TCS and Bank of Baroda Extend Partnership to Drive Financial Inclusion in Unbanked Areas

has renewed its partnership with Bank of Baroda for another five years to advance financial inclusion in rural and semi-urban areas. This collaboration focuses on delivering a comprehensive Financial Inclusion Gateway Solution to provide banking services and support underserved communities. The solution enables account opening, Aadhaar-based and debit card transactions, IMPS and NEFT transfers, and enrollment in government schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, and Atal Pension Yojana. TCS will also manage the bank's data center infrastructure, application support, maintenance, and regulatory updates, ensuring seamless service delivery. Since 2010, TCS and Bank of Baroda have worked together to expand access to banking services, establishing 55,000 financial touchpoints across India. This partnership has enhanced the bank's digital infrastructure, enabling better service delivery in unbanked regions. Bank of Baroda’s General Manager, Vimal Kumar Negi, emphasized the role of technology in bridging financial gaps, while Manoj Indulkar, Vice President at TCS, underscored their shared commitment to creating a robust financial ecosystem. This extended collaboration demonstrates the power of technology in promoting financial inclusion, paving the way for improved access to essential banking services and welfare schemes in India’s underserved regions. Source: NDTV Profit No Recommendations