Partners and Association

Partners and Association

CIn its endeavour to bring affordable banking services to the unbanked and under-banked segments of the society, CIGS has continuously been exploring the opportunities for partnering with entities that can further its goal and help it realize its Vision & Mission statements.

CIGS has entered into a Memorandum of Understanding (MoU) with Altimetrik India Private Ltd., a Bangalore-based Technology Company, for Mobile & Tablet based FI Solution. Earlier, it had entered into an Agreement with Electra Card Services Pvt. Ltd., (ECS), a Pune-based Retail Payment Technology Service Provider, for offering a robust EFT Switch-based FI Solution

CIGS has also entered into MoU with CMC Ltd., a wholly owned Subsidiary of TCS, to bundle its Mobility technology with the latter’s CBS and offering the package to potential customers in the Middle-East and Africa.

CIGS has been acting as the Technology Service Provider to ICICI Bank Ltd., for its Urban Financial Inclusion Project in the States of Tamil Nadu and Karnataka.

CIGS, wherever it is required to render the Business Correspondent Services as well, partners with Commonwealth Inclusive Growth Foundation; while the former acts as the TSP, the latter acts as the BC.

About CIGF

“CIGS uses the BC Services of Commonwealth Inclusive Growth Foundation, wherever CIGS secures the order for end-to-end FI Solution.”

Commonwealth Inclusive Growth Foundation (CIGF), a Section25 Company, was incorporated on April 2, 2009, with the primary social objective of rendering banking & financial services to the vast un-banked segments of the population, by acting as Business Correspondent to banks in India.

CIGF empanels eligible individuals & entities as Business Correspondent Agents (BC Agents) or Agents manning the Customer Service Points (CSPs), in the geographies specifically allocated by the partner bank / Organization concerned. While CIGF would act as the BC for a number of banks, each BC Agent would be allocated to a particular Branch of a partner bank. CIGF would employ supervisory staff, to support, monitor & manage the network of BC Agents.

Since the primary aim of offering banking services to the general public through the BC model is to (i) take the banking services to the very location where the un-banked segment reside (ii) ensure availability of service during the timings convenient to the un-banked segment; and (iii) keep the cost of service to the bare minimum, CIGF positions, wherever permitted, rendering of the banking services as a source of additional income and as a prestigious activity to the prospective BC Agents who are already into some kind of approved profession, rather than making it as the only source of income. Thus, wherever permitted, persons & entities authorized to act as BC Agents, like, Insurance Agents, Medical Shops, Grocery Shops, Petrol Stations, Retired Bank Employees, Ex-Servicemen, etc., who are residents of the area being covered, would be made as the BC Agents, thereby making the banking services available to the customers, round-the-clock, in their neighbourhood itself and at the same time, keep the cost of rendering service at low levels; CIGF shall adhere to the extant norms of the partner bank(s) concerned in this regard.

CIGF strongly believes that unless the BC Agents are appropriately remunerated, they would not be interested in rendering quality service to the general public; hence, CIGF adopts business models that would ensure accrual of adequate revenue to the BC Agents.

CIGF has established sound processes & procedures, to render quality services to the general public, duly securing the interest of the partner banks.

Board Of Directors

  • Dr. Mohan Kaul
  • Mr. Mahesh Ramachandran
  • Dr. T.R. Suresh
  • Lt. Col. Dr. Mohanlal, Padma Shri
  • Mr. P. Swaminathan

Partners & Customers of CIGF

Tata Consultancy Services Ltd. (TCS)

CIGF has partnered with TCS, to render Business Correspondent Services to Indian Bank, since November 2010.

Besides the basic Savings Bank & Recurring Deposit account services, it has been handling Electronic Benefit Transfer / Direct Benefit Transfer transactions.

CIGF has also rendered Handholding Support to the various Co-operative Banks in the State of Tamil Nadu, on behalf of C-Edge, a subsidiary of TCS.

Atom Technologies Pvt. Ltd. (Atom)

CIGF has partnered with Atom, to render Business Correspondent Services to the Lakshmi Vilas Bank Ltd., since June 2011.

As an exclusive BC to the Lakshmi Vilas Bank Ltd., besides the basic Savings Bank account services, it has been handling Electronic Benefit Transfer / Direct Benefit Transfer transactions.

ICICI Bank Ltd.

CIGF has been acting as the BC to ICICI Bank Ltd., for rendering Financial Inclusion and Domestic Money Remittance Services, with CIGS acting as the Technology Service Provider.

FI Services commenced in July 2011 and the Domestic Money Remittance Services commenced in December 2012.

Besides, CIGF has also empanelled over 80 BC Agents, in and around Chennai, for rendering the Domestic Money Remittance Service.

City Union Bank Ltd. (CUB)

CIGF has been acting as the BC to CUB since May 2013.

Besides the basic Savings Bank account services, it has been handling Electronic Benefit Transfer / Direct Benefit Transfer transactions.


CIGS offers customized Products on the versatile Mobile Platform, to meet the varied requirements of its partners; depending on the policies of its partners.


  • Financial Inclusions
  • Salary / wages dsitribution
  • EMI Recovery


  • Strategic Partner Organization of Commonwealth Business Council, U.K.
  • Incorporated in January 2008
  • Eminent, erudite Board, headed by the Chairman Emeritus, CBC
  • Highest level of commitment to Financial Inclusion, for ensuring Inclusive Growth
  • Qualified, well experienced & result-oriented Management Team.
  • Appropriate, committed partnerships.
  • Sound systems & processes
  • Innovative solutions
  • Strong Delivery capability
  • Excellent Operations Management capability