AKSHAYKUMAR MARKAND MENDHE

Core Roles and Responsibilities of a BOM CSP Agent

• Account Opening & Customer Enrollment: Conducting KYC (Know Your Customer) documentation to open savings accounts (including No-Frills/PMJDY accounts) and collecting biometric data.
• Transaction Services: Facilitating cash deposits, cash withdrawals, balance inquiries, and printing mini-statements using Aadhaar Enabled Payment Systems (AEPS) or micro-ATMs.
• Government Schemes (Financial Inclusion): Enrolling customers in government security schemes such as PMSBY (Pradhan Mantri Suraksha Bima Yojana) and PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana).
• Loan Processing Assistance: Identifying potential borrowers, conducting preliminary screening of loan applications, and helping with loan recovery for agriculture or SME loans.
• Digital Product Marketing: Promoting and facilitating the use of digital products, including RuPay Debit Cards, UPI, and Internet/Mobile Banking services.
• Fund Transfers: Assisting customers with fund transfers, including NEFT, RTGS, and IMPS services.
• Reconciliation & Record Keeping: Ensuring daily reconciliation of transactions, maintaining transaction registers, and maintaining confidentiality of customer data.

Core Roles and Responsibilities:

• Aadhaar Enabled Payment System (AePS) / Aadhaar ATM: Assist customers in withdrawing cash, checking balances, and accessing government benefit funds directly using their fingerprint.
• Domestic Money Transfer (DMT): Facilitate secure, 24/7 instant money transfers for customers, particularly targeting migrant workers, to any bank account in India.
• Micro ATM: Use a small, portable machine to enable cash withdrawals via debit cards from 1,000+ banks.
• Cash Deposit & Collection: Serve as a collection point for NBFCs, microfinance institutions, and e-commerce companies for EMI payments, loan repayments, and cash deposits.
• Utility Payments & Recharges: Help customers pay electricity, gas, water, and insurance bills, as well as mobile/DTH recharges using the Bharat Bill Payment System (BBPS).
• Banking Services: Act as a "Banking Mitra" to assist with opening bank accounts (e.g., Axis Bank Sahaj Savings Account) through Aadhaar eKYC.
• Digital Commerce & Services: Provide access to travel bookings (flight, rail, bus, hotel), insurance products (health, vehicle), and PAN card applications.
• Customer Support & Education: Educate local residents on digital and financial tools to promote digital inclusion.PayNearby +5

Key Responsibilities & Compliance:

• Customer Verification & Compliance: Ensure all transactions are secure and compliant with regulatory guidelines (PCI DSS and ISO 27001).
• Customer Data Protection: Protect consumer data, as PayNearby claims ownership of transaction data while requiring agents to follow secure customer-centric procedures.
• Reporting & Reconciliation: Maintain accurate digital records using the PayNearby platform, including the "Customer Khata" for credit management.
• Marketing & Visibility: Actively promote PayNearby services to increase customer footfall and earn higher commissions.

• Banking Services (AePS & Micro-ATM): Act as a banking correspondent by enabling AePS (Aadhaar Enabled Payment System) for cash withdrawals, deposits, balance inquiries, and mini-statements using biometric authentication. They operate Mini ATMs (m-ATM) for cash withdrawals via debit cards.
• Digital Financial Transactions: Perform domestic money transfers (DMT) for customers to any bank account, particularly assisting migrant workers and those without internet access.
• Utility & Recharge Services: Facilitate Bill Payments (electricity, water, gas) and mobile/DTH/broadband recharges via the Bharat Bill Payment System (BBPS).
• Account Opening & Loans: Assist customers in opening savings accounts and provide access to small loans, credit lines, and EMI finance.
• Government Services & Insurance: Facilitate PAN card registrations, insurance products (life, health, accident), and assist in Direct Benefit Transfers (DBT) for government initiatives.
• Travel Booking: Offer IRCTC railway ticket booking services for individuals who lack internet or smartphone access.
• Customer Service & Trust Building: Educate community members on digital payments and financial literacy, while acting with integrity to ensure secure transactions.
• Regulatory Compliance: Strictly follow KYC (Know Your Customer) norms for all transactions and adhere to regulatory guidelines to prevent fraud.