Eko India Financial Services

Eko India Financial Services
General Information
Name of BC Company	Eko India Financial Services Pvt Ltd
States of Operations	Delhi, Bihar, Jharkhand, Haryana, Uttar Pradesh
Banking Partners	State Bank of India, ICICI
Technology Partner	Developed its own online, real-time transaction processing Platform with banking systems
Year Established	2007
Overview
Eko converts every retail shop /counter into a low-cost distribution and payment infrastructure extension of banks to enable instant small value financial transactions. As a “Business Correspondent” of the State Bank of India, ICICI Bank Eko enables branch-free banking using very low cost cell phones and retail distribution. In October 2011, Eko crossed INR 1600 crore of transactions processed across over 32 lakh transactions.
Mode of Operations
Government bodies, Large, Medium and Small Scale Enterprises can disburse benefits, wages, salaries, expenses via Eko to the beneficiary/employee No-frills account and the beneficiary can withdraw funds at any CSP. This helps ease out cash management for the enterprises and in case of Government disbursals, ensures that the benefits reach those that they are intended for, thus preventing leakage.
Product Offered
1. No-Frills Savings Account (Savings)  (i) SBI Mini Saving Account, (ii) ICICI Apna Bachat Khata Outreach: 2 Lakh account holders Key Feature: Zero minimum average balance, Interest bearing @ 4% p.a. Cash deposit and withdrawal at a conveniently located neighborhood Customer Service Point (CSP), Anytime anywhere balance enquiry and mini statements; Simple documentation; Three level transaction security, Instant money transfer; Deposit insurance by Deposit Insurance and Guarantee Corporation as per the RBI guidelines. 2. Money Transfer (Remittance) Outreach: 9 Lakh users Key Features: 3 Types of Remittance services (Tatkal, Outstation Deposit and Outstation Withdrawal), Secured transactions using One Time Use Key. Direct connectivity with SBI Core Banking System allows CBS No Frill Customers to make ONLINE deposit and withdrawals as well as to make deposits into branch based regular account holders. 3. Direct Transfers (Electronic Benefit Transfers) Outreach: 500+ Health Activists Key Features: Government bodies, Large, Medium and Small Scale Enterprises can disburse benefits, wages, salaries, expenses via Eko to the beneficiary/employee No-frills account and the beneficiary can withdraw funds at any CSP. This helps ease out cash management for the enterprises and in case of Government disbursals, ensures that the benefits reach those that they are intended for, thus preventing leakage.
Contact Details
Email	abhishek@eko.co.in customerservice@eko.co.in
Website	www.eko.co.in
Fax	(+91124) 4385445
Telephone	(+91124) 4385445
Office Address	3rd Floor, Phase 2 building Plot – 34, Institutional Area, Sector – 44, Gurgaon – 122003, Haryana
Contact Person	Abhishek Sinha
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