"The core technology is based on NXP Semiconductors and is used for very high-end work. With this, all we need is a cellphone that can read a smart card with all the relevant data when it is held four inches away," says Anurag Gupta, CEO, A Little World. The technology has found a willing partner in the State Bank of India. Ramchandra Reddy, DGM (agriculture and rural markets), SBI, says, "I hail from a remote village in Cuddapah district, so I know the difference this will make. Today I can offer people in villages financial services ranging from micro insurance covers of Rs 25,000 to micro loans and better cash management instruments."
It started as a pilot project in Warangal district where around 185 women—mostly self-help group members (SHG)—were trained as customer service providers. They fan out into the district, meet pensioners, confirm their identities by checking one of six fingerprints fed into the cards and then hand over money. The balance left in their accounts is also checked.
The technology has succeeded in the middle of nowhere because it is simple to operate besides being secure, easy to upgrade, scalable, versatile and most importantly, low cost. With 154 villages covered, the project is all set to roll out in the districts of Medak, Karimnagar, East Godavari and Mahbubnagar. Some like Reddy insist that besides benefiting people, it has also saved the state government several lakh rupees spent in providing the same services through postal or other modes.
