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Eko India gives banking providers to migrants in Telangana

Hyderabad: Eko India, a fintech firm that allows deposit, withdrawal, and remittance providers for its clients, largely migrant staff, has eased the entry of migrants to cash and catering to their financial wants within the prevailing coronavirus state of affairs in Telangana.

Eko’s community of over 2 lakh entrepreneurs, retailers, and people, throughout 200 cities in India has been instrumental in bringing about this ease to the lives of migrants, a press launch mentioned. It partnered with the State Bank of India and different personal sector banks and funds banks to supply banking providers to migrants in Telangana.

Eko, has been constructed on the Aadhaar Enabled Cost System (AePS), to supply cash-out providers to migrants. AePS, a product by NPCI (Nationwide Cost Company of India), is a cost service that allows a buyer to make use of his/her distinctive Aadhaar identification quantity to entry bank accounts and carry out primary transactions comparable to cash deposits, cash withdrawals, steadiness inquiry, and Aadhaar-to-Aadhaar account fund transfers and remittances by means of a enterprise correspondent (BC) in distant areas.

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Jung Min-seo


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