Tender Document for Supply of IT Manpower for PFMS

          To harness the complete capabilities of PFMS throughout the country, Government of India through Controller General of Accounts (CGA) is inviting tenders for placement of 120 IT Manpower for development and implementation of various modules of web enabled software and application portal of PFMs.

          The Controller General of Accounts, Ministry of Finance was given the mandate to move the funds payment to the respective implementing agencies and beneficiaries from paper-based to digital based.

The outcome of the mandate was CPSMS, which at a later date transformed to PFMS.

PFMS is a web-based online transaction system for fund management and e-payment to implementing agencies and beneficiaries.

The primary objective of PFMS is to establish an efficient fund flow system and expenditure network.

PFMS also provides various stakeholders with a reliable and meaningful management information system and an effective decision support system.

The following numbers show the success of PFMS across the country.

Total number of schemes:   CS – 679; CASP – 104

Total Implementing Agencies:        17.88 lakhs

Interface with Banks: PSBs (26), RRBs (50), PrSBs(10),Coop (2) RBI, India Post

FY 2015-16 3.02 lakh sanctions:     Rs4.09 lakh crore

Payments processed per day 2015-16:       >7 lakh

                                     2016-17:  >15 lakh

Average log-in on website – 20,000 per day

Payments are made though following routes:     

 

§  ABPS & NACH of NPCI for DBT payments     

    

§  NEFT for PAO payments    

§  RBI route for IGAA/IAAA

PFMS primarily supports Central Government Schemes; however it extends its expertise to State Governments too.

          

Kerala Gramin Bank – Kerala’s Own Bank unveils ‘DiGi KGB’ Selfie APP

          KGB with 602 branches spread over 14 Kerala districts is slowly spreading the Joy of Safe Banking across Kerala.

          KGB has taken a massive leap into digital banking with the launch of DiGi KGB in the first week of April 2017.

          You can download this App from Playstore. This is first Selfie APP launched by any RRB in India.

          The complete list of Regional Rural Banks can be viewed here

Kerala Gramin Bank (KGB) is a Regional Rural Bank (RRB) formed on 08.07.2013. The bank was formed by amalgamating the two RRBs of Kerala namely South Malabar Gramin Bank and North Malabar Gramin Bank.

The head office of Kerala Gramin Bank is at Malappuram and the sponsor bank is Canara Bank.

Kerala Gramin Bank is the largest Regional Rural Bank in the country with a total business of above Rs. 26,800 Crore and a network of 600 branches spread all over Kerala, serviced by a dedicated team of 3,500 plus staff members.

DiGi KGB is a selfie account opening and m-passbook application that is offered by Kerala Gramin bank. It is a light weight, robust and highly informative app that enables the user to create savings bank account instantly. It also gives complete real time information about all the accounts of the customer.

Kerala Gramin bank is the first Regional Rural Bank in the country to launch a such an app.

The highlights of Digi KGB are:

1) Selfie Account Opening - Instantly open a Savings Bank account by uploading a selfie and images of AADHAAR

2) Mini statements, Balance Enquiry and Passbook of all the accounts, in real time, pertaining to the Customer KGB accounts

3) the ePassbook is locally stored in device, and once downloaded it can retrieved offline at any point of time.

4) Another unique feature is the provision for the account holder to update user remarks against passbook entries. This feature will enable faster reconciliation of the bank enteries and also encourage account holders to transact through DiGi KGB.

5) Customers can locate ATMs or KGB branches through ‘Locate Me’, GPS feature or by manual search option.

6) Standard Interest calculators for Fixed, Cumulative, Recurring Deposits.

7) Loan EMI calculator.

5 Points through which KGB can encourage potential customers  to become KGB customers via DiGi KGB

Point No 01) – Run conversion campaigns at its 600 plus branches

Point No 02) – Enable limited time free WiFi at its 600 plus branches for download of DiGi KGB App and become a KGB customer on the spot.

Point No 03) -  Offer Limited Time sign up bonus for potential customers to download  DiGi KGB App and sigh up for KGB accounts.

Point No 04) – Explore synergies with NPCI BHIM App especially from the rewards angle

Point No 05) – Highlight the DiGi KGB app on its webpage, as the same is still not highlighted on its webpage.

Another interesting App by Kerala Gramin Bank is “Little KGB”

The “Little KGB”, primary target are kids and the main purpose of “Little KGB”, is to inculcate banking and savings habit in children. KGB stands for "Kids Go Banking".

Today's children are more inclined to technology. Hence at Kerala Gramin Bank, Team KGB decided to embrace the medium of smart phone to reach out to children.

The chief character in “Little KGB”, is NOTEY,a naughty boy who becames a coin by the ire of a wizard. During his journey he meets children of different walks of life. He guides them to savings and guides them regarding the different benefits of banking.

Every story ends with some questions about the story. User needs to answer the simple questions to continue to the next story.

Little KGB is available in both Malayalam and English. In the near future, KGB Team along with OrisysIndia team plan to introduce more fun and frolic in the app in the days to come.

11 Differentiators which Fino Payments Bank can adopt

          Fino Payments Bank has received the final ok from Reserve Bank of India. In the next couple of years, you will be able to see ‘Fino Payments Bank’, signboard.

          The Fino group has a number of key features which can be deployed to scale up volumes quickly.

These “11 Differentiators” will enable Fino Payments Bank to rise above the crowd.

Differentiator 01: Leverage Fino Bpay to attract customers around BPCL Outlets for digital transactions.  In July 2016, Fino Paytech entered into a strategic partnership with domestic oil major Bharat Petroleum Corporation Limited (BPCL), which acquired a 21% stake in Fino for ₹251 crore.

BPCL has 13,450+ fuel stations spread all over India. BPCL has 4,500+ LPG distributors, with 1500 exclusive rural distributors.

In fact, Fino Payments Bank should set up a separate vertical to digitise all transactions at BPCL outlets. This itself will provide the much needed CASA Balances to earn a decent float income.

The main advantages of BPCL Outlets are:

A)   Uninterrupted power supply

B)    Ease of ensuring uninterrupted network connectivity

C)    A safe atmosphere for customers to carry out banking related transactions

D)   Ease of getting premium space with minimal efforts

Differentiator 02:: Integrate Fino Bpay Wallet into BPCL Smart Drive App. BPCL launched its Smart Drive in 2016 with various features to encourage fuel users to search for a BPCL fuel station only.

         

Differentiator 03::: Quickly sign up merchants in and around BPCL Outlets on Fino Bpay. Open Current Accounts for the merchants and as and when the balances touches INR 1 lacs, initiate an auto transfer to the Merchants main bank account via NEFT/IMPS.

This will significantly reduce the cash usage at such merchants

Quote from Reserve Bank of India’s operating guidelines for Payment Banks

Bank deposits

(i) As provided in the current RBI directions, PBs can accept only savings and current deposits. The aggregate limit per customer shall not exceed INR100,000, as provided in the Licensing Guidelines. However, the RBI will have no objection to the PBs making arrangements with any other scheduled commercial bank / SFB, for amounts in excess of the prescribed limits, to be swept into an account opened for the customer at that bank. This arrangement should be activated with the prior written consent of the customer

Differentiator 04:::: Deploy mobile banking kiosks at local Haats in and around BPCL Rural outlets.

Differentiator 05::::: Tie up with Small Finance Banks for instant overdraft facility to its Fino BPay merchants. The overdraft can commence with a minimal amount and be scaled up based on the merchants cash-flows.

Alternatively, it can offer overdrafts through its  its own RBI registered NBFC-MFI, i.e Intrepid Finance & Leasing Pvt Ltd.

Differentiator 06:::::: Create Wi-Fi Hotspots in all its branches to enable its customers to transact digitally with minimum cost and high safety. Depending on the potential, it can deploy trained staff to assist customers to transact digitally.

In this area, Fino Paytech is already having experience i.e Assisted e-commerce model, an innovation under FINO Money started off with Snapdeal.

Differentiator 07::::::: Focus on national high-remittance corridors to increase the footfalls to its digital platform. Fino Payments Bank has already tied-up with Western Union to tap the lucrative remittance market.

Differentiator 08:::::::: Decide which is better -  High service fees, low volumes or – Low service fees, high volumes

Differentiator 09::::::::: Adopt local Government schools in and around BPCL outlets for Financial inclusion and financial literacy programs. This is a good way to promote brand value.

Differentiator 10:::::::::: Focus on Truck Drivers to attract customers into Fino Payments Bank fold

Differentiator 11::::::::::: Tap its massive 78 million customers for more differentiators

Links:

Link A) Fino Paytech to launch payment bank, targets high domestic remittance areas

Link B) Fino Paytech set to start payments bank ops from April

Link C) Fino BPay