work as banking correspondents and also explore the opportunity to set up extended bank counters at CSCs to provide banking and financial services in rural areas. He asked Law and IT minister Ravi Shankar Prasad to provide “speed, skill and scale” to his proposal of financial services via CSCs. Currently, some of the CSCs operate as human ATMs allowing people in the hinterlands to deposit and withdraw money from their bank accounts using the Aadhaar. Under the pact between IRCTC and CSC e-Governance, all CSCs will be able to book reserved and unreserved train tickets. “About 40,000 CSCs are providing this service, and IRCTC should accelerate and make sure that in the next 8-9 months every CSC should have this facility,” Goyal said on Monday.