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Starfin India Pvt. Ltd. was engaged by SBI as Business Correspondent in Nov. 2011. Within a short span of two and half year the company displayed spectacular achievement in the pursuit of financial inclusion with a net work of above 1000 Kiosk, (Customer Service Point) CSPs spread over in Delhi-NCR, South Haryana, Western UP, Rajasthan and remotest areas in Uttrakhand, and covered 421 villages by setting up customer service points in the remotest unbanked villages besides covering Urban & Semi-Urban areas of 5 states with 623 CSPs in all STARFIN has opened and maintained 300,000( Three Lack) plus small account with credit balance above Rs. 17 Crores and rendering them Banking Services at their door step by accepting small deposits, promoting among them saving habits, facilitating instant withdrawal and effecting money Transfer to for flung areas of Eastern UP, Bihar and elsewhere in the country.

The company was able to achieve break-even level within the initial 7 months and became profit generating entity thereafter. This has been possible with the dedication, hard work and vision of the young Managing Director Shri. Jitender Singh who by controlling expenses and appointing dedicated executives and by sharing major part of the income with CSPs- the ground level operators. Management keeps their Kiosk operators happy by giving them good remuneration for their activity.

STARFIN remittance transactions (Tatkal money Transfer) exceed 100 thousand in a month with a turnover of Rs. 50 Crores per month. The Strategies like display of hoardings, banners & prominent Signage boards, distribution of pamphlets and holding Canopies for opening SB accounts with technical support by the company facilitated in bringing 175000 rural individuals and 135000 urban underprivileged people to the fold of Banking. Special Training at Okhla office is given to the new CSPs besides lending technical support at Kiosks CSP outlets.

The company holds financial literacy camps in rural and semi-urban areas imparting knowledge and need for financial literacy and emphasizing the importance of savings among the hither to illiterate, underprivileged and downtrodden classes of population. The CSPs are local person having good influence in their area where people trust then as Banking is a matter of Trust for the customers.

The CSP outlets of the BC have been visited and inspected by by Top officials SBI, RBI, Officials from the Ministry of Finance and lead Bank & largely appreciated by them. Our CSPs in Dist. Mewat are facilitating setting up and financing SHGS.

The company envisages some new activity under community service like holding computer literacy camps, organizing health check up camps and promoting SHG in the rural areas.

Under the dynamic leadership of Shri. Jitender Singh MD and dedicated ceaseless efforts with constant endeavor of senior executives, the company will grow with leaps and bounds and expand its horizon with continues upward trends in profits.

Jitender Singh is launching two more projects to strengthen the rural CSP’s and these are related to rural employment.
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