BASIX Sub-K iTransactions Limited

BASIX Sub-K iTransactions Limited
General Information
Name of BC Company	BASIX Sub-K iTransactions Limited
States of Operations	AP, Karnataka, Maharashtra, Madhya Pradesh, Haryana Gujarat, Punjab, Orissa, West Bengal, Chhattisgarh, Delhi
Banking Partners	Syndicate, Axis, Citi Bank
Technology Partner	Self
Year Established	August 2010
Overview
BASIX Sub-K transactions Limited (Sub-K), a BASIX Group company, provides residents of rural and semi-urban areas with a mobile technology based transactional platform for access to digitized services. These could include Banking Services, Savings, NREGA and other Government Payments, Money Transfers, Utility Payments, Prepaid Mobile Top-ups and others, enabled through a network of Basic Convenience Outlets (BCO) operated by company agents. Sub-K, which means ‘less than 1000’, helps people access services within distances of 1000 meters, with transaction values under Rs. 1000, by incurring transaction fees less than 1000 paise, through outlets that typically serve 1000 customers in a locality. Sub-K works on appointing service providers/banks at one end and BCOs at the other to bridge the digital divide and create a more prosperous, ‘financially included’ society. This is direct consonance with the company’s vision; “Sub-K makes day-to-day transactions accessible, affordable and trust-filled, to facilitate inclusive growth of the under-reached and create a more prosperous society”.
Mode of Operations
1.  To provide a range of financial services to the costumers at very reasonable cost including saving, credit, insurance, money transfer and remittance. 2.  Financial and institutional sustainability as a mean of providing access to financial services overtime. 3.  Multiple provider of financial services wherever feasible so as to bring cost effective and wide variety of alternative to costumers.
Product Offered
A) Savings 1. Name of the Product: Deposits, Withdrawals. Statements 2. Outreach: 76,410 account holders (till Oct 2011) 3. Benefits of the Product:  Online facility available at a fixed Agent in every village/BCO using mobile connectivity. All products reconciled with CBS in real-time. B) Funds Transfer / Remittance 1. Name of the Product: Fund transfer 2. Outreach: 76,410 account holders (till Oct 2011) 3. Benefits of the Product:  Online facility available with inter-operability at all BCOs using mobile connectivity and authenticated by voice/fingerprint biometric in real-time. C) Mobile Topups (Non-banking Product) 1. Name of the Product: Mobile Topup 2. Outreach: Any pre-paid mobile phone user within BCO area 3. Benefits of the Product: Instant upload of any value of talk-time of any mobile service provider in India. BCO need not invest in each provider’s vouchers.
Contact Details
Email	info@subk.co.in
Website	http://subk.co.in/
Fax	040-66375602
Telephone	040-66375600
Office Address	4-1-317 to 319, 2nd Floor,Troop Bazar, Abids Road,Hyderabad-500001, Andhra Pradesh, India.
Contact Person	Sandeep Nath
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